Please please this is an important assignment. It’s worth 50 marks please make sure it’s really well done. The last time I got the same assignment done but it was really bad and my friend managed to get only 12/50 so please.
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STUDENT DETAILS MARKETING FUNDAMENTAL
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MARKETING1 Table of Contents Topic 1: Marketing research and its utilization in the marketing plan......................................2 Monitoring Competitors..............................................................................................2 Decorating the targeted audience................................................................................2 Issuing product trail.....................................................................................................3 Marketing research through the existing online portal of the company......................3 Topic 2: The effectiveness of PESTLE analysis in the launching of the new product..............5 Topic 3: Implementation of the SWOT analysis in the marketing plan of Tommy Hilfiger’s new clothing segment in the European market..........................................................................8 Topic 4: Segmentation, Targeting and Positioning (STP) to develop marketing strategies for ZARA's new women's clothing range in the United Kingdom................................................10 Topic 5: Product Launches.......................................................................................................13 Successful product launch of Maruti Suzuki’s NEXA segment in India.............................13 Unsuccessful product launch by McDonald in the year 1996..............................................14 References................................................................................................................................15
MARKETING2 Topic 1: Marketing research and its utilization in the marketing plan Marketing research is the accumulation and investigation of data about purchasers or consumers, contenders, and the effectiveness of the marketing program. In this part, we will evaluate the marketing research plan by using the example of Pepsi Co with the Tropicana. Marketing research is important for the PepsiCo because this will succour in launching their products. The selected product is "Tropicana". Entrepreneurs utilize a marketing research plan to decide the achievability of new business openings. Statistical surveying is a basic segment of a marketable strategy for the Pepsi’ product “Tropicana”. If statistical surveying doesn't show any interest in the item or administration, the proposed business won't probably be reasonable. Organizations may likewise utilize results to venture into new markets (Armstrong, Kotler, Harker & Brennan, 2018). Monitoring Competitors: For beginning the process of marketing research, the company started the market research through the analyse of their competitors such as Coca-Cola, Red Bull, Dabur Real Juice, Mondelez, General Mills, etc. By checking the rivalries promotions strategies, sites, and online battles the company perceived how they endeavor to catch a portion of the overall industry. For example, deciding prices of the product, deciding consumer service, administrations and client support contrast with the challenge.By monitoring the competition, the company decided their standing, at what position “Tropicana” stands in the market. PepsiCo even thought thatthese results can be used to create future marketing forecast behaviour. Apart from this, monitoring the behaviour of competitor helped the PepsiCo in concluding their targeted audience and their specific market research (Phadermrod, Crowder & Wills, 2019). Decorating the targeted audience:
MARKETING3 The company decorated their targeted audience. For analyzing their targeting audience, they need to conduct the customer marketing survey through various mediums such as online surveys, by conducting a random one-on-one interview, text message survey, etc. The targeting customer base for the PepsiCo for their product Tropicana are the young age people who love to have a health drink in the form of juice. The average age of targeted audience is between 18 to 30 years. Issuing product trail: The company also sold the free product sample in the market in their initial product launching stage. The aim of that product trail is that the company want to get feedback from their targeted audience about the product and its taste (Gurel & Tat, 2017). The company had spent £2 million in distributing this product for free of cost in the year 2017. Marketing research through the existing online portal of the company: PepsiCo is the well-establish brand and they have a strong social media presence. The company also have the option to conduct an online product survey for the Tropicana Product. Management prepared a strong questionnaire about the product and they need to request their online followers to fill the survey. In 2019, still the company have the open feedback form for the Tropicana and other products issued by the company. Apart from this, the company identified that people of the United Kingdom are now preferring health drinks. For example: juices or other health drink instead of cold drinks or other acidic drinking product. Thus, the management of the company has conducted the market research and identified that they should launch the Tropicana product because it has various health benefits. For example: every 1litre tetra pack of Tropicana contain Vitamin C,
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MARKETING4 Vitamin E, B1 Thiamine, 18gm protein with 0% of artificial flavours and no preservatives (Phadermrod, Crowder & Wills, 2019).
MARKETING5 Topic 2: The effectiveness of PESTLE analysis in the launching of the new product PESTLE analysis is the method which defines a way to reduce the business upcoming threats in the launching of a new product. For this part, the selected product is the McDonald’s “Chicken fried marshmallow burger” in the market of Singapore (Perreault, 2018). Through PESTLE analysis, the company can get an idea for the product launching of chicken fried marshmallow burger, For example: product development, external environment analysis, etc. This analysis will help the company in making the effective marketing plan by analysis their external threats that may encounter from the perspective of political view, economical view, legal perspective view, etc. For the product launching of the “Chicken fried marshmallow burger”, the company can utilize the PESTLE analysis in the following way: Political Factor: The company can expand its business in the market of Singapore due to the effective international trade conditions of this market. However, the countries policies for their citizen's diet and health behaviour can affect the launch of this product. In addition to it, McDonald's should add the health benefits in their new product for getting the green sign from the government of the country (Saummut-Bonnici & Galea, 2015). Economical: Economic changes, straightforwardly and indirectly impact the marketing planning of the business. Singapore’s economic condition may impact the accompanying financial condition. However, the developing economic condition of the country can become an opportunity for McDonald's to launch its new product through its specific marketing pattern(Armstrong, Kotler, Harker & Brennan, 2018).
MARKETING6 Social factors: The increasing purchasing power or rising disposable income of the citizen's Singapore is a great opportunity for the management. Social factors also incorporate information about the increasing cultural diversity, healthy eating habits and busy lifestyle of the people. The company should make its marketing pattern which should suit the social factor of the country. For example, the company can say in their promotion that with the sale of every burger McDonalds denotes 1% of their sale in the charity fund for the welfare of children’s (Haider, et. al., 2019). Technological factor: Singapore’s market is the rapid growing thus they adopt new technology rapidly. The company should utilize the adaptability of the automation promotion methods because it will fascinate the interest of the consumers on a large scale. Apart from this, the company can make effective changes in their mobile application so consumer place the order very easily. Just after the launching, the company should display the order placing the button on the front screen of their application (Moon & Kamakura, 2017). Environmental factors: This factor can improve their natural projects and should enhance their image for using environmentally friendly means of production. Furthermore, the company can use this point while promoting their new chicken burgers in the Singapore market. The objective of these undertakings is to address the opportunity related to the rising enthusiasm for corporate ecological projects and the expanding accentuation on manageable strategic approaches (Armstrong, et. al., 2018). Legal Factors:
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MARKETING7 Animal welfare guidelines of the country can restrict the company to conduct its operations. This legitimate pattern undermines McDonald's incomes from these market sections. Animal welfare guidelines are delegated a danger and an opportunity in this PESTEL examination. For example, these guidelines can enhance the cost of McDonald's production network. In any case, a similar outside factor makes a chance to improve the business by actualizing a far-reaching creature welfare approach, which can pull in more clients who are keen on animal welfare. A PESTEL investigation is a structure or apparatus utilized by advertisers to break down and screen macro-environmental (outer environment condition) factors that affect an association. It is an external analysis when directing a key examination or doing statistical surveying and gives a diagram of the diverse large-scale natural elements to be thought about. It is a key device for understanding business sector development, business position, potential and course for activities (Haider, et. al., 2019). For launching any new product, the company need to conduct the research on the external environment of the business operation. However, PESTLE analysis helps the company in getting the idea about the external market conditions (Perreault, 2018).
