Marketing Principles and Applications

This assignment requires an analysis of fundamental marketing principles and their practical application across diverse contexts. Students are expected to examine core concepts such as market research, segmentation, targeting, positioning, branding, and promotion. The analysis should delve into how these principles contribute to the development and execution of successful marketing strategies.

PRINCIPLES OF MARKETING
AND COMMUNICATIONS IN A
DIGITAL WORLD

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
1) DESCRIPTION OF NEW PRODUCT.......................................................................................1
2) MARKET RESEARCH FOR LAUNCHING NEW PRODUCT...............................................3
3) MARKETING MIX FOR PRODUCT........................................................................................5
4) SELF REFLECTION ON INDIVIDUAL PERFORMANCE....................................................7
CONCLUSION................................................................................................................................8
REFERENCE.................................................................................................................................10

INTRODUCTION
Marketing and communication is effective tool of any organisation for launching and
sustaining products in market. It involves advertising, branding, packaging, online services and
public relation activities for long term sustainability in market. The present report is based on
understanding different marketing aspects for The Matrix which provides haircare services and
its products to million customers worldwide. In this regard, it is determined that organisation is
going to launch new hair care shampoo. Therefore, all strategies including market research and
sustaining position globally is to be described. Including this, several marketing terms as
segmentation, target and positioning are to be expressed through this assignment. Likewise,
marketing mix for new product and strategies is to introduced for promoting product and
improving profitability of entity. Thus, learners are able to understand different marketing
strategies and tools for setting up and promoting new product of Matrix by studying this report.
1) DESCRIPTION OF NEW PRODUCT
The Matrix is one of the great hair care service provider of UK that provides its
hairdressing products and services on large scale in international market. It establishes good
relationship with customers including retailers, agents and other business entities effectively
(Blakeman, 2014). Moreover, it builds up trust among societies of different countries of the
world efficiently that influences its marketing and competitive strategies. It has determined that
entity has good reputation in global market in which demand for its products and services get
enhanced at high level. Including this, it has identified that entity get succeed to meet customers'
expectations mostly which remains great for sustaining its market position long time period.
As per the case scenario, it is gained that organisation requires to launch its new hair care
product (Cooper, 2016). For this purpose, all details related to marketing and advertising of
goods are required for competitive advantages. However, description of product can express as: Product quality and used material: Customers highly demand for quality in products as
well effect of using the goods produced by organisation. However, it is gained that The
Matrix's new product which is going to launch in market currently has effective
qualitative ingredients. Including this, material used in manufacturing are quite effective
and provides guarantee for positive impact on haircare (Du, Yalcinkaya and Bstieler,
2016). Similarly, there will be no side effect for using it as well remains suitable to
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satisfy all consumers regarding innovative hair care services. On the basis of quality
materials used in product, it is forecast that the new product as Shampoo will be effective
to attract customers at high level. However, it is estimated that demand for this product
will be increased on large scale. Thus, material and quality used in innovative product is
quite effective that will improve hair care and proper treatment for business and
competitive strategies. Hence, product quality used in shampoo would be helpful for hair
growth and reducing hair loss properly. Market demand and competitive advantages: As per analysis of material used in
shampoo, it is estimated that effective market demand for the new product will obtain. It
influences productivity and profitability of The Matrix that is interrelated with marketing
and competitive strategies (Gmelin and Seuring, 2014). Thus, through launching this
product, proper demand for hair care product would be enhanced. Including this, it would
be able to face cut throat competition and making its place in market for long time period.
In addition to this, different positive outcomes can create for competitive advantages at
high level. Hence, for product description, it is identified that product is able to promote
and sustain its position for long time period effectively.
 Product design and structure: In recent time: In recent time, customers are highly
demand for hair care product which is designed attractively and able to fascinate
customers to pull them for purchasing it. Therefore, designing structure of the new
product remains attractive to enhance its marketing strategy efficiently (Hollensen, 2015).
