Marketing Management for Charity Services: Application of Marketing Mix and Theories
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This report discusses the application of marketing mix and theories in marketing management for charity services. It covers the nature and importance of marketing mix, its significance in generating donations, key marketing theories, and recommendations for Backup North West company.
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Table of Contents INTRODUCTION..........................................................................................................................3 MAIN BODY...................................................................................................................................4 Nature and importance of application of marketing mix in process of marketing.................4 Significance and explanation of marketing mix and process in order to generate donations to support charity services and support activities.......................................................................5 Key marketing theories application and their impact on success of marketing activity with reference to customer awareness and satisfaction..................................................................6 RECOMMENDATIONS.................................................................................................................8 CONCLUSION...............................................................................................................................9 REFERENCES..............................................................................................................................10
INTRODUCTION Marketing management is a necessary and crucial utility of a company which supports in expansion and growth of a company. The marketing department also helps and supports a company in its sales operations which leads to increase the profitability(Czinkota, Kotabe, and Shams, 2021). In the corporate world it is essential for a company to put emphasis on marketing operations in order to develop market strength. All major companies in the international and national marketplace focus on developing marketing operations in order to develop and gain competitive advantage. In this report example of Backup North West company is considered which is a social welfare service provider. TheBackup North West companywas founded in the year1992and is situated inBolton, United Kingdom. Backup north west provides services tohomeless peoplewho are aged between16 to 25 years.
MAIN BODY Nature and importance of application of marketing mix in process of marketing In the functioning of a business, marketing mix is a modern technique which is helpful in increasing various operations of a business in a precise manner. There are different famous businessentitiespresentinglobalanddomesticmarketplacefocusondevelopmentand application of marketing mix in order to achieve focused results. Marketing mix contains various elements which are helpful in increasing different marketing functions of a business entity in a supportive manner (Deepak, and Jeyakumar, 2019). It is also key duty of marketing management of a company to focus on marketing mix for achievement of short, medium and long term goals. The importance of marketing mix for Backup North west company is mentioned below: Increases sales-Main importance of marketing mix is, it helps in increasing sales of a company in a precise and systematic manner. It is also one of the key role of a business entity to focus on implementation of marketing mix with effective supervision and control. Main purpose and duty of company is to increase all major sales related operations with the help and support of marketing to gain competency edge at the marketplace Developmentofbusinessentity-Overalldevelopmentofacompanyismajorly developed and facilitated by marketing mix and its application. Growth and expansion of a company is also supported with the implementation of marketing mix. The marketing mix should be adopted by Backup North West to enlarge scope of marketing activities. Increase customer satisfaction-With the help and support of marketing mix, Backup North West can easily increase satisfaction level of customers. In the recent times, marketing mix also attains different possibilities of market capturing which is important for every business (Dixit, 2020). Increasing the satisfaction of different customers is major role and responsibility of marketing mix and its application. Value addition- The marketing mix contributes to develop value addition in a business which is most important for the company. With the development of value Backup North West company can easily increase business strength which will be supporting in raising charity.
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Significance and explanation of marketing mix and process in order to generate donations to support charity services and support activities The explanation of marketing mix takes into consideration various factors that can impact on business performance. To develop efficiency and effectiveness of a company, it is essential for a company to develop major marketing operations (Eryigit,2017). The development and explanation of elements of marketing mix along with their importance for Backup North West for charity service is mentioned below: Price-The price of a product is considered as combination of cost and profit margin which is provided to customers. It is essential for a business entity to focus on pricing of a product and provide affordable and reasonable rates. Many business organisations in the marketplace focus on formulating prices with the support of marketing management and top level management in order to develop best business practices. Backup North West should formulate charity donation amount in a specified manner in order to facilitate charity contribution. Product- Product is the considered as main product formulated by a business to sell it to major customers. The company should provide quality oriented products to customers in order to increase the sales figures. The main ideology of a business to develop a light on new product development in order to bring innovation in the business. Place-The place is referred to geographical location selected by a company to sell different products at the marketplace. Place is chosen as a major location which is helpful in providing products and services to target customers. The main responsibility of marketing management of a business to formulate best practices and approach in selling a product. The Backup North West should select a main location in London to organise charity event for facilitating contribution. Promotion-Promotion is considered as a major element in marketing mix which helps in advertisements and publicity of a product (Eryigit, 2017). It is main role and responsibility of a company to focus on promotion of a product using appropriate media channels. Backup North West should select social media in order to promote charity services for the achievement of desired results. People-People are the employees of a company who are actively involved in selling a product at the marketplace. It is essential duty of marketing management of a business to
develop key emphasis on people in order to enhance productivity of organisation. The company should also focus on performance management of marketing employees to lead the marketplace. Process- Process is considered as a major approach in the elements of marketing mix. The process is referred to whole process used by a company to deliver final products and services to target customers (Hua, 2019). It is recommended for Backup North West company to facilitate development of process to develop in corporate world. All major business entities in the national and international marketplace put emphasis development of an effective process in to gain desired results. Physical evidence-The physical evidence is considered as the infrastructure used by a company to sale its products. It is very much necessary for a company to take into consideration development of physical evidence in a precise manner for major expansion of business. It is crucial for business entity to develop positive infrastructure. The physical evidence is also majorly related to product and services based approaches which are helpful in increasing market strength of a company (Fonseca, Paço, and Figueiredo, 2021). The Backup North West company should focus on development of physical evidence in order to develop and achieve major targets and goals. Key marketing theories application and their impact on success of marketing activity with reference to customer awareness and satisfaction It is very much important for a company to focus on application of different marketing theories in order to lead the marketplace. The Backup North West company is considering following marketing theories to develop systematic operations: STP(Segmentation, targeting and positioning) Segmentation-Segmentation is considered as major approach in marketing is important in development of dividing market into different parts (Homburg, Jozić, and Kuehnl, 2017). This technique helps a business in bifurcating market into different parts which develops a key approach in providing essential services to target customers. Targeting-The targeting approach helps a business entity to develop major approach in handling the right customers. In this technique, targeting right customers for business is facilitated by marketing management in order to perform sales related operations. Major companies adopt this approach for selling products to audience which increase revenue.
