Marketing Principles and Practices

The provided document is an extensive compilation of marketing-related materials, including book chapters, journal articles, and online resources. The content covers various topics such as marketing research methods, market segmentation, competitive strategies, and consumer behavior. The assignment appears to be related to a course or program in marketing, likely at the undergraduate or graduate level. It provides a comprehensive overview of key concepts and principles in marketing, along with references to support further learning. The document is suitable for students seeking to understand marketing research methods and practices.

Marketing Management
in Business

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Relationship between marketing strategy and their vision, mission and business strategy. .1
TASK 2............................................................................................................................................2
1.2 Tools and techniques to analyse key areas of the marketing environment..........................2
1.3 Tool to analyse the market environment in specific, identified business situations............2
1.4 Analysis of the role of market research in business decision making................................2
2.1 Critically analyse the relationship between marketing strategy and actions.........................3
2.2 Strategic position and competitors impact on marketing strategy......................................3
2.3 Critically analysis between growth strategies and strategic marketing objectives..............4
2.4 Marketing strategies contribute to sustainable competitive advantage................................4
2.5 Factors that will influence consumer choice and behaviour................................................4
3.1 Differentiation between market segmentation and product differentiation..........................5
3.2 Different targeting approaches..............................................................................................5
3.3 Critical analysis of the process and function of positioning................................................6
TASK 3............................................................................................................................................6
4.1 Role of the marketing mix in the implementation of marketing strategy............................6
4.2 Role of product development and branding.........................................................................6
4.3 Critical analysis of the impact costing and pricing decisions...............................................7
4.4 Role and purpose of marketing communication..................................................................7
4.5 Retailing and channel management contribute to competitive advantage............................7
TASK 4............................................................................................................................................8
5.1 Marketing strategies in commercial, not for profit organisations and public organisation. 8
5.2 Analysis of the use of marketing techniques........................................................................8
5.3 Impact of marketing on social and political change..............................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
Today in competitive market environment, every organisation makes efforts to increase its
business in term of profit, popularity and revenue generating in long term. There are several
marketing strategies which are used by company to succeed in future and capture a lion share in
industry. In following report marketing of SUN WHITE TEXTILES TRADING LLC will be
discussed which is a leading firm in United Arab Emirates in manufacturing sector. Marketing
strategy is related to vision, mission and business strategy of company. Many tools and
techniques can be utilised to to analyse key areas of business environment in a specific business
situation. So there is need to conduct market research time to time so that consumer and
competitor behaviour can be estimated. Market goals and target of firm are interconnected with
strategic market analysis (Zikmund, Babin and Griffin, 2013). Every competitor in same industry
has an drastic impact on enterprise technique and tactics. Objectives of company are dependent
of growth strategies so that organisation can gain competitive advantage. There are many factors
which affect consumer choice and behaviour. Market segmentation and product differentiation
are two main tools through which company can grow in long term and capture a top position in
manufacturing industry of United Arab Emirates.
TASK 1
1.1 Relationship between marketing strategy and their vision, mission and business strategy
Vision statement defines the main objective of a company on which it runs business. While
mission statements entails what has to be achieved in a set period of time. Through these
statements, managers of an organisation further formulate effective and unique strategies.
Therefore, all these aspects of business, direct it path which help in attaining high success. As
Sun white textiles trading llc is a big brand in manufacturing industry of UAE which has vision
to provide top level home appliances and capture a considerable market share in manufacturing
industry of country. In order to achieve the desired goals and objectives it is important that
effective marketing strategies are followed. Strategies are a common guideline that are made for
the business and is followed by the whole enterprise which assist in raising the chances of
reaching to targets. Vision is a long term objective in which firm mentions its ultimate message
to customers. On other hand, mission is short term goals like a particular sale of product and
goods. The company uses marketing strategy to achieve its vision and consequently its business
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objectives of profit maximisation. Objectives or visions must be SMART (specific, measurable,
achievable, realistic and time-framed) statements to accomplish company's goals (Wedel and
Kamakura, 2012). For example, if strategy is not effective and efficient then there might be
difficulty in accomplishing mission and if efficiently marketing strategy is implemented then
these all objectives will be achieved with accuracy. Thus vision and mission have huge impact in
marketing strategy in a negative as well as positive way. Business strategy is also a crucial part
of firm which decides future position of company in market. So to implement an effective
business strategy, there have be efficient marketing techniques and approaches. These efforts
will lead to smart marketing strategy and benefit the company to gain increase profit margin in
future. There is a direct link in between the marketing strategies, vision and mission of the
enterprise (Jobber and Ellis-Chadwick, 2012). First the mission is set and thereafter strategies are
formulated for the same. This way gap between the actual and desired results also gets reduced.