In this regard, attractive design and packaging of shampoo will get succeed to pull
customers at high level. Moreover, effective marketing and competitive strategies of The
Matrix can improve through this innovation.
Therefore, by considering all above mentioned factors, The Matrix can enhance its marketing
and marketing strategies to face competition and making attracting people ta high level. It
influences demand for products and entity's profitability at high level (7 Key Marketing
Principles, 2017). Therefore, proper management all tools goods and services can achieve that
impacts on production and distribution system of the entity. It will be able to sustain its good
position in market and fulfilling requirements of people belong to different countries worldwide.
In this regard, effectiveness of organisation and improving its services can be gained that affects
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further operations and competitive advantages for long time period. Thus, it is essential for entity
to focusing on all quality features and angles of products before launching and advertising
products on large scale.
2) MARKET RESEARCH FOR LAUNCHING NEW PRODUCT
Researching market factors is essential for the company before launching any product.
Matrix researched the need for hair product across the globe and discovered a demand of organic
hair care shampoo (Blakeman, 2014). For researching international market Matrix followed STP
concept before launching the new hair care shampoo. STP concept is as follows:
Segmentation: Market segmentation is grouping people with similar interests and traits
together. Grouping people in one group before launch of new commodity reduces the risk of
unsuccessful and ineffective market campaigns. Before offering product in market, company
need to segment market by identifying and determining characteristics of each market.
Segmentation can be on any grounds as:
Demographic Segmentation: it is based on gender, race, religion, education, race, marital
status, age, income level etc. It impacts on the marketing of the organization to great extent.
Most of the youngsters like to look good and attractive thus, they use hair products mostly
(FISK, 2013). On other hand older people do not like to use these items. By targeting these
consumers cited firm can be able to accomplish its goal soon.
Geographic segmentation: Based on country, state, religion, city, neighbourhood,
postcode, etc. It is another element that impacts on the marketing strategies of entity. Geographic
location, region, etc. impact on the mind of people. If people of any location do not use hair
products frequently then it would not be good for the organization to target in this area.
Psycho graphic segmentation: It is based on class like upper middle class, middle class,
lower middle class, working class, skilled working class, and those who are the lowest level of
subsistence (McQuarrie, 2015).
For instance Matrix before launch divided its customers as per their demand like the
globally female of age group 18 to 26 will prefer the product more as they are in growing age of
flaunting and will want their hair product to be healthy and safe for their hair, or by allocating
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promotional campaigns in way that it grab the attention of every customer who are willing to
spend on hair (Kim and et.al., 2014).
Market targeting: After dividing market, then comes targeting the segmented group of
customers. The main motive of targeting market is promotion, distribution of products, and
pricing in order to make process cost effective. It evaluates potential and commercial
attractiveness of each segments and the helps the firm in selecting one or more segments (Child,
2015). Like in this era social media provides platforms like Instagram, Facebook, LinkedIn, to
target consumers a segmented market. With the help of theses social media tools Matrix
promoted its product globally. The hair care products by the company are easily available and
are leading market worldwide.
Product Positioning: This is the major strategy company need to keep in mind. It helps
in developing detailed product positioning for selected segments and also help in creating
marketing mix for each selected segment (Isaenko and Tarasov, 2014). It is making product
available for buyers as per their needs and wants. Matrix follows same technique of positioning
of products globally which emphasize on factors like:
Competitive pressures: The company market researchers evaluate competitive pressures
when they are establishing the position of products.
Communication Channel: It helps company to decide how to offer products to
consumer, Matrix uses women magazines, saloons, social media advertisement etc.
Key messages: When offering product to buyers Matrix keep in mind the tag line to
attract more and more buyers. Key message can be anything which do not exploit consumer
rights.
Thus, by following on above mentioned aspects for marketing of new product of The
Matrix will be effective to improve its profitability and sustainability in market for long time
period (Lefebvre, 2013). For this purpose, segmentation of buyer behaviour and positioning of
product is created for its promotion and attracting customers towards new hair care product.
