(PDF) Principles and Techniques of Marketing
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Added on 2020-12-09
(PDF) Principles and Techniques of Marketing
Added on 2020-12-09
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MARKETING PRINCIPLESAND TECHNIQUES
Table of ContentsINTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................31.1 Diverse activities carried out in marketing departments in other businesses .......................31.2 Market segmentation as a tool to identify customers and market segmentation methods ...41.3 Marketing mix ......................................................................................................................5TASK 2.................................................................................................................................................62.1 Aims of research and market analysis...................................................................................62.2 Market research methods .....................................................................................................62.3 Market analysis tools and techniques....................................................................................7TASK 3.................................................................................................................................................83.1 Methods used to e-market products and services..................................................................83.2 Companies managing their online image with examples to identify the impact it can have on an organisation if managed poorly or well ................................................................................8Organisation can manage the online image through-..................................................................8TASK 4.................................................................................................................................................94.1 Market analysis techniques...................................................................................................94.2 Target market of research....................................................................................................124.3 Presentation using charts & graphs.....................................................................................15REFERENCES...................................................................................................................................20
INTRODUCTIONMarketing is the process of transforming information between organisation and customers.Marketing plays main role in any organisation. Through marketing the organisation can understandtaste and preferences of customers and this thing help the organisation to stay in the competitiveenvironment. In the dynamic era everything is based upon customer satisfaction, if the organisationfocuses to satisfy the customers then it will create competitive advantage. Marks&Spencer is publiclimited organisation and it is one of the largest retail industry in UK. Its long term goal is to cutdown the prices and increasing the staff level, and it will impact on profitability of business. It sellsmany of things like food, arrivals, electrical equipment, home products and many other products.This file considers Flavoured cookies in food products which sells by them in all over the countryand outside the country. This file will consider major points such as diverse activities carried out inmarketing departments, segmentation as a tool to identify customer marketing mix, aims of researchand market analysis market research methods used to e-market products and services marketanalysis techniques to research the target market.TASK 11.1 Diverse activities carried out in marketing departments in other businesses Marketing is the systematic approach to meet with the demand of customers. Marketing considersall the activities related to the product such as in production, sales, advertisement etc. Throughmarketing customers get aware about the existence of product and the brand. There are diverseactivities which do by the marketing department-Market research- Market research is the main part of any organisation. It can help the organisationto understand the target market and preferences of customer. In the competition market, it is animportant tool to catch the market opportunities. Through market research an organisation canidentifies the situation of their product in the market in compare to other brands. Market researchprovides information to the organisation about the whole market. Business development- Marketing department closely works with sales department and they bothtogether develops the business. Through marketing the marketer of organisation put all their effortsto promote the specific product or brand and it will help the sales team to sells in the target market.Activities of sales and market team are to convince the customer about the product and sell theproduct. The marketing department works for business development. Connecting customers to product- Marketing department is the intermediator between
organisation and customers so the marketing team works for making relationship. They go to thecustomers and take feedback from the customers regarding the product. There is two type ofcustomer, one who use the product and one who is not using the product. The marketing team meetswith both the customers and try to satisfy them according to their needs and wants.Example- Tesco uses primary research for understand the market so it finds the new information inefficient way. Other side Sainsbury's organisation uses the market research technique such asqualitative and quantitative research the bases of customer satisfaction. They both connecting withthe customers through marketing department and this helps in develop their business. 1.2 Market segmentation as a tool to identify customers and market segmentation methods Market segmentation is the process of dividing entire market into different segments. Dividing themarket on the bases of similar characteristics of customers. A marketer can divide the whole marketon different bases such as gender, age group, income, place, occupation, usage of product, lifestyleof customers etc. It is an important tool of marketing which applied by every organisation whowants to develop the market with its product. It is a tool to identify customers. Through marketsegmentation an organisation can know about the different types of customer and value of brand. Itis the tool to identify use of product by customers. It helps to identify the market that how manypeople likes the product and which age group of people interested to purchase the product. These allthing help the organisation in production of the product so the wastes can be decreased.Methods of market segmentationGeographical segmentation- In it the market is divided on the bases of geography. It is importantfor marketer because people from different region have different demand and needs.Marks&Spencer use geographical segmentation method because the demand of food is different inevery region. So divide the market on the bases of geographical location is important to understandthe demands of customers.Demographic segmentation- In demographic segmentation the market is divided on the basis ofgender, family size, marital status, age, occupation, nationality etc. It is the most commonsegmentation for marketers. In each and every organisation this method of segmentation is applied.For example Marks&Spencer use this method to identify the customers who use their product. Toidentify that what type of customers are existed in the market and their different needs and wants. Itis common thing that having low income people can not buy costly things so the organisationconsider this point while decide the price of product. Behavioural segmentation- The market is also segmented on the bases of behaviour of customers.
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