Marketing Principle and Techniques Assignment - Chocoflair bakery shop

Added on - Nov 2020

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Marketing Principle andTechniques
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1: Concept of marketing...........................................................................................................11.2: Market segmentation............................................................................................................21.3: Marketing Mix.....................................................................................................................2TASK 2............................................................................................................................................32.1: Aims of research and market analysis..................................................................................32.2: Marketing research method..................................................................................................42.3: Market analysis tools and techniques...................................................................................5TASK 3............................................................................................................................................54.1: Method used for E-market product and services.................................................................54.2: Ways companies used to manage their online image..........................................................6TASK 4............................................................................................................................................63.1: Use of marketing analysis techniques to research...............................................................63.2: Interpreting of finding..........................................................................................................63.3: Presentation in front of marketing team...............................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONMarketing is an essential need of every business organisation irrespective of size whethersmall, medium or large in order to expand business and capture large market share. The projectincludes marketing aspects which includes marketing mix, marketing analysis tools andtechniques etc. Role of E-marketing in growth and success of business are also covered underthis report. The present assignment report is based on Chocoflair bakery shop which is juststarted 6 months before. All given aspects in report are discussed with the context of such bakeryshop (Bishop, Fody and Schoeff, 2013).TASK 11.1: Concept of marketingAt present times, marketing is an essential need for every organisation which drives themto achieve success within shorter period of time. As in the given case, Bakery shop which iscontinuing its business for last 6 months are finding difficulties in achieving growth due to lackof knowledge of marketing which is essential to capture large market share. Due to offeringmultiple products such chocolates, cold-drinks, cakes etc. it becomes easy to market as especiallyyoung generation are easily attracted towards such bakery products.Definition:Marketing refers to an activity in which business can promote its productsand services with an objective of capturing large market share. There are different marketingtechniques and tools such as advertising through pamphlets, newspapers, social media etc. whichcan help in spreading information about availability of bakery products along with their pricesdue to which the targeted customers can easily attracted towards them (Deaconu and Buiga,2010). It includes various aspects which are given as below:Defining and managing their brand:It includes identification of resources the businesshave at present and accordingly manage and utilising them in marketing their brand so as toprovide knowledge to customers about their products and services. It can be done throughconducting campaigns, pamphlets etc.Producing internal communication:It is must required for workers working in suchbakery shop to understand the main aim and objectives of business so as to motivate them to givemore efforts in reaching business to large scale.1
Planning activity:The owner of bakery shop is held liable to make an effectivemarketing plans and strategies to expand their business in market so as to capture large marketshare and generate huge revenues.Research activity:Conducting research is an essential need to make business moresuccessful as it help in identifying the needs and preferences of targeted customers so as to fulfilthem as quickly as possible. For example, if chocolate pastries are more in demand then it willdirecting the bakery business to produce such demand goods more (Georgiou and Jack, 2011).1.2: Market segmentationIt is a process of dividing market into different segment to identify the needs andpreferences of respective segment which make easy for business to fulfil them according to theirrequirements.Psycho-graphic segmentation:Such type of segmentation is based on lifestyle, culture ofan individual which need to be considered by company in order to fulfil their needs andrequirements. Market segmentation is categorised into four parts which are briefly described asbelow:Geographic segmentation:Under this, the market is segmented on the basis of locationsor geographical area where the business can get more crowd. For example, Chocoflair Bakery islocated at London market of UK where large amount of population are gathered which mayincreases sales figure of Chocoflair bakery shop.Behavioural segmentation:In this market segmentation, the population are divided onthe basis of their behaviour, consumption and decision making pattern. For example, Kids andyoung generation are the one who preferred to buy bakery products thus their needs andpreferences are identified first for the purpose of fulfilling them.Demographic segmentation:Under this, market is segmented on the basis of variableswhich includes age, income, gender, religion etc. For example, mostly kids are preferring to buybakery products thus are targeted first (Gordon, 2012).1.3: Marketing MixMarketing mix is combination of several factors which may affects and influences theinterest and buying behaviour of customers to buy products and services of Chocoflair bakeryshop. It consists of 4P's which are briefly described as below:2
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