Introduction to Marketing

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: