Introduction to Marketing

This document provides an introduction to marketing, including its definition and purpose. It discusses the impact of marketing mix elements on total revenue and suggests improvements in each component. The document also assesses factors for brand extension and offers insights on what makes a brand a good brand. It concludes with a discussion on the impact of various factors on revenue, profit, and loyal customer base.

Introduction to
Marketing
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Table of Contents
1.0 INTRODUCTION.....................................................................................................................1
1.1 Overview of company......................................................................................................1
2.0 Impact of marketing mix on total revenue.......................................................................1
3.0 Improvements in components of marketing mix..............................................................2
4.0 Considerations of various factors for brand extension within mix elements...................3
5.0 Assessment of what would make a brand a good brand...................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................5

1.0 INTRODUCTION
Marketing is an activity of teaching customers why they select one company products
over the competitors. This is the method of buying, selling and promoting the services and
products in front of the customers. It is a set of institution for innovating, delivering, exchanging
and communicating the product and services that have worth to consumers, partners and
community in a wide scope.
1.1 Overview of company
Whitehouse farm is one of the home located dairy farm at united states. Six years ago they
opened a shop on their property which specialise in selling the farm products. Although this
project report explained the essentials of marketing mix i.e. price, promotion, product and place
that currently used by the Whitehouse farm and in what ways it impact on business total
revenue(Andrews and Shimp, 2017). For this marketing consultant do some changes by
installing new marketing strategies and make a brand a good brand.
2.0 Impact of marketing mix on total revenue
Marketing mix refers to the set of behaviour, action or tactics that Whitehouse farm use
to promote its brand and sell its products in the current market. They consist of 4 elements i.e.
product, price, place, promotion.
2.1 The Product- It refers to that goods and services that actually being sold by the
company to its customers. In context of Whitehouse farm, the offerings that they offers to its
customers are dairy products such as milk, flavours ice-cream, cheeses, cakes, pastries, eggs and
minimal meat products. The effect of this component creates a negative impact on business
revenue of the firm because their competitors sell fresh-farm products as well as customers
fruit,craft supplies and vegetables this will easily attract the customers and they frequently buy
that product this will reduce the profitability of Whitehouse farm(Armstrong and et. al., 2018).
2.2 The Price- This element affect the purchasing power of the user and consider to be
the complex in buying decision. Currently Whitehouse farm use cost- plus pricing which means
charge a small percentage over the total cost and that they only sold their products in the farm
itself. The impact of this element is positive on the total revenue of the firm because it attract
number of customers at a time. The price of product is not so high that was easily affordable to
every people.
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2.3 The Place- It refers to the distribution channel that a company use to moved their
products from manufacturer to consumer. Whitehouse farm sell their product offering by its farm
shop only because of this they cannot attract the wide customers. On the other hand, there are
many supermarket available in the market which sell their products online and buyers prefer to
purchase because it saves a lot of time. Hence, it reduces it total revenue(Roberts, Kayande and
Stremersch, 2019).
2.4 The promotion- It is the powerful element to attract number of customers.
Whitehouse farm use chalkboards and posters to advertise their products in front of their targeted
customers. This will negatively affect the business revenue because the methods they used are
outdated in today's trendy world. This chalkboards and posters only attract existing customers
who live in the same locality. This type of promotion cannot attract the new customers because
currently people attract by innovative and creative ads(Atwal and Williams, 2017).
3.0 Improvements in components of marketing mix
In context of Whitehouse farm, marketing manager do some changes to extent its brand
by using various marketing mix element. Here the firm changes its promotional tools, pricing
methods, product development and the distribution channel. These elements of marketing can be
explained below.
3.1 Value- based pricing- It is used for pricing marketing mix. Marketing consultant of
the Whitehouse firm suggest the right pricing strategy for its products and services depending on
the environment in which its operates. In this farm will follow the value- based pricing to sell
their products in the market to satisfy the customer needs and desires. Here the price of the goods
and services based on the customer perception of value. This pricing method will improve the
brand extension and attracts wide range of buyers. However this pricing strategy is suitable for
the firm and its products after analysing and studying the local market and the rivalry
firms(Hadland and et. al., 2019).
3.2 E-commerce – This strategy is used for place element in marketing mix. A marketing
manager of Whitehouse farm decided for establish their market at e-commerce where they attract
many buyers at a time and contains low cost. The implementation of this type of strategies focus
on availability of product offering at a right place and at a right time. They use e-commerce
trading of product and services where they easily communicate their consumers via messages,
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online chatbots etc. the best advantage to apply this strategy is providing goods where the
demands are high, providing information regarding the products and services they offered.
3.3 Products differentiation- This strategy is used in product. Whitehouse farm is
required to innovate or differentiate its product range to attract new customers. For this
marketing manager of the firm make a product differentiate strategy for brand extension for
which they thinks to introduce new offerings like farm tea and species in which tea is the
important product. Therefore, industry make a fermented tea that undergoes microbial
fermentation and later on pressed into cakes and bricks for ageing and this will all done in the
farm itself and use organic species in them. This improve digestion and help in weight
management of the user and gives fuller satisfaction to them. Implementing this strategy for
brand extension is useful because it helps in increasing profitability and revenue of the
enterprise(Deepak, and Jeyakumar, 2019).
3.4 Social- media- This strategy is implemented in promotion strategy of marketing mix.