However, proper management of all marketing and competitive strategies can be enhanced
effectively. Therefore, on the basis of segmentation, targets are set for effective marketing and
competitiveness. Afterwards, positioning of products and services provided by The Matrix are
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considered for further implementation and achieving competitive advantages systematically.
Hence, marketing activities including segmentation, targeting and positioning will be able to
increase entity's profit earning capacity and competitive strategies to sustain its position in
market globally.
3) MARKETING MIX FOR PRODUCT
For launching and promoting new hair care product of The Matrix, all components
related to this activity are analysed including product, price, place and promotion can describe as
below: Product: It involves quality features and material used in manufacturing and production
system before launching it in market. In this regard, all substances and quality materials
are decided to show products' uniqueness to attract customers on large scale (Spears and
Zeederberg, 2013). In addition to this, for launching hair care product of The Matrix, all
quality features and various tools are recognised for advertising and promoting them in
market. It is related with customers' satisfaction and improving profitability as well
sustaining reputation in market for long time period. Hence, on the basis of this tool,
further implementations are created for further operations and better quality services. In
addition to this, all decisions are made related to product including name, size and colour,
quantity as well quality included in the hair care product. However, different quality
features related to present different the product in comparison to competitive entities
affects its competitiveness for further years. Moreover, various tools are identified to
attract customers and in regards of fulfilling clients' requirements effectively (OROIAN,
Escriche and Gheorghe, 2017). Price: In this process, cost is set for producing goods and services provided by entity. It
is done on the basis of expenses incurred on manufacturing and production of hair care
products. However, it aims to create cost effectiveness for proper production and
distribution of new innovative shampoo created by The Matrix. For this purpose, income
earning level of all customers are considered therefore almost all of the consumers can
afford the product. In addition to this, as per quality used in hair care goods, price is
determined to present in the market and sustaining its position to attract customers and
making place for long time period efficiently (Watson, 2014). Thus, price is also
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evaluated for launching and promoting new product in market. Therefore, price is set
according to quality used in manufacturing and production process. On the basis of
analysing this factor, further implementations including setting up and advertising of
products can be done effectively. Hence, setting price and presenting shampoo in the
market is needed to be considered for marketing and competitive strategies efficiently. Place: It is a process for launching product in market for providing comfortability to
customers at high level. In accordance to this, method to reach out customer including
places and creating ease in producing services are considered. However, it is needed for
The Matrix to looking for reaching out consumers and facilities to meet consumers are
analysed. In order to this, various tools are identified for producing and distributing
goods through physical and online medium. Thus, placing all products to customers and
getting their satisfaction is required to be focus on. Moreover, different strategies are
prepared and implemented for further operations and selling items are recognised. Apart
from this, decisions are made regarding keeping goods safe and enhancing marketing and
competitiveness of entity. Hence, it is helpful for proper production and distribution of
goods and services for The Matrix entity (Lee and Johnson, 2013). However, it is
beneficial for optimum utilization of resources and fund adequately. Therefore,
considering place as a tool for marketing and competitive strategies are able to be
considered for launching and promoting products in market. It influences customer
satisfaction and effective sustaining its market position for long time period. Thus, place
is also essential to be focused for proper production and distribution of goods effectively.
 Promotion: It is one of the most essential to attract customers and increasing demand for
goods and services at high level. For this purpose, different tools are used for advertising
hair care products to attract its customers effectively. For example; newspaper, magazine,
publicity and using social networking sites evolving Facebook, Twitter etc. Thus, by
these methods, innovations in hair care products of The Matrix are promoted to pull
consumers at large scale. However, for promoting goods provided by entity, it is
necessary to showing off all information as authentic and fair. It will be helpful for
attracting customers that impacts on demand for goods and entity's profitability for long
time period. Therefore, promotion of goods is done through launching and advertising
haircare products of The Matrix in attractive manner for further implementation and
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pulling its customers efficiently. On the basis of this factor, demand for shampoo by
promoting products' uniqueness efficiently. Hence, in the promotion factor of marketing,
various tools and elements are identified for enhancing demand for products as well
promoting it at high level (Prentice and Arnheim, 2013).
