Marketing Process and Applications

This assignment delves into the complexities of the marketing process. It requires students to thoroughly examine the core components of marketing: product, price, place, and promotion. Furthermore, the assignment challenges students to apply their understanding of these elements by analyzing real-world examples and case studies from diverse industries.

MARKETING PRINCIPLES

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Different stages of marketing process...................................................................................1
1.2 Benefits and cost to Ford from market orientation...............................................................2
TASK 2............................................................................................................................................3
2.1 Environmental that effect the marketing decision of McDonalds........................................3
2.2 Segmentation done by McDonalds.......................................................................................4
2.3 Targeting strategy for the service offered by the McDonalds..............................................6
2.4 How buying behaviour affect the marketing decision in different buying situation.............6
2.5 Propose new positioning for as elected product/service.......................................................7
TASK 3............................................................................................................................................8
3.1 How BBK (Barclays Bank Of Kenya) gain competitive advantage by developing their
product.........................................................................................................................................9
3.2 How distribution provide customer convenience................................................................10
3.3 How pricing strategies reflects the organisation strategy ..................................................11
3.4 How promotion strategies are integrated with marketing objective...................................12
3.5 Three extended P's of BBC.................................................................................................12
Conclusion.....................................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Don't find customer for your product, find products for your customer. Marketing
principles is the sum total of all the transaction involved in the transfer of goods and services
from the place of producer to the place of consumer, it is all about satisfy the needs of potential
customer.
TASK 1
1.1 Different stages of marketing process
There are four stage of the marketing process that are as follows:
 Situation analysis: In this process organisation needs to find the opportunities to satisfy
the customer wants. They need to analyse the organisation's capabilities and the operation
in which they are dealing with in satisfying the consumers. Analysis are created in the
terms of identifying of internal and external environment. External environment includes
macro environment that is Pestle analysis of the organisation and internal environment
includes the micro environment that is SWOT analysis of company (Serrat, 2017). It also
includes the analysis of 5'c which is company, customer, collaboration, competitors and
climate.
 Marketing strategy: After analysing the situation that is internally and as well as
externally, they need to select a perfect strategy that matches with the environment. This
includes selection of strategy that can able to grab all the opportunities. This strategy
includes segmentation in which one segment is being selected and products is being
served to that segment and other is differentiated strategy in which some other benefits or
innovative products are delivered to the customer as compare to the competitor.
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 Marketing mix decision: Marketing mix includes 4 P's that is product, price, place and
promotion. Organisation selects product mix offered by them, product mix is the total
product line offered by the company. Price includes the strategy selected by them to set
up the price of a product that includes price skimming, price penetration, cost plus
pricing, bundling pricing and everyday low pricing. Place includes the distribution
channel and selection of intermediaries to deliver goods to customer. Promotion includes
all the strategies to promote a product and make brand awareness
 Implementation: This includes follow up the marketing strategies, production of the
product, execution of the pricing strategy, providing goods to the distributor and doing
awareness through the promotion strategy (Serrat, 2017). As the strategy are
implemented, proper controlling techniques are created to find out that the performance
are successful according to the standard are decided.
1.2 Benefits and cost to Ford from market orientation
Market orientation includes product, services offered to the consumer. Processes and
research created by the company. These four are linked in process which start with research to
identify the customer needs and wants then production process are created to offer product and
services to the consumer desired by them. The benefits and cost created to ford by market
orientation are as follows:
 More focus production: Market orientation created by the Ford to analyse the need
and wants of the customer such as various kinds of models, features, colour and
additional services are required by the consumer that helps the company to make the
focus production and aid to the consumer to experience more satisfaction level. They
consider the life style, age differentiation, income of the people to identify the
customer need that provide the entity proper use of inventory and man power to
reduce wastage. The cost of production is reduced due to the Taylor production and
expenses will be decrease.
 Concentrated strategy: After adopting the marketing orientation, all the department of
the Ford are aligned to being focused on the one vision that is to satisfy the needs and
wants of the customer (Jongenelis, 2016). That helps the company to define the roles
of the employee more specifically. A proper process is done to do all the operation
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that are taking place in the company which provide more benefits to the company
such as reduction in marketing cost, decrease in cost of production and easy and fast
decision making.
 Marketing advantage: When the Ford have good understanding that what are needs
and wants of the market. They not only know the desire of the customer but they are
effectively conveying the brand awareness by communicating the message about the
company that will reduce the paid form of promotion and adopt the non-paid form of
promotion that is word of mouth by satisfying their wants.
 Long run profitability: Consistently delivering and understanding that what the
marketplace needs that provide the profitability in long run to the Ford. They can able
to retain the old customer and there will be brand loyalty for the company. This will
lead to reduction in the cost of marketing as consumer are aware about the product
and company
TASK 2
2.1 Environmental that effect the marketing decision of McDonalds
There are various factors that affect the McDonalds in making the marketing decision.