All these are made before starting working on the projects.
TASK 2
1.2 Tools and techniques to analyse key areas of the marketing environment
Marketing is the process through which products are made available to the final customer
using different sources. It is and effective department of an enterprise that ensures the required
level of sales for the firm. Being a leading brand in manufacture industry of UAE, Sun white
textiles trading llc needs to evaluate external as well as internal environment of company so that
it can see real position of firm and make suitable plan for growth. There are many ways which
are used for this like SWOT analysis in which strength, weakness, opportunities and threats for
business are included. Strength of company is that it provides best quality of bed sheets in
comparison to other firms and limited range of products is weakness. Due to well established
image in market, it can provide more exclusive goods to attract potential buyer. (Taylor, Bogdan
and De Vault, 2015). One of best technique and tools is stakeholder analysis in which
competitors, consumers and employees are included and their response is estimated to make a
smart plan so that firm can progress at high rate in long term in future. Thus these above methods
help in observing key areas of marketing of business to gain competitive advantage in textile
manufacturing sector of country.
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In order to analyse the key areas of marketing, managers of Sun White Textiles has
emphasised on the strategic concept of philanthropy. It helps in developing as well as evaluating
issues of marketing and examines overall aspects which are needed to be concerned while
executing the business plan. This concept also aid to analyse factors which provides benefits to
employees, stakeholders and local communities as well. This company has also formalized and
combined strategic decisions with philanthropic decisions in order to enhance performance of
business. It shows the competitive analysis of marketplace and helps in building the effective
organisational structure.
1.3 Tool to analyse the market environment in specific, identified business situations
As different methods can be utilised for particular condition of company, PESTEL is one
of most crucial tool to analyse exact postilion of firm in manufacturing industry of United Arab
Emirate. This technical is very useful specially when competition is very high because it cover
almost all aspects in market. It helps to update company's policies and procedures through
changes in rules as per regulation implemented by government. Natural resources are analysed to
evaluate their availability and firm makes its policies to minimise their consumption to protect
environment. On other hand, society attitude towards product of firm can also be evaluated and
appropriate actions can be taken to make most benefit from its. Economical condition of market
like recession or inflation is also analysed by this tool. Technological changes can also be
observed and used by company to increase its product quality in future (Wedel and Kamakura,
2012). Various law provisions are also evaluated in this tool of marketing. Thus this technique is
preferred by organisation in some specific situation of market.
Today in globalised market with accelerating need for ethical choices, companies are
focused more on consumers demand. According to Voola and O'Cass (2010), the most essential
factors which influences choice of ethical consumer and their interconnectivity is marketing
policy of a company. Buying intentions of them were highly influenced by brand image and
quality of products. Therefore, to get positive intention of buyers, it is necessary for Sun White
to use effective marketing techniques so that interconnection between consumers and buyers can
be formed. Other factors which impact on consumer behaviour are pricing strategies and how
company serve its products at marketplace.
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1.4 Analysis of the role of market research in business decision making
Market research plays an important in every decisions of business related to enhance
performance, increase productivity, expansion in other areas and more. It shows current trend of
marketplace, factors which create an impact on decisions and strategies of business and more. If
an organisation wants to launch a new product at marketplace then market research helps in
identifying the success factors. It including demand of customers, their purchasing power,
competitor’s strategy etc. This would help in determining whether it will prove beneficial for
business growth or not. As there is cut throat competitor in manufacturing industry, there is need
to know about consumer and competitor behaviour to get advantage form it. To evaluate
consumer behaviours, two major methods of market research are used like qualitative and
quantitative. First includes data in language or word, for example, questionnaire, personal
interview, survey, open group discussion and observation. Effective market research provides
clear view about how much consumers are satisfied with product quality. Reason of less
customer satisfaction is also identified in market research through observation and firm can take
appropriate decision to improve its image by increase its product quality. One of best methods is
questionnaire that includes some questions asked to customers and on basis of their response,
response is prepared and strategy is made for improvement. Another type of method which Sun
white textiles trading llc uses is quantitative which contains numerical or statistical data that
gives more accurate results about consumer choice and competitor behaviour towards marketing
in manufacturer industry (Voola and O'Cass, 2010). On the basis of these above techniques,
current choice of customers, other firms in same sector is observed and modified, effective
strategy is adopted in future.
