Introduction to Marketing Assignment Solved
14 Pages2691 Words118 Views
Added on 2021-02-20
Introduction to Marketing Assignment Solved
Added on 2021-02-20
ShareRelated Documents
Unit 3 – Introduction to Marketing
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Growth and survival marketing strategies..............................................................................1P2 Limitations and constraints of marketing in legal perspective...............................................2TASK 2............................................................................................................................................3P3 Use of marketing research .....................................................................................................3P4 Utilization of data and information collected through marketing research...........................4TASK 3............................................................................................................................................4P5 Groups of customers targeted for different products..............................................................4TASK 4............................................................................................................................................5P6 Marketing mix .......................................................................................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONMarketing is the process of buying and selling of products and services through differentmarketing strategies such as advertising, personal selling, direct selling etc(Krishna and et. al.,2017). The main aim of marketing is to build relation with customers for satisfying their needsand wants. Present study will be based on John Lewis. It is an employee owned UK company thatoperates in supermarkets, banking and providing financial services.Report will include marketing strategies and survival strategies that helps in branding andrelationship marketing and legal requirements in marketing. It also includes different marketingresearch and plan for future. Furthermore, it will include segmentation, targeting and marketingmix of a new product. TASK 1P1 Growth and survival marketing strategiesAns off matrix is generally focused on present and potential products and markets. Thereare four quadrants that consist of existing product and new product on the horizontal axis andexisting and new market on vertical axis (Kumar, Keller and Lemon, 2016). This strategy willhelp in growth of product in the market. It includes different strategies such as marketpenetration, market development, product development and diversification. Market Penetration:- In this strategy BBC is trying to grow its market share and offeringproducts in the existing market. It helps in increasing market share as in this price is decrease,there is more investment done on promotion and distribution. In John Lewis at this stage productis being sold in the market at lower price. This strategy will help in gaining more advantagethrough different product selling strategy.Market development:- In this BBC is trying to expand its market into different geographicallocation. They provide differentiated product in the market that will help in producing differentproducts. In starting unique product is being sold into the market as there are so many productsavailable in the market. Product development:- In this strategy new product is being developed in the existing marketthat will help in creating new ideas and innovation (Gummesson, 2017). This will help BBC increating more products as it is providing telecommunication services to its customers. Similarly,product development is being provided in the future course of action. 1
Diversification:- In this new product is being developed in the new market. When BBC enteredinto the market then it also introduces new product in the market. At this stage John Lewis is alsointroducing new product in the new market. Therefore, this matrix will help in marketing products and provide relationship andbranding in the market. For surviving in the market innovation will be done so that moreconsumers will attract towards the company. Branding also helps in selling product andincreasing market share for future. Thus, BBC and John Lewis is using strategies for growth andsurvival in the market. P2 Limitations and constraints of marketing in legal perspectiveSales of goods act, 1979:- This law indicate that selling product and services is legal. Forexample: if we are selling a particular product then it will have to give proper description tocustomer regarding its durability. This states that sample that is being provided to the customerwill be same as quality as company is giving in actual (Chandon, Laurent and Valette-Florence,2016). Like some companies is not selling product without providing description into the marketand only show pictures in the newspaper. As diesel also sell its product without use of catalogueit is having legal right to sell. Consumer protection from Unfair trading Regulations 2008:- This law states that sellershave to behave with the consumer fairly and honestly. If they are not behaving good then it willbe unfair trade practice with respect consumer. For example: Kellogg s is selling product and itstrader is not behaving good with consumer then they will not come again to purchase product. Itsprime duty of seller to behave properly with their consumer. Consumer Credit Act 1974:- This law states that consumer are given goods and services oncredit. In this also licensed will be there for credit sale otherwise it will be criminal offence andthe trader may sent to imprisonment. For example:- This law is not applicable to Kellog's as theyare not offer products on credit basis.Consumer protection:- This law states that consumer will be protected from traders as they arenot doing any fraud with them regarding product and services. For example:- Kellog's and Dieselis selling products and services to its customers by fairly means not doing any fraud withcustomers. Distance Selling:- This law is related to purchasing product online. It can be purchased throughmail, social media networking or any other digital platform etc (Williams, 2017). For example:2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Unit 3 - Introduction to Marketinglg...
|14
|3641
|49
Research on Internet Marketinglg...
|10
|2966
|46
Report on Marketing Techniques Doclg...
|9
|2759
|54
Introduction to Marketing Assignment - Amazonlg...
|14
|3508
|247
Business Strategylg...
|11
|2421
|99
Assignment on Selling and Sales Managementlg...
|6
|1577
|24