Marketing Principles and Techniques - Assignment
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Added on 2021-01-02
Marketing Principles and Techniques - Assignment
Added on 2021-01-02
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MARKETING PRINCIPLESAND TECHNIQUES
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Marketing description.............................................................................................................1MARKET SEGMENTATION...............................................................................................3Task 2...............................................................................................................................................6Aim of market research and market analysis.........................................................................6Market Research method........................................................................................................7Market analysis tools and techniques.....................................................................................8TASK 3..........................................................................................................................................10Methods use to e market products/services..........................................................................10Task 4.............................................................................................................................................12Target Market Research.......................................................................................................12CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................17
INTRODUCTIONMarketing Principles are the basic outlet of selling, developing and promoting anyproduct/services. These strategies consist of different techniques for its strategic implementation.It involves 4 Ps, marketing mix, namely Place, Price, Promotion and Product and variouspromotional and application of models as selling tools and techniques. All the mentioned tasks will be presented in the context of Biscuiteers, a British bakingcompany started in 2007 delivering many tempting food items and bespoke and corporateservices. This report will present basic concepts of marketing such as its definition, segmentationand combination of different elements applied to product/services. It will also explain the aims ofresearch and market analysis, its tools and techniques, research methods and example of methodssuitable to the organisation(Jobber and Ellis-Chadwick, 2014).The report will describe the methods of E-marketing and will explain how companiesmanage their online image as well. The report will clear explain all the tasks with the help ofdifferent strategies adopted by Biscuiteers. It will lay out different market analysis tools of thesame company. TASK 1Marketing descriptionMarketing is a formalized approach of delivering the designed product/services tocustomers to earn profits. It basically refers to selling of goods and services by the help differentapplied strategies. It is a broad concept that involves different elements like Product, Production,Selling and Social Marketing. It is a collaboration of different activities such as Promotion,Branding, Packaging, Distribution and many more.Marketing departments undergo various activities to strengthen the framework of all otherrelated departments of organizations. These departments interlinked with HR, Operationmanagement, Finance, Accounts and other functional areas to perform number of importantactivities. Promotion It refers to highlight the positive aspect of services/products to the customers andmarket by the help of different promotional tools.1
Biscuiteers promote its products with digital promotional tools like Instagram, Twitter,Facebook. It has reached to a significant level of popularity through these promotional tools byposting its extremely delightful and tempting biscuits. BrandingIt is a predefined measures of providing a name, tag line, logo and image to services/products soenhance its identity and attractiveness among the customers. Branding provide consistency,recognition to the organization. It increases customer loyalty towards brand and deliver itauthenticity. The brand name “Biscuiteers” is very much attractive among Children and teenagers. While, itstag line, “ Why send flowers, when you can send Biscuits instead ” attracts bakers, dessertlovers, women the most. It continuously enhances its branding strategy by connecting its productwith famous personalities and events. PackagingIt is the most basic activity take place in marketing department that include serving ofproduct/services with preservations and safety to ensure desired and quality products reach to thecustomers.Proper packaging display positive image, operational efficiency and working cultureof organisation to customers. It increases customers' satisfaction, portray a responsive image oforganization.For instance, the packaging of Biscuiteers is irresistible and appealing just like its eateries. Itprovides customized and personalized biscuit boxes to its customers. The packaging varies withoccasions and festivals. It has themes like Halloween, valentine, wedding, birthday etc. Distribution It is one of the primary activity conducted by marketing department. It refers toextend channel of deliver by the support of logistics for supplying goods and services at desiredlocation and desired retailer, customers, wholesaler etc. These channels must be selected afterproper analysis and related researches for appropriate selection of distributive partners. Biscuiteers have large pool of distributors with great reach to different locations. Personnels arehighly skilled to deliver products on time. The team successfully managed to make their delicatebiscuites delivered to long distances without getting damaged. Biscuiteers effective delivery issuccessful and unhampered with expertise distributive partners and analysis of proper channels. 2
MARKET SEGMENTATIONItis a process of segmenting market in a different sector depending upon customers'behaviour, preferences, age group and other related factors. Some market segmentations likegeographic segmentation are difficult to conduct and require high operating cost. Thissegmentation provides a specific ideology and route to organization for designing distinctiveservices based on personality traits of customers. It provides a clear reach towards potentialcustomers. With the help of this segmentation, organization may increase its approach andaccessibility. There are following different types of market segmentation(Jobber and Ellis-Chadwick , 2014.)Demographic segmentation: It includes segmentation of customers on the basis of their age,gender, occupation, culture etc. It is the most common approach of segmenting market. For instance, Biscuiteers has segmented services for teenagers and children as it provideattractive, tempting chocolate delights. Its Royal wedding theme biscutes/cakes and eateries foryoung female generations and facility of nice afternoon tea sessions for middle and old agedcustomers. 3Illustration 1: Types of Market SegmentationSource: (Consumer Market Segmentation and Its Types, 2015)
“Aromatic Biscuits with fennel seeds” which is an Indian inspired dessert attracts old aged groupand people who love home made food. Behavioural segmentation: It involves the process of dividing the target customers on thefactors such as personal behaviour, attitude, influential factors etc. Biscuiteers attracts chocolate lovers, children and bakers to the most and supply numerous ofdesserts to its customers based on their preferences. The creativity of cafe attracts art lovers aswell. The company is extremely popular among designers, fashion world, Art schools for itsunique designs and lovely creativity presented on its each and every biscuits.Geographical segmentation: This type of segmentation is based on the geographic extensionsof particular services/ products. Segmentation is carried out on the basis of cities, countries,urban or rural areas. Biscuiteers is online retailer and provide its services worldwide. It has exclusive packaging andbiscuit designs and taste of different cultures. “Anzac Cookie” by Biscuiteers attracts Army ofAmerica and New Zealand. It attracts the customers throughout the world by includingingredients of different geography like aromatic biscuit with fennel seeds attracts Asian people.Psycho graphic segmentation: This strategy segments the customers on their lifestyle, Opinionsand Interests. This segmentation require keen analysis of their behaviour and their pattern ofconsidering any product/services (Psychographic Segmentation – Definition, Examples &Benefits, 2018).For instance, “Bee Berrie cookie” of Biscuiteers catches the interests of happy, positive andoptimistic people as it has LOL, OMG, FUN, YES words carved on it. MARKETING MIX:Marketing Mix is a strategy of involving different necessary factors that directly affect orinfluence the buying behaviour of customers regarding any product/services. Marketing mixdeliver strategic effect to the product/services and increase its demands in market. It consists of4Ps of marketing that are Place, Promotion, Product and Price. It facilitates different area ofmarketing by emphasising on different aspect of marketing elements. 4
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