Report on Concept and Process of Marketing
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Added on 2019-12-03
Report on Concept and Process of Marketing
Added on 2019-12-03
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MARKETING PRINCIPLES
TABLE OF CONTENTSIntroduction......................................................................................................................................3Task 1...............................................................................................................................................3(a) Elements of marketing process...............................................................................................3(b) Benefits and cost of marketing orientation............................................................................4Task 2...............................................................................................................................................4(a) Macro and micro environmental factors.................................................................................4(b) Basis of segmentation.............................................................................................................6(c) Factors of targeting a market segment....................................................................................7(d) Concept of consumer buying behaviour.................................................................................7(e) Re-positioning of a product....................................................................................................8Task 3...............................................................................................................................................9(a) Products are developed to sustain competitive advantage.....................................................9(b) Role of distribution channel.................................................................................................10(c) Role of pricing strategies......................................................................................................10(d) Integration of promotional activity......................................................................................10(e) Extended marketing mix.......................................................................................................11Task 4.............................................................................................................................................11(a) Different marketing mix strategies.......................................................................................11(b) Differences in marketing products to businesses.................................................................11(c) Different marketing activities in a domestic market and international market....................12Conclusion.....................................................................................................................................12References......................................................................................................................................132
INDEX OF TABLESTable 1: Porter's 5 forces model......................................................................................................7Table 2: Difference between Domestic Marketing and International Marketing..........................14ILLUSTRATION INDEXIllustration 1: PESTLE Analysis......................................................................................................6Illustration 2: Elements of extended marketing mix......................................................................133
INTRODUCTIONMarketing can be defined as a range of processes which are concerned with finding outthe consumers’ needs and wants and then providing them the products which satisfy their wants.The key element of marketing involves 4 Ps (Carr, 2008). This report is concerned about themarketing principles which will be applied on Perfetto Juice Company which sells healthybeverages around the globe so that they can provide the best products which would satisfy theneeds of consumers. This report is mainly focused on the concept and process of marketing andthe concept of segmentation, targeting and positioning. Further, discussion has been made on theunderstanding of extended marketing mix elements and the ability to use it in different contexts.TASK 1(a) Elements of marketing processMarketing process is a process of finding out the potential marketing opportunities forPerfetto Juice Company in environment by the way of analyzing needs of consumers fordifferent beverage products and then developing the strategies to satisfy those needs (Darle, andBlankson, 2008). There are various steps that are commonly known as elements and which areinvolved in the marketing process of company that is enumerated as follows:1.Situation Analysis: In the first step, complete analysis of market situation is done inwhich the market research about new beverage product is conducted and opportunitiesare identified. 2.Marketing Strategy: After analyzing the market scenario, strategy is being plannedabout the development of beverage and those strategies are implemented in accordancewith the opportunities identified. 3.Marketing Mix Decisions: At this stage, detailed tactical decisions are taken such asnew product development decisions, pricing strategy, distribution channel decisions andpromotional decisions.4.Implementation & Control: The final stage is to implement the strategies and decisionstaken regarding the opportunities that have been identified about the new product launch.4
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