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Marketing Principles Assignment "Appy Foods and Drinks"

   

Added on  2020-06-04

14 Pages4384 Words47 Views
MARKETINGPRINCIPLES

Table of ContentsTASK 1............................................................................................................................................11.1 Different elements of the marketing process.......................................................................11.2 Profits and costs of a marketing orientation for Appy.........................................................2TASK 2............................................................................................................................................32.1 Macro and micro environmental factors which impact marketing decisions........................32.2 Partitioning criteria to be used for products in various markets...........................................42.3 Targeting strategy for a selected product/service..................................................................52.4 Buyer behavior affecting marketing activities in various buying situations.........................62.5 New positioning for a selected product/service....................................................................7TASK 3............................................................................................................................................73.1 How products are improved to gain competitive advantage.................................................73.2 How distribution will be organized to provide customer comfort........................................83.3 How costs are set for new product to show objectives of Appy...........................................93.4 How promotional activity is integrated to attain marketing objectives..............................103.5 Additional elements of the extended marketing mix..........................................................10TASK 4..........................................................................................................................................114.1 Marketing mixes for two different segments in consumer markets....................................114.3 How and why global marketing differs from domestic marketing....................................11REFERENCE.................................................................................................................................12

TASK 11.1 Different elements of the marketing processMarketing is the process of creating value to the customers. It inclusive of analyzingmarket opportunities, selecting target audience, developing the marketing mix and managingmarketing functions systematically (Kotler and Armstrong, 2012). In the case study of “AppyFoods and Drinks”, CEO decided to initiate his idea of expansion the product range to ethicalfoods, which is preferred by millennial generation. The following elements of the marketingprocess (Kotler and Keller, 2006) are explained through this case study.Understand the market place and customer needs and wants : As an initial step of themarketing process, it is needed to analyze the industry and environment of theorganization, within which it operates, to gather customer information as well as thecompetitors. According to the, Appy Foods and Drinks they should analyze theircustomers’ preferences in the fast moving consumer goods industry. Though the CEOunderstands the millennial generation is concerned on ethical foods, but it is notenough to expand their natural products to cater them. They should analyze theirinternal environment as well as external environment to analyze the company’scapabilities, external threats and opportunities by using SWOT, PESTEL, Porter’sfive forces model, etc.Design a customer driven market strategy : Under this element, the marketers shouldidentify the target market, that is the audience to whom the products are focused.Appy Foods and Drinks currently supplies the products to kids and families. But thenew range of ethical foods is designed to cater the needs of Millennial Generation.Construct an integrated marketing programme that delivers superior value : Here theimportant element is marketing objective. It can be designed in accordance with themission of the company and should closely associated with the business strategy.1

Hence, Appy Foods and Drinks should design the marketing objective within theframework of become no.1 in healthier and ethical choice to cater millennialgeneration. Because their new product are designed to cater the millennial generation,since it should be specified in this marketing plan (for ethical foods).Dealing with marketing mix : Here it is important to consider the elements ofmarketing mix, that is of 4ps (price, product, promotion and place). This should beattractive to the customers which enable to compete in the industry. Appy Foods andDrinks, has already decided the product as ethical foods but should be more specifiedas drinks or foods. Price should be reasonable, and promotion should be attractive tothe millennial generation. Hence, electronic devices can be used as the mode ofpromotion. Place should be superstores and well-being stores which attract millennialgeneration. Measure, control and revising the marketing strategy : To maintain the effectivenessof marketing strategy it should be assessed annually, at least, and accordingly theexisting strategy can be altered. This company should also review their strategies toattract more customers and to be a dominant firm in the industry.1.2 Profits and costs of a marketing orientation for AppyMarket orientation is vital in this competitive environment, which prioritizes thecustomers’ satisfactions in the marketing process (Lambin, 2008).. The product extensionmarketing plan of Appy Foods and Drinks, it is important to evaluate the benefits and costs of amarketing orientation. Benefits: when extending the product range Appy Foods and Drinks should closelyassociated with the target customer of millennial generation to get to know the type,quality and price of the product to be decided. Under this, company can collectinformation on the demand for ethical products from millennial generation. This will helpin anticipating and developing the ethical products to which they prefer most. Mostimportantly market orientation will help to build the long-term customer relationshipwhich enhances the customer loyalty and brand value. 2

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