Foundations of Marketing

This document discusses the foundations of marketing, including market segmentation, targeting, and positioning. It explores the benefits of marketing planning and the concept of the 'Boiled Frog' in the external environment. It also examines the characteristics of service industries and the importance of organizational sustainability in marketing.

Foundations of
marketing
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Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
A) By selecting any industry which is linked with the business sector and elaborate the
relation ship between market segmentation , Targeting and Positioning..............................3
b) As in “Fail to plan and plan to fail” is phrase often associated with marketing planning,
highlight the key benefits to presumes a formal marketing planning process ....................4
C) In the context of external environment discuss about the meant of the “Boiled Frog”,
through with ana examples of an industry or organisation that has been directly described this
way.........................................................................................................................................5
D) Are Services industries said to be the intangible ? Discuss with the three characteristics
which are linked between service industries..........................................................................6
E) Why it does seems to organisational for more sustainability?..........................................6
CONCLUSION................................................................................................................................7
REFERNCES...................................................................................................................................8
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INTRODUCTION
A Marketing is the process of strategic dealing of goods and services and making
awareness towards the consumers publicity about the offerings of an organisation to persuade the
target customers for intending them to making purchases (Keast, Skrepnek & Nesser, 2016).
Thus, marketing is a tool used for increasing sales and profits of a company through properly
promoting and communicating information about their products or services. It is also useful in
developing and maintaining effective and long lasting relationship and bonding with customers,
clients and other stakeholder to maintain the success and performance of an particular
organisation.
MAIN BODY
A) By selecting any industry which is linked with the business sector and elaborate the relation
ship between market segmentation , Targeting and Positioning.
Throughout the mapping of the scenario of the retail industry the company which has taken
for this report as Tesco company Plc is based on British retail industry which implies the
groceries and general merchandise retailer with the headquarter in Welwyn Garden City, London
United Kingdom as it the second largest stores and recommended by people and ninth largest
retailer in the gross revenues as it being the leader of the groceries in the united Kingdom in
which the market share around the 28.4% of covered by company in the market environment.
As per the market strategies for measured targets , segmentation , positioning in the context of
Tesco plc company.
Strategy formulation as per the elements of marketing planning facilitates information about the
formation of strategies and tactics formed for the success of any project or plan. To analysing the
tactics and select the most suitable as per its new factor arises and the STP model are comprising
as per the Tesco Company perspective. By using the model is structured of STP in marketing
segmentation is described in the format of retail industry (Almoli, 2018). Market
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Segmentation is the emphasising about the business procedure of dealing the products and
services as in rural and urban areas or international countries that believes of customer loyalty
of population . Measurable is defines about the customer behaviour on the particular product
perspective power of purchasing in terms of profiles on the basic segment which can be
measured on the purchasing power as they can afford the quantity or quality of the product.
Accessible: As the determination of the service delivered as per the optimum approach or not as
it reaches to the target through customer by using the brochure, catalogues, direct mail or online
other services through feedback where the consumer access the high loyalty. Monitoring and
controlling it is essential to have proper monitoring and controlling measure so that check and
control can be maintained on performance and quality of new assignment. The monitoring and
controlling of the Tesco company is to giving the immense effective advertising and the having
the strong public relations with continuing the sales promotions, and sales promotion which
generates maximum amount of satisfaction and trilling experience can be provided to customers.
b) As in “Fail to plan and plan to fail” is phrase often associated with marketing planning,
highlight the key benefits to presumes a formal marketing planning process .
The marketing planning for the retail industry as it Fail to plan and plan to fail , is comprissing
that the strategies which has been taken for the future outcomes prediction which gets
unsuccessful. Therefore, the effective marketing plan is basically a well structured and properly
defined written document that provides information about overall plans, strategies and procedure
that are taken by organisations to meet and achieve its business objective (Han and et. al. 2017).
