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Essay on Analysing And Evaluating Marketing Fundamentals

   

Added on  2021-02-20

10 Pages3183 Words63 Views
Essay Analysing AndEvaluating MarketingFundamentals On a Project

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1A.........................................................................................................................................1Processes & stages of marketing and role of the marketing mix.................................................1Role of the marketing in creating customers value......................................................................4Stakeholder engagement and their impact on marketing activities.............................................5TASK 1B.........................................................................................................................................6Reflection on the tactical communication tools for the generation of awareness and interest inthe project.....................................................................................................................................6CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONMarketing mix refers to strategy that is used for promoting product and services in themarketplace. It consist of different factors such as product, price, place and promotion. All thesefour elements are flexible in nature and helps in effective communication in the market. Present report will focused on Prada company. It is an Italian luxury fashion housecompany that sells leather, handbags travel accessories, perfumes, shoes and other fashionaccessories. It was founded by Mario Prada in 1913. Report emphasized on different processes and stages that are included in marketing mixand role of marketing in creating value for customers. It includes stakeholder engagement and itsimpact on marketing activities in an organization. Furthermore, it includes tools that are used intactical communication for generating awareness and interest in the project. TASK 1 AProcesses & stages of marketing and role of the marketing mixMARKETING Marketing refers to the concept which is being used by companies for the promotion andselling of their products and services to the end users. It can be understood as a area wherecompanies try to make and strengthen the customers' relationships. It is one of the major functionand department in the corporate world (Gunelius, 2017). PROCESS OF MARKETING Marketing process (process of marketing) refers to the series of some particular actionsthrough which companies are able to analysis their market opportunities, select their targetingmarket, prepare the marketing mix and conduct various marketing activities in order to achievetheir marketing as well as organizational goals. Following are some steps of marketing process which has been adopted by the PradaCompany. These steps are as follows - Strategic Objectives – Strategic objectives refers to the long term objectives which helpscompany to grow more. It involves mission statement, vision statement, core values and goals &objectives. Prada company has its own mission, vision, objectives, goals and core values onwhich company are trying to standing in order to run its business for long term and profitable.Situation Analysis – It refers to the methods of identifying and investigating the internal andexternal environmental factors and their impact on the business activities. It involves SWOT1

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