Marketing Strategies and Research

This assignment examines the strategies used by businesses to enhance their marketing efforts. It highlights the importance of market research as a tool for gathering data and insights. The analysis also underscores the significance of utilizing collected data to effectively understand and improve business operations.

INTERNET MARKETING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Task 1...............................................................................................................................................3
P1. Describe how marketing techniques......................................................................................3
P2. Describe with suitable examples the limitations and constraints of marketing.....................4
Task 2...............................................................................................................................................5
P3 Describe how a selected organisation uses marketing research.............................................5
P4. Describe how uses information through marketing research for marketing planning...........5
Task 3...............................................................................................................................................6
P5. Explain how and why groups of customers are targeted for selected products.....................6
P6. Develop a coherent marketing mix for a new product or service..........................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
Books and journals.......................................................................................................................9
Online.........................................................................................................................................10

INTRODUCTION
Marketing is a way to introduce your product to your targeted customers in any market.
Today's business world demands every business to adopt a workable marketing strategy so that
they could achieve competitive advantages over their rivals and could generate higher sales and
profits successfully. This marketing strategy should be aggressive and effective. In this
assignment we are going to study the approaches adopted by different companies.
Task 1
P1. Describe how marketing techniques
In this assignment I will be describing the different market techniques of how a business
finds out what a customers want and when trying to develop the business for the future. I will be
talking abou Ansoff’s matrix, branding (Chaffey, 2013). The two businesses that I will be using
in this assignment to help be explain in more detail will be Kellogg’s and Coca- Cola.
Ansoff’s Matrix: Igor Ansoff developed descriptions of the strategies available for growing a
business in 1957. Ansoff’s market growth matrix tells us that businesses try to grow depending
on its markets new or existing in new or existing markets. Ansoff Matrix is a growth strategy
used by companies to decide on their product and how they are going to expand. He identified
four categories for growth.
1. Market Penetration : Market penetration is the increasing amount of existing products
or try to promote a new product though strategies such as advertising, lower prices,
discount. Market penetration is when the company raise awareness for the same products
for the existing market. Kellogg’s use this strategy by bringing new products that can suit
all ages. They do special offers, discounts, and large packages for less. CocaCola selling
more of Diet coke to the same market by selling their products the retailer who are huge
multinational business such as McDonalds.
2. Product development : In product development strategy, a company tries to create new
products and services targeted at its existing markets to achieve growth. Kellogg's
develop and improve existing products and the have such less sugar.
3. Diversification : In diversification an organization tries to grow its market share by
introducing new offerings in new markets. It is the most risky strategy because both
product and market development is required. Cocacola is introducing new products in for
the sports section, like sports drinks.
3 | P a g e

Branding : The process involved in creating a unique name and image for a product in
the consumers' mind, mainly through advertising campaigns with a consistent theme. Branding
aims to establish a significant and differentiated presence in the market that attracts and retains
loyal customers (Malhotra, 2012).
P2. Describe with suitable examples the limitations and constraints of marketing
Limitations and constraints are factors that work as a resource that is currently working at
its full capacity. Limitations and constraints restrict an organization from achieving its potential.
 Sales of goods act 1979 : The sale of goods act 1979 is a law that protects consumers and
ensures goods are as described, and also of satisfactory quality and fit for purpose
(Dahlén, 2010).This law means any products sold must be fit for purpose, for example,
Tesco breached the sales of goods act when they sold meat that was labeled as Beef,
however, it was horse meat, this means that it was not as described, of satisfactory quality
or fit for purpose.
 Data protection act 1998 : The Data Protection Act 1998 (DPA) is an Act of Parliament
of the United Kingdom of Great Britain and Northern Ireland which defines UK law on
the processing of data on identifiable living people. It is the main piece of legislation that
governs the protection of personal data. The Data Protection Act is a law that was put
into place to protect personal data stored on computer, for example, if an organization has
information about a client or customer, the data protection act ensures that the
information isn’t given to those who weren't consented to have the information by the
customer.
 Consumer protection act from unfair trading act 2008 : Consumer protection is to
ensure all consumers are happy with what they have purchased, and they have the right to
receive products that are as described, fit for purpose and also of a satisfactory quality,
for example, Tesco was fined £300,000 for advertising misleading half-price offers on the
strawberries they were selling. Tesco was ordered to pay the fine after admitting to
misleading customers in 2011 by advertising half-price British strawberries for a longer
period than when they were sold at a higher amount.
4 | P a g e

