Introduction to Marketing: Extended Marketing Mix, Ansoff's Growth Matrix and Digital Marketing

Introduction to Marketing

Table of Contents
Introduction......................................................................................................................................1
Main Body ......................................................................................................................................1
Discuss what is meant by the marketing and also explain the extended marketing mix........1
Discuss how the business can use marketing to remain competitive ....................................2
Explain Ansoff's growth matrix.............................................................................................3
Discuss how business can use digital marketing to enhance their performance and growth. 4
Conclusion ......................................................................................................................................5
References ......................................................................................................................................6

Introduction
Marketing is an activity which consists of set of situations and processes in order to
provide its offering to the target customer. It includes a major concept of marketing mix and it is
a significant tool which helps in creating a perfect marketing strategy in order to achieve the
organizational goal (Adomah-Afari and Maloreh-Nyamekye, 2018). An effective marketing
approach helps a business organization to build a healthy relation between the customers and the
company. Therefore, this report will be focussing on all the important aspects of marketing,
marketing mix, Ansoff growth matrix in order to develop profitable strategies. In addition to this,
use of digital marketing to enhance performance of business is also highlighted.
Main Body
Discuss what is meant by the marketing and also explain the extended marketing mix
(i) Marketing can be defined as the action or business process which is used for the purpose
of promoting and selling goods or services to the target customers. It includes research
and advertising as its two major components which helps in achieving the marketing
goals of a business or a firm in an effective and efficient manner (Alsem, 2019).
(ii)The extended marketing mix is tool which includes the combination of seven components
focussing on marketing goals which are mentioned below:
 Product: It can be tangible and intangible. Before designing the marketing strategy
to analyse the demand and wants of the customers in necessary. For example: Deloitte
is offering products and services like consulting, financial advisory and many more.
 Price: Pricing is an essential component of marketing mix on the basis of which
product will be perceived. It is directly linked with profit earning objective of
company. For example: Deloitte use premium pricing for its services.
 Place: It is an important element in terms of marketing. It basically indicates that
product should exist where its customers want it to be. For example: Deloitte is
providing its service worldwide (Dementieva and Sokolova, 2018).
 Promotion: It consists a wide range of tasks used for the purpose of promotion
through tactics like advertising, offers etc. For example: Deloitte is promoting its
offering by being a part of several events and sponsorship programmes.
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