2.1 Critically analyse the relationship between marketing strategy and actions
According to Gheorghiu, marketing strategy is a method through which company can
achieve its objectives and targets of short as well as long term in future. On other hand, if weak
strategy is implemented it may lead to less effective actions for progress and difficult to
accomplish organisational goals as profit maximisation and revenue generating. Market analysis
which is done by many research can lead to clear view of business environment and firm can
make a smart plan to gain competitive advantage in long term in future.
As per Freng, marketing goals like capturing a considerable share in manufacturing
industry and maximum customer satisfaction can be achieved if effective action plan is
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implemented. These achievements can be considered as success of marketing strategy of
company. For example, Sun white textiles trading llc adopts market penetration strategy in which
company focuses on selling of current product or services so that it can improve it quality and
get maximum consumer satisfaction (Vani, Babuand Solomon, 2014). This strategy includes
some major actions like modification in features of product or services and make it more
attractive for customers so that they will be buy in more quantity.
2.2 Strategic position and competitors impact on marketing strategy
Strategic positioning of firm is planning technique in which company makes efforts to
achieve vision, mission and objectives. It is used by enterprise to uplift its existing position in
market in changing environment by plans and strategies. As for concentrates on its short term
target of establishing connection between customers and employee to improve image of brand in
manufacturing industry. On other hand, Competitors play a vital role in making plans from
marketing strategies. For example, if rivals in same textile business reduces their rate of product
and services then the firm will also have to make adjustments in its prices to compete in market
in long term otherwise there will be decrease its sales and consequently market share in long
term. On other hand, if competitor applies market segmentation techniques then it also has to
change its strategy and take competitive advantage. In order to build the marketing strategy
different tools can be utilised like porters five force model. It is an effective source through
which competition prevailing in market can be identified and it can be determined that what are
the various threats to the business.
2.3 Critically analysis between growth strategies and strategic marketing objectives
As per Voola and O'Cass, it can be said that Sun white textiles trading llc adopts different
types of tactics which helps in achieving goals like maximum best quality in products and get
consumer satisfied with it. One of major growth strategies is market expansion in which current
product is sold in new segment of market to increase range and scope if there is less room for
progress in present scenario (Sarkees, Hulland and Prescott, 2010). It helps in getting more share
of market in manufacturing industry. Another growth strategy is product development in which
some new and latest features are added to existing product to represent it in a another modified
form to customers and get more positive feedback in term of profit, goodwill and revenue.
Diversification is a tactic that contains selling of goods and services to another market. For
example, mentioned organisation will expand its range by targeting new group of market and get
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divide risk in business. Through using these all above growth strategies, firm can accomplish its
strategic marketing objectives.
2.4 Marketing strategies contribute to sustainable competitive advantage
There are many types of marketing strategies which are adopted by Sun white textiles
trading llc to gain maximum share in manufacturing industry. One of best strategy in marketing
is product differentiation in which company makes changes in production process and some
parts of product so that it will be considered as new product. More customers will buy if they
find it attractive and useful. Increased sales due to this strategy, will improve image of firm in
market and consequently will uplift market share and goodwill in sight of customers in future.
Improved brand will help in sustain consumers and make competitive advantage. As there is cut
throat competition in manufacturing industry of United Arab Emirate, company make suer to
provide reasonable prices with best quality make profit in comparison to other rival firms
(Nwankwo and Gbadamosi, 2010). Thus it is necessary to implement some effective and
efficient marketing strategies which will help in achieving strategic marketing objectives. Proper
marketing research should be done well in advance so that the most appropriate tool to reach
final customers are used. Different clients have their own way of getting influenced and hence it
is required that they are provided with same. There are range of options to promote the products
and each has their positives and negatives. Print media, social media etc. is used to influence the
choice of clients.
2.5 Factors that will influence consumer choice and behaviour
Today consumer is a game changer in every business industry like manufacturing and
textile, there are many elements which play a vital role in it. Some of crucial factors are culture,
preference, reference group, age, occupation, financial situation, lifestyle, attitude, purchasing
power and image of brand. Personal preference is one of most influencing component which can
increase or decrease demand of a particular product or services. For example, if a person wants
to use luxurious bed sheet then he will prefer Sun white textiles trading llc. Another factor is age,
a person of young age and old age have different demand for consumption. For example, first
one will be able to demand fast food product but on other hand, second one will not demand for
the same. Economic status of consumer also affects his behaviour towards specific product or
services (Murphy, 2010). For example, a rich person will go for luxurious and comfortable goods
at high cost but a poor class people will demand for basic and reasonable product.