Task 2
P3 Describe how a selected organisation uses marketing research
Market Research is used by Marks & Spencer to help them improve their goods and
services. M&S have made many improvements within their website and international businesses.
They have also increased customers choice by including a variety of products with promotions
which are attracting more customers, therefore increasing their profit (Mentze,2010). Primary
Research carried out by M&S. M&S uses primary research through surveys, questionnaires and
face to face interviews which has increased their customer feedback. By using the primary
research M&S has managed to improve on their products and services by good promotional
offers that are attracting more customers.
Market Research Types. There are two types of Market Research, these are primary and
secondary research. Quantitative, Qualitative and Sampling are also used as types of research for
market research. Quantitative and Qualitative Research carried out by M&S (Chaffey, 2013).
M&S uses quantitative research such as interviews and surveys to get to know the different
customers choices. This has helped them to improve their goods and services. M&S also used
qualitative research to help improve their branding, they did this by looking over previous
interviews and observations.
Secondary Research Carried out by M&S. M&S uses secondary research to find out
about their competitors, they use old reports, surveys and questionnaires to help them promote
their business in a way that their competitors may not have used. By using secondary research
they have increased their range of food products which has introduced many new customers.
Sampling carried out by M&S. M&S uses sampling to get to know their customers more, they
use questionnaires, surveys, interviews and promotions to help them understand their customers.
M&S often give out food samples to gain their customers opinions this helps them to find out
about their customers likes and dislikes.
P4. Describe how uses information through marketing research for marketing planning
T - M&S faces a lot of competition with other companies like H&M. For example Rita
Ora is the Celebrity Ambassador for M&S which increases their brand image as it appeals to
different people. However due to other companies holding stiff competition for M&S. Although
in M&S’s recent advertisements they have attracted many new customers which is increasing the
5 | P a g e

brand's image in a positive way as they are introducing new customers (Taylor, 2015.). M&S
have used secondary research to find out the difference of sales in their clothing line.
W - I have conducted primary research in which I have found out that M&S are losing
out on a lot of customers because they do not have clothing products targeted towards other age
groups. M&S products are mainly targeted to 55 year old and this means that M&S are missing
out on a lot of sales from other age groups. Although, M&S sell clothing to children they do not
necessarily appeal to young people around their 30’s.
O - In order for M&S to attract a wider range of customers they must promote their
products and services in a way that appeals to other demographics (Morrison, 2013). For
example within M&S’s latest advertisements they have included Rita Ora (Singer), and Alek
Wek (Supermodel) whom all appeal to different age groups. This gives M&S the opportunity to
expand its target market. The advertisement promotes women clothing and they do this by
making the above celebrities promote the clothing.
S - M&S has a wide range of products and services which appeal to their target audience,
this is through their good quality products and great value. M&S also have many products which
attract many customers, for example they have their own clothing line for men, women and
children.I have found this out by creating a questionnaire in which I have asked M&S’s
customers to clearly identify what they like most about the store. The majority of the customers
stated that they liked the quality of the products that M&S have to offer.
Task 3
P5. Explain how and why groups of customers are targeted for selected products
In this assignment I am going to explain how and why groups of customers are targeted
for selected products in Virgin. Segmentation is the process of defining and subdividing a large
homogeneous market into clearly identifiable segments having similar needs, wants, or demand
characteristics. Its objective is to design a marketing mix that precisely matches the expectations
of customers in the targeted segment (Masterson, 2010). A target market is the market a
company wants to sell its products and services to, and it includes a targeted set of customers for
whom it directs its marketing efforts. Identifying the target market is an essential step in the
development of a marketing plan.
 Geographical : Geographical segmentation is about the place where the company is
looking at (west, south, north east) or it can be anywhere around the world - any country,
6 | P a g e

