Report on Marketing Techniques and Constraints

Added on - 06 Jun 2020

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MARKETING FORBUSINESS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Marketing techniques used in marketing of products and services...................................1P2 Describe the limitations and constraints of marketing......................................................2P3 Marketing research to develop a marketing plan..............................................................2P4 How cultural differences can alter the marketing message...............................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
INTRODUCTIONMarketing techniques are essential for local businesses to achieve their products andservices marketing in the market segmentation effectively. The Ansoff’s marketing mix modelhelp to understand the importance of techniques. Present report covers the marketing techniquesand their limitations as well as constraints. Contribution of marketing research towardsdeveloping a marketing plan is also evaluated. Finally, the impact of cultural differences onmarketing is also discussed very well.TASK 1P1 Marketing techniques used in marketing of products and servicesANSOFF’S MATRIX MODELAnsoff’s matrix approaches help organisations to compete in the market with developingand improving their markets and products effectively and efficiently.Market development:Market development is a strategy which local businesses canselect to compete others. Local businesses can expand their business in geographical andother areas of country (Babin and Zikmund, 2015). This can be achieved by differentcustomer segments, new areas for business, unique products and increasing outputs.Market penetration:Market penetration is also a strategy which can be helpful for thelocal businesses. The local businesses can sell their existing products and services withsome policies to attract the customers effectively. This can be accomplished bydecreasing the price, distribution support etc.Product development:The local businesses can also improve their products and servicesto increase the sales and compete the other one effectively (Young, Wilkinson and Smith,2015). This can be achieved by investing in product and services development, jointdevelopment, collaboration and unique products effectively.Diversification:The local businesses can expand their market with doing somethingdifferent towards products and services such as offering something new, productimprovement and potential strategies (Coolsen, Brandt and Herbst, 2015). This will helpthem to sustain their business at the place effectively and efficiently.
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