Marketing Mix for Business Expansion

This assignment analyzes how a large business organization can leverage the elements of the marketing mix to achieve successful expansion. It highlights the importance of introducing innovative products and reaching a wider customer base through effective marketing strategies.

Marketing Principles
and Practice

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Definition of marketing ........................................................................................................1
1.2 Contribution of marketing in achievement of business objectives.......................................1
1.3 External factors influencing marketing ...............................................................................1
1.4 Role of marketing in a not for profit business ......................................................................2
1.5 Elements of the marketing process.......................................................................................2
TASK 2............................................................................................................................................3
2.1 Elements of the marketing mix.............................................................................................3
2.2 Methods of segmenting markets...........................................................................................4
2.3 Benefits of segmenting markets............................................................................................4
2.4 Methods of researching a market..........................................................................................4
2.5 How current technology impacts on marketing activity.......................................................5
TASK 3 ..........................................................................................................................................5
3.1 Review of market segments for the business........................................................................5
3.2 How the business positions its products and/or services .....................................................5
3.3 How products are distributed................................................................................................5
3.4 Use of pricing strategies .......................................................................................................6
3.5 Promotional strategy used by the business ...........................................................................6
TASK 4............................................................................................................................................6
4.1 Strategic aims and objectives for the plan.............................................................................6
4.2 Target market(s) for marketing activity................................................................................6
4.3 Macro and micro environmental factors influencing the marketing planning......................6
4.4 Propose a marketing mix.......................................................................................................7
4.5 Factors relevant to the implementation of the plan have been considered............................7
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing includes various functions such as searching the market, advertising, selling,
delivering etc. these all are the major functions of marketing. The people who work in
department of marketing in any business organisation are widely focused on gaining attention of
targeted audiences through applying effective packaging designs, slogans, advertising campaign
(Cox and Wray, 2011). Ms B's Cakery is a small cupcake firm in Hong Kong and deals in high
quality and fresh bakery products and services. The company is widely concern on expanding
their business activities at large scale through applying various marketing tools and techniques at
market place.
TASK 1
1.1 Definition of marketing
Marketing can be considered as the combinations of various activities that are associated
by business organisations in order to buying and selling of goods and services at market place. It
can be considered as the vast concept which is based on building an effective relationship among
an organisation, product and customers through understanding the value of their needs and
wants. Marketing is a human activity directed at satisfying needs and wants through exchange
process. It means working with markets which in turn means attempting to actualise potential
exchanges for satisfying human needs and wants.
1.2 Contribution of marketing in achievement of business objectives
Marketing plays an imperative role in growth and vitality of any business organisation. It
aids managers in attaining and retaining customers towards firm. Therefore, if a firm has higher
level of customers; it results enhancement in sales and profitability through which business
organisations will easily achieve their goals and objectives. Along with this, marketing covers
all requirements in order to satisfy customers (Gordon, Carrigan and Hastings, 2011). According
to the marketing association, its a process of forecasting as well as implementing the concepts of
promotion, pricing and distributions of goods in such way to accomplish organisational goals
and objectives.
1.3 External factors influencing marketing
In this over dynamic business environmental, there are different types of external factors
which are uncontrollable and put a vast impact on business growth and success. There is

describe certain major external factors that is effect working activities of a firm, such are stated
as under: -
 Competition
 Government laws and policies
 Natural forces
 Social and cultural factors
 Demographical and technological changes.
1.4 Role of marketing in a not for profit business
Marketing department of Ms B's Cakery focus on set of core principles of marketing
that is product, price, place, promotions, physical evidence, process and people. The employee
responsibility to identifying that appropriate price of product so that company achieve
competitive advantage. At work place company want to create good interior for customer to give
best experience of physical evidence that increase customer retention (Harrigan and Hulbert,
2011). Firms want to promote their product through promotional activities at work place like
making largest cake on Christmas In city, competition between customers etc. company focus on
product delivery process, employee serve product creatively to customer for gain their
attention so that customer attract with product. Firm should focus on customers feedbacks about
product and services so that company may able to serve best to their customers.
1.5 Elements of the marketing process
Below describe several elements that are involved in marketing process of Ms B's
Cakery, such as- Situational analysis – It includes different types of analysis like SWOT, PESTLE,
Porter's five forces or stakeholders analysis. These analyses can be used by company in
order to determine those internal and external factors which can affect firm's productivity
and market reputation. Marketing objectives – It is essential for managers to set certain goals and objectives that
they want to achieve. Marketing objectives should be based on SMART targets in which
S stands for specific, M stands for measurable, A stands for attainable, R stands for
reasonable and T stands for time bound. Marketing strategy – In order to achieve marketing objectives business organisations can
follow STP marketing strategy. It concerns with segmenting, targeting and positing.

