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Marketing Principles & Process

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Added on  2019-12-04

Marketing Principles & Process

   Added on 2019-12-04

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MARKETINGPRINCIPLES
Marketing Principles & Process_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Various elements of marketing process.................................................................................11.2 Benefits and costs of marketing orientation..........................................................................2TASK 2 CASE STUDY..................................................................................................................22.1 Macro and Micro environmental factors influencing Mc Donald’s marketing decisions.....22.2 Segmentation criteria to be used for products.......................................................................32.3 Targeting strategy for selected product.................................................................................32.4 How buyer behavior affects marketing activities in different buying situations...................32.5 Positioning strategy for new product.....................................................................................4TASK 3: INDIVIDUAL WRITTEN REPORT...............................................................................43.1 How products are developed to sustain competitive advantage............................................43.2 How distribution is managed to provide customer convenience...........................................43.3 How prices are set to reflect organization’s objectives.........................................................53.4 How promotional activity is integrated to achieve marketing objectives..............................53.5 Additional elements of extended marketing mix...................................................................5TASK 4............................................................................................................................................64.1 Marketing mixes for two different segments.........................................................................64.2 Difference in marketing products to businesses rather than consumers................................64.3 Why international marketing differs from domestic one.......................................................6CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................8
Marketing Principles & Process_2
INTRODUCTION Marketing is generally regarded as the transfer of goods from producer to the seller andtakes into consideration various forms of activities such as advertising, shipping, storing etc. Inthe modern era with the rise in level of competition it has become difficult for every business tosustain in the market and due to this reason effective marketing strategies are required. Further,their exist large number of marketing principles which every business needs to consider foroperating efficiently and they are differentiation, narrow market focus, strategy before tactics etc(Fillis, 2003). Moreover, various factors are macro and micro level are present which companyneeds to consider for its growth and development. In the present report various organizationshave been chosen named sleepwell, Mc Donalds etc. Every business operates in different sectorsand the range of tasks which report covers are various elements of marketing process, macro andmicro environmental factors, positioning strategy for product etc. TASK 1 1.1 Various elements of marketing processMarketing process takes into consideration series of activities through which it becomeseasy for business to operate efficiently in the market. The key elements of marketing processwhich Sleepwell has to consider are as follows:Carrying out market research: It is one of the major element where business company has tocarry out market research in order to determine need and requirement of its target market. Byknowing their actual requirement business can offer them products and this enhances marketperformance of organization (Gainer and Padanyi, 2002).Developing marketing strategy: After knowing taste and preferences of customers marketingstrategy is developed so that customers can be attracted towards range of products in the market. Managing promotional tools: For effective promotion of the product range it is necessary forSleepwell Company to have effective promotional tools so that sales volume can be enhancedeasily.Optimizing sales volume: Through effective marketing, promotion and advertisement it ispossible for organization to enhance sales volume and in turn it has positive impact on the brandimage also. 1
Marketing Principles & Process_3

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