city, etc. Virgin is using this as their business is well-known all around the world and
they know what their customers are looking for and how they work hard to give them the
best and satisfy their needs.
 Psychological : Psychological segmentation us about the personality of the customers,
what they like, what they don't like, their lifestyle, etc. This segmentation helps Virgin to
bring new products in the market as they will know what their customers are looking for
and what they want. Virgin uses this segmentation as all their products are made for all
type of customers.
 Demographic : Demographic segmentation is dividing groups according to their age,
gender, financial status, ethnicity or religion of the market and the family life cycle.
Virgin Mobile uses this segmentation as their mobiles for youth, around 17-30 and above,
for businessmen and other.
 Behavioral : Behavioral segmentation helps the business to put the consumer in groups
to keep knowledge of their consumer's behavior towards a specific product. Virgin as a
business uses this segmentation.
P6. Develop a coherent marketing mix for a new product or service
 Price : Price is very significant aspect of the marketing mix as these affects whether
consumer will purchase your product or not. Our pricing strategy (Babin, 2015). I have
selected to utilize the skimming pricing strategy for our new product, this is done to
maximize the profits as we have entered the market with a product before the competitors
enter the market, if however the competitors enter the market with a product similarly or
same then our product will be unsuccessful at making a profit which is the core value.
 Promotion : Promoting the brand is significant as promoting the food product.
Commercial will play an important role in selling the product whilst it will promote the
brand of Nestle's. This will be done by utilizing television commercial, radio, pamphlets,
internet and store promotions. The Nestle company has decided to commission you to
develop a coherent marketing mix for their brand new breakfast cereal product aimed at
children under the age of 16 in the UK to compete with cereal products from Kellogg’s
and Quaker.
 Product : A product can be tangible in the form of goods or intangible in the form of a
service. Goods can also be categorized into three groups. These are convenience goods,
7 | P a g e

shopping goods, and specialty goods. Convenience goods are those which are readily
available and do not require much time or effort for the consumers to make a purchase
decision on. Necessities may fall under this category. Shopping goods, on the other hand,
are those products that consumers tend to spend a little more time deciding on.
 Place : place is the element of the marketing mix that ensures that the product is
distributed and made conveniently available for the consumer at the right location at the
right time (Flick, 2014). It is imperative that, when the consumer comes into the store to
purchase a product, that product is readily available without any issue.
CONCLUSION
In the above report, it has been concluded that in a rapidly changing business
environment with a high competitors' pressure company have to adopt new expansion strategies
or diversified the existing in order to sustain its leading market position in an already established
retailing market. The company must constantly adapt to the fast changing circumstances. It has
been considered that there are several strategies which are used by the company to increase its
marketing and uses market research as a tool to collect the data and information. At last,
utilization of data is also considered analysing the business.
8 | P a g e

REFERENCES
Books and journals
Malhotra, N.K. and Malhotra, N.K., 2012. Basic marketing research: Integration of social
media. Boston: Pearson.
Wilson and et.al., 2012. Services marketing: Integrating customer focus across the firm.
McGraw Hill.
Masterson, R. and Pickton, D., 2010. Marketing: an introduction. Sage Publications.
Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
Mentzer, J.T. and Gundlach, G., 2010. Exploring the relationship between marketing and supply
chain management: introduction to the special issue. Journal of the Academy of Marketing
Science, 38(1), pp.1-4.
Morrison, A.M., 2013. Marketing and managing tourism destinations. Routledge.
Chaffey, D., Smith, P.R. and Smith, P.R., 2013. eMarketing eXcellence: Planning and
optimizing your digital marketing. Routledge.
Dahlén, M., Lange, F. and Smith, T., 2010. Marketing communications: A brand narrative
approach. John Wiley & Sons.
Thorson, E. and Moore, J. eds., 2013. Integrated communication: Synergy of persuasive voices.
Psychology Press.
Babin, B.J. and Zikmund, W.G., 2015. Essentials of marketing research. Nelson Education.
Charlesworth, A., 2014. An introduction to social media marketing. Routledge.
Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A
guidebook and resource. John Wiley & Sons.
Flick, U., 2014. An introduction to qualitative research. Sage.
Armstrong and et.al 2014. Principles of marketing. Pearson Australia.
Shaw, E.H., 2012. Marketing strategy: From the origin of the concept to the development of a
conceptual framework. Journal of Historical Research in Marketing. 4(1). pp.30-55.
Wilson, R.M. and Gilligan, C., 2012. Strategic marketing management. Routledge.
9 | P a g e

Belch and et.al., 2014. Advertising: An integrated marketing communication perspective.
McGraw-Hill Education.
Online
Marketing theory, 2017. [Online]. Available
through:<http://businesscasestudies.co.uk/businesstheory/marketing/marketing-
techniques.html> [Accessed on 16 August 2017]
10 | P a g e