Market plan is basically a tool that provides a complete framework and guidance to execute and
complete a task properly and within the timeframes as well as the growth of the business is
require new vision and mission which can guide towards the succession planning where it leads
for getting positive outcomes by performances through employees. As perspective of an
organisation is having a proper vision, mission and objectives which leads to getting high
formation in premises for accomplish the targets and task oriented workforce. Having a proper
detailed Marketing research before enhancing any form of strategic formulation planning
execution there is necessity to detailed investigate about the market research. It is the most
crucial and prominent role of marketing as all the strategies and plans of an organization are
based on marketing research. For the aspects of marketing team of an organisation works on
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entire world market where they collect and scrutinize the information regarding with the product
and market scenario on which they identify the consumer needs and wants to deliver and fulfil
the demands through marketing plans as such they try to enhance the new creativity and
innovation for the company alignment as to attract the consumers and making with them satisfy
by their comfort near by in built near by shops where people can easily buy as per their
requirement products. To execute formulation and Implementation of strategies- The growth
and performance of an organisation depends on effectiveness of its strategies and polices.
Marketing plays an important role in strategy formation through providing all the relevant
information about current market situation and behaviour of customers thus, lead to better
decision making and effective policy formulation. Somehow, marketing also ensures the
strategy formed must be parallel to over all targets and should align with the aims with the
organisation. To approach Marketing adaptability to making adapt the any plan to make the
requirement of planning successful accomplish of objectives (Bugaris, 2016). According to the
new oragnisation comes in market they are hardly accept the new changes form the market
which performs the better or not be appropriate performances in the market. The adaptability
could be the new resources, tools and techniques, hiring of new workforce which brings the new
scenario in the organisation (Halpern & Sadosky, 2016).
C) In the context of external environment discuss about the meant of the “Boiled Frog”, through
with ana examples of an industry or organisation that has been directly described this way.
The concept of the external environment the enforcement of the outsider influence from
‘Boiled Frog’ aspect is simplifies that a frog put in the boiled water mug it will jump from that as
for his safety. Similarly some of the companies are comes under in this method where in
organisation are not able to get sustain in the market and they get failed due to some sort of
financial crises or other factor of uncertainty. As there is one of the company which is highly
preferred by consumers in United Kingdom but due to unpleasant segment of its it could raise the
goodwill in other countries where they get abolished from there. The company called Hailo
company which is Taxi/cab services provides to the local peoples to help as to make drop to their
destination it is United Kingdom based finding application through online services providers
where its competitor were Uber, Ola and Lyft. By investment of high phase in Hailo company
they could not get reach to the customer expectation as their price was not appropriate for som
reasons, people are not getting satisfied by their services and it get trashed from America (Stahl
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and et. al. 2016). The high preferred taxi and online cabs was running successfully was Uber
where it scrutinized the customer expectations and they work on it but as speak for Hailo
condition could get succeed after that their many corporation companies into different branches
get failed and wraped up from Chicago, North America, Europe etc. Except London was only
country where Hailo get still preferred as online and offline cab services but they have disaster
challenges and failures.
D) Are Services industries said to be the intangible ? Discuss with the three characteristics
which are linked between service industries.
A service industry for the organisation context are mainly focus to deliver the services by
supporting resources to consumer which helps to make fulfilling demands or expectations. In
service industry companies are involved with the retail, sales and distribution, transport,
hospitality companies like hospital, hotels or restaurant etc. As service industry is a itself a
intangiable services where the consumer could not able to store the services factor as they only
feel the sense of experience or they can express the thoughts or view on the services outcomes.
The major three characteristics are follows the services industry aspects which it describes the
benefits and importance of service factor (Almoli, 2018). It is Perishability the services are high
mode in perishable in nature where it provides the significance towards the time to allotment of
service marketing for the consumer in particular period of time duration. By changing of
demand the nature of service is vulnerable by which it fluctuates in the period of time accuracy,
day to day or in seasonal wise. Some time most of the service having their peak demands as high
in nature, moderate and low in nature where the consumer gets aspired to the services quality to
making measured of an particular aspect. Inseparability the personal service cannot be get
separated from individual and some customized personalized services are formatted and
evaluated through simultaneously. Above three characteristics are mainly focus to representing
about the nature of services are vulnerable and intangible through which it is featured for
organisation (Hui & Kelly, 2015).
E) Why it does seems to organisational for more sustainability?
