Understanding Customer Needs and Marketing

This assignment delves into the fundamental principles of marketing by emphasizing the critical role of understanding customer needs and wants. It highlights how organizations should tailor their services and products to satisfy these requirements. The concept of market segmentation is also discussed as a valuable tool for effectively grouping customers and gaining deeper insights into their preferences.

Marketing Principles

Table of Contents
INTRODUCTION...........................................................................................................................1
LO1 Concept and process of marketing...........................................................................................1
LO 1.1 Elements involved in marketing process....................................................................1
LO 1.2 Benefits and cost of marketing orientation................................................................1
3. USE CONCEPTS OF SEGMENTATION/TARGETING/POSITIONING................................2
LO 2.2 Product which can be marketed to two different segments........................................2
LO 2.3 Market coverage strategy for the product..................................................................3
LO 2.4 Impact of buying behavior at different buying situations..........................................3
LO 2.5 Positioning option of the new product.......................................................................3
4. Explaining 4p's.............................................................................................................................4
LO 3.1 One of the strategy in Ansoff Matrix.........................................................................4
LO 3.1 Product in developing sustainable development........................................................5
LO 3.2 Distribution element of marketing mix......................................................................5
LO 3.3 Price element for marketing mix................................................................................5
LO 3.4 Promotional element of marketing mix......................................................................6
LO 4.1 Marketing Mix for two different segments................................................................6
5.EXPLAIN AND ANALYZE EXTENDED MARKETING MIX................................................7
LO 3.5 Extended marketing mix............................................................................................7
LO 4.2 Difference between marketing product and services to businesses...........................7
LO 4.3 Difference between domestic and international marketing........................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

Index of Tables
Table 1: Difference between B2B and B2C....................................................................................8
Table 2: Difference between Domestic and International marketing..............................................9
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Illustration Index
Illustration 1: Ansoff Matrix............................................................................................................7
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INTRODUCTION
Marketing principles can be defined as a process through which customers needs and
wants are identified. In this context, there are mainly four elements involved, which are products,
price, place and promotion (von der Heidt and Quazi, 2013). Present report is about Morrisons,
which is listed among the top four retail industries n UK. Organization mainly focus on
understanding their customers requirements and accordingly they provide products and services
to satisfy them. This report covers, the various elements which are involved in marketing
process. Further, it covers understanding the concept behind targeting, positioning and
segmenting. Lastly, it also includes use of marketing mix at different concepts.
LO1 Concept and process of marketing
LO 1.1 Elements involved in marketing process
Marketing can be defined as a process through which products or services are promoted
or information regarding the commodities are conveyed to customers (Marshall, 2014).
Marketing process is very helpful in identifying the factors which are favourable to organization
and which are not. It helps in analysing the market and accordingly firm can make changes so as
to attract customers. Following are the elements for marketing process:
Environmental scanning: There are many tools through which Morrison can analyse their
internal and external factors. Firm can use tools like PESTLE, SWOT, Poster five forces, etc.
(Cătoiu, Geangu and Gârdan, 2013).
Strategies of marketing: there are mainly three types of marketing strategies which are
positioning, segmentation and targeting. It is very helpful in dividing the target audience and also
help in understanding their customers more closely.
Marketing Tactics: There are mainly seven marketing tactics which are price, product,
promotions, physical evidence, place, people and process.
LO 1.2 Benefits and cost of marketing orientation
In marketing orientation there are mainly four concepts use in presenting products to
customers are as follows:
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Product: It is very important for the organization to convey about the characteristics and feature
of products. In this context, firm should deliver features which are unique as it will help in
attracting customers (Alserhan, 2015).
Price: In introduction any product price highly matters as it tents the customers whether to buy it
or not. With this respect, it is important for the firm to analyse the market and then price the
product.
Place: Distribution of product plays important role as it helps in making the products available to
customer's.
Promotion: There are many tools through which firm can convey about their product to
customers and it should be done effectively.
Following are the benefits of market orientation:
Focuses production: Firm will be able to provide information to their customers more
effectively (Wood, 2012). Customers will get more satisfaction and this will help in developing
brand loyalty.
Concentrated strategy: Organization will be able to align all their function at same direction and
the vision will be clear.
3. USE CONCEPTS OF SEGMENTATION/TARGETING/POSITIONING
LO 2.2 Product which can be marketed to two different segments
Segmentation can be defined as a process in which customers are divided into different
groups which helps in understanding needs and wants more clearly. Morrison are focusing on
developing new product which will be a perfume called “Link”. Following are the segmentation
of this product:
Demographic: This segmentation is done on the basis on age, income, gender, education, etc. In
accordance with the product, it can be divided into two genders that is male and female ( Kotler
and Armstrong, 2013). It will be helpful in developing marketing plan for the product.
Psychographic: In this segmentation, division is done on the basis of characteristics like beliefs,
values, attitude, lifestyle, etc. This perfume is designed for young people, both for male and
female and this will help them to develop confidence.
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LO 2.3 Market coverage strategy for the product
It is very helpful in selling the product to targeted audience in an effective manner.
Following are the coverage strategy which can be adopted by Morrison:
Differentiated targeting: According to this targeting, promotional message is developed so as to
attract customers (Shank and Lyberger, 2014). Multi target strategy will be adopted by Morrison
as they will focus on both genders above the age group for 10 to 60.
Concentrated targeting: According to this targeting, segmentation is done in order to develop
marketing strategies. In this respect, targeting is done on the basis of gender, that is both male
and female will be focused.
LO 2.4 Impact of buying behavior at different buying situations
There are many sources through which buying behaviour is affect. Following are few of
them at different buying situations:
Change in price: This is one of the main factors because of which buying behaviour of
customers changes. There are many competitors for perfume and it is very important for the firm
to provide the product to their customers at low price. If the price will be comparatively low
from its competitors, then services users will get attracted (Coduto, 2015). On the other hand, if
the price of the product kept is high, then it would affect the firm negatively as customers will
not prefer the product as they are already getting the same benefit at low price.
Promotional activities: When organization make use of promotional activity, then it develops
curiosity among the customers and they tend to buy the product.
LO 2.5 Positioning option of the new product
In order to position the product, it is very important for the organization to position the
product. It is very helpful in developing unique identity among the mind of the customers.
Following are the different ways through which can position their product:
Research and surveys: It is very helpful in understanding the needs and requirements of the
customers. This also helps in developing products or making changes according to their
requirements (Lilien, Rangaswamy and De Bruyn, 2013). The ultimate of the firm is to gain
maximum profit and it only possible when organization satisfy their customers. Moreover, firm
should focus on developing innovative product through which customers could be attracted.
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Promotional tools: There are many promotional tools like television, radio, newspaper, etc. it
helps in developing strong image among the customers.
4. Explaining 4p's
LO 3.1 One of the strategy in Ansoff Matrix
Ansoff matrix help in determining the potential markets and products of the organization.
There are mainly four aspects under this model, which are as follows:
Market penetration: According to this strategy, firm focuses of their existing product or
services. They try to develop new strategies through which they aim at attracting customers.
Market development: In this market, organization focus on expansion of their business (Strategic
management, 2010).
Product development: Organization focus on developing new product through which they aim at
gaining profit and in increasing market share.
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Illustration 1: Ansoff Matrix
(Source: Strategic management, 2010)