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3.1 Differentiation between market segmentation and product differentiation
Market segmentation is a method of specific target for gaining competitive advantage in
which company focus on some particular group of buyers which seem to be most potential in
long term. Product differentiation is to provide goods and services with unique quality and
features and offered to consumers. Differences between these can be explained as below.
Basis of difference Market segmentation Product differentiation
Segmentation In this aspect a particular part
of market as consumers are
targeted and their specific
demand is considered on
priority.
In this element of marketing
strategy, company tries to
provide a different product
from other competitor brands
in manufacturing industry.
Need focus This tool of marketing
includes that main focus on
consumer or target market
needs.
In this technique, particular
group is targeted and product
is provided in a unique form to
gain competitive advantage.
Strategy Firm adopts various market
research to segment its most
potential buyers
On other hand, company
implement this aspect to
increase brand loyalty and
non-price competition.
The above discussion shows that theories huge difference between the two terms
segmentation differentiation. Firm need to give emphasis on each one of them so that the
required level of sales is obtained.
3.2 Different targeting approaches
As there is a lot of competition in manufacturing industry of UAE, every business
organisation needs to focus on specific group of customers which are most potential. Following
are some major targeting approaches which are used by Sun white textiles trading llc.
 Undifferentiated targeting approach- This is common feature technique in which all
general customers are covered. It is beneficial for that firm which lack knowledge about
consumer choice.
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 Differentiated marketing or multi-segment Targeting-It includes use of marketing
mix to target all or some part of market segment (Mertens, 2014). Company makes a
particular product for these divided target customers to gain competitive advantage and
profit.
 Focus and customised targeting approach-This technique is mostly used by each firm
to make product and goods according to choice of their target customers. These are made
only for few group of market not for all. So it may gain maximum profit and risk at same
time if buyer will not like product.
By doing this better understanding of the market is achieved which is require to deliver the
same services and to raise the current satisfaction level of clients.
3.3 Critical analysis of the process and function of positioning
` According to Wedel and Kamakura, first step of positioning is to know target audience
well and understand its needs. Second step is to identify product features of Sun white textiles
trading llc and benefits to offer to customers. Third is to implement USP as unique selling
proposition so that target consumers can buy the product without any similar or substitute in
manufacturer industry. Fourth is to know all close rivals in competition and after that brand is
promoted. Final step is to maintain brand position. Thus this whole process will help I getting
more share in market.
TASK 3
4.1 Role of the marketing mix in the implementation of marketing strategy
Aspect liken product and price affect sales and objective accomplishment, so they must
be considered while making marketing strategy. Another elements like people and place should
be chosen wisely to improve existing performance and make product accessible to people.
Employees are responsible to make marketing strategies , so if they are motivated enough, they
will make efforts to gain maximum customer satisfaction. Methods to promote product, for
example, mentioned firm should use effective marketing mix so that it can attract maximum
number of customers (Luan and Sudhir, 2010). So strategy must be made on basis of these
elements of business to gain customer satisfaction in future. In this regard, marketing mix
strategy of Sun White Textile Trading LLC is given as below:-
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People: Human resource is considered as main aspect behind success of a company. Without
enrolment and cooperation of them, a firm cannot accomplish its objectives. As per concern with
Sun Ltd. its managers have given job employment to high skilled and experienced candidates at
workplace. In order to gain contribution of them, this company also provides various benefits
like insurance, pension plan, medical services for their family members, reward and
compensation etc.
Press: This concept concerns about prevention of environment from harmful effects of
chemicals and poisonous gases which emit from manufacturing industries. In this regard, present
company used high technology for reduces wastage and chemicals in proper manner, so that it
doesn’t harm ecosystem.
Process: Sun Trading includes a team of professionals of industry technology who works in
collaboration to create trading strategies. The risk management system of this company is
designed in such a manner that this team can able to control all elements of business as well as
conduct operations within predetermined risk parameters. The main goal of this company is to
promote high efficiency as well as deeper liquidity in overall marketplace.
Price: In order to increase sales performance and attain retention of customers towards product
or services, Sun White LLC has offered its commodities on competitive price rates.
