Elements of Marketing Process of Organisation

Added on -2020-02-17

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MARKETING PRINCIPLES1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1Various elements of marketing process..................................................................................11.2 Profits and cost involved in Bristol Cars market positioning................................................3TASK 2............................................................................................................................................32.1 Influence over the marketing decisions by macro and micro environmental factors............32.2 Segmentation criteria for the cars in various marketplace.....................................................52.3 Targeting strategy for Bristol cars........................................................................................62.4 Buyers behaviour affecting the marketing activities.............................................................72.5 Positioning strategy for Bristol Cars......................................................................................7TASK 3............................................................................................................................................83.1 Development of product to sustain the competitive advantage.............................................83.2 Distribution is arranged to provide quality services to the clients ......................................93.3 Prices are set to reflect the Standard Chartered objective and market condition ...............93.4 Promotional activity is integrated to achieve marketing objectives....................................103.5 Additive factors of the prolonged marketing mixture for Standardized Lease...................11CONCLUSION..............................................................................................................................16REFERENCES ...............................................................................................................................11
List of FiguresFigure 1: Elements of Marketing Process........................................................................................2Figure 2: Factors affecting marketing decisions..............................................................................4Figure 3: General targeting strategy of organisations......................................................................6Figure 4: Medium of Promotions..................................................................................................10Figure 5: Additional Elements of Marketing Mix.........................................................................111
INTRODUCTIONManagement of tasks like allotment , broadcasting and accounting to transmission ofgoods and services to the customers in order to satisfy their needs from the sellers are referred toas the marketing principles.Such type of principles are often useful in optimization of theopportunities provided by the market order for the organization to achieve its targets andobjectives.Macro and micro factors factors will also be considered in order to determine anindividual's behaviour of buying which has a impact in the growth of future. Light has beenthrown on distribution, focussing and orienting criteria that are utilized in Bristol Cars in thisreport. Focussing on the agonistic assets that are helpful for the growth of feasible goods andservices of the bank with details on medium distribution for the convenience of customer hasbeen done at the end along-with new task. TASK 11.1Various elements of marketing processThere are different elements present in the marketing process of the organisation.Marketing plays a critical role for attracting the customer by considering their demand andfulfilling their and organisation objectives by providing customer satisfaction. It providesrelevant information to the customer about the product and services the organisation is offering.Marketing in simple term define as set of procedures and guidelines that emphasis on customerneed and demand by providing effective communication, information and delivery of theproduct. Organisation in accordance with current scenario is utilizing the method of marketingfor the right product to be delivered to the appropriate customer at accurate place (Kotler.et.al.2015).Various fundamentals of marketing methodologies can be utilized by Bristol Cars. Fewamong them are :1
Figure 1: Marketing Process FundamentalsCustomer’s need:Understanding of the needs along-with perception of the customer for the types of carsthey require is of utter importance for Bristol Cars . Only after analysing this process theorganisation can frame the marketing strategy and plan respectively.Marketing strategy: After developing the product, the organisation needs to market their product in themarket. Strategies in marketing of Bristol cars may depend upon the competitor’s price valueand product along-with conditions in marketing that are also taken in account during selectionof strategies in marketing for the brand-new good or existing existing good in order to boost uptheir gross sales (A. Griffith et.al. 2014).Customer delight:Organisation needs to provide the customer benefits like discounts, free gifts, innovativeofferings, after sales services etc. to attract the customers towards their product to increase theirsale with customer satisfaction. 2Marketing Process FundamentalsCustomer’s needMarketing strategyCustomer delight
1.2 Profits and cost involved in Bristol Cars market positioningOrientation or positioning in market is the method through which organisationdetermines the trends currently in the marketplace and develops the scheme according to thetrends that satisfies the client demands along-with needs. Below is given theprofits in thepositioning in Bristol cars:Long term profitability- The Bristol cars would have a beneficial and competitive advantage ofusing the positioning of market to achieve profits which are long term. In pursuance of retainingthe customer , considering long-standing and for maintaining relations which organisation usesthe networked platform for providing the instant services and queries of customer would beresolved on time.Customer value formation- For achieving the customer satisfaction the only criteria is toconsider the customer’s necessities and demands in order for the reception of best product tothem for their worth (Hollensen, 2015). The Bristol cars can use positioning market techniquesto do the aforementioned.Expenditure of positioning-Positioning prices are generally at peak due to which theorganisation is capable of identifying the necessity and request of the product for developing thestrategy. The main cost that is concerned with positioning of market is exploration costs of themarket , which also consumes human resources along-with period of time of the Bristol carsalthough it is facilitatory for trends and international markets research.TASK 22.1 Influence over the marketing decisions by macro and micro environmental factorsEvery organisation has some internal and external factor affecting it. The macro andmicro environment in the organization too affects a Bristol Car.3

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