This involves the internal factor that are micro environment and external factor that are macro
environment. These are as follows:
 Employees: In McDonalds there are more than 3,90,000 workers are on the job. The
company needs employees for running their business that include recruitment, training
and developing the staff and providing wages to them (Hansen, 2017). As the new people
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that is youth workforce are appointed to the company so the old people should be
provided higher wage rate, if not then they will switch to other organisation that leads to
increase in turnover rate.
 Customer: Consumers are god for the organisation, McDonalds needs to identify the
necessity and wants of the market. In everyday around 54 million are being served by the
company. For McDonalds the target market is youth people that's why the company are
always conscious about their desires that what are their choice, taste and preference,
quality and friendly services. The entity need to take decision according to the consumer.
 Competitor: The main competitor for the McDonalds are Wendy's, Burger King and
Hardees. The company always keep the eye on the competition that what strategy they
are following and how their existence will affect the company market share. The
company needs to make pricing, marketing and promotional strategy according to the
competitor to gain sustainable advantage.
 Technology: McDonalds use automated machine to produce Burger, Salad, and they grill
all fries, Nuggets and meet patties in their own kitchen. The equipment, temperature
regulation, temperature regulation, financial information, communication and inventory
upkeep they are all linked to different technology. In that way technology factor affect
the McDonalds for making marketing decision (Banerjee, 2016).
 Culture and religion: McDonalds are doing their business worldwide, so the different
religion and culture people having in different region. The company has to take in
consideration the people religion, rules and ethics for selecting the marketing strategies.
 Political: Different countries have various political view, decision, motives, rules and
regulation. The company have to take care about all the law that are created by the
government and accordingly they create strategies.
2.2 Segmentation done by McDonalds
McDonalds target market on the four segment geographic, demographic, behavioural
and psycho-graphic
Geographic Region Domestic/International
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Density Urban/Rural
Gender Males and Females
Age 4-8, 8-15, 15-25, 25-40 and 40
above
Demographic Income Middle class and lower class
Life-cycle Bachelor stage: young,
committed, single, not living at
home
Newly married: young that have
no children or having one small
child
Occupation Employees, students and
professional
Behavioural Benefits given Time efficiency and cost
benefits
Degree of loyalty Switchers and hard-core loyalty
customers
User status Have regular fast food or
potential fast food
Personality Do not have more care and
easy-going life style
Psychographic Social class Working class, middle class and
lower class
Lifestyle They target struggler and
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mainstreamer individual
accordance to consumer
characteristics
 Geographic: McDonalds is serving around 120 countries currently had having
approximately 36,900 outlets. It is the world largest chain outlet
 Demographic: McDonalds produce different product for the people of different ages
group and having different price level according to the income such as McAlootikki for
the daily earners.
 Psycho-graphic: McDonalds needs to make updates in their menu according to the
country culture such as in India people are vegetarian so they serve vegetarian food and
in UK people used to eat sea food so they serve sea dishes (Sutanto, 2016).
2.3 Targeting strategy for the service offered by the McDonalds
Special service provided by the McDonalds is playing area. There is playing place for the
children to play and enjoy. There are some sport games like Table Tennis, Long tennis, Cricket
and basketball and some other games like bike racing, car racing etc. The company provide these
facilities to attract large number of customer and gain competitive advantage. These facilities are
basically for those families who have children so that they enjoy the meal by keeping their child
at the playing station. Another service is providing discount on anniversary and birthdays. When
the customer enters into the outlet, basic information is taken by the company like their name,
phone number, birth dates, anniversary dates and keep into their record. A message is made by
the company to the customer on his/her birth dates and communicating the facility provided to
them on this special occasion. These strategies help the company to attract large target market
and gain competitive advantage.
2.4 How buying behaviour affect the marketing decision in different buying situation
There are four types of buying behaviour of the customer complex dissonance habitual
and variety seeking. Company should consider all type of buying behaviour so that they can able
to attract all types of consumer, these buying behaviour affect the organisation in many ways,
these are as follows:
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 Complex buying behavioural: In this consumer shows high level of involvement at the
time of buying the goods and services. They observe all the things like what is product,
what are the addition services provided by the company, who is distributor, who are the
competitors, are competitors proving the same level of satisfaction at the lower price,
what is the quality of the product, any discounts, how much it cost to me etc (Lenk,
2016). this type of buying of the customer are on expensive products like cars, mobile,
laptops and insurance policies. Company should consider all these things while producing
and selling the products.
 Dissonance buying behaviour: This type of buying behavioural occurs when the customer
is confused about the brands. The two brands are providing the same level of services,
quality and at the same cost but there is little differences in two brands so customer are
highly involved in making the decision. Company choose the differentiation strategy so
that they can able to attract those consumers who are at this level where choose their that
company product who use differentiate strategy
 Habitual buying behavioural: Consumer involvement level is low as come to the above
two. Where there is no difference between the brands. These includes the product which
are used for daily purpose and prices are moderate such as matchbox. There is no brand
loyalty because consumer does not think more about the after sales services and
distribution channel. Consumer does not seek more information about the product and
services. Company should open number of outlets and in every location so that they can
able to reach every consumer ( Bach, 2017).
 Variety seeking buying behavioural: These are the costumer which are seeking the
variety of goods/product and services in their every purchase. In this point of time
consumer easily switch to the other company to have different type of goods. Company
can retain these consumers by updating their old product with some innovative feature
and services.
2.5 Propose new positioning for as elected product/service
Positioning is the place where company wants to expand their business in the market by
targeting more and more customer. Moreover, this tells about the various approaches which must
be made in order to attract and influence the customer. It is totally describing and evaluating the
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product features to the customer. Such features can be the product, place, promotion and
distribution. This is the way through which company conveys the message related to the product
or launches the new product in the market to customers (Jiratchot, 2016). Company needs to
provide the positive and good wills of the product or the information which can influence the
customer to purchase those products. While making the positioning company needs to keep the
customer of that area as main priority.
The marketing positioning depends on the four main factors which is mainly considered by the
McDonald's they are demographic, behavioural, geographical and psycho-graphic. For the
company makes the marketing strategies and researches which are completely based on the
customer. McDonald's has established prominent position in customer's mind in UK. The brand
is well known and is effectively used the company. The positioning in the organization is not
considered as the physical location or distribution area. McDonald's have to use various ways in
order to bring the product to the customer's. There are various store of McDonald's at UK malls
and at other places which are preferred by the customer's and are utilized for enjoying the meals.
The pricing of the McDonald's product is to affordable to customer's. From the establishment of
the company, the positioning of the company is considered to be the best. Company uses various
positioning strategies which directly influence the customers towards their product (Steenkamp,
2017). Such effective positioning strategies are made in order to provide high competition to the
competitors. The company initially used mascot was the Hamburger-shaped head of a man
having chef's hat. Company named him Speedee which was replaced in 1967 by Ronald
McDonald which was clown shaped man. This mascot got popularize among the children. From
past many years the company has maintained an extensive marketing and advertising campaign.
Various other tools are used by the company in order to influence the customer's like t.v., social
media, commercials, radio etc. Moreover, the company uses sign broads, sponsorships to the
sport's sector which highly promote the company. Company used the factors like brand,
innovation and the geographical positioning to reach their customer's. The company is expended
worldwide and offers various services like home delivery option which makes great impact on
the customer's. McDonald's provided various ranges of product to the customer's. Majority of
people living in the UK are from different country so the positioning of the company is also
same having all the variety. At last customer's feedback is what motivates the company to make
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new products and have better and more effective positioning in UK. Company uses international
menus which shows how company is focused on targeting customer's.
TASK 3
3.1 How BBK (Barclays Bank Of Kenya) gain competitive advantage by developing their
product.
Competitive advantage is defined as strategic advantage in which entity offer the same
product but with the premium quality or offer the same product at lower prices as compare to its
competitor. This helps the company to survive against the competitor for a long period.
Business has many ways from that they can able to develop products so as they built competitive
advantage, these are as follows:
 Product release time into the market: The strategy is to holing some development that
they make to their product, not to release all the version of product at the same time. This
create the excitement in the mind of consumers, when the customer compare the rival
product they feel that rival products are boring (van Heerde, 2017).
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 Unique product benefits to internal customer: BBK provide differentiate products and
special benefits to the members of the company other than rival are doing. This will
create the customer's loyalty for the company and can have competitive advantage.
 Proper research and marketing of the product: Before doing production process, company
should do proper research that the entity should know the needs and wants of the
consumer and produce accordantly so that consumer desire is fulfilled. As the production
process is done, awareness is must. Consumers should know about the company and their
product and benefits provided by them. Company should make sure that there is high
demand for that product and then launch the product that will give the entity a
competitive edge.
BBK gains competitive advantage by cost reduction, outsource some value chain activities,
product differentiation strategy, quality product and services, strategic alliances, market
development, kaizen approach (continuous development), providing wide range of products and
services, continuous brand development, aggressive promotional campaigns and product
development.
3.2 How distribution provide customer convenience
Distribution channel play a very important part in order to serve convenience to the
customer. This channel includes whole-seller, dealer, retailer and supplier (Jiratchot, 2016). The
distribution channel possesses such importance because this create visibility and accessibility to
the consumer. It is providing the right products at right quantity to the right place at right time
and right price. In today's world consumer is very engaged in their professional and personal life,
they don't have time to go bank as access services, they want all the activities are done from the
home only. BBK provides
 Internet retail banking: Customer need to log in to their BBK internet retail banking with
their customer id and password, which allows them to gain right to their personal
accounts in a convenient, safe and healthy secure environment. The services provided are
internet retail banking, tele-banking by dealing 17214444, mobile banking, SMS banking
and e-statement.
