This document provides a comprehensive guide to marketing principles and techniques, using the example of Dawat restaurant in the UK. It covers different marketing activities, market segmentation, marketing mix, market research methods, and e-marketing methods.
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Marketing Principle and Techniques
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Table of Contents Introduction......................................................................................................................................4 Task 1...............................................................................................................................................4 1.1Illustrate different activities within marketing department..............................................4 1.2Explicate market segmentation for identifying customers...............................................4 1.3 Elucidate marketing mix...................................................................................................4 Task 2...............................................................................................................................................4 2.1 Elucidate aims of research along with market analysis....................................................4 2.2 Describe market research methods...................................................................................4 2.3 Outline market analysis tools...........................................................................................4 Task 3...............................................................................................................................................4 4.1 Illustrate methods utilised to e-market products as well as services................................4 4.2 Illustrate how firms manage online image.......................................................................4 Task 4...............................................................................................................................................5 3.1 Use market analysis techniques to identify target market for services or products.........5 3.2 Interpret findings of market research as well as market analysis.....................................5 3.3 Present findings to marketing team..................................................................................5 Conclusion.......................................................................................................................................5 References........................................................................................................................................6
Introduction Marketing refers to organisation of sale of products for an instance deciding prices, areas in which they have to be supplied and ways in which they can be advertised. Basically, marketing implies activity and processes utilised for creation, interaction, delivery and exchange offerings that possess value for their partners, society, clients and customers(Avornyo and et., al., 2020). Purpose of this assignment is furnishing an insight into concept of marketing through utilisation of different tools & techniques. To understand the concept of marketing principle and technique, Dawat restaurant is taken which is delivering their services in UK and are specialised within different caterings. It is a Mughlai cuisine restaurant. This report comprises of different aspects related with marketing like segmentation, marketing mix, tools & techniques, e-market and many other. Task 1 1.1Illustrate different activities within marketing department Marketing denotes a process to create and exchange values with others in terms of what they want and their preferences. Some of essential marketing activities that are being carried out by Dawat are specified below: Marketing Research:Valuable information related with market for peculiar products or services and their evaluation is referred to as market research. This aids Dawat to analyse gap which prevails between products offered by them and what people are looking forward for (Bowie, 2020). Along with this they can also have details about their competitors and way people perceive their offerings. Illustration1: Market Research
Customer profiling or segmentation:Identifying customer requirements and preferences is major issue as accordingly market is divided, it is defined as segmentation or customer profiling(Chen, 2020). In this context, Dawat emphasise on recognition of market size and accordingly analyse market according to their needs. Product pricing:Identifying and elevating service or product value is called pricing of service. With respect to Dawat, they ensure that their offerings can be consumed by a middle man and formulate prices accordingly but by taking into consideration at what price their competitors offer at. Public relation for marketing:Creating attractive services to customers amplifies the relation which is shared with company. Dawat provides their customers with multiple options like Mughal dishes, Tandoori, Gujarati, Lebanese, etc. and this leads them to retain their customer as well as develop a strong loyal bond. Social media managing issue:It is an efficacious for developing better interaction and public relations via by electronic marketing or social media marketing(Chowdhuri and Roy, 2020). Illustration2: Social Media Workflow It aids Dawat to identify the satisfaction levels of their customers who have visited their place and what more they need to have. Facebook is one of the most used social media platform and it will aid the restaurant to have adequate response from customers as well as reach maximum of them(de la Hoz Hernandez and et., al., 2020).
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1.2Explicate market segmentation for identifying customers While operating services within competitive market, it is necessary to utilise market segmentation. It implies process where probable customers are being grouped on the basis of distinct traits with the aim to identify potential customers. With respect to Dawat, some aspects related with segmentation have been illustrated below:Behavioural segmentation:In this context, consumers are divided on the basis of behaviour patterns as they communicate with firm. For an instance Dawat may identify knowledge possessed by customers in context of offerings of services, attitude, likes or dislikes, etc.Demographic segmentation:Here, market is divided with respect to family size, gender, income, ethnicity, religion; age, etc. so that firm or any other service provider can identify potential customers effortlessly(Jacobson, Gruzd and Hernández-García, 2020). In this context, Dawat provides their customers with cuisines from different cultures and countries which aid them to grab more number of people.Geographical segmentation:As per this customers are served within peculiar area and broad target audiences have distinct preferences depending upon where they are located. Dawat utilise this segmentation to focus on peculiar resident’s area(Kociatkiewicz and Kostera, 2020). Dawat has opted for making use of demographic segmentationand that is the reason that they provide their customers with different dishes as per their taste buds. 1.3 Elucidate marketing mix Set of tactics or actions that firm utilise for promoting their products or brand within the marketplace is referred to as marketing mix. In context of Dawat, market mix has been specified below: Price:It implies value which is put forward for a product. This depends on production cost, segment that is targeted, ability of market to pay and many other direct or indirect factors