 Marketing mix – it involves four Ps, such as- product, price, place and promotion.
 Implement and control – At last, the overall plan is implemented within organisation; it
should be monitored on regular basis.
TASK 2
2.1 Elements of the marketing mix
Marketing mix plays essential role in business organisation as it is a combination of
various elements that are essential in creating awareness among people about the products and
services of firm. The basic elements of marketing mix are evaluated as below:
(Source: The marketing mix 4P's and 7P's, 2018) Product: This can be determined as the most essential tool of marketing mix as it is
offered by firm to their potential buyers. Ms B's Cakery has varity of high quality
products and services which are offered by them in order to satisfying the needs and
wants of customers at market place. Price: As a small business organisation Ms B's Cakery adopt least pricing method in
order to attracting large number of customers towards their firm and offered goods. The
company sell their high quality products in less prices (Jobber and Ellis-Chadwick,
2012). Place: This is also an another important attribute of marketing as it considered as the
place where organisation sell its products and services to their significant customers. As
a cupcake company Ms B's Cakery is mainly targets kids and teenagers as in this age
group the consumption of bakery items are high.
Illustration 1: Marketing mix

 Promotion: These are the processes that are used by firm to communicate the features or
benefits of the products and services. Company mainly promote their products through
social media.
2.2 Methods of segmenting markets
These are the main methods of marketing segmentation, such are stated as under: - Geographic Segmentation – In this, market is divided on the basis of geographic criteria,
like country, region, climatic zone etc. Demographical segmentation – It assumes that customers of same demographic profile
will have exhibited same purchasing patterns (Lang and et. al., 2012). These are some
demographic variables, like age, occupation, income level, gender, socio-economic,
material status etc.
 Psycho graphic segmentation – The segmentation can be measured by determining the
activities, opinions and interests of customers.
2.3 Benefits of segmenting markets
The major aim of marketing segmentation is to define a particular subset of purchasing
public which aligns with products and services of business. In addition, companies often
determine market segmentation. It also accessible in assuming cost reduction in an attempt to
capture with widest possible cross section of consumer produces (Wood, 2012). Along with this,
market segmentation allows a business to generate new new and innovative products so as to
fulfil customers needs and want in an effective manner. It is also beneficial to determine
undeserved markets that renders a golden opportunity to a business organisation so as to
establish itself effectively in target market.
2.4 Methods of researching a market
These are some major methods to conduct a marketing research such as-
Primary research – Usually, primary research focuses on gathering information directly
for specific purpose of research rather than being collected from already published resources. It
includes – surveys, direct observations, questionnaire, interviews, focus groups etc. Along with
this, primary researcher provides control over the types of questions that are asked in gathering
information.
Secondary research – The research collects existing information by available sources.
These are the main examples of secondary research, such as- information on the internet,

existing data from own customer data base, government agencies, local councils and libraries
(Lefebvre, 2011). Therefore, managers can use secondary research for initial understanding of
market.
2.5 How current technology impacts on marketing activity
Technology plays an effective role in attracting more and more customers. It affects the
ability to gather and organise data from different channels so as to reach numerous customers in
a certain time period. Business organisation has vast data as well as marketing formats. So that
they are used different online platforms like social media, web portals, websites in order to
interact with target and potential customers. These are certain sources or channels which can be
utilised to interact with perspective buyers, such as- search engine results, banner ads, social
networks, online reviews, blog posts etc.
TASK 3
3.1 Review of market segments for the business
Many business units have target markets in addition to customer target markets. In order
to gain high competitive advantage and market growth Ms B's Cakery is using demographical
market segmentation. In this relation, firm can sell its products to different age groups by
identifying their needs and desires.
3.2 How the business positions its products and/or services
Every firm wants to achieve higher market position in its target market. For this purpose,
it is always focused on improving the quality of their products and services and provide them on
reasonable prices so that customers can easily afford them (Lefebvre, 2012). It helps in boost
market image of company among customers. Apart from this, business organisations can also
gives different discounts to customers for improving brand position.
3.3 How products are distributed
Products distribution is the process in which a manufacture sells its products and services
to customers. There are direct and indirect channels of product distribution. In direct channels,
manufacturer directly supply its goods to customers whereas indirect channels refers the
involvement of incorporate intermediaries into sales flow. There are three types of product
distribution channels, such as- intensive distribution, selective distribution and exclusive
distribution.