An organisation needs to sustain for the long terms purpose where to fight with
competitors, for business ongoing perspective, profit earning and most important financial
loyalty. As through business approach the creation of long term values by taking in determined
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as the organisation is get to operates as to sustain in the market through marketing factor such as
marketing mix, pestle analysis and other aspects. Before implementing any strategical approach
for sustainability is that to have a proper market research on the particular segmentation of
market as well as on the product and services where it helps to measured the organisation about
consumer preferences. The objectives and situation analysis should have a clarity on which top
level of management could take effective decision where they can evaluate the product
performances in the market situation basis. Employees performances are likely to responsible as
If they will not performed well the company growth could not increase as per the competitor
organisation. On the market Performa analysation the market environment are arising of issues
and problems are frequently related to strategic planning tools which is propounded and manged
by the leaders and managers. It is necessary to properly analysis the current situations and
circumstances so that risk involved and chances of failure can be reduced. The specific business
is required a Swot analysis of the their company which it supports the managers to getting inputs
involved in their aspects as per their strategic formulation. The regular practices of some
marketing factor like promoting the products and communicating with new clients that makes
helps to measured the probability for growth in the business as well as further prediction for
sustainability (Arranz & Müller, 2015). As per the most important role of marketing and its
procedure which aim at creating awareness about product and services of an organisations.
Promotion function of marketing ensures communication of attractive features of product or
services so that attention of large a number of customers can be attracted for enhancing sales of
product. Through above discussion the sustainability of the business is depends upon the
approaches and decision which have taken by authorised top level of management by which it
gives success and helps to retainability in the market.
CONCLUSION
As from this above report summarization about the marketing aspects in different
situations as now it comes to conclude where the marketing segmentation, targeting and
positioning are most reliable featured where it helps to mapped create the awareness and making
them influence for unique segments toward the roles and responsibility. As the other elements
discussed on importance and impact of fail to plan approach by many organisation not get
optimised their strategic planning in terms of business point of view, Boiled frog conceptual to
helps for scrutinized the companies about not able survive in the market, Services are having
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intangible featured where it not keep as stored but only experiences can elaborate the quality off
service and where it is most likely represent. At last the question was business sustainability is
important through which it helps to reach the sustainability aspects in different format.
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REFERNCES
Books and Journals
Almoli, A. (2018). Towards Knowledge-Based Economy; Qatar Science and Technology Park,
Performance and Challenges (Doctoral dissertation, Hamad Bin Khalifa University
(Qatar)).
Almoli, A. (2018). Towards Knowledge-Based Economy; Qatar Science and Technology Park,
Performance and Challenges (Doctoral dissertation, Hamad Bin Khalifa University
(Qatar)).
Arranz, A., & Müller, M. (2015). The Role of Global Connectedness in the Development of
Indigenous Science in Middle‐Income Countries. The Handbook of Global Science,
Technology, and Innovation. 382.
Bugaris, R. M. (2016, March). Applying prevention through design to voltage testing. In 2016
IEEE IAS Electrical Safety Workshop (ESW) (pp. 1-10). IEEE.
Halpern, R., & Sadosky, A. (2016). Impact of a Novel Cost-Saving Pharmacy Program on
Pregabalin Use and Health Care Costs. JOURNAL OF MANAGED. 132.
Halpern, R., & Sadosky, A. (2016). Impact of a Novel Cost-Saving Pharmacy Program on
Pregabalin Use and Health Care Costs. JOURNAL OF MANAGED. 132.
Han, Y. M., and et. al. (2017). Orthopaedic nursing in developing nations: A collaboration
between the Republic of the Union of Myanmar (Burma) and Australia. International
journal of orthopaedic and trauma nursing. 27. 41-45.
Hui, B., & Kelly, W. (2015, November). Collaborative Community Builder: A Digital Platform
for Crowd-Sourcing a Community Vision. In 2015 Annual Global Online Conference on
Information and Computer Technology (GOCICT) (pp. 109-113). IEEE.
Keast, S. L., Skrepnek, G., & Nesser, N. (2016). State Medicaid programs bring managed care
tenets to fee for service. Journal of Managed Care & Specialty Pharmacy. 22(2). 145-
148.
Stahl, S. S and et. al. (2016). U.S. Patent No. 9,359,391. Washington, DC: U.S. Patent and
Trademark Office.
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