Marketing PRINCIPLES ANDTECHNIQUES TABLE OF CONTENTS INTRODUCTION
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MARKETING PRINCIPLES AND TECHNIQUES TABLE OF CONTENTS INTRODUCTION 1 TASK 11 Marketing1 Market segmentation 2 Marketing mix 2 TASK 24 Aim of research and market analysis 4 Market research methods4 Market analysis tools 5 TASK 37 Methods used to e-market products and services 7 Manage online image of company 8 TASK 49 Target market 9 Interpret findings of market research and analysis 9 Findings 9 CONCLUSION 10 REFERENCES 11 INTRODUCTION Marketing is the process of promoting goods
Marketing PRINCIPLES ANDTECHNIQUES TABLE OF CONTENTS INTRODUCTION
Added on 2021-01-02
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MARKETING PRINCIPLES ANDTECHNIQUES
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Marketing.....................................................................................................................................1Market segmentation....................................................................................................................2Marketing mix..............................................................................................................................2TASK 2............................................................................................................................................4Aim of research and market analysis...........................................................................................4Market research methods.............................................................................................................4Market analysis tools...................................................................................................................5TASK 3............................................................................................................................................7Methods used to e-market products and services........................................................................7Manage online image of company...............................................................................................8TASK 4............................................................................................................................................9Target market...............................................................................................................................9Interpret findings of market research and analysis......................................................................9Findings........................................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONMarketing is the process of promoting goods and services in order to raise profit of entity.Present study is based on Specsaversoptical group Ltd that operates its business in opticalindustry. Report will describe the concept of marketing and various marketing mix elements.Furthermore, it will explain the aim of market research and various analysis tools that can beused by enterprise for targeting consumers. This report covers different aspects of marketingsuch as different types of marketing segmentation, marketing mix, etc. These days, there is useof e- marketing concepts which helps to contact with consumers and provide them informationrelated to latest product and services. TASK 1MarketingMarketing can be defined as a key activity that helps entities in identifying the needs ofconsumers and promoting brand. It is considered as the management process for creating andcommunicating things that have values for consumers. The Specsaversoptical group Ltd is amedium sized family business of UK (Graber and et.al, 2016). Company is operating its businessin retail industry and offers a range of sunglasses and contact lenses to consumers. The mainagenda of this firm is to enhance sales volume and increase market share. It is very important totake support of effective marketing strategies. There are various activities carried out in marketing department of other businesses suchas market research, promotion, communication, etc. Specsaversoptical group Ltd can takesupport of marketing activities in order to search about consumer needs and requirements.Research aids in identifying opportunities and threats for the organization. Marketing assists inidentifying improvement areas so that entity can make changes in its products and can developgoods and services of entity. Other businesses conduct market research in order to addressrequirements of consumers (Lees-Marshment, 2014). Furthermore, marketing department ofcompanies perform function of product placement. Organizations take support of variousdistribution channels so that final goods can reach to the end users. Apart from this, marketingdepartment performs the function of promotion. It aids in promoting products and services ofbusiness across the world. 1
Market segmentationMarket segmentation is considered as process of dividing potential consumers on the basisof their certain characteristics. This classification method assists in targeting right people andconvey message to them. There are different kinds of segmentation methods that can be used bySpecsaversoptical group Ltd in its workplace (Lee, 2017). These are explained as below:Psychographic segmentation: In this segmentation method companies segment theirtarget audience on their bases of lifestyle, interest of people. It considered psychologicalaspects (Merritt and et.al, 2017). There is difference in lifestyle of youngsters and old agepeople, so there is difference in optical requirement of consumers. There is changestaking place in trends regularly so it must be analysed by managers of Specsaversopticalgroup Ltd to increase consumer satisfaction. Demographic segmentation: It is type of method in which marketers divide people onthe bases of their demographic features such as age, income, gender, family size,occupation etc. Most of the companies take assistance of this segmentation methodbecause by this way they can attract more people by offering goods as per their desires.Geographical segmentation: It can be defined as classification of market on the bases ofgeographical areas. To promote products and services in other geographical locationentity will have to implement different strategies. Specsaversoptical group Ltd deals inoptical sector, hence there is no major difference on the basis of geographical region. Incase of special requirement of consumers, then managers must provide it, so satisfactioncan be achieved. Behavioural segmentation: It is another type of sorting method that considersbehaviour, preferences, choice of people (Mayer, Borges and Simske, 2018). For exampleyoung people like to use fashionable optical and contact lenses whereas old people like touse simple glasses. So, Specsaversoptical group Ltd can target both these consumers bytaking support of different marketing strategies.Marketing mixEye care or optical industry is performing well in UK. There are many people those whouse contact lens. This product of entity generates 25-30% profit. Marketing mix is most effectivemarketing strategy that helps businesses in accomplishing their objectives (Kraak and et.al,2017). 2
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