Marketing Principles and Techniques Report

This report examines the principles and techniques of marketing, focusing on the case study of CF. Lake Company, a UK-based electrical appliance company. It analyzes key marketing concepts like STP, the 4Ps of marketing mix, market research methods, and e-marketing strategies. The report also provides insights into market analysis techniques for identifying target markets and managing the company's online image.

Marketing Principles
and Techniques

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
a) Marketing................................................................................................................................1
b) Segmentation Targeting and Positioning (STP.)....................................................................2
c) 4P's of Marketing Mix.............................................................................................................2
TASK 2............................................................................................................................................4
a) Aims of research and market analysis.....................................................................................4
b) Market research methods........................................................................................................1
c). Market analysis tools and techniques.....................................................................................1
TASK 3............................................................................................................................................2
a). The methods used to e-market products and services...........................................................2
b) How CF. Lake company manage their online image..............................................................2
TASK 4............................................................................................................................................3
a). Use various market analysis techniques to research the target market for the products and
services of the CF. Lake company..............................................................................................3
b).Interpreting the findings of above market research and market analysis for CF. Lake
company......................................................................................................................................3
CONCLUSION ...............................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Marketing is the heart and blood of the business. Marketing is the management and study
of exchange relationship. It is used to create and keep the customers satisfy. Marketing is the
action of boosting and promoting goods and services which majorly includes advertising and
market research. Principles and techniques of marketing is used for conducting effective strategy
of marketing (Lilien, Rangaswamy and De Bruyn, 2017). These principles and techniques are
very essential for the development and growth of business. In this present context, CF. Lake
company dealing in electrical appliance of UK is being chosen in this report. This is small scale
company in UK. This report will include the concept and importance of marketing. In order to
identify the customers of company, STP model will be used by the marketing manager.
Furthermore, marketing mix, market analysis, marketing research will also study in this
assessment.
TASK 1
a) Marketing.
Marketing is the essence of all the companies. It is the process of moving goods from the
stage of production to the reach of customers. Marketing is a tool that attracts many people
towards the product of company. CF. Lake company is trying to boost and promote its goods
and always try to grab the largest market share. Communication, promoting, advertising,
delivering processes are included in marketing. By doing marketing activity, product come
closer to the customers as this is never-ending procedure. It starts before launching of good and
ends after measuring and analysing the level of satisfaction of customers. In old days, company
used to promote there goods by using 4P's of marketing and but now company is using 7P's of
marketing mix theory which is broad concept of marketing. CF. Lake company is going to
introduce new electrical product in the market by using different marketing techniques and
strategies.
Role of Marketing Department- In each and every company there is marketing
department which conduct activities of marketing for there products of company. Different roles
of marketing department are-
It tracks trends and monitor competition- Marketing department of company used to
track trends and monitor competition which is prevailing in the market. The marketing
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department of CF. Lake company is facing competition in the market so it is very essential for
company to gauge and analysis the strength and weaknesses of competitors (Lee, 2017).
Increase sales and profit- Marketing department has focus on enhancing the sales of
company by advertising and promoting product more among customers. Profit of company is
also increase with the efforts made by the department of marketing of company (León-Flández,
and et.al, 2018).
Build effective Relationship with consumers- Marketing department of company helps
in making and building effective relationship with there customers as well as other people.
Marketing department also create awareness of the product among the public.
b) Segmentation Targeting and Positioning (STP.)
STP is the best instrument which is used to develop strategies of marketing. In marketing
STP is popular approach. There are three dimensions in STP. With this model company can
easily target its customer and make effective marketing plans for business.
(Source: STP Model, 2017)
Segmentation- It involves analysing different types of consumers with different needs.
Geographic segmentation, psycho-graphic segmentation, behavioural segmentation and
demographic segmentation are the different sections of marketing.
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Illustration 1: STP Model

Targeting- It means breaking of market into segments afterwards concentrating on
marketing efforts on some core segments. With effective targeting of customers, company can
win over there challengers prevailing in market.
Positioning- This is the most essential place which company want to reach that
occupying a position in the market and in the mind of customer. This is the last stage of this
model. Once company select there segmentation and then targets to the customers then surely
company occupy a position in the market.
c) 4P's of Marketing Mix.
This is the modern concept of marketing. It includes 4 formulas which evaluate and
measure the activities of business. It is tool which is used by the marketing manager of CF. Lake
to make there product known and acquire place in the market (Gordon and Oades, 2017).
Following are the 4P's of marketing-
Product- It means that product of the company should fit wants and expectations of
customers. CF. Lake company is introducing its new product in the market, so manager should
ensure that it satisfy the needs and wants of customers.
