Assignment on Marketing Principle
Added on 2019-12-03
17 Pages4221 Words213 Views
MARKETING PRINCIPLE
TABLE OF CONTENTSINTRODUCTION......................................................................................................................1TASK 1......................................................................................................................................11.1 Elements of Marketing Process........................................................................................11.2 Benefits and Cost of Marketing Orientation....................................................................2TASK 2......................................................................................................................................32.1 Macro and Micro Environmental Factors........................................................................32.2 Segmentation Criteria.......................................................................................................52.3 Targeting Strategy............................................................................................................62.4 Buyer Behaviour..............................................................................................................72.5 Repositioning of Perfetto Juice........................................................................................7TASK 3......................................................................................................................................83.1 Sustaining competitive advantage....................................................................................83.2 Distribution channel in promoting customer convenience...............................................93.3 Role of pricing strategy in achieving organization objectives.........................................93.4 Promotional activities helps in achieving marketing objectives....................................103.5 Understanding extended marketing mix........................................................................10TASK 4....................................................................................................................................114.1 Marketing mix for two different market segments........................................................114.2 Marketing products to business......................................................................................114.3 International market differing from domestic market....................................................11CONCLUSION........................................................................................................................12REFERENCES.........................................................................................................................13
LIST OF FIGURESFigure 1: Elements of Marketing Process..................................................................................2Figure 2: Macro and Micro Environmental Factors...................................................................4Figure 3: Segmentation Criteria.................................................................................................6Figure 4: Target Market for Perfetto..........................................................................................7Figure 5: Distribution Channel of Perfetto.................................................................................9INDEX OF TABLETable 1: Segmentation................................................................................................................5
INTRODUCTIONMarketing principle can be refer to fundamental of promotion strategy and advertisingso that awareness of company can be spread. Further, it helps in developing marketing tacticsthrough which market segmentation and targeting can be done in desired manner. Beside this,company is also able to determine the effectual components of marketing mix (product,place, price and promotion) so that overall sales volume can be increased. Through this,business enterprise is able to attain the business objectives and also gains high competency. In this context, present report is prepared that aids in gaining deep insight of themarketing principles. For this purpose, Perfetto Juice Company is taken into account which isone of the prominent name in the field of fruit juice producing industry. In this report,discussions have been made on concepts of marketing, STP (segmentation, targeting andpositioning), marketing mix and related.TASK 11.1 Elements of Marketing ProcessMarketing process can be refer to an approach of assessing the needs and wants of thecustomers and addressing the same so that overall efficiency of the company can beincreased. In this, suggestions are taken from customers and same is analysed in order todevelop required products and services (Akaka, Vargo and Lusch, 2013). Considering this,following are the elements of marketing process that can be taken into account by Perfetto:oAnalysis of Marketing Environment: It is required to assess the external environmentin order to identify the influence of political, economic, social and technologicalfactors on the company. For this purpose, cited company can incorporate PESTLEanalysis that certainly briefs about key external factors. Further, SWOT analysis canbe incorporate to assess the capabilities of the organisation (Armelini and Villanueva,2011).oMarketing Strategy: Once, environment is assessed then marketing strategy needs tobe developed in order to identify the segment and target markets. In this regard,Perfetto need to conduct segmentation, targeting and positioning so that effectualadvertising can be done. Page | 1
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