Principles of Marketing

Principles of marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
STP ..................................................................................................................................................1
Segmentation...............................................................................................................................1
Targeting.....................................................................................................................................2
Positioning...................................................................................................................................3
Marketing Mix.................................................................................................................................3
Product .......................................................................................................................................3
Price.............................................................................................................................................3
Place............................................................................................................................................4
Promotions..................................................................................................................................4
CONCLUSION................................................................................................................................5
References:.......................................................................................................................................6

INTRODUCTION
Marketing refers to all those activities which is related to promoting an product. It consist
of increasing consumer awareness, analysing marketing environment, promoting sells of
products, increasing reputation of company and many more (Ing, Osman and Tze-Yin, 2020). In
simple words it refers to those actions of a company which consist to attract their targeted
audience by conveying high quality message. Its a very wide concept with main purpose to
attract customers and increase overall sale by influencing customers that offered products or
services are best than other brands in market place. Morrison is a supermarket chain in UK
which is founded by William Morrison in the year 1899. Its headquartered in Bradford, UK. The
following report covers STP and Marketing Mix (4Ps) of mentioned company.
MAIN BODY
STP
The main outcome of STP is to target required customers by segmenting market into
smaller groups and studying each group and analysing which segment is more profitable to target
according to offered product. Last component of STP is positioning which refers to create a
brand image in market to gain customer trust. Every company plan for STP as it is one of basic
and important activity to grow in market.
Segmentation
It refers to making or dividing whole market in smaller groups and each group has
different features and characterised features form other group but the customers fall in a single
group has similar characteristics(Othman and et. al., 2019). In context of Morrison, they divided
their markets into various type which is explained below-
Demographic segmentation- It refers to divide markets on the basis of age, gender, income and
many others. Demographical segmentation of Morrison are mentioned below-
Age- Morrison segmented their market in two different groups in age and they are 20- 40 year
old customers and 40-60 year old customers.
Gender- Morrison segmented their customers in both gender males as well as females but they
focus more on segmenting market for female customers.
Income- Morrison did not have high prices products. Hence, they divide their market for all type
of customers high income, moderate as well as low income customers.
1