Marketing Mix for Business Expansion

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