Place- This is also the most important element in marketing mix as product of company
should able to reach to maximum customers. It should be easily to shop. CF. Lake company
should sale its products online so that company grow and develop in the market.
Price- This is the most important element in 7P's of marketing as customers are more
price sensitive. The manger should measure the value of product before deciding price. In order
to enter in new market, manager should evaluate there price of the product in much effective
manner.
Promotion- Promotion means boosting of product in the market. Advertisements, Sales
promotion, Personal selling, online selling are all the examples of promotion. This is too which
makes effective relationship with public.
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Illustration 2: 4 P's of marketing
(Source: 4 P's of marketing, 2017 )
TASK 2
a) Aims of research and market analysis
Point of Market Research and Market Analysis
The primary aim and point of statistical surveying is to gather every single significant
datum on purchasers and potential purchasers (Garrido-Morgado and et.al., 2017). Statistical
surveying is a key component in overseeing and keeping up rivalry in the market. The gathered
information's are utilized for settling on choice of business. Statistical surveying additionally
diminishes the danger of settling on choices of business.
There are a few destinations of Market Research which are as per the following-
 To render reason for orderly arranging Research of promoting helps in making deliberate
arranging of items. The administrator of Rebellion Development is doing deals estimate
which is the most ideal approach to make viable arrangements of promoting.
 To lessen cost of promoting Marketing research outfit different modes and approaches to
decreased or control the cost of showcasing, for example, marketing, publicizing and
dispersion.
The primary aim and point of market investigation is a quantitative and subjective
investigation of market. Chief of Rebellion Development Company is doing market examination
to investigate the extent of market as for volume and esteem, rivalry, diverse fragments,
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purchasing behaviour and monetary condition in regard to obstructions to passage and direction.
There are a few goals of Market Analysis-
 Know and comprehend the market-The chief before propelling items, it is the main
obligation of him to comprehend the whole market (Appah and George, 2017).
b) Market research methods
The market research is the term refers to a special process of collecting and gathering all
contents related to the organisation's customers and competitors (Graber and et.al., 2016). There
are two major methods for the market research and these are as follows :
 Primary research – It is a special technique which use in any business management
team for analysing the various informations. In this method, the information is collects
from some primary resources that are interviews, focused groups, direct observations,
different type of surveys. So for this reason it is also known as field research and it done
from scratch the primary resources. In this method, there is no use of available resources.
It is always focussed on new resources.
 Secondary research – It is associated with the primary research, it means it uses
available resources (Lees-Marshment, 2014). In its aim, there is no use of scratch any
new resource and it is collected by the newspapers, government data, office data,
magazines and the internet, etc. Its major benefit that is it collects free of cost and not
takes lot of time. For the CF. Lake company, it is beneficial in their expansion.
c). Market analysis tools and techniques.
The market analysis techniques and tools applies as to strategical analysis in the business.
In the tools of market analysis, the best marketers are focused, creative, adaptable and driven in
every situation. In this context, there are some market analytical tools that are describes as
under :
 Hoot suite – It is refers as the social media management tools that contains whole host of
different features. In its importance that it allows business to get a plus point for
conversation both around the company and its products (Mayer, Borges and Simske,
2018). It also provides the gaining in the different marketing segment and also useful in
achieve the desired goals of CF. Lake group.
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 Google analytical – It is one of the best market analytical tool that helps any business to
grow a detail understanding of its web traffic. It offers to the users the capability to look
various user maps of the site.
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TASK 3
a). The methods used to e-market products and services.
E – marketing or internet marketing is a special type of marketing that is completed
through ultramodern technology which are use by the internet. It is the best way for expansion of
the company and there are some methods for the company (McClements, 2015). The
management of this organization can use any of these methods and increase its business. These
are as follows :
 Social media market – In this method, marketing use various social networking methods
such as twitter, google plus, Instagram, Facebook and many more. Its major advantages
are increased reputation and knowledge of brand name.
 Blogging – It comes up with the massive wave of publishers that are being able to get
their desired content from online platforms (Nowak and et.al., 2015). It gives to the
customers the ability to have their content which is published online easily and quickly
and by using this the CF. Lake company create a mass customer for their products.
 Content marketing – This is an essential way of e-marketing having verity of forms and
it depends on the strategies. It may accomplish many goals which are business oriented. It
is useful and increasingly versatile thing.
b) How CF. Lake company manage their online image.
