Marketing Fundamentals Analysis and Evaluation

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Added on 2021-02-22

Marketing Fundamentals Analysis and Evaluation

Added on 2021-02-22

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MarketingFundamentalsAnalysis andEvaluation

Table of ContentsINTRODUCTION .........................................................................................................................1TASK 1A.........................................................................................................................................1Application of PESTLE analysis and Marketing strategy......................................................1Role of marketing in generating value for customers ...........................................................5Stakeholder involvement and their influence on marketing activities ..................................6TASK 1B.........................................................................................................................................6Reflective statement ..............................................................................................................6CONCLUSION ...............................................................................................................................7REFERNCES ..................................................................................................................................8.........................................................................................................................................................8

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INTRODUCTION Marketing is the process of acquiring or getting potential clients or customers interestedtowards company's products or services. However, the key term which is involved in thisdefinition is 'process' which encompasses researching, promoting, selling and distributing goodsor services. Moreover, this discipline centres on the study of market and consumer behaviour andit evaluates commercial management of establishments in order to attract, retain, adopt widerange of population towards brand image as well as fulfilling their requirements or demands in abetter manner (Bridoux and Stoelhorst, 2014). This report is based upon Asda, which isrecognised as on eof the well known supermarket retailer in UK which is established in the yearof 1949. It serve varieties of products like grocery, general merchandise, financial services acrossthe globe in an awful or adequate means. In this documents, it comprises stages of marketing aswell as imply PESTLE and marketing mix to determine its productivity among existingmarketplace. Finally, need of marketing and stakeholder within organisation functional areas aswell as conclude the statement in reflective manner is also explained here. TASK 1AApplication of PESTLE analysis and Marketing strategyIn an organisation, marketing function is considered as an essential component as itrelates with the activities which is related to buying, selling, creating, communicating, deliveringproducts or services for acquiring increased level of customer satisfaction in an impressive style.Additionally, it encompasses finding out what consumers want and determining whether its ispossible to deliver it at the right price with an optimal utilisation of resources to enhance brandimage (Cheowsuwan, Arthan and Tongphet, 2017). Furthermore, it comprises productimprovement, market research, goods distribution, sales strategy, public relations and customersupport for acquiring foremost position within a business. However, there is a procedure ofimproving marketing function which company adopts into their functional areas for analysingcurrent marketing situation in order to accomplish sustainable profitability. Hence, marketingprocedure is an activity of analysing the opportunity in market, assortment of target industry,improvement of marketing mix for placing the Asda's products in an appropriate way forobtaining high level of productivity. However, Asda implies certain procedure of marketingwhich is explained below: 1

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