Marketing Fundamentals: Analysis and Evolution of Marketing Strategies

MARKETING FUNDAMENTALS

Table of Contents
MARKETING FUNDAMENTALS................................................................................................1
INTRODUCTION...........................................................................................................................3
ANALYSIS AND EVOLUTION OF MARKETING FUNDAMENTALS...................................3
Stages of marketing.....................................................................................................................3
Role of marketing environment...................................................................................................4
Marketing mix.............................................................................................................................6
Segmentation, targeting and positioning.....................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
Marketing fundamentals is defined as strategies that are adopted and are the initial ways for any
organisation in order to take up the task of marketing. The marketing fundamentals contribute for
an effective promotion of the product (Baines and et.al, 2017). In order to cope up with the
confusion that are related with the uncontrollable measures of the government policies a good
marketing executive will have to be initiated in the company in order to tackle with the works of
marketing. The entire report deals with the marketing fundamentals and the factors involved. The
company that is adopted in this regard is Tesco. Tesco is one of the largest retailer chains in the
United Kingdom. It is known for its product quality and the brand it maintains by providing all
the groceries that a required for the domestic use.
ANALYSIS AND EVOLUTION OF MARKETING FUNDAMENTALS
In the product development cycle marketing plays a major role from concept decision till the
manufacturing and distribution. The companies that are less strategic are said to be having a
limited marketing role in their organisation (Bocigas Solar and et.al, 2020). Marketing is not just
related to bringing the product only when it is ready into the market but the innovations and
demands that are related with marketing or to be initialised as a first step.
Stages of marketing
Product development:
The marketing department in any organisation works along with the research and development
department in the initial stages that will contribute to process determine and collect the data
regarding what kind of products that the customers demand. This will help in brain the greatest
results and the fullest development. This stood as a determining factor in fulfilling the consumer
needs and how the new market need will be fulfilled (Krishnamoorthy and et.al, 2020). This with
regards to Tesco is such that the Tesco company employees identify the customer need for a
particular product and focuses upon developing the product and based on that product
development marketing is put forth. Every department in the organisation is allotted with a
manager who is in charge of dealing with the customers. Based on the statistical data about
which product is more likely to be sold, the company focuses upon manufacturing the product in
the numerous counts.
Introduction and roll out: