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Marketing Principles and Techniques: A Comprehensive Guide

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Added on 2024/07/12

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This comprehensive guide explores the fundamental principles and techniques of marketing, covering key concepts such as market segmentation, marketing mix, marketing research, and e-marketing. It provides a detailed analysis of various marketing tools and methods, including SWOT analysis, PEST analysis, and digital marketing strategies. The guide emphasizes the importance of understanding customer needs, conducting thorough market research, and developing effective marketing strategies to achieve business success.

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Marketing Principles
and
Techniques

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Marketing
According to Kotler, marketing is defined as the
fulfilling of the needs and desires of the customers
by exploring the needs and delivering the value to
them in order to satisfy them and cater to the
targeted market .
The marketing aims to identify the target market
and to fulfil the profit potential by delivering the
value to the customers.

Market segmentation
Market segmentation is a process that undertakes
division of the potential customers into small
segments or groups on the basis so of the different
characteristics. The market segmentation is generally
based on the common forms such as behavioral,
demographic, geographic and psychographic .

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Marketing Mix
The restaurant business has a range of the
products which includes the food and beverages
items that will be offered by it to its customers in
unique and differentiated form.
Through the psychological pricing strategy, this
restaurant can gain maximum customers and
attract them, with the minimum prices by offering
the best services.

Through the home delivery and online ordering the
restaurant can establish its place in a market .
Under this a restaurant business can undertake the e-
marketing, advertising, sales promotions, public
relations and the direct selling as the techniques to
promotion.

Marketing research
Marketing research helps in analysing the problem
prevailing in the business and to derive a solution to
it by exploring the external opportunities and threats
present in the business environment, this research
will be conducted in context to the consumers,
customers, producer and other stakeholders.

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Market research
methods
Four methods of market research:
• Primary Method
• Secondary Method
• Qualitative Method
• Quantitative Method

Market analysis
Marketing analysis tools
and techniques includes:
• PEST analysis
• SWOT analysis
• Environmental
analysis
• Situational analysis
• Competitor’s analysis
• Portfolio analysis

E- marketing
The e-marketing tools and methods to market the products
and services electronically include the direct emails, blogs,
and other paid advertising methods. A restaurant business
can better utilise the WordPress, Pay per Click advertising,
and use of social media platforms, SMS marketing, mobile
marketing and newsletters. This will help to effectively
market the products and services electronically and boost
the online image as well .

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Conclusion
From the analysis above the marketing team of the restaurant is
recommended to conduct market analysis and research on a
regular basis so as to gain competitive advantage and thrives the
market. From the analysis and the marketing tools, the
customers can be enhanced and their needs and demands that
keep in changing can be met effectively. It is advised for
restaurants to adopt an effective marketing mix and the
channels of distribution so that the customers can be easily
reached. It is also recommended for a restaurant to follow the e-
marketing strategy that will boost its online presence n the

References
• Borden, N.H., 2015. The concept of the marketing mix. Harvard
Business school.
• Hair Jr, J.F. and Lukas, B., 2014. Marketing research (Vol. 2). McGraw-
Hill Education Australia.
• Malhotra, N.K. and Peterson, M., 2014. Basic marketing research.
Pearson.
• Marshall, G., 2014. Marketing management. McGraw-Hill Higher
Education.
• Schlegelmilch, B.B., 2016. Segmenting Targeting and Positioning in
Global Markets. In Global Marketing Strategy (pp. 63-82). Springer,
Cham.
• Sekaran, U. and Bougie, R., 2016. Research methods for business: A
skill building approach. John Wiley & Sons.

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Marketing Principles and Techniques: A Comprehensive Guide

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