 SMS banking: Customer can access to SMS banking by making SMS from your
registered mobile number, only the standard message usage fees has been deducted by the
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telecom service provider. Consumer will receive machine-controlled notification for the
transaction and events to their registered mobile number through which they can able to
know their account balance and customer id, amount debited and credited to their account
and view their last transaction. This will help the consumer to save time and enjoy the
convenience of instant banking facilities (Kim, 2016).
 Mobile banking: Retail banking dealing can be done immediately from the mobile
anytime and from anywhere with the security. The features and benefits BBK mobile
banking provide is it is free of charge, secure and private, fast and convenient, transaction
review and 24/7 accessibility. The services provided to the customer are as follows:
a) Account enquires: It includes account summary and mini statement.
b) Transfers: It can be done between your personal accounts, to the other BBK account, external
accounts within Bahrain and abroad.
c) Payments: It includes Bateico bill inquiry, SimSim top up, Zain bill inquiry, Bateico bill
payment, Zain bill payment, eeZee top up, electricity and water bill and quick payments.
d) Request: It includes chaque book request and call back i.e. requesting acall back which suits to
the customer.
e) locators: This includes Branch locator, ATM locator and cash deposit machine locator
F) CrediMax services: It includes CrediMax card payment of the customer own card from the
any accounts, other cards from any of the customer account, card balance inquiry, last
transaction and stop CrediMax card.
These facilities which is given by the BBK will provide the customer a better convenience and
ease of access their account from anywhere they are with the proper security measures.
3.3 How pricing strategies reflects the organisation strategy
The pricing policies generally show the market in which they are aiming to sale their
product and services. The prices are not generally set to maximise profits and sale. There are
many factors to be consider while setting the prices, these are cost of production, prices of
competitor product, proposed positioning stratifies and target market. BBK adopts the price
penetration strategy i.e. setting up of prices of products and services in a low price where they
can able to gain competitive edge by gaining the large market share. The company strategies are
discipline strategic growth, build new revenue stream, deliver transformational projects, deliver
customer focus service, built and strengthen their teams, deliver financial targets and build and
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differentiate their brand. For achieving these stratifies BBK provides their customer different
payment flexibility option, with 25% discounts on their mobile broadband scheme, monthly free
waiver, interest free overdraft and discount rates for loan (Rad, 2016). They had also decided to
cut down their annual expenses to $24.5 billion that is 25% reduction in operation cost so that
they can able to manage their expenses. This will directly lead to reduce to cost and production
as well the price of products.
3.4 How promotion strategies are integrated with marketing objective.
Promotion is the process of communicating the features and benefits of the product in the
target market. Marketing objectives are to attract the new customer and retain the old customer to
gain large market share. Barclays focus on 360 branding and marketing. The objective of the
company aims at the comprehensive marketing goals that is to reach all the customer. The
strategies used by them to accomplish their objective are as follows
a) word of mouth campaigns, posters, press releases and brochures.
b) Add on websites, billboards, TV, direct mail and magazines.
c) Sponsors various programmes for making brand awareness like Barclays Football Premiership
league.
d) the company appointed Indian cricket Sensation 'M.S. Dhoni' as the brand ambassador for the
Barclays Premium League in India.
3.5 Three extended P's of BBC
 People: BBC is the leader in employee retention and satisfaction. They provide
the unique flexibility schemes where employees are given choice to select the suitable
benefit. These include pension, incentives and performance based bonus. Apart from
these, other are medical benefits and insurance to them and their families. These benefits
are given to improve and maintain the work environment.
 Process: Overall process of the company is unique, straight forward and easy to use. They
have both physical and virtual platform for transaction (Fraver, 2017). They are given as
ease of carrying out the variety of transition at the same time and the same place, from
that is it convenience to customer with high security.
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 Physical evidence: BBC had launch Barclays Mobile App for the global customer to
carry out the transaction. Apart from this they have also introduced country/region wise
Apps such as Barclays Ghana, Barclays Namibia etc.
Conclusion
It can be concluded that the project has been decided into four segments, in first segment Ford
has been selected which is American multinational auto-maker who do market orientation in the
first stage to identify the customer need and then proceed for production. In second segment
McDonalds has been selected which is American fast-food and hamburger restaurant chain, they
focus on STP strategy because they have to serve products and services according to culture. In
third segment Barclays Bank of Kenya has been selected where they had focus on marketing mix
that is 7 p's and in forth segment Vodafone has been selected where company does marketing
mix on the basis of UK v/s international level and consumer v/s business segment.
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