Marketing Principles - Vodafone
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Added on 2020-01-23
Marketing Principles - Vodafone
Added on 2020-01-23
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Marketing Principles
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Explanation of the various elements of the marketing process........................................31.2 Evaluation of the benefits and costs of a marketing orientation......................................4TASK 2............................................................................................................................................52.1 Macro and micro environmental factors which influence marketing decisions...............52.2 Segmentation criteria to be used for products in different markets..................................52.3 Targeting strategy for a selected product/service.............................................................62.4 Demonstration of buyer behaviour affects marketing activities in different buyingsituations.................................................................................................................................72.5 New positioning for a selected product/service................................................................7TASK 3............................................................................................................................................83.1 Explanation of products are developed to sustain competitive advantage.......................83.2 Explanation of distribution is arranged to provide customer convenience......................83.3 Explanation of prices are set to reflect an organisation’s objectives and market conditions93.4 Illustration of promotional activity is integrated to achieve marketing objectives........103.5 Analysis of the additional elements of the extended marketing mix..............................10TASK 4..........................................................................................................................................114.1 Plan for marketing mixes for two different segments in consumer markets for VodafoneUK........................................................................................................................................114.2 Illustration of differences in marketing products and services to businesses rather thanconsumers for Vodafone UK................................................................................................114.3 International marketing differs from domestic marketing in the case of Vodafone UK12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONA process of the products development as per the demands and needs of the targetedmarket can stated as a marketing principles (Wymer, 2011). It helps to determine productdevelopment, prices, place and promotions which can help to a company to take effectivedecisions. Most of the companies which are working on the huge level are using marketingprinciples for making effective strategy to be successful in the targeted market and reduce themarket rivalries. The present report is based on the Audi company, auto mobile industry, HSBCbank and Vodafone these are the leading companies in the market. In the starting of this report ishaving focus on the various elements of the marketing process and benefits and costs of themarketing orientation (Wang, 2011). Many of the factors affecting on the car industry which caninfluence on the marketing decisions occur from the macro and micro environment of theindustry. After it is having content on the banking sector's products and services to sustaincompetitive advantage so this part is having based on the HSBC bank. At the last it is havingfocus on the Vodafone use marketing mix for different markets. TASK 11.1 Explanation of the various elements of the marketing processMarketing process is having different elements which has to used by the Car companyAudi to make their products and services better as per the aspects of the customers which arehere under the following points:Target market: In the first of the marketing process, it is essential for the Audi to select a targetmarket which can help to the company to take decisions on the different factors and causeswhich can help to the company to improve their products and services as per their needs. Audihas to make a proper analysis of the market in which includes different factors like; rivalries,trends, economical conditions of the market, these all elements can help to make a bettermarketing process. Customers analysis: Targeted customers are the essential element of the marketing process, allof the marketing activities are based on the targeted consumers (Sheth and Sisodia, 2015). SoAudi has to make a proper analysis of the targeted customers of each of the car by which theycan make suitable decisions to make changes in the car and services.
Planning & strategies: Planning and strategies are main function of the marketing process whichhelp to the company to make an effective process which can help to the company to take betterdecisions to provide proper customers assistance (Rusinko, 2010). Implementation and control: After the finalising of the marketing planning and strategiescompany has to make an effective implementation of the marketing plan on the ground levelwhich can help to the company to attain such objectives. 1.2 Evaluation of the benefits and costs of a marketing orientationIt is essential for the company to make an evaluation of the benefits and cost of themarketing orientation. Improving marketing process is having negative and positive results forthe company so it is essential for the company to make an effective planning on this. Some of thebenefits and costs are here in the following points:Benefits of the marketing orientationIncrease of sales: Marketing orientation can help to the company to make a better sales of theproducts which can supports to the organisation to attain their financial targets in a pre decidedtime period. Decrease market rivalries:Marketing orientation has a potential to reduce market rivalries whichcan help to the company to increase their sales (Reijonen, 2010). It can help to the company tomake an impact on the targeted market which can be converted by the organisation thecustomers. Cost of the marketing orientationFinancial pressure: Marketing orientation process built a financial pressure on the organisation.So it is essential for the company to make proper planning for the resources where from they cangenerate financial support for the marketing activities. Need of marketing experts: Marketing orientation and improvement in the marketing activitiesis having huge need of the marketing experts which can help to the company to make aneffective planning as per the needs of the company (Nicholson and Oliphant, 2014). So they haveto recruits new people in the marketing team or they have to hire these people for the marketingorientation which also increase their internal cost of the production.
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