Here the marketing consultant of Whitehouse farm introduced their business by using the digital
marketing strategy via social media like Facebook, Instagram etc.. Therefore, a farm apply social
media to promote their products and services and attract number of customers and it covers wide
market area(Haider and et. al., 2017). By using this they increase their brand extension of the
firm. By using this customers can easily give their feedbacks via Facebook ,Instagram etc. It is
very important to implement this strategy to easily and economically attracts numbers of
customers and increasing revenues.
4.0 Considerations of various factors for brand extension within mix elements
Yes these strategies are implementable by the Whitehouse farm company in the extension
of a brand. Value based pricing helps in earning the profits by attracting more and more
peoples because in this they cannot charge the high price of the products they offers. This
will assist in acquiring the competitive advantage at the local level.and for promoting the
business they use social media strategy which is also very cost effective and attracts and
covers the wide market area. By using the product differentiation they will bettering the
image of the brand and it is a successful tactics that is used by the owner of the company
for brand extension. It also enhances the revenues and profits and growth of the firm.
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5.0 Assessment of what would make a brand a good brand
For make a Whitehouse farm brand a good brand, company can clearly focus on their
vision to provide healthy dairy products to the customers and earns a higher profits with
customer satisfaction (Terech, 2018).
To make a brand a good brand company can know and timely analyze the target customers
who purchase products on a regular basis for them they provide discounts and sales on the
peak seasons this will help in retaining the customers for the long time (Haider and et. al.,
2017).
Focus on the competitors products helps in increasing the brand image in front of many
customers in such a way that they will differentiate their products from the rival firms that
will attracts more and more customers. This helps in maintaining the brand image in the
eyes of the consumers for the long time.
Impact on revenue, profit and loyal customer base, with considering elements
Consultant of Whitehouse farm evaluate the various factors that would help in creating a
brand a good brand. A good brand means to clear focus, defined mission, knows the target
customers, key values which reflects a brand identity in a very reflective ways. There are
multiple factors that create a good brand are as follows.
 Here, the economic factor affect the UK market because of Brexit present in the country
it will reduces the personal income and creates a economic crises. But in this, Whitehouse
farm see the opportunity as per above mentioned strategy firm use value-based pricing in
this they choose the price as per customer perception. However, this will attract more
customers, increase loyalty and the proficiency of the industry. And this will see as a
strength of a farm company(Homburg, Jozić and Kuehnl, 2017).
 There are many social and cultural environment changes taking place in the UK that may
highly impact on the Whitehouse farm brand image. Therefore, the firm will take it as a
opportunity because of changing environment they deal in different product range that
directly expand the market share and this will help in increasing the number of
customers. Company use the e-commerce trade by seeing the culture of UK and place
their product as per the demand of the product offerings. This will positively impact the
revenue, profit and loyal customers towards brand(Zhang, Pitts and Kim, 2017).
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 Political factor is the biggest environmental cause to alter ads,design a produce and
overall brand image. However, IN UK Brexit has created uncertainties and political
debates which greatly impact the supermarket stores in a immense way that would create
a opportunity for small firm like Whitehouse farm to follow a flexible environment
which would help in increasing a brand image by clearly focusing on the external
environment. This factor also generating revenue and loyal customers in positive way.
 In today's changing environment people are more internet savvy and not read
newspapers,television etc. new technology is developed day by day to communicate,
promote and sell their products to its potential customers. Here the Whitehouse farm, use
social media to promote and attract the goods and services. Therefore by using innovative
technique company share their vision, mission, values and their offerings to their ultimate
customers. This will create a opportunity to cover wide market and attract different
location buyers in a very small time and very low cost. It would increase a brand image,
revenue and profits of the firm(Parsons, Maclaran and Chatzidakis, 2017).
CONCLUSION
Form the above report it has been concluded that marketing is an effective tool to
buying,selling and promoting the goods and services by using various marketing element such as
product, price, place, promotion(Terech, 2018). Whitehouse farm evaluate their brand image by
using four marketing elements and after applying best strategies according to the product, price,
place and promotion. At last this report identify the opportunity and threats that create a impact
on a brand and make a brand successful. For this company use pest analysis and evaluate all the
facts and figures that would help in become a brand a good brand.
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REFERENCES
Books & Journal
Andrews, J. C. and Shimp, T. A., 2017. Advertising, promotion, and other aspects of integrated
marketing communications. Nelson Education.
Armstrong, G. M. and et. al., 2018. Marketing: an introduction. Pearson UK.
Atwal, G. and Williams, A., 2017. Luxury brand marketing–the experience is everything!.
In Advances in luxury brand management (pp. 43-57). Palgrave Macmillan, Cham.
Deepak, R. K. A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Hadland, S. E. and et. al., 2019. Association of pharmaceutical industry marketing of opioid
products with mortality from opioid-related overdoses. JAMA network open. 2(1).
pp.e186007-e186007.
Haider, A. A. and et. al., 2017. Marketing Management. Head, B, p.22.
Homburg, C., Jozić, D. and Kuehnl, C., 2017. Customer experience management: toward
implementing an evolving marketing concept. Journal of the Academy of Marketing
Science. 45(3). pp.377-401.
Parsons, E., Maclaran, P. and Chatzidakis, A., 2017. Contemporary issues in marketing and
consumer behaviour. Routledge.
Roberts, J. H., Kayande, U. and Stremersch, S., 2019. From academic research to marketing
practice: Exploring the marketing science value chain. In How to Get Published in the
Best Marketing Journals. Edward Elgar Publishing.
Terech, A., 2018. An Introduction to Marketing and Branding. Generations. 42(1). pp.45-49.
Zhang, J. J., Pitts, B. G. and Kim, E., 2017. Introduction: Sport marketing in a globalized
marketplace. In Contemporary Sport Marketing (pp. 3-22). Routledge.
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