Introduction to Marketing

This report provides an analysis of the marketing mix and strategies for expansion for Whitehouse farm, a dairy industry operating for 50 years. It discusses the elements of marketing mix, the need for improvement in pricing, promotion, place, and product. It also explores the impact on revenue, profit, and loyal customer base, and the importance of adapting to market trends.

INTRODUCTION TO
MARKETING

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
1. Elements of marketing mix......................................................................................................3
2. Marketing mix for extension of marketing mix.......................................................................4
3. Impact on revenue, profit and loyal customer base.................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
There are a lot of factors which have to be considered by organization which wants to
expand them and have a strong market base for them. The competition in the market also has to
be considered and accordingly the strategies for expansion have to be well planned. Whitehouse
farm has been operating for 50 years and wants to expand them. The revenue per annum of the
farm is £30,000 and there are fresh farm products which are being given to the customers. In this
report there is an analysis of marketing mix and the factors which can be improved so that the
organization can easily expand them.
MAIN BODY
1. Elements of marketing mix
Marketing mix is a framework which helps organizations to understand and helps in
having an effective marketing plan for them. This framework which is implemented by
organization can make the four P’s of this model be improved and have a better market share for
the future.
 Price
Whitehouse farm is having a higher price of the products than the other farm which is
making the organization have a limited customer base. It is very important for the organization to
have a better price strategy for them so that they can improve the customer’s satisfaction which
is going to improve the standards and reputation of the organization resulting in higher profit
margins (Sahaf, 2019). Whitehouse farm is thinking of expanding which needs a lot of
investment which is the organization will have to make the prices of the products fall so that they
can get more customers which is going to help the organization increase their revenue for further
investment.
 Promotion
The farm is putting out on the chalkboards outside the farm so that they can update the
customers and also they have put up posters in the surrounding villages for the promotions. This
is only going to get in low amount of customers which are aware of this farm. This is not going
to help Whitehouse farm to get in more customers in the organization and this is not good for the
organizations long run. Whitehouse farm has been in this dairy industry for 50 years and if the
competitor is doing better than the farm will have to change their operations accordingly.

 Place
Right now the Whitehouse farm has only one shop which is also on the premises so that the
customers can find it easier for shopping and looks good for the farm as well. This shop also
came up 6 years ago which is why it is very important for the farm to open more shops so that
they can be visible to the customers. The customers will not be aware of products till they do not
see a shop (Mullin, 2018). There are a lot of customers which are exploring store which can be a
great advantage for the organization.
 Product
The products which Whitehouse farm is serving are milk, cheese, few flavours of ice cream,
eggs, meat, cakes and pastries but this is still low for the organization. The competitor for this
farm is 8 miles away who is giving more varieties to the customers. There are fresh fruits,
vegetables and craft supplies which they are offering. Whitehouse farm will also have to be
innovative and get in more products and varieties in their products so that they can compete with
the other farm.
2. Marketing mix for extension of marketing mix
There is a requirement of a lot of strategies which the Whitehouse farm will have to get
so that they can have a better market share for themselves. The competition in this dairy industry
is also increasing which is why the farm that has been in this industry from 50 years will have to
change their methods and strategies according to the customers. The prices of the farm have not
changed which is why the farm is having such a great competitor in the market. The company
will have to make them visible for the customers only then the customers are going to be aware
for the products they are having in the organization. Prices of the products in the competitive
farm is low because they would not have been in this business for long and wanted to make a
place for themselves in the market (Fill and Turnbull, 2016). The portfolio of Whitehouse farm is
limited and it is very important for the farm to expand them in the market so that they can have a
better functioning for themselves in the market. The reputation has to be kept up in the market
which will make the organization have a better functioning. Higher the cost of the products the
lower customer base the farm is going to have which is why the farm will have to provide the
best of services and products to the customers so that they can have a better base for themselves
in the market.

The Farm has not expanded them as well in an area where they can get more customers in
the organization. It is very essential for the farm to make them more visible in the market so that
they can have a better functioning for themselves. For promotions not just the Whitehouse farm
will have to put out more posters and chalkboards but they will also have to make more shops in
which their products are being sold at a low price which is going to help the company have a
better market for themselves (Andersson, Axelsson and Rosenqvist, 2018). There are limited
flavour in ice cream which needs to be improved and the organization must have more products
which can make them have more varieties for the customers which would make Whitehouse
farm have more customers base resulting in higher profit generation. The competition in the
market is increasing and it is very important for the organization to have better strategies for
themselves so that the farm can have higher revenue and competitive advantage as well in
market.
3. Impact on revenue, profit and loyal customer base
There are a lot of factors which can make the Whitehouse farm get back their profit
margins higher and the customers back in the farm. The organization needs to change with time
which is the weakness of the farm, they will have to expand and make themselves more visible in
the market. Threats are the competitors which are coming up in the market which is why
Whitehouse farming will have to get in the changes in the organization effectively so that there is
a better functioning (Farhadi, Slambolchi and Alhosseini, 2017). The strength of the farm is that
they have been in this field for 50 years which is why they will be able to get in the changes
effectively and plan accordingly. There is a lot of opportunity for this industry in the market
because there are a lot of customers which need fresh and healthy dairy products.
The political parties are the same and there have to be a lot of policies which will have to
be followed by the organization if they expand themselves in the country as well. There are
going to be more labours which would be added in the shops therefore there are going to be more
laws and the customers also have to be given their rights by providing them with proper
information of the products. The economic factor of the organization is going to increase if the
pricing of the products are reduced for the customers because on an average customers do not
want to spend much on dairy products but if they are for a fair price then they do not mind. There
is a use of basic technological aspect which does not need much of investment which can add up

for higher revenue generation. The pricing of the products have to be according to the customer’s
per capita income so that the customers are satisfied and loyal to this farm. It is because the
organization is not getting in changes according to the customers which are why the company is
not being able to do so well (Christopher, 2016). The competition is increasing rapidly which is
why it is very important for the organization to get in changes effectively so that the reputation
and the brand image in the market can be intact and the company will find it easier for expansion
in future.
CONCLUSION
From the above report it can be concluded that there is a need for businesses in the
market to analyse the market before they make plans and decisions for the growth or operations
of the organization. There are a lot of trends and needs of the customers which have changed
over time which has to be followed by farms as well and have to improve effectively. The
changes have to be considered because this will help the organization have loyal customers and it
can be done with the help of analyse of the market in which the organization if functioning
within.

REFERENCES
Books and Journals
Andersson, P.E.R., Axelsson, B. and Rosenqvist, C., 2018. Organizing Marketing and Sales.
Emerald.
Christopher, M., 2016. Marketing: an introductory text. Macmillan International Higher
Education.
Farhadi, S., Slambolchi, A. and Alhosseini, S.E., 2017. Sensory marketing: A review and
introduction. Scinzer Journal Of Accounting And Management. 3. pp.103-107.
Fill, C. and Turnbull, S.L., 2016. Marketing communications: brands, experiences and
participation. Pearson.
Mullin, R., 2018. Promotional marketing. Routledge.
Sahaf, M.A., 2019. Strategic marketing: making decisions for strategic advantage. PHI Learning
Pvt. Ltd..