Diversification: according to this strategy firm develop totally new product, new business and at
new market.
Among above given strategies, the product developed by Morrison falls under product
development as they have focuses on developing a new product which is a perfume called
“Link”.
LO 3.1 Product in developing sustainable development
Perfume is not a new product as there are many other firms which provide similar
product. In addition to this, products are targeted to both male and female and this will be helpful
in attracting customers. In order to attract female customer's product will be sold in four different
fragrance which are rose, lavender, jasmine and carnations (Wyld, 2012). On the other hand, in
order to attract male customers fragrances like heritage and woody will be provided. Different
people have different preferences and by providing customers with different fragrances will help
in attracting customers effectively. This way Morrison will be able to achieve competitive
advantage.
LO 3.2 Distribution element of marketing mix
So as to make the product reach to customers, it will be provided at all the outlets of
Morrison and it has approximately 450 stores. In addition to this, product will be provided to
other retail stores as well. In addition to this, people in today's world prefer to buy products
online (Wong and Huang, 2015). With this respect, new product “Link” will be sold online as it
will be helpful in attracting customers effectively. This way firm will be able to make the
product easily available to customers and in will be able to gain profit out of it.
LO 3.3 Price element for marketing mix
Price of the product plays an essential role in attracting customers. It is one of the main
factor because of which buying behaviour of customers affects. So as to attract customers, it is
very important for the organization to conduct an analysis of different firm which provides
similar products to customers (Ennew and Waite, 2013). According to the comparative analysis
done it was found that the price of the new perfume “Link” should be £11.15. With this price
firm will be able to attract customers as the product is cheaper than the price provided by other
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organizations. All the other fragrances for both male and female will be provided at same rate.
When the product will be preferred by customers, then the price will be raised.
LO 3.4 Promotional element of marketing mix
There are many promotional tools which can be used by Morrison in order to attract
customers. In this context, advertisement will be developed in order to create curiosity among
customers. Moreover, personal selling will be used. With this respect, different groups will be
made who will be given different areas (Atwong, 2015). They will personally visit different
houses and demonstrate the products. One of the main advantage it they customers will be able
to clarify all their doubts related with the products. In addition to this, radio, newspaper and
Internet will be used in order to convey regarding the product. For promoting the product,
discount offers will be provided and additional gifts will also be provided to customers on the
purchase of this perfume.
LO 4.1 Marketing Mix for two different segments
The new product “Link” is segmented on the basis of gender among which following are
the marketing mix for Male:
Product This perfume will be sold in two fragrances for
men which are heritage and woody.
Price According to the comparative analysis made
price of the product for both fragrances will be
£11.15
Place Product will be sold on all the physical outlets
of Morrison's store, online and other retail
stores
Promotion Personal selling will be done, discount offers
and additional gifts will be given with the
product.
Following are the segmentation for Female:
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Product For female perfume will be sold in four
fragrances which are rose, lavender, jasmine
and carnations.
Price According to the analysis done price of the
product for all the four fragrances will be
£11.15
Place Product will be sold on all the physical outlets
of Morrison's, all retail stores and online
Promotion Discount offers, additional gifts and personal
selling will be done
5.EXPLAIN AND ANALYZE EXTENDED MARKETING MIX
LO 3.5 Extended marketing mix
There are three additional marketing mix which are considered to be very essential,
which are as follows:
Process: It is very important for the organization to deliver the product in an systematic way.
The entire experience of the customer should be proper (Pérez-Escamilla, 2012). Morrison's
should be able to deliver their services so that customers could develop an good image for the
product.
People: All the employees should satisfied and provide with the needs and requirements. They
are the face of the organization, so it is very essential for the firm to understand their employees
satisfy them accordingly.
Physical evidence: It is essential for the organization to display their products in such a way that
customers could be attracted (von der Heidt and Quazi, 2013). Morrison's should display the
product that it will be able to attract customers effectively.
LO 4.2 Difference between marketing product and services to businesses
Table 1: Difference between B2B and B2C
Business to Business Business to Customers
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Purchaser purchases the product in bulk. Service user buy the product in small quantity.
Margin for products are low and businesses
take decisions on bidding.
Here customers have to pay the same price as
mentioned.
Here promotions are done by giving discount
and through sales promotion
Promotion through television, radio,
newspaper, internet, etc. (Wyld, 2012)
Driven logically and rationally Focused on emotions
LO 4.3 Difference between domestic and international marketing
Table 2: Difference between Domestic and International marketing
Domestic Marketing International Marketing
According to this marketing buying and selling
takes place within the financial market.
In this marketing buying and selling takes
place among different markets.
Less risk is involved High risk is involved (Shank and Lyberger,
2014).
Knowledge related to management required Knowledge related to competence and specific
management required
CONCLUSION
From this report, it can be articulated that research and surveys are very essential in order to
know the need and wants. Accordingly, organizations should provide services or product with
the help of which they will be able to satisfy customers. Further, segmentation will be helpful in
dividing the customers into different groups which make it easy to understand customers
effectively.
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REFERENCES
Books and Journals
Alserhan, B.A., 2015. The principles of Islamic marketing. Ashgate Publishing, Ltd.
Atwong, C.T., 2015. A social media practicum: An action-learning approach to social media
marketing and analytics. Marketing Education Review. 25(1). pp.27-31.
Cătoiu, I., Geangu, I.P. and Gârdan, D.A., 2013. Applying Marketing Principles in the Field of
Medical Services–An Ethical Challenge?. Procedia Economics and Finance. 6. pp.449-
456.
Coduto, D.P., 2015. Foundation design: principles and practices. Prentice Hall.
Ennew, C. and Waite, N., 2013. Financial services marketing: An international guide to
principles and practice. Routledge.
Kotler, P. and Armstrong, G., 2013. Principles of Marketing 15th Global Edition. Pearson.
Lilien, G.L., Rangaswamy, A. and De Bruyn, A., 2013. Principles of marketing engineering.
DecisionPro.
Marshall, G., 2014. Marketing management. McGraw-Hill Higher Education.
Pérez-Escamilla, R., 2012. Breastfeeding social marketing: lessons learned from USDA's
“Loving Support” campaign. Breastfeeding Medicine. 7(5). pp.358-363.
Shank, M.D. and Lyberger, M.R., 2014. Sports marketing: A strategic perspective. Routledge.
von der Heidt, T. and Quazi, A., 2013. Enhancing learning-centeredness in marketing principles
curriculum. Australasian Marketing Journal (AMJ). 21(4). pp.250-258.
Wong, M. and Huang, P.C., 2015. Culturally Embedded Mechanism, Guanxi in Marketing. Open
Journal of Social Sciences. 3(07). pp.154.
Wood, M., 2012. Marketing social marketing. Journal of Social Marketing. 2(2). pp.94-102.
Wyld, J.A., 2012. A Marketing Tool Kit for Scientists. BioScience. 62(11). pp.998-1000.
Online
Strategic management. 2010. [Online]. Available through:
<http://www.quickmba.com/strategy/matrix/ansoff/>. [Accessed on 23ed February 2015].
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