In the present world, there are allowed to use of internet and online world that viral
various news and social media. For this reason it is necessary for every company that it should
manage its image at the online platforms (Serrat, 2017). In this context, there are vast use of
technology advancement and it enabled new methods and ways to make the best brand image for
its growth. In this aspect, there are some ways to manage its online image :
 Monitor the feed backs – In online marketing, it is an essential element that carefully
monitor all feed backs because it can raise the customer attraction. It is the best way to
maintain and manage the online reputation.
 Review guide – For a big company, there are probably too much post reviews and the
CF. Lake group should recognize it for its business expansion. Reviewing involves
different aspects which assist in making changes according to demand of consumers. This
is significant for attaining good amounts of profits.
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 Make the partner – the company can be grown up by making online partner because it
may facilitate to promote its business at the online platforms. There is requirement of
different resources which are relevant to make proper availability of resources. With the
help of partnership, it is easy to improve quality of product and services.
TASK 4
a). Use various market analysis techniques to research the target market for the products and
services of the CF. Lake company.
The market research analysis techniques provides various information about the
customers, market and competitors. In this company's products, it includes electrical appliances
and much other equipment (Shaw, 2016). In these techniques, there are primary, secondary,
qualitative and quantitative methods that useful in the achievement of the business expansion. In
the qualitative research, it takes the feelings and opinion of various customers. It helps in getting
the more information about the customers. The quantitative research method, it works on hard
facts and statistical data rather than the opinions and feelings.
b).Interpreting the findings of above market research and market analysis for CF. Lake company.
In this context, analysing various qualitative and quantitative data by the company, it is
always profitable for achieving desired objectives and goals in the target market. The main
objective of interpreting data always extremely consuming and it complicated to do correction in
it. In addition to this, I suggest the company to follow the best strategy for its market strategy in
order to analysis the perfect market for the organisational products. It is a fact that once the
survey is complete, it can interpret the data and various things (Shaw, 2016). The company can
use the research findings have some special impacts that are informed and adapt the sales
approach, to find new marketing strategy, new product developments. It makes more awareness
about its services and products as well as increase its brand image. It has a dramatic impact on
the direction of the business strategy and there are also more different methods to findings the
market research.
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CONCLUSION
The above report summarize that marketing is very important part of the company.
Marketing principles and techniques also plays efficient role in the development and growth of
company. Beside this, this assessment will also make understood market analysis and market
research. There are different methods to collect information from makrkrt and then implement
changes to business organisation. To make online image in market, regular work must be done
on feedbacks. This helps to improve brand image and customer satisfaction. Social media
market, Blogging, Content marketing are the best way of marketing product and services at
online level. To research in market, primary research is best because this provides exact and
appropriate information.
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REFERENCES
Books and Journals
Appah, G.O. and George, B.P., 2017. Understanding Church Growth through Church
Marketing: An Analysis on the Roman Catholic Church’s Marketing Efforts in
Ghana. Journal of Economics & Business Research, 23(1).
Garrido-Morgado, Á and et.al., 2017, June. Are Different Merchandising Techniques and
Promotions Equally Effective to Improve the Sales of Utilitarian and Hedonic Products?
An Abstract. In Academy of Marketing Science World Marketing Congress (pp. 97-98).
Springer, Cham.
Gordon, O. and Oades, L., 2017. Social marketing of wellbeing. Wellbeing, recovery and mental
health, pp.311-323.
Graber and et. al., 2016. Orthodontics-e-book: current principles and techniques. Elsevier
Health Sciences.
Lee, N.R., 2017. Policymaking for Citizen Behavior Change: A Social Marketing Approach.
Routledge.
Lees-Marshment, J., 2014. Political marketing: Principles and applications. Routledge.
León-Flández, K and et.al, 2018. Marketing techniques in television advertisements of food and
drinks directed at children in Spain, 2012. International journal of public health, pp.1-10.
Lilien, G.L., Rangaswamy, A. and De Bruyn, A., 2017. Principles of Marketing Engineering
and Analytics. DecisionPro.
Mayer, J., Borges, P.V. and Simske, S.J., 2018. Introduction. In Fundamentals and Applications
of Hardcopy Communication (pp. 1-5). Springer, Cham.
McClements, D.J., 2015. Food emulsions: principles, practices, and techniques. CRC press.
Nowak and et.al., 2015. Addressing vaccine hesitancy: the potential value of commercial and
social marketing principles and practices. Vaccine, 33(34), pp.4204-4211.
Serrat, O., 2017. The future of social marketing. In Knowledge solutions (pp. 119-128).
Springer, Singapore.
Shaw, S., 2016. Airline marketing and management. Routledge.
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Online
4 P's of marketing, 2017. [Online]. Acessed through;
<https://www.cleverism.com/understanding-marketing-mix-concept-4ps/>.
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