Positioning-This approach is referred to select appropriate geographical location for selling the final products to customers. A company achieves major competitive advantage with the help of right positioning (Kotabe, and Helsen, 2020). It is major function of marketing management to implement best practices in positioning for achievement of precise results. Decision making process of consumer Theory Decision making process of customers is a major approach which supports a business in understanding buying behaviour of different customers. With the help of this approach, a company maintains effectiveness in different marketing activities and functions. The consumer decision making process theory is also helpful in understanding mindset and preferences of target customers. All major companies in the marketplace focus on development of consumer decision making process for achievement of optimum business results(Kotler, Pfoertsch, and Sponholz, 2021). The key approach of a business should be on analysingconsumer decision making process for sales development. The different business organisations in international marketplace which take into account application of different strategies on the basis of consumer behaviour. The consumer decision making process is also a key approach which helps a company to identify needs and demands of different customers. In the recent times, many business organisations use this approach to facilitate sales turnover. The implementation of this marketing theory in Backup North west service provider must be there with supervision and control. It is also major ethical role of marketing management of a business entity to put emphasis on which are important for business development(Muddaha,Kheng, and Binti Sulaiman,2018). It is ethical role of marketing management to take into account planning and strategic framework to facilitate development of this approach.
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RECOMMENDATIONS Recommendations are effective in providing competitive advantage to business firms and also increase their efficiency(Sarpong, 2018). All the major companies should focus on development of effective strategies and approaches on the basis of recommendations. TheBack up North East company should follow the below mentioned recommendations: Information and technology-The information and technology is related to key factors which are developed by a business in order to develop systematic marketing operations. With the help and support of digital technology, a company can perform functions and activities on quick and accurate basis. Marketing management of a business have to focus upon development of effective customer relationship management in order to lead the marketplace in a short span of time. Strategic marketing-Strategic marketing is a modern practice which develops a key planning framework that is important for development of marketing operations. In the recent times many companies use the application of strategic management in order to lead marketplace. Compensation and rewards to employees-The compensation and rewards are two major and important business tools which are helpful in increasing business strength. All major companies at the marketplace provides monetary and non-monetary rewards to different employees in order to increase their productivity (Woodside, 2017). The Backup North East company should regularly provide major compensation to employees on frequent business to develop marketing area.
CONCLUSION From the above discussion it can be concluded that marketing functions and activities are important to be developed by a business. The main role of an organisation is to support marketing functions with help and support of effective marketing strategies to achieved business targets and goals. This report concludes significance of planning frameworks to develop marketing functions according to business requirements. This project also concludes role played by marketing mix and its application in supporting growth and expansion of a business in a well defined and arranged manner.
REFERENCES Books and Journals Czinkota, M.R., Kotabe, M., and Shams, S.R., 2021.Marketing Management: Past, Present and Future. Springer Nature. Deepak, R.K.A. and Jeyakumar, S., 2019.Marketing management. Educreation Publishing. Dixit,S.K.ed.,2020.TheRoutledgehandbookoftourismexperiencemanagementand marketing. Routledge. Eryigit, C., 2017. Marketing models: A review of the literature.International Journal of Market Research,59(3), pp.355-381. Eryigit, C., 2017. Marketing models: A review of the literature.International Journal of Market Research,59(3), pp.355-381. Fonseca, I., Paço, A. and Figueiredo, V., 2021. Nonprofit organisations, management and marketing strategies for survival: The case of philharmonic bands.Journal of Philanthropy and Marketing,26(1), p.e1678. Homburg, C., Jozić, D. and Kuehnl, C., 2017. Customer experience management: toward implementinganevolvingmarketingconcept.JournaloftheAcademyofMarketing Science,45(3), pp.377-401. Hua,H.,2019.MobileMarketingManagement:CaseStudiesfromSuccessfulPractice. Productivity Press. Kotabe, M.M. and Helsen, K., 2020.Global marketing management. John Wiley & Sons. Kotler, P., Pfoertsch, W. and Sponholz, U., 2021.H2H Marketing: The Genesis of Human-to- Human Marketing. Cham: Springer. Muddaha, G., Kheng, Y.K. and Binti Sulaiman, Y., 2018. Impact of marketing knowledge management on marketing innovation-empirical evidence from Nigerian SMEs.International Journal of Economic and Research,9(1), pp.1-18. Sarpong, S., 2018. Crisis management and marketing. InThe Routledge handbook of destination marketing(pp. 100-109). Routledge. Woodside,A.G.ed.,2017.Thecomplexityturn:Cultural,management,andmarketing applications. Springer.