Marketing Principles and Techniques Assignment - Marks&Spencer

Added on - 22 Nov 2020

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MARKETING PRINCIPLESAND TECHNIQUES
Table of Contents1INTRODUCTION..............................................................................................................................................................31TASK 1.........................................................................................................................................................................32Marketing and its diverse activities carried out in marketing department....................................................................33Market segmentation and different market segments...................................................................................................44Marketing mix apply on the product.............................................................................................................................42TASK 2...............................................................................................................................................................................51Aims of market research and market analysis.............................................................................................................52Types of market research..............................................................................................................................................63Market analysis tools and techniques............................................................................................................................73TASK 3...............................................................................................................................................................................81The methods used to e-market products and services...................................................................................................82Explain how companies manage their online image.....................................................................................................84TASK 4...............................................................................................................................................................................91market analysis techniques to research the target market for your own product or service........................................92interpret the findings of your market research and market analysis...........................................................................105CONCLUSION................................................................................................................................................................116REFERENCES.................................................................................................................................................................12
INTRODUCTIONMarketing is the process of promote the product which include the activity of buying andselling. It also includes advertising and delivering of the product. It is the process which from acustomer aware about the product. Marks&Spencer is the well known brand of the UK. It is thepublic limited company with retail sector. It is the big brand which sell the things likes clothing,home products, food products etc. Its headquarter is situated in London, UK. This file will includemarketing and its diverse activities, marketing mix and market research, aims and methods ofmarket-research, methods which used for product marketing and many more things.TASK 1Marketing and its diverse activities carried out in marketing departmentMarketing-Itis the process of understand the needs and wants of the customer and search thetechniques which through a customer will be satisfied. Marketing is the process of doing things onthe bases of customer perceptions. It includes advertisement of the product in the market, researchabout the customer needs. Process of communicating and delivering the product(French andBennett,2015).Diverse activities carried out in marketing departmentsIn the marketing department many activities run and they are following-Market research-It is the responsibility of the marketing department to do research about theproduct which sell by them in the market. Marketing research is all about to understand the needs ofthe customer, what they want from the company and what are the desires of them. Market researchalso help to know about the strength and weakness of the business and opportunities which exist inthe business environment.Product development-It is the responsibility of the marketing department to develop the product.The product which already exist in the market, develop that with the new ideas and innovation.Innovation makes the product good. Develop the product according to need of the consumers and itcan about packaging and labelling, price, quality etc.Advertising and promotion-It is the major role of the marketing department. They work forpromote the product in the market which through the consumers aware about the particular product.Advertising through video campaign, email, social media etc.Business development- To develop the business marketing and sales department works with eachother. Marketing department works for advertisement and sales department target the market toconvene the customer for purchase the product. It is the activity which done by both of them to
develop the business.For example, Through all of these activities a business can develop itself. Marketing plays majorrole in the organisation and all the above work done by them in the organisation so if a businesswant to develop itself then it can use this(Acharya,2018).Market segmentation and different market segmentsMarket segmentation refers to breaking the market into different areas on the different bases.Dividing the entire market into groups. Dividing the market into different segments which matchwith the marketing strategies. Market with similar interest, needs or location. In each segment thecustomers have same characteristics regarding the product. The different market segments arefollowing-Geographical-In this segmentation the entire market divide on the basis of geography.Geographical segmentation include segment on the basis of cities, countries, regions and counties. Itcan be also divide through area like urban and rural area. The whole market can be divided or subdivide.Demographic segmentation- Demographic segmentation includes age, gender, size, family,marital status, education etc. These are the variables which used to divide the entire market. Groupof different customer helps the organisation to manage the production through their needs andwants. It is easy to measure these all points because the data of the people easily available.Behavioural segmentation- It includes the behaviours of the consumer regarding the product. Inthis segmentation the groups are divided on the basis of their response toward the product, uses rateand loyalty status. Through many of the marketers this is the best segmentation to know about theproduct reputation.Benefit segmentation-Here the marketer divide the market into different segmentations on thebasis of quality, customer service, performance and other special features and benefits.Marketing mix apply on the productMarketing mix is the process which include main elements of the marketing. It has to think thatwhich segment will apply to the target market. Main elements of marketing mix called 4 p's ofmarketing and they are following-Product-Every business have the product which purchase by the consumers and it is the thing fromwhich the organisation runs. It is the responsibility of the marketer to know about the satisfaction ofcustomer and their products meets with the need of consumer or not. Understand about the
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