(Kotabe, 2020). Dawat makes use of psychological pricing that seems affordable such as $149.99. Illustration3Marketing Mix Product:It implies what exactly restaurant offers and it has to be ensured that minimum performance levels are maintained. The portfolio of Dawat comprises of Gujarati, Bengali, Lebanese, Punjabi, Summer BBQ, Indian, Sri Lankan, Halal, Pakistani, Afgan, Breakfast and reception drinks to their customers. Place:It is location from where customers can have services from firm or service provider. Dawat have their restaurant in Southhall UB1 1LX, United Kingdom but they also provide their customers with an option to order food via Zomato which implies that they can cover a large space across London so that their potential customers can enjoy their services (Mkhize and Ellis, 2020). Promotion:This implies activities that are taken up for making services or products to users. Dawat carry out this by word of mouth, contests and social media. They also provide their customers with offers like happy hours, membership, etc. Task 2 2.1 Elucidate aims of research along with market analysis Firm formulate the aims by taking into consideration the major aspect related with their offerings and try to cover maximum of them within a single statement. For organisation: Aim:To be one of the most renowned restaurants across UK by grabbing maximum number of customers towards their services. For Customer
Aim:To spend in items that provides them value for money as well as satisfies their preferences and needs. Dawat can attain this by carrying out at adequate market research as well as analysis by whichthey can have adequate knowledge aboutwhat other restaurantsare providing to customers and what customers need(Noel, Sammartino and Rosenthal, 2020). From perspectives of clients, they opt for services from restaurants that can satisfy their taste buds thereby providing value for money. 2.2 Describe market research methods The organised effort for gathering information related with target customers or market is defined as market research. There are different methods which are being utilised by distinct firms. With respect to Dawat, some of them are illustrated below: Surveys:Dawat conducts various in person surveys after people have tasted their offerings. This is done to analyse whether their customers are satisfied with what is being offered to them or there is a scope for improvement in any context like speed, response, environment, etc (Tempels, Blok and Verweij, 2020). Observation:Responseofindividualssometimesseemsoddwithrespecttoactual behaviour of customer. Dawat can observe this through viewing the videos of customers via CCTV footage so that they can exactly perceive reaction of customers. This will aid them to acknowledge preferences of customers and what is maximum that is being ordered by them. Personal interviews:They are unstructured as well as open-ended questions and are being recorded. This will give an insight into accuracy of services that are delivered by Dawat. For an instance, what you like and dislike most about restaurant, don you think offerings are reasonable, as per desired standards and many others. Focus group:Here moderator makes use of scripted questions through which discussions are being carried out. Videotapping equipments are utilised to capture it and at least three groups are taken for having a balanced results(Avornyo and et., al.,2020). This will provide in-depth insight to Dawat with respect to services carried out by them. 2.3 Outline market analysis tools The attractiveness as well as dynamics of peculiar market in specified industry is referred to as market analysis. For an instance, Dawat will carry out market research with respect to market of UK and industry is food & beverages. Some techniques are mentioned below:
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STP:This is defined as analysis of offerings as well as ways in which benefits are being communicated to peculiar group. It is illustrated below: Segmentation:In this context, market is divided on the basis of demographics, geography and behaviour of individuals. Dawat have divided their market on the basis of demographics. Target:Here, target will be identified with respect to attractive ones(Bowie, 2020). Dawat has emphasised on segment size. Restaurant emphasise on middle class families. Positioning:Dawat reaches touch points of different customer easily, by providing them with differentiated services and products via different channels (like takeaway, in restaurant or via zomato). Pest Analysis:This is carried out by Dawat restaurant to analyse market with respect to external factors which creates an impact on their operations while delivering their operations in UK: Political factors:This creates a strong impact on Dawat as this involves strict guidelines with respect to nutritional information and standards for food safety as well as labelling. Brexit has strong impact on in terms of probable opportunities for accessing new market(Chen, 2020). Economic factors:Dawat is being impacted by levels of taxation, it can be both affirmative or pessimistic depending on profit levels. Along with this, economic situations have impacted adversely due to Covid-19 due to which sales have been completely dropped. Social factors:Preferences and needs of people changes continuously which implies that Dawat need to alter or enhance their offerings. There is high concern for health of individuals and for this people are ready to pay premium prices. Technological factor:When new technological methods for production are used then it brings in issues like recycling(Chowdhuri and Roy, 2020). For this, Dawat makes use of recycles plastic within their bottles and looks forward for ways through which negative impact can be reduced on environment. Task 3 4.1 Illustrate methods utilised to e-market products as well as services The process for planning and implementing conception, distribution, promotion as well as pricing of services and products within a computerised way is referred to as e-marketing. An instance can be taken to understand benefits that can be attained by Dawat through this concept.
