Introduction to Marketing - Virgin Group

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Introduction to Marketing.
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P 1 Marketing techniques like growth strategies are utilized by two selected organization.......1P 2 Limitation and constrains of marketing in relation to legal requirement..............................3TASK 2...........................................................................................................................................4P 3 Utilization of marketing research contribute to development of marketing plan of oneselected company........................................................................................................................4P 4 Utilization of collecting information through marketing research for marketing planning..5TASK 3...........................................................................................................................................6P 5 Ways and reasons for targeted group of consumer for selected goods.................................6TASK 4...........................................................................................................................................8P 6 Develop marketing mix for new product or services............................................................8CONCLUSION...............................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONMarketing is determined as satisfying requirements and desires through exchangeprocedure. It is the management procedure which accountable for determining, evaluating andsatisfying consumer requirements profitably (Lovelock and Patterson, 2015). This study is basedon National Health Services and Virgin Group. National Health Service is the publicly fundednational healthcare system for each constituents' nation of UK. Virgin Group is Britishmultinational venture capital conglomerate founded by entrepreneur. Report will explainmarketing techniques such growth strategies are utilized by two selected company. It willdescribe limitation and constrains of marketing in relation to legal requirement.TASK 1P 1 Marketing techniques like growth strategies are utilized by two selected organizationAnsoff's Growth Strategies:It is the strategic planning technique which gives framework to aid administrator, seniormanager devise concepts for upcoming development. There are four growth strategies such asmarket development, diversification, market penetration andproduct development.Market Penetration:The organization tries to accomplish development with existing goods in their currentmarket segments that purpose to raise the market share.The market of organization that theirexisting goods to their existent consumers (Kotler and et.al., 2018). This refers to raise revenueby promoting the goods, locating the brand etc. This kind of strategy is least risky since itleverages various existing resources and capabilities of the organization. There can exist chancesto raise market share in case challengers reach capacity limits.Market Development:The company tries to growth by targeting their existence goods to new market segments.For example:The market of company that their existing goods range in the new market withmedium risk. This refers to products remains the same, but it is marketed to new consumergroup. If the core competencies of company are related more to particular good than to theirexperience with particular market segment, so that development of fresh market can be goodapproach (Ansoff's Matrix,2010). This kind of strategy has more risky rather than marketpenetration approach.1
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