Marketing Principles and Techniques Assignment - Button Queen

Marketing Principles and
Techniques

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Marketing and activities conducted by organisation.............................................................3
1.2 Market segmentation.............................................................................................................3
1.3 Marketing mix.......................................................................................................................4
TASK 2............................................................................................................................................5
2.1 Aims of research and market analysis...................................................................................5
2.2 Market research methods......................................................................................................5
2.3 Market analysis tools and techniques....................................................................................5
• Forecasting: This instrument characterizes that statistical surveying is executed by
administration to distinguish needs and needs of individuals. Button Queen give stylish garments
and items to draw in clients and influence them to buy satisfactory things....................................6
TASK 3............................................................................................................................................6
3.1 Methods used to e-market products and services..................................................................6
3.2 Manage online image of organisation...................................................................................7
TASK 4............................................................................................................................................8
4.1Market analysis techniques to research target market............................................................8
4.2 Findings of market research and analysis.............................................................................8
CONCLUSION................................................................................................................................9

INTRODUCTION
Marketing principles and techniques are appropriate tactic which help small firms to
utilise funds and construct adequate image in market. It is necessary that family businesses
which are started by entrepreneur to generate appropriate revenue from business by investing
money and using it to arrange resources for company. Present report is based on The Button
Queen which is small family business established in London. Different buttons which includes
silver, jet, plastic and glass to give people chance to match fabric colour with them. This report
specifies information about marketing concept and various activities that are executed by
marketing department to promote firm and attract customers. With help market segmentation and
marketing mix is designed by management to identify customers and attract them to purchase
things to fulfil their needs and wants. Market research aims, methods, tools and techniques are
used to collect appropriate information about market situations. This defines that e-marketing is
tactic used by company to manage their online image. Thus, entrepreneur is able to apply
learning and have appropriate findings which are interpreted by marketing team to design system
and establish strong image and reputation in market.
TASK 1
1.1 Marketing and activities conducted by organisation
Marketing is concept which comprises information about activities executed by
organisation to inform people about items and services; thereby influence them to purchase
things in according to their needs and wants. It is essential that appropriate promotional and
pricing strategies are used by The Button Queen to attract customers by informing them about
variety of products and packages. Every industry have number of companies that require to
function in according to position firm higher than competitors. This specifies that management
need to use promotional techniques that is e-marketing to attract people from other countries
without setting outlet in various nations.
1.2 Market segmentation
STP tactic defines that organisation require to have accurate and complete information
about needs and wants of people. It is essential that products and services are provided in
according to market conditions. The Button Queen is company which provide different variety of
buttons in respect to customers demands. This technique is defined below:
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Segmentation: This is first step which defines that people are grouped in according to ascertain
information about their similarities which help in designing things in respect to customers. Psych
graphic, behavioural, demographic and geographic are various segmentation tactics that are used
by firms to provide products according to segments. The Button Queen is small firm which has
outlet in single nation which impacts on sales and profitability.
Targeting: After segmentation, next process executed by management is to select appropriate
segment which has good market size, number of customers. The Button Queen has outlet in
London and as it is traditional business which has limited people base.
Positioning: This component specifies that organisation require to attract people by informing
them about products and services. Promotional techniques such as advertising, sales promotion,
personal selling, online marketing are used by The Button Queen to transform traditional
business to modern by expanding and acknowledging people about items.
1.3 Marketing mix
Product, price, place, promotion, people, process and physical evidence are 7P's which
are defined by management to design components in according to needs and wants of people.
Along this, marketing team even need to frame marketing mix in respect to competitors. This is
description of The Button Queen marketing mix which is as follows:
Product: The Button Queen provides different forms of buttons to have adequate customer base
which help businessperson to attract people and make them purchase things in according to their
fabric colour.
Price: The Button Queen has different ranges buttons which are provided by company to grab
attention of people by giving them things in according to their income level and requirements.
Place: The Button Queen is small family business which has single outlet established in London
which defines that company has less market share. Entrepreneur has limited market reach and
customer base. For this, e-marketing is best technique which helps company to give online
facility to people and to have global reach.
Promotion: Online marketing is appropriate tactic for The Button Queen, as it is small family
firm which has limited market reach and customer base. Sales promotion, personal selling,
publicity and social media are various other promotional techniques used by firms to attract
people and make them purchase things in according to their needs and wants.
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