An Introduction to the Principles of Marketing : Assignment

Added on -2020-11-23

We will cover marketing and its activities, market segment, marketing principles, marketing mix, market research, and e-marketing. Use of market analysis tools and techniques. Marketing plays a key role in increasing the sales and profitability of the company. Here, we discuss Sunrise Stores which is a small retail firm that offers grocery products to customers. Market analysis is also done by using various tools and techniques as well as the way in which firm manage their online image is defined. Findings of market research and analysis is interpreted and present in this project.  It involves the coordination of 4 components which are called 4P's of marketing.

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MARKET PRINCIPLE ANDTECHNIQUES
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................3Marketing....................................................................................................................................3Market segmentation...................................................................................................................4Marketing mix.............................................................................................................................4TASK 2............................................................................................................................................52.1 Aims of research and market analysis ..................................................................................52.2 Methods of market research .................................................................................................52.3 Market analysis tool .............................................................................................................7TASK 3............................................................................................................................................7Methods utilized for e-marketing................................................................................................7Ways by which online image are manage by firm......................................................................8TASK 4............................................................................................................................................83.1 Use of market analysis techniques .......................................................................................83.2 Interpret the findings ............................................................................................................83.3 Present your finding .............................................................................................................9CONCLUSION ...............................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTION Marketing is defined as a process which includes various activities of an organisationrelated to buying and selling of goods or service. This concept is used in businesses in order tocreate, retain and satisfy customers (Arcaro and et. al., 2013). It is a vital function that assist ingrowth and success of company and also helps in attracting large group of customers. Thisassignment is based on Sunrise Stores which is a small retail firm that offers grocery products tocustomers. The report covers marketing and its activities, market segment, marketing mix,market research and e- marketing. Market analysis is also done by using various tools andtechniques as well as the way in which firm manage their online image is defined. Findings ofmarket research and analysis is interpreted and present in this project. TASK 1MarketingMarketing is identified as a management process by which products, services or processmoves from concept to consumers. It helps in attracting and retaining more number of customersand maintaining a large consumer base. Mainly, firms use marketing concept in order to promotetheir goods and services in market & communicate their value and benefits to customers.Through marketing, high quality products are offer to consumers that provides some value tothem and satisfy their needs. It involves coordination of 4 components which are called 4P's ofmarketing. These are:Determination, selection & development of product. Determination of price.Choice of distribution channel to reach place of customer. Development and execution of promotional strategy. Various activities are performed by marketing department in order to attain goals and objectivesof company. Some of these activities are defined below: Promotion: One of the main activity of marketing is promotion of goods and services inmarket in order to aware customers about them and communicating its value and benefits. Ithelps firm in attaining high sales and profits (French and Gordon, 2015).Market research: In order to make business more successful, activity of marketingresearch is also done by marketing department. It assists firm in determining prevailing trends of

Basic Principles of Marketing

The conclusion of the research is classified into two categories namely Primary and Secondary research. Assessing marketing principles and techniques in the context of Sunrise Stores which is a small retail firm that offers grocery products to customers. The report covers marketing and its activities, market segment, marketing mix, market research, and e-marketing. With the help of these techniques, it becomes easier for Sunrise Store to identify the existing problems and then formulate strategies accordingly. According to the mentioned report, it can be concluded that marketing plays a key role in increasing the sales and profitability of the company. Findings of market research and analysis are interpreted and presented in this project. In addition to that market research, marketing mix, e-marketing has also been discussed above that help company in carrying out their business operating smoothly. "Principles and Practice of Marketing" has been examined successfully.

 

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