Therefore, for launching and advertising haircare product of The Matrix, it is needed to
consider all above mentioned factors. Including this, it will be appropriate to improve
profitability of entity and sustaining its good reputation in market for long time period
efficiently.
4) SELF REFLECTION ON INDIVIDUAL PERFORMANCE
Through working on this project report, I improved my skills that is suitable for my
personal and professional development. However, I contributed my effective working
efficiencies for working in a group. Similarly, I improved my communication and listening skills
that was able to create positive environment of entity and team to reach out set target. In addition
to this, I learnt to support team and giving my best by effective coordination among all workers.
Including this, I learnt different professional skills including business manner for advertising and
attracting customer effectively through working on this project. Moreover, by examining all my
strengths and weaknesses, different aspects and tools are recognised for problem solving and
behaving in a group. Therefore, various improvements are created in my skills and performance
for team work and coordination in it that affects project accomplishment. Including this, various
implementations are developments are obtained for improving various skills of mine. Similarly, I
learnt to guide all team members and coordinators of the group for presenting their best.
However, various changes are analysed that remains essential for The Matrix and its
effectiveness.
In order to this, as per recognising my management skills for creating planning and
implementing it, I improved it efficiently. Accordingly, I improved problem solving skills and
creating positive and effective environment of the entity patiently. Including this, I learnt to
solving out problems through listening towards problems and preparing strategies to handle
them. Through this process, I improved my professional abilities and different skills to
encourage other workers for effective coordinate in group work. However, my different skills get
improved through this projecting on launching new hair care product for The Matrix. In this
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regard, I improved my time management skills that encourages me to meet all deadlines and task
in a certain decided time period. By adopting this skill, I learnt to motivate all team members to
accomplish their tasks in a fixed time. In addition to this, various skills and improvements are
improved that influences my personal and professional lifestyle. In order to this, I learnt to see
positive outlook in every situation as well handling them patiently with positive attitude.
However, I learnt to create positive perceptions towards solving out any issues occurred in
projection and implementing skills for increasing working efficiencies and developing new
skills.
In addition to this, positiveness towards succession of project and different skills to deal
with several kinds of clients get improved. It influenced my positive attitude towards team work
and maintaining good relationship with all workers efficiently. However, I learnt to handle the
situations and performing work with ethical considerations. Including this, it is determined that
this project taught me a lot as well improved my several skills towards positiveness and effective
outlook towards team work efficiently. In accordance to this, I improved my several skills for
working in team as well creating positive environment of group effectively. Therefore, effective
and positive changes are gained that develops my personality and behaving with different
customers. However, I learnt to create coordination in group among co-workers and different
departments of The Matrix. Therefore, I adopted be flexible and getting adjusted according to
situations occurred at workplace.
CONCLUSION
Through this report, it is concluded that new haircare product of The Matrix can be
promoted in market by formulating and implementing strategies. In this regard, different tools
and strategies are identified to enhance marketing and competitive strategies. However, various
marketing strategies and processes are explained for promoting goods and attracting customers
through this assignment. In addition to this, marketing mix elements are described for launching
new product and advertising it in market are expressed. In order to this, self reflection by
contributing own performance in team work is identified that leads to improve my personal and
professional attitude. Moreover, varieties of aspects for project accomplishment and different
strategies for marketing of new innovations for the entity is introduced. Therefore, all tools of
marketing including segmentation of buyer behaviour on the basis of which targets are set and
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positioning of goods is created. Hence, various marketing tools and are presented for better
quality services are introduced through this report effectively.
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