Consider traditional methods are being used for marketing of their offerings like advertisement in newspaper, television, leaflets and pamphlets. This needs huge investments and may be people not read articles given by them(de la Hoz Hernandez and et., al., 2020). But when e-marketing is used by Dawat like posts in facebook along with image of dish and number of likes as well as positive comments will create a strong impact on people and they can reach enhanced number of benefits through this. It is primary as well as crucial aspect associated with e-marketing as compared traditional methods. This will also lead to minimise cost. There are different methods which can be used by them, they are: Social website:This will aid Dawat to reach maximum number of people as millions of users have access to one or more social accounts. Blogging:ThiswillenableDawatto promotepersonalcommunicationwiththeir customers, enhance repeat visitors into the website and have well targeted marketing. Pay per click:By paying a relevant amount, quick results can be attained by Dawat. Furthermore, it will aid them to pull in quality traffic towards website(Jacobson, Gruzd and Hernández-García, 2020). Search engines:This leads to enhanced brand awareness about Dawat by making it more appealing to their probable customers. Search engine spiders assist consumers to identify websites through which their needs can be accomplished. 4.2 Illustrate how firms manage online image It is necessary that when customers search for Dawat then they must easily find their website, social media accounts as well as reviews made on site. This can be attained by following steps: Diversify presence on the web so that within top 10 slots of Google search restaurant can be found. This can be attained by Dawat through usage of social media platforms like Facebook, Google+, YouTube, etc, related blogs and company’s website. If one social media platform has to be considered then it must be LinkedIn as it tends to rank higher as compared to other content. People randomly look in this platform for having relevant services. An instance can be taken, Dawat have maintained their Facebook account in an adequate way in case if they receive a negative comment from customer then they reply to it on time and ensure that next time they visit place this will not be experienced by them(Kociatkiewicz and
Kostera, 2020). This leads to creation of positive impact as well as generate sense of being valued among them. Task 4 3.1 Use market analysis techniques to identify target market for services or products The target market for Dawat is middle class families as number of people who belong to this segment is high. Swot and Porters’ five forces techniques are being utilised by them for conducting market analysis. They are specified below: SWOT Analysis:This will enable Dawat to acknowledge both internal and external aspects related with their offerings. StrengthsWeaknesses They have experienced employees who are loyal towards them. Dawat furnishes their customers with widerangeofdishesfromdifferent nations. Catering services to enhanced number of people. Services are delivered in limited areas so they have small loyal customer base. Delay in services as they make use of traditionalwaysforpreparingtheir dishes(Kotabe, 2020). OpportunitiesThreats Expand their services in other countries in United Kingdom. Make use of online delivering services for reaching more number of people. Economic conditions of UK along with impact of Covid-19. Change within government policies and guidelines. Porter’s five forces: Competitive rivalry or competition:Dawat experience astrongcompetition as there are wide range of restaurants Curry Leaf, Mughli Charcoal Pit and Castle View. They creates a strong impact on their customer base.
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Bargaining power of buyers or customers:This factor islowimpact on Dawat as they provides their consumers with high quality food at reasonable prices which makes them different from competitors. Bargaining power of suppliers:This factor hasminimuminfluence as Dawat has wide option along with this switching cost is also low. Threat of substitutes or substitution:Dawat experience a strong impact with respect to this as there are wide number of other restaurants who provide same dishes. Along with this, taste of people also changes with respect to health concerns(Mkhize and Ellis, 2020). Threat of new entrants or new entry:There is moderate impact as Dawat is small restaurant and if someone will better services then they are obviously a threat. 3.2 Interpret findings of market research as well as market analysis By carrying out market research along with market analysis for target market of Dawat, the main findings are review research goals, organisation of data and identification of patterns. Furthermore, PESTLE has to be considered for interpreting facts related with market research. Review research goals:It is an effectual issue for attainment of goals related with marketing as well as research aims is outcome of review(Noel, Sammartino and Rosenthal, 2020). Pestle, STP, porter’s five forces and swot analysis are two major type of tools or techniques that are used for re-viewing their goals. The organized data and identify patterns:They denotes findings of Dawat with respect with marketing research as well as carry out efficacious role within development of particular service or products for target market. Identification of patterns:This analysis will aid Dawat to analyse the market with respect to needs, preferences and wants of customers as well as their customers. 3.3 Present findings to marketing team Different techniques have been used for presenting findings related with marketing team. Forexhibitingstrengths,weaknesses,opportunitiesandthreats,SWOTanalysisisbeing conducted. To identify the segment, target their customers and position them within the market STP is utilised(Tempels, Blok and Verweij, 2020). Furthermore to identify the competition
within market Porter’s five forces is used and for analysing opportunities & threats created by external factors Pestle is utilised.By effective usage of these techniques Dawat restaurant can have enhanced competitive positioning within the marketplace. Conclusion From the above, it can be concluded that marketing refers to process through which people are being made aware about services delivered by particular organisation. They need to conduct market research to identify patterns that prevail within as well as analyse it by making use of different techniques. Along with this there probable impact is also illustrated. Pestle, Swot, STP and Porter’s five forces are market analysis techniques which are being used organisation to have in-depth knowledge about different aspects associated with the market.
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