MARKETING8 Topic 3: Implementation of the SWOT analysis in the marketing plan of Tommy Hilfiger’s new clothing segment in the European market SWOT examination is a key arranging strategy used to support an association identify strengths, weaknesses, opportunities, and threats related to business competition. SWOT investigation of Tommy Hilfiger examines the brand with its strength, weaknesses, opportunities and threats. In Tommy Hilfiger SWOT Analysis, the qualities and shortcomings are the inner components while opportunity and dangers are the outer elements. SWOT Analysis is a demonstrated administration structure which empowers a brand such as Tommy Hilfiger to benchmark it's business and execution when contrasted with the contenders and industry. Tommy Hilfiger is one of the main brands in the way of life and retail segment (Ansoff, et. al., 2018). Strength: The company already have a strong marketing presence and they have a well-defined strong network in the Australian network. For the consumer of Australia, Tommy Hilfiger is a well-known brand for them because the brand is already operating in the country. For launching their new clothing segment, the management can display their new clothing segment in the stores and they can also display the clothes on their social media networking sites. While making the marketing plan the company can take the advantage of their strong market presence. Weakness: The brand will be incurred high promotion cost while advertising the clothing range through different means of promotion. Also, the company faces huge competition in the marketing range from the well-established brands in the Australian market such as USPA, Zara, UCB, etc (Alon, et. al., 2016). The strength of the company is their
MARKETING9 strong global presence but for maintaining their presence they need to done lot of marketing campaign or promotions which incur huge promotional cost. While making the marketing plan, the company should also keep an eye on the strategies design by the competitors (Perreault, 2018). Opportunity: The innovation in the new apparels brand can be a great opportunity for the company. By introducing new product and fashionable clothing range the company can utilize this as the part of their marketing campaign. In launching the new segments, their strong promotion platforms and strategies always help them in targeting huge number of audiences. Apart from this, SWOT analysis helps the marketers of the company in identifying the opportunity with early warning threats. Threats: The economic slowdown in the Australian market can resultant in decline the product demand by the people. As economic slowdown decreases the purchasing power of the targeted audience. In this case, the company can market this product range at a discounted price. At the time of economic crises, all the companies have to face the downside which impact the sales of the company. At that time, promotion strategies rarely fascinate the audience because economic crises lower down the purchasing power of the people. Apart from this, SWOT Analysis is the for review and examination of the general key situation of the business and its condition. Its key reason for existing is to distinguish the procedures that will make a firm explicit plan of action that will best adjust an association's assets and capacities to the necessities of the earth wherein the firm works (Istiqomah, 2016).
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MARKETING10 Topic 4: Segmentation, Targeting and Positioning (STP) to develop marketing strategies for ZARA's new women's clothing range in the United Kingdom Today, Segmentation, Targeting and Positioning (STP) are the similar strategies methodology in Modern Marketing. It is one of the most ordinarily applied promoting models practically speaking. The STP model is valuable when making promoting correspondences plans since it causes advertisers to organize recommendations and afterward create and convey customized and important messages to draw in with various spectators (David & David, 2017). Below is the positioning of Zara that company uses to get the overview of the market standing positioning of Zara. Later on, the company utilizes this information in the UK for setting an appropriate marketing plan to fascinate the interest of their target audience (Gurel & Tat, 2017).
MARKETING11 (Source: Zhang, 2015) The company used this positioning map in their marketing mix to drawn the client’s view about the business' offering, dependent on the value, quality or other factors. The visual graph helps advertisers in thinking about the suitable situating methodology, which may include growing new upper hands or upgrading existing ones. The company is about to new launch new clothing segment for the Women in the UK markets. Thus, this positioning map will help the brand manager to predict their marketing standing so they can use this information for making the marketing plan. Marketing management of the Zara, utilize the reasonable portion of assets both human and monetary. These assets are restricted and valuable and ought to be utilized in a powerful way. When the company makes it's market entry then should utilize ZARA H&M LOUIS VUITTONChannel ALXANDER MQUEEN PRADA D&G TOPSHOP ALLSAINTS Positioning map of ZARA in the UK market High Price LUXURY LOW PRICE Edgy Modern
MARKETING12 their marketing team to judge the needs of the customer by knowing on which two- axis their brands stand right now (Istiqomah, 2016). Through this positioning map, the marketing managers can decide that at what time they should launch their new segment in the UK market. As in this positioning map, ZARA and H&M both stand at the same axis. This state the budgeted consumer has the option either to go with H&M and ZARA. So, the marketing team of the company can decide what time will be suitable for the company to inaugurate new clothing segment. The innovative and challenging part for the marketing management of Zara is to showcase procedure which involves the designation of obligations to individuals from this advertising group (Phadermrod, Crowder & Wills, 2019).
