Introduction to Marketing

This report provides an introduction to marketing, discussing the use of 7P's to create customer value, SWOT analysis to maintain a competitive environment, the use of Ansoff's matrix in business, and the use of digital marketing to improve business performance.

introduction to marketing

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
2.0- Marketing and use of 7P's to create customer value.............................................................3
3.0- SWOT analysis to maintain competitive environment........................................................4
4.0- Use of Ansoff's matrix in business.......................................................................................5
5.0- Use of digital marketing to improve business performance.................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................1

INTRODUCTION
Marketing refers to set of activities that helps in selling of product and service. Company
uses 7P's formula in their marketing strategy. This report highlights use of Ansoff's growth
matrix and SWOT analysis in companies to improve business performance and decision making
process.
MAIN BODY
2.0- Marketing and use of 7P's to create customer value
Marketing is a function of a company for delivering, communicating value and
good/services to the customers. It includes various activities like promotion, advertising and
selling of products to the customer (Armstrong and et.al, 2018). Main purposes of marketing is to
identify target market, attract customers to purchase products and create valuable image of
company in consumer's mind.
7P's of the marketing mix:
7P's are used when company is reviewing its competitive strategy. It helps organization
to identify issues that can affect marketing plan and it also creates value to the customers. 7 p's of
marketing are as follows:
Product:
Product refers to what company is selling to its customers. It can be luxury item, CPG
products and various services etc. Product should be designed on the basis of consumer's need
and his comfort. Market research should be conducted to identify appropriate product for the
customers (Blythe and Martin, 2019).
Price:
It is an important factor. Product's price should be fitted in a way that it represents good
value for money. Effective pricing can add value to the customer because sometimes they are
happy to pay less for any product. Company should focuses on manufacturing and promotional
cost when calculating price of product.
Place:
Products should be available where target customers find it. Company should use various
merchandising techniques while designing their stores. Some logistics factors like distribution
and storage should also be considered because it can affect product's profitability.
Promotion:

It includes various activities a company uses to attract and aware customers about their
product. Benefits and features of product is highlighted in promotion and advertising.
People:
It includes staff and sales person. Trained staff is needed to provide great customer
service. Trained employees give competitive advantage to the company.
Process:
It includes delivering of products and services to consumers. Product delivery also affects
customer satisfaction and it can also create value to consumers.
Physical evidence:
Some services also include physical elements like packaging, layout design etc. it refers
to various things consumers notice when interacting with product or services. All of these can
create positive image of brand in consumers mind (Chaffey, 2019).
3.0- SWOT analysis to maintain competitive environment
Competitive environment:
It is type situation in which organizations compete with each others. If sellers of same products
and services are more than competition will be more.
SWOT analysis:
It helps company to analyse internal and external factors that can affect business. SWOT
stands for Strength, weakness, opportunities and threat. Strength and weaknesses are related to
company's internal environment and opportunities and threats are related to external environment
and factors (Loredana, 2017).
Strength:
It includes internal factors and internal power that enhance company to achieve its goals.
It can be tangible or intangible. Strength can be described as company's brand image, customer
goodwill, human competencies, financial resource etc. For example huge financial resources,
committed workers and goodwill can called as strengths of company.
Weakness:
It includes competitive disadvantage, negative image of company in consumers mind,
shortage of resources (machinery, low product range) that enables organization to achieve goals.

Weaknesses can be controlled by appropriate efforts. For example if a company has high
turnover rates. It can be reduced by appropriate HRM practices.
Opportunity:
It refers to various favourable factors that can give competitive advantage to the
company. For example if tariff rates are decreased in a country than car manufacturer can sell
more cars to that country. It will increase profit.
Threat:
Threats are various challenges and problematic situation faced by an organization.
Challenges like financial risk, change in laws and policies, more competitors can be called as
threats. It can damage company's business.
4.0- Use of Ansoff's matrix in business
Ansoff's matrix is an important tool used by companies to analyse and design new
business marketing strategy for profit. There are mainly four strategies in this matrix
Market penetration:
It refers to accelerating sales within existing market. It has lower risk. With the help of
this strategy a company can increase market share within present market and can increase profit.
Market development:
In this strategy marketers try to expand existing product to a new market. In this strategy
company expands it product in geographical area and new target market. In this case company
can increase more profit to new market. Adidas and Puma has adopted M.D. Strategy to expand
their business globally (Phadermrod, Crowder and Wills, 2019).
Product development:
Company develops new product within existing market. It needs proper research and new
ideas. Enterprise uses this strategy when he has appropriate knowledge about current market. A
firm can provide its new product to loyal customers to increase profitability.
Diversification
It is the risky strategy. Enterprise is entering in new business with new product. It also
has chance of high return. It is great strategy to increase revenue. It gives company a chance to
settle in new industry to expand business.

5.0- Use of digital marketing to improve business performance
Nowadays digital marketing is used as a marketing tool by many companies. Companies
use this technique to advertise their products through internet. It includes social media, websites,
email and various apps. Digital marketing allows firms to promote their products and services on
social media and internet. It helps companies to create brand awareness and brand knowledge in
consumer's mind. It is more cost effective than other marketing methods. It also helps in
generating revenue for companies by online selling. It can simplify the process of advertising,
promotion and selling (Armstrong and et.al, 2018). Company can attract its target consumers
with the help of online marketing and can also give knowledge about products and services to
consumer through online medium. It also helps in giving quality customer service.
CONCLUSION
This report has explained that marketing is the process of selling goods and services and
7P's help in making marketing plan and strategies. The report has concluded that SWOT analysis
and Ansoff matrix help in decision-making process related to marketing. It has described that
digital marketing plays an important role in improving business activities like selling, advertising
and promotion.

REFERENCES
Books and journals
Armstrong, G.M. and et.al, 2018. Marketing: an introduction. Pearson UK.
Blythe, J. and Martin, J., 2019. Essentials of marketing. Pearson UK.
Chaffey, D., 2019. Digital marketing. Pearson UK.
Loredana, E.M., 2017. The use of Ansoff Matrix in the Field of Business. Annals-Economy
Series. 2. pp.141-149.
Phadermrod, B., Crowder, R.M. and Wills, G.B., 2019. Importance-performance analysis based
SWOT analysis. International Journal of Information Management. 44. pp.194-203.
Online
Sharma, A., 2020, How to Use the Ansoff Matrix to Analyze Risk, Available through
<https://tallyfy.com/ansoff-matrix-analyze-risk/>.
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