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(solved) Introduction to Marketing - Assignment

Added on - 28 Jan 2020

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Introduction to Marketing
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1P1. GROWTH AND SURVIVAL STRATEGIES ALONG WITH BRANDING ANDRELATIONSHIP MARKETING CONDUCTED BY TWO BUSINESS ORGANISATIONS....1P2 LIMITATIONS AND CONSTRAINTS OF MARKETING.....................................................3P3. MARKET RESEARCH USE....................................................................................................3P4. USE OF MARKET RESEARCH IN PLANNING...................................................................4P5 TARGETING OF GROUPS......................................................................................................5P6 MARKETING MIX FOR NEW PRODUCT/SERVICE...........................................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONMarketing is a process of selling goods and services to buyers for gaining profits whichends with satisfying the target customers. The mentioned concept includes promotion,distribution, advertising and delivering product to the end users. Present report is going todiscuss various marketing techniques and its significance in business activities. In addition tothis, report is also explaining the use of marketing research to contribute in the development oforganisational planning. The corporation undertaken for making this report is Tesco which is apublic limited company and dealing in retail industry. Another venture is Harrods which is aprivate limited company that is providing quality and luxury goods to its customers.P1. GROWTH AND SURVIVAL STRATEGIES ALONG WITHBRANDING AND RELATIONSHIP MARKETING CONDUCTED BYTWO BUSINESS ORGANISATIONSMany firms use Ansoff matrix for attaining business goals and objectives. This matrix isa tool for strategic planning which usually provides direction to managers, executives andmarketers. Component of this matrix are market penetration, product development, marketdevelopment and diversification. Ansoff matrix is defining growth, survival, branding andrelationship marketing in context of Tesco and Harrods (Papadopoulos and Heslop, 2014).Growth Strategy:Tesco is a popular company in the UK market and having 500000 employees who areproviding effective services to its customers. Cited venture is successfully using growth strategyfor development of its business in the market. Mainly, Tesco is focusing on market developmentstrategy. As per this approach, firm seeks to achieve growth by existing products in the newmarket. In this strategy, company's main purpose is to expand its business and goodwill in newmarket. Organisation is having large range of existing products which satisfy the needs ofcustomers. Promotion of these products in new market helps in creating positive impression onthe minds of new customers. On the other hand, Harrods is a private sector retail firm in the UKretail industry which is giving various quality and luxury products to its customers and satisfyingtheir expectations effectively (Schaeffer and Balazs, 2015). Growth strategy for cited firm isplaying a significant role and can particularly give emphasis on market penetration strategy forgetting large number of customers in the existing market. With the help of this aspect, firm can
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