Marketing Principles and Techniques Solved Assignment

Added on - 08 Jan 2021

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Marketing Principles andTechniques
Table of ContentsMarketing Principles and Techniques..............................................................................................1INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1TASK 2............................................................................................................................................3TASK 3............................................................................................................................................4TASK 4............................................................................................................................................5CONCLUSION................................................................................................................................6REFERENCES...............................................................................................................................7
INTRODUCTIONMarketing is a technique that uses to explore a business among user to increase theirdesire to enhance the purchases that eventually hike the profit of the business. Basically,marketing is a tool which utilizes to recognize the needs of the targeted customers and amongwhom who can make transactions to satisfy the both sides The Goodhood Store is a departmentstore that holds everything from stationary to apparels even footwear. It is a small family runningbusiness the entire family is putting their efforts earn high profits but they has a less marketshare. So in order to increase the market share they need a marketing team which utilize all itstechniques like research, segmentation and so on (Marshment, 2014).TASK 1Marketing BasicsMarketing is a technique which used by various organizations whether they are the giantsof the market or a small or medium company. When a firm establishes its business it hires amarketing team that scream about the company's existence and the products which is offered bythem. It is uses to make public aware that they should know that there is a some firm which isoffering the desired products that for what the people looking for. 'The Goodhood Store' shouldalso hire a marketing team that can tell the people about the products that are showcasing in thestore.Marketing activitiesThere are various activities that are followed by other business in order to promote theirbusiness to earn profit. The activities are:Market research :Marketing department conduct a research to know the needs of thepeople in a certain region where the firm is working. A store should provide all the things whichare required by the target customers.Strategies :After the research the team put their efforts to construct strategies that canimprove the business effectively.Product development and supply :The product which are most demanded by thepeople that should be developed by the firm for example, the designer clothes cause that arealways in demand. The stationary and footwear should be supply when it needed by thecustomers so that it the overstock problem can be avoided.Communications :Marketing team needs to maintain the communication cause that cantransform the required informations to accomplish the objectives (Lilien, Rangaswamy andBruyn, 2013).1
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