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Marketing Principles in Organisation

   

Added on  2020-06-04

18 Pages5372 Words69 Views
MARKETING PRINCIPLES
Marketing Principles in Organisation_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Different stages of marketing process...................................................................................11.2 Benefits and cost to Ford from market orientation...............................................................2TASK 2............................................................................................................................................32.1 Environmental that effect the marketing decision of McDonalds........................................32.2 Segmentation done by McDonalds.......................................................................................42.3 Targeting strategy for the service offered by the McDonalds..............................................62.4 How buying behaviour affect the marketing decision in different buying situation.............62.5 Propose new positioning for as elected product/service.......................................................7TASK 3............................................................................................................................................83.1 How BBK (Barclays Bank Of Kenya) gain competitive advantage by developing theirproduct.........................................................................................................................................93.2 How distribution provide customer convenience................................................................103.3 How pricing strategies reflects the organisation strategy ..................................................113.4 How promotion strategies are integrated with marketing objective...................................123.5 Three extended P's of BBC.................................................................................................12Conclusion.....................................................................................................................................12REFERENCES..............................................................................................................................14
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INTRODUCTIONDon't find customer for your product, find products for your customer. Marketingprinciples is the sum total of all the transaction involved in the transfer of goods and servicesfrom the place of producer to the place of consumer, it is all about satisfy the needs of potentialcustomer. TASK 11.1 Different stages of marketing processThere are four stage of the marketing process that are as follows:Situation analysis: In this process organisation needs to find the opportunities to satisfythe customer wants. They need to analyse the organisation's capabilities and the operationin which they are dealing with in satisfying the consumers. Analysis are created in theterms of identifying of internal and external environment. External environment includesmacro environment that is Pestle analysis of the organisation and internal environmentincludes the micro environment that is SWOT analysis of company (Serrat, 2017). It alsoincludes the analysis of 5'c which is company, customer, collaboration, competitors andclimate.Marketing strategy: After analysing the situation that is internally and as well asexternally, they need to select a perfect strategy that matches with the environment. Thisincludes selection of strategy that can able to grab all the opportunities. This strategyincludes segmentation in which one segment is being selected and products is beingserved to that segment and other is differentiated strategy in which some other benefits orinnovative products are delivered to the customer as compare to the competitor.1
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Marketing mix decision: Marketing mix includes 4 P's that is product, price, place andpromotion. Organisation selects product mix offered by them, product mix is the totalproduct line offered by the company. Price includes the strategy selected by them to setup the price of a product that includes price skimming, price penetration, cost pluspricing, bundling pricing and everyday low pricing. Place includes the distributionchannel and selection of intermediaries to deliver goods to customer. Promotion includesall the strategies to promote a product and make brand awarenessImplementation: This includes follow up the marketing strategies, production of theproduct, execution of the pricing strategy, providing goods to the distributor and doingawareness through the promotion strategy (Serrat, 2017). As the strategy areimplemented, proper controlling techniques are created to find out that the performanceare successful according to the standard are decided.1.2 Benefits and cost to Ford from market orientationMarket orientation includes product, services offered to the consumer. Processes andresearch created by the company. These four are linked in process which start with research toidentify the customer needs and wants then production process are created to offer product andservices to the consumer desired by them. The benefits and cost created to ford by marketorientation are as follows:More focus production: Market orientation created by the Ford to analyse the needand wants of the customer such as various kinds of models, features, colour andadditional services are required by the consumer that helps the company to make thefocus production and aid to the consumer to experience more satisfaction level. Theyconsider the life style, age differentiation, income of the people to identify thecustomer need that provide the entity proper use of inventory and man power toreduce wastage. The cost of production is reduced due to the Taylor production andexpenses will be decrease.Concentrated strategy: After adopting the marketing orientation, all the department ofthe Ford are aligned to being focused on the one vision that is to satisfy the needs andwants of the customer (Jongenelis, 2016). That helps the company to define the rolesof the employee more specifically. A proper process is done to do all the operation2
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