Marketing Principles and Techniques Report

This report explores the principles and techniques of marketing, covering topics like market research, e-marketing, and SWOT analysis. It examines how organizations can leverage marketing strategies to achieve their business goals and includes a case study of a chocolate company to illustrate the practical application of these principles.

Marketing Principles
and Techniques
1

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1: What is Marketing and different marketing activities.....................................................3
TASK 2............................................................................................................................................4
2.1 Market methods, research and analysis:...........................................................................4
TASK 3............................................................................................................................................6
4.1 E-Marketing and maintain their image.............................................................................6
TASK 4............................................................................................................................................7
3.1: Applying your learning...................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
2

INTRODUCTION
Marketing is the crucial tool in which the firm must assess their requirements of their
consumers and then incorporate the decisions in order to satisfy those requirements better than
the contenders. In this report, various marketing tools are used by the organization for enhancing
the sales revenue of the cited organization (Sarea and Hanefah, 2013). Here is the management
process via which goods and services move from concept to the consumer. This can be simply
said that the marketing of any company is totally relied upon the thinking about the business as
per the consumer needs and satisfaction. Marketing can vary from selling as selling concern
itself along with the tricks of getting people to exchange their cash for the product. For
elaborating the importance of marketing, this does not only communicate about the
implementation, function and other benefits of the product but likewise delivers values of
products to the ultimate consumers. This project report likewise elaborates the principles and
tools of marketing and relevance of E-marketing and diverse components of marketing (Polman
and Atwater, 2012).
TASK 1
1.1: What is Marketing and different marketing activities
Production and marketing of goods and services are the crucial thing of economic life in
any of the society. Whole organization perform these main basic functions in order to satisfy
their commitments to their stakeholders- owners, consumers and society at large. They form
advantages in which economists call utility to make, time, place and ownership utility. Regular
exposure to the marketing and personal selling leads so many people to connect marketing and
selling, or to think that marketing activities introduced once goods and services have been
manufactured (Vargas-Hernández, 2012). While on the other hand, marketing most probably
comprises selling and advertisement, it encompasses more. Marketing likewise covers assessing
client needs, protecting information required to design and produce product or services which
match buyer expectations and forming and handling connection along with consumers and
suppliers.
Marketing is the most effective tool for promoting any of the product or services in an
effective manner. However, this can be rightly said that the management of the ABC chocolate
company would make an effective marketing strategy that can be used by the organization for
3

gaining the sustainability in an effective manner. Marketing comprises coordination of four
components which are known as the 4 P’s of marketing:
1. Determining, selection and emergence of product,
2. Identification of its price,
3. Selection of a distribution channel to gain the consumer place, and
4. Emergence and implementation of promotional strategy.
Marketing activities concentrates on the consumer. Henceforth, a market driven firm starts its
entire strategy along with the detailed explanation of its target market: Group of people towards
whom organization instructed to direct all the marketing efforts (Phillips and Graeff, 2014).
After marketers choose target market, they direct their activities towards profitability fulfilling
that target segment. However, they are required to manipulate so many variables in order to
attain this target, marketing related decision form could be segregated into four areas such as:
product, price, place and promotion. These 4Ps blend to fit requirements and preferences of a
particular target market. These are the four variables which the marketer could implement and
control in the diverse combinations for forming value to the consumers.
ABC chocolate company would specially require to have a strong marketing strategic
need for promoting its chocolate products in an effective manner. As the marketing will make the
product exaggerate in an effective manner.
TASK 2
2.1 Market methods, research and analysis:
Research is the tool which is used by the organization for getting the information which could be
used for making the decisions in an effective manner (Hall, 2012). Now, this is simply said that
the management of the cited organization need to opt a strong marketing research tools which
would help out to gain the sustainable development in an effective manner. Here are so many
tools which can be used by the organization for gaining the competitive advantages over the
rivals.
Research procedures comprises determining issues and also outlining them, fixing and
target, making out the research design, incorporating of the research tools, recording and
investigating data in an effective manner.
4

Market Analysis: This simply deals in elaborating diverse kinds of procedures and
norms of the organization, that must be adopted by the organization for getting the best outcomes
from the marketing practices. The evaluation procedure normally adopted elaborating of the
marketing flexibility and quality of certain market that represents specific industry. Marketing
assessment starts with SWOT, Porter’s five forces, PESTLE, GE matrix and so on.
Research method: Marketing research comprises two main tools which are used for
resolving any kind of issues which may arise. Mostly, whole marketing decisions must be totally
relied upon the strict analysis and research. The assessment and research does not require to be
have quantitative, but this must deliberate and must be matched to the magnitude of the decisions
made. Formal analysis is required to be done in an effective manner. By using research method
in the cited organization, company would make an efficient business strategy which is totally
relied upon the business objectives.
Market analysis tools and analysis: here are diverse kinds of marketing tools which
can be used for making the research in an effective manner. Here are few of them are mentioned
as under:
SWOT: This tool is used by the organization for knowing the internal and external points in an
effective manner (Georgiou and Jack, 2011). Now, this can be rightly said that the management
of the cited organization assess internal strength and weaknesses and apart from that external
opportunities. This makes in forming dialogue along with shareholders and other individuals
which are connected to have diverse point of view.
VMOST: This marketing tools stands for vision, mission, objectives, strategy and
tactical. Success of any organization relied upon the top down and bottom up alignment. These
components must be linked to each other for keeping that working. VMOST analysis works on
handling that connection.
PEST: This is the most effective tool which can be used for external analysis of the firm.
This stands for: Political, Environmental, Social and Technological. This simply expose
opportunities and threats of the organization.
SOAR: This is the tool of marketing management which stands for strengths,
opportunities, aspirations and results. This is crucial to the organization in case they have
incorporated strategies and there is a strong requirement on concentrating on the particular
impact zone.
5

