Introduction to Marketing

This document provides an introduction to the concept of marketing, including the 7Ps (product, place, price, promotion, physical evidence, people, and process) and how they create customer value. It also explores how businesses use marketing to remain competitive and the use of digital marketing for performance improvement and growth.

Introduction to
marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
What is marketing and how 7p,s create customer value.............................................................1
How business use marketing to remain competitive. .................................................................3
Ans off matrix and use in business.............................................................................................3
How business can use digital marketing to improve its performance and growth. ....................4
CONCLUSION ...............................................................................................................................4
REFERENCES................................................................................................................................6

INTRODUCTION
The activity covers buying or selling of a product as well as promotion also is known as
marketing. The main aim of this is to produce the revenue for a variety, organization or a
company. Marketing teams acquire by the execution of strategic digital functions such as drive
traffic, qualified leads and sales in direct collaboration with their sales team (Ailawadi and et. al.,
2020). It is an activity that developing communication bringing and exchanging offerings that
have value for consumers, clients, partners and society at large. The primary function is to attain
the customer for the company, so business can run smoothly and significantly. It influence
customer to purchase the product. It includes various types of marketing such as digital
marketing, social media marketing, content or many others. Marketing consider product, price,
place, people. In the context of big brand, organization hire celebrity, popular personalities for
their endorsements. The major aspect of marketing it is all about to gain fund and fulfil the need
and demands of the consumer. It includes various activities for promotion such as:
advertisement, selling, sales and promotion, public relations and direct marketing. This report
compose of 7p,s It can be included how can be create customer value, how business use
marketing strategy to earn the profitability.
What is marketing and how 7p,s create customer value.
It include different type of function in term of promotion of goods and services that
performed by an organization in order to attain massive competitive advantage from aggressive
marketing competition. It is all about to make sustain relationship with customers and market
place. In the relation of price marketing cost and distribution expenses as per the assumption of
all included cost that will set the price of particular product. It also attracts the audience with the
help of advertising to accomplish valuable audience (Deepak and Jeyakumar, 2019).
Best product service plan
Invention strategy it is the basic part of product design, it involves team who is
responsible for developing the product. It also defines the course of action that company must
develop a product.
First of all, identify targeted addressees, poor product market fit is one of the most
collective reasons to start up disappointments. Organization must define the product vision.
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Elaborate current state and target condition.
Stay in sync with other teams.
Effective distribution
It gives consumers with convince in the form of availability, it include the whole process
of product when, where, right time, place or product and authorization to purchases.
7 p's of marketing including product, place, price, promo, physical, people and process.
These all element develop the customer value, In the prospective of product, organization are
responsible for giving best quality products for their customers and it involve the every aspect of
product such as design, quality, features, market positioning, packagings and options (Boyd and
Koles, 2019). If company will work on these elements definitely quality product will come.
This thing develops consumer value.
Price: In the context of market, organization have to keep high price product than
competitors to create the impression of a higher quality offering. As per the customer
requirement, they want high quality product with affordable price, it will also enhance consumer
value.
Promotion: it includes advertisements, canopy, content marketing, scheduled discounts,
e mail marketing display, public relations or many others that give that give preference to the
product for the consumer. It is beneficial for customers, they are able to see reviews and check
prices so they willing to buy product (Chaffey, and Ellis-Chadwick, 2019). After buying the
product by customer organization sent thank you email with the help of marketing automation,
this activity includes consumer value.
Place: It involves place where organization sell the product or allow aces company
goods and services.
People: those people are part of the organization and put their effort to sell the product
or service, conniving it, managing teams on behalf of customers.
Physical evidence: It is very essential for customers to know that the brand are buying
from or interacting with and well actually exist in life.