4.2 Role of product development and branding
Sun white textiles trading llc has goodwill in manufacturing industry which make it big
brand in sight of its customers. It will lead to positive perception about company and make
increase in purchase of product. Branding of firm also helps in improving quality of product as
it has a well established image in market. Product development includes design modification
and newly branded goods which will contribute in capturing more share of manufacture sector. If
brand image is negative, it might affect sale of product and consequently decrease profit margin
or revenue in long term.
4.3 Critical analysis of the impact costing and pricing decisions
As per Luan and Sudhir, if raw material or purchasing power of company is weak, it may
increase cost of final product and ultimately affect consumer buying capacity (Lindgreen, Swaen
and Johnston, 2009). For example, supplier increase its price then firm has to either minimise its
other expenses or increase its offer rate to customers. On other hand, if cost is decreased due to
slowdown in market, maximum customers will buy the product in long term in future. So
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company has to make its pricing decision effectively so that it can gain more competitive
advantage in comparison to other firms.
4.4 Role and purpose of marketing communication
Communication is one of most essential aspect in marketing management of every
business organisation. It is an important element of marketing mix which helps to convey
company message or motto to its target market. It plays vital role in improving image of product
in sight of customers. So enterprise has to use effective tools and techniques of communication
while introducing its goods. For example, it can convey its message to minimise paper work to
minimise tree consumption to protect environment.
4.5 Retailing and channel management contribute to competitive advantage
Distribution channels play a vital role in achieving organisational objectives of profit
maximisation and revenue generating. Easy and accessible channel management may lead to fast
availability of product to customers and maximum consumer satisfaction (Kotler, 2012). This
aspect is an essential part of marketing mix in which sound atmosphere is required to attract
maximum people to buy goods or service. Availability of raw material is also distributed on time
as customised products for specific market segments which makes it possible to gain positive
image in sight of consumers.
TASK 4
5.1 Marketing strategies in commercial, not for profit organisations and public organisation
Different types of company require specific tool and techniques for marketing depending
upon nature of business. Commercial unit like Sun white textiles trading uses marketing
strategies like market segmentation and product differentiation to gain maximum profit and
revenue. In these two main strategies, it concentrates on particular segment of customers and
provide product only according to their needs and desires (Jobber and Ellis, 2012). On other
hand, public sector firm uses social welfare marketing strategy to make better life of people of
lower and middle class. Not for profit organisation utilises marketing technique to raise funds
for society and environment improvement.
Public sector Commercial unit Not for profit organisation
It plans the marketing
activities which are more
Maximum emphasises is given
on attracting clients for which
It does not advertise for sale
but to encourage people to
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message oriented and use less
attractive measure.
fancy advertisements are
planned and it is assured that it
influences the customer
choice.
participate.
5.2 Analysis of the use of marketing techniques
Commercial units adopt branding and promotional marketing techniques which are
helpful to achieve organisational goals and objective as profit maximisation and capture large
share of manufacture industry. On other hand, non-profit organisation uses sponsorship as
marketing technique to attract maximum number of customers and get advantage from it. Third
enterprise like public sector unit uses its brand name to dominate market environment as it is
owned by general public. Thus there are different types of techniques used by these three specific
organisations. It is used to establish effective distribution by setting reasonable price to
customers. Various techniques help in communicating with consumers and gain maximum
satisfaction.
5.3 Impact of marketing on social and political change
As there are continuous changes in political stability and social value of people of
country in which firm operates its business. To deal with these two difficult situations, company
needs to make an effective marketing plan and convert it into profitable results. For example,
Sun white textiles trading llc uses an undifferentiated marketing strategy which divides risk due
to changes in rules and regulation implemented by government (Hair, Sarstedt and Mena, 2012).
On other hand, it modifies features of product to meet changed desire time to time. This tactic
may lead to gain competitive advantage in long term in changing environment. If trend of
consumers is changed then sales and marketing of product will also be affected in term of
demand, price and popularity.
CONCLUSION
From above report it can be concluded that marketing is a inseparable aspect for every business
organisation to achieve its long term as well as short term objectives and goals. It can influence
political and social change in long term. There are many techniques which are utilised to increase
marketing of product and goods. Non-profit and profit organisations have different strategies as
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they have their own specific purpose of business. Product development and branding are value
generating tools for SUN WHITE TEXTILES TRADING LLC as it a well-known and leading
firm in United Arab Emirates. So marketing is an essential part of business.
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REFERENCES
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