TASK 3
4.1 E-Marketing and maintain their image
Methods implemented in E- Marketing: Electronic Marketing is the procedure of
attaining clients of the product via online sites and various social networks. Online marketing
tools are implemented by various firms in order to promote and advertise their goods. Some of
the E-marketing tools are mentioned hereunder.
Search Engine Optimization: Organization must have to appoint a SEO which help out to
attract more traffic over the site. Various organizations use SEO which ultimately helps out to
make the website over the top (Deaconu and Buiga, 2010). Online marketing tools are
implemented in order to promote their websites by attracting more crowd over the site. This
could be said that via research, inbound connections to other sections of internet sites and
hyperlinks from diverse advertisements on websites. SEO will place the company’s websites
over the top simply by googling of the content.
 Content Marketing: This is the key target of the online marketing which is to enhance
the revenues, consumer retention and awareness of the goods. But various people thinks
that content is only written for example blogs or e-books. But, this statement is totally
different that could improve the chance of reach. Here, this can be simply said that the
content could be simply writing on any of the tool. Content not only comprises data
which likewise comprises photos, animations, videography, infographics and audio. Here
are diverse kinds of respondents who simply respond as per the diverse media along with
their taste priorities.
Social Media Marketing: This is the platform where the product can be advertised and get to
published without paying any advertisement related costs. Each organization is trying to seek
attention and also able to attract more and more viewers to subscribe their pages and do like by
many of the individuals in an effective manner (Cohen and Karatzimas, 2013). Consumers
simply states that social media tools play most effective role in the decisions which are
connected to the buying of the product simply by watching advertisements on the social sites.
Social media tools presume to the best tool that can be used by the organization for advertising
product in an effective manner.
6

Maintaining online image of the company: Here are so many techniques which can be used in
maintaining online capture of the company that are mentioned hereunder:
 The business is improved by maximizing websites of the firm’s name.
 Diversify online presence of the firm.
 If the organization need to pick one social networking sites, then linkdine is the best
option to make the company popular within a short time frame.
 Firm is actively maintaining web search results once in each month.
 Particular steps are to be responded to the adverse content and contractor of it.
 Pay attention of it and mainly concentrates on the offline reputation of the firm.
TASK 4
3.1: Applying your learning
Using market analysis tools: In this firm, there is a solid requirement to use SWOT
analysis for determining diverse components that are explained as under:
Strengths: Chocolate organization assessment various information that acquired from
market that can be rightly said that the goods selected by firm which will be beneficial for
the company. As Chocolates are assumed to be the gift in any kind of festivals or
celebrations. That is the reason, it is the strength for the organization.
Weaknesses: Cited organization would face weaknesses that are connected to the more
effective product prices and cost improvement. Organization’s product was earlier rising as
to rising in the government norms for making the environment eco-friendly manufacturing
process. Along with it, the product cost would also increase which may create problems in
the product.
Threats: This comprises outer components that can’t manage by the cited organization. The
main threat of the cited organization is that the generally public is totally aware about the health
that can detrimental to organization sales (Aiken, Lu and Ji, 2013). Secondary threat is that,
nowadays, the people does not actively participate in the celebration which is the key concern
which organization is facing.
Opportunities: The firm is still having their operations in urban areas, and have not yet
covers the rural areas which is the most effective opportunity for the firm.
7

Interpretation of the outcome: Market research of the cited chocolates is evaluated that
could implement data which have acquired from the market. Now, this is simply said that
the chosen product by the firm can be beneficial for it. As this can be rightly said that the
opportunities that are evaluated by using SWOT analysis. While on the other hand, threats
and weaknesses can overcome by implementing an effective strategy.
CONCLUSION
From the above mentioned report, this can be simply said that diverse kinds of
assessment are used in the marketing process. For having diversifiable results in the future that
are crucial requirement of firm in maintaining constant and improving profitability in the market
in the future period of time. As various strategical tools which are used for enhancing the
business objectives in an effective manner. Various marketing tools such as SWOT analysis is
done for knowing the strengths and weaknesses of the cited ABC chocolate company. By
making this report, this is simply said that the marketing enhances the sales revenues in an
effective manner.
8

REFERENCES
Books and Journals:
9