Process: It is the last ingredient of marketing mix, it involves series in action that are
taken distributing the product and service to the customer. It assessing the overall characteristics
in term of sales funnel, payment system, distribution processes and managing customer relations.
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How business use marketing to remain competitive.
Innovation is the key, to start a business organization have to be new ideas, concepts. So
that business can compete easily with competitor. They have to know who is the competitor
because company make best product in affordable price (Thaichon, Brown and Weaven, 2020).
Company have to know targeted audience so that customer footfall will increase and business
can run smoothly and significantly. Organization have to concentrate on its strength and work
on internal operations, it is not about cost cutting, it means best quality of product and services in
affordable price.
SWOT analysis stands for strength, weakness, opportunity and threat of the organization.
In prospective of tesco, the strength is biggest grocery retail in the UK that has higher sales and
revenue as associated to other super market chains.
The concern organization has launched so many different forms of stores such as tesco
home plus, metro, superstore and one store.
Weakness
monetary errors: Due to its high debts and credit card liability and its financially profits
are intensely exaggerated.
Low cost approach: In UK Tesco is the price spearhead and it's low strategy reduce
profits margins.
Opportunities
Online shopping: It has the occasion by growing and advancement its online shopping
enterprise as well as home delivery services.
Strategic associations with other varieties: Organization developing their strategic
partnerships with reputed companies and it can offer a best occasion for this company.
Threat
Economies crisis and credit crunches: Government changed their rules and regulation so
company faced tax issues, credit crunches and monetary challenges that can affect the
operational efficiency and performance of the organization.
Ans off matrix and use in business
Ans-off matrix includes the frame work to assist the executives, higher authorities and
marketers devise strategies for future growth. It is also known as product market expansion that
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used by organization to analyse and plan their strategies for growth. In the prospective of tesco, it
has been able to expand its business well since its inception. This strategy is assisted it enhance
its market share and the utilization of goods through existing consumers. It decided by big price
drop to pursue the strategy of market penetration. It simply means enhancement of sales of its
current product to attracting new consumer from its competitor (Foltean, 2019). This company
has business strategy to acquire sustainable competitive advantage.
How commercial enterprise can use digital marketing to improve its presentation and
development.
Digital marketing encourage the occupational website and online sales through making
enterprise more observable and accessible to a wider range of customers those are already
penetrating for goods and facilities in the organization. It also helps to connect with their
customer base. It is very beneficial for the organization because digital marketing is a less time
consuming and attain high customer footfall. It assist to improvement the occasion to create
more consistent marking. It is more practical and effective than out-dated marketing.
Organization are able to conduct more targeted marketing. Most of the people find the goods and
services they are look by search engines such as google, without an appropriate search ranking.
Online marketing assist business by allowing the target the consumer that are most likely to buy
products or invest in enterprise services (Park, 2020). Online marketing can deliver excellent
return of investment than traditional media and marketing channels. Digital marketing it is a flow
of targeted traffic converts into sales and leads. It gives advantage in terms of global reach
that allow platform to find new markets and trade globally for only a investment. Second
aspect is lower cost, a well targeted digital marketing campaign can attain the appropriate
customer at much lower cost than out-dated marketing methods.
CONCLUSION
It is inferred from the above report about findings such as, scope of marketing in the
business, it is responsible for promoting of goods and services and also use digital marketing that
assist to attain more customer to compete with competitors.
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REFERENCES
Books and Journals
Ailawadi, K., and et. al., 2020. Introduction to the Special Issue on Marketing Science and
Health. Marketing Science. 39(3). pp.459-464.
Boyd, D.E. and Koles, B., 2019. An introduction to the special issue “virtual reality in
marketing”: definition, theory and practice.
Chaffey, D. and Ellis-Chadwick, F., 2019. Digital marketing. Pearson UK.
Deepak, R.K.A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Foltean, F.S., 2019. Bridging marketing theory-practice gap to enhance firm performance:
Introduction to the special issue. Journal of Business Research, 104, pp.520-528.
Park, S., 2020. Marketing management (Vol. 3). Seohee Academy.
Thaichon, P., Brown, J.R. and Weaven, S., 2020. Special issue introduction: online relationship
marketing. Marketing Intelligence & Planning.
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