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MARKETING13 Topic 5: Product Launches Successful product launch of Maruti Suzuki’s NEXA segment in India: Talking about the accomplishment of NEXA, Shashank Srivastava, Executive Director, Marketing and Sales, Maruti Suzuki India Ltd. stated, "In under 4 years of its dispatch, Nexa has quickly developed to turn into the best premium retail organize in India and contributes over 20% to our all-out deals. In this limited capacity to focus time, we have arrangement more than 360 NEXA outlets covering in excess of 200 urban areas and included more than 9 lakhs cheerful NEXA clients. This versatile NEXA terminal will assist us with connecting with clients in geologies where NEXA outlets are right now not present." he included (marutisuzuki.com, 2019).In the context of NEXA, the external factor adversely affects the launch of this segment. For instance, this segment is launched in India, when the Indian economy is facing the downside and the per capita income of the people is also declining (marutisuzuki.com, 2019). The economical factor is the main external reason behind the failure of the product. The company have no control over the external environment but they decide their policies and implement appropriate changes as per the condition of the external environment. When the economic values of a country are running down the situation for unemployment is created in the country, which eventually decreases the purchasing power of the population. However, the internal factors also contributed in the failure of this product launch. The company fails to provide the excellent customer service as per the views of the customers (marutisuzuki.com, 2019).
MARKETING14 Unsuccessful product launch by McDonald in the year 1996 McDonald's has likewise encountered various progressively customary promoting issues in the year 1996. The vast majority of these issues have been issued with new items that have neglected to move customers. McLean Deluxe (an endeavor to cook for the wellbeing cognizant client) and McSoup are two evident models, yet it was with the Arch Deluxe burger that McDonald's accomplished its most humiliating lemon. Showcased as the 'Burger with the Grown-up Taste', the thought was to have a burger which wasn't related with kids. For sure, the promoting effort for the Arch Deluxe slammed the management to achieve the success(Mcgrath, 2019). Thus, this product launch has become the failure for the company. In 1996, due to globalization people have vast variety of choices in the fast food product. Many products became successful but many products also had to touch the depth of failure. In this context, McDonald’s Arch Deluxe had to face failure because people loved to choose other product instead of giving importance to this. McDonald’s even discontinue this product only in 7 months after the launch(Mcgrath, 2019).
MARKETING15 References Alon, I., Jaffe, E., Prange, C. and Vianelli, D. (2016).Global marketing: contemporary theory, practice, and cases. Abingdon: Routledge. Ansoff, H.I., Kipley, D., Lewis, A.O., Helm-Stevens, R. and Ansoff, R. (2018).Implanting strategic management. New York: Springer. Armstrong, G.M., Kotler, P., Harker, M.J. and Brennan, R. (2018).Marketing: an introduction. London: Pearson. David, M.E. and David, F.R. (2017). The quantitative strategic planning matrix: a new marketing tool.Journal of Strategic Marketing,25(4), pp.342-352. Gürel, E. and Tat, M. (2017). SWOT analysis: A theoretical review.Journal of International Social Research,10(51), pp.98-109. Haider, A.A., Zafar, A., Khalid, A., Majid, A., Abdullah, M.A. and Sarwar, M.B. (2019) Marketing Management. Abingdon: Routledge Istiqomah, Y.N.A. (2016). The Influence of Marketing Mix (Product, Price, Place, and Promotion) and Service on Customer’s Decision of Using BSM Saving Products.Global Review of Islamic Economics and Business,3(2), pp.073-098. Marutisuzuki.com. (2019).Maruti Suzuki sales in March 2019 and 2018-2019. [Online] Retrieved from:https://www.marutisuzuki.com/corporate/media/press-releases/2019/maruti- suzuki-sales-in-march-2019-and-2018-19[Accessed on: 29thSeptember, 2019] Mcgrath, J. (2019).5 failed McDonald’s Menu items. [Online] Retrieved from: https://money.howstuffworks.com/5-failed-mcdonalds-menu-items3.htm[Accessed on: 29th September, 2019]
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MARKETING16 Moon, S. and Kamakura, W.A. (2017). A picture is worth a thousand words: Translating product reviews into a product positioning map.International Journal of Research in Marketing,34(1), pp.265-285. Perreault, W.D. (2018).Essentials of marketing. New York: Mc Graw Hill. Phadermrod, B., Crowder, R.M. and Wills, G.B. (2019). Importance-performance analysis- based SWOT analysis.International Journal of Information Management,44, pp.194-203. Zhang, D. (2015).UK fashion brand Next marketing audit and marketing plan. [Online] Available at:https://issuu.com/feifeifeiwu/docs/next_marketing_audit_and_plan_print/20 [Accessed on: 29thSeptember, 2019]