3.4 Use of pricing strategies
Business entities are used different types of pricing strategies so as to sell their priducts
and services in market. Prices are set to increase profitability; it is utilised in order to defend
market from new entrants. Therefore, effective pricing strategies helps managers to sustain high
competitive edge although, while selecting any pricing strategy it should be analysed that it
cannot effect customers' interest and choices towards company.
3.5 Promotional strategy used by the business
There are various types of promotional strategies, like mail order marketing, social
media, online video promotions, advertisements on websites etc. As Ms B's Cakery is a small
business organisation, thus for promoting itself and reaching large number of customers the
company is using social media advertising.
TASK 4
4.1 Strategic aims and objectives for the plan
These are some goals and objectives of Ms B's Cakery, such as -
 To attain higher productivity and performance level form employees
 To improve sales and profitability (McCabe and Meuter, 2011).
 to gain high competitive advantage by providing qualitative products and services to
customers.
4.2 Target market(s) for marketing activity
Target market includes a breaking a marketing into different segments and then deliver
products accordingly. It plays a key role to attract new business, maximising sales and making
growth and vitality of the firm.
4.3 Macro and micro environmental factors influencing the marketing planning
Below describe some macro and micro environmental factors which can affect marketing
planning of the company, such are as follow: - Macro factors – economic forces, demographical factors, cultural, political, natural and
technological factors.
 Micro factors - customers, company, public, suppliers, competitors, intermediaries etc.

4.4 Propose a marketing mix
Marketing mix a set of controllable and different market tactics that are used a firm in
order to get a desired response from its target market. It considered all things which a company
so as to affect product's demand among customers.
4.5 Factors relevant to the implementation of the plan have been considered
Different implementation tactics are used by managers so as to make planning changes.
There are several factors that are relevant with implementation of marketing plan, such as-
intervention, participation, persuasion, and edict (Moriarty and et. al., 2014). In which,
intervention relates to strategy adjustments during implementation stage; in this firm introduce
new practices and norms. Participation includes formulating strategic goals whereas persuasion
is the tactic that emphasis on how to convince employees towards desired course of actions.
CONCLUSION
From the above mentioned report it has been analysed that marketing principles and its
importance on developing organisational performance. In this, modern era competition is so
high and each small as well as large business organisation is focused on expanding their
business activities at large scale. Expansion is beneficial for firm to attaining high growth and
success at market place through gaining attention of large number of customers towards their
offered products and services. The elements of marketing mix plays a vast role in introducing an
effective and innovative product at market place as this process has various components that all
are efficient in market growth.

REFERENCES
Books and Journal
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Gordon, R., Carrigan, M. and Hastings, G., 2011. A framework for sustainable
marketing. Marketing Theory. 11(2). pp.143-163.
Harrigan, P. and Hulbert, B., 2011. How can marketing academics serve marketing practice?
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education. 33(3). pp.253-272.
Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing (No. 7th).
McGraw-Hill Higher Education.
Lang, D. J. and et. al., 2012. Transdisciplinary research in sustainability science: practice,
principles, and challenges. Sustainability science. 7(1). pp.25-43.
Lefebvre, R. C., 2011. An integrative model for social marketing. Journal of Social Marketing.
1(1). pp.54-72.
Lefebvre, R. C., 2012. Transformative social marketing: co-creating the social marketing
discipline and brand. Journal of Social Marketing. 2(2). pp.118-129.
McCabe, D. B. and Meuter, M. L., 2011. A student view of technology in the classroom: Does it
enhance the seven principles of good practice in undergraduate education?. Journal of
Marketing Education. 33(2). pp.149-159.
Moriarty, S. and et. al., 2014. Advertising: Principles and practice. Pearson Australia.
Wood, M., 2012. Marketing social marketing. Journal of Social Marketing, 2(2), pp.94-102.
Online
The marketing mix 4P's and 7P's, 2018. [Online]. Available through:
<http://marketingmix.co.uk/>.