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Marketing Principles and Techniques Assignment Sample

   

Added on  2021-01-01

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Marketing
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Marketing Principles andTechniques
Marketing Principles and Techniques Assignment Sample_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Marketing...............................................................................................................................11.2 Market segmentation as a tool to identify customers............................................................21.3 Marketing mix.......................................................................................................................3TASK 2............................................................................................................................................42.1 Aims of market research analysis..........................................................................................42.2 Market research methods.......................................................................................................42.3 Market analysis tools and techniques ...................................................................................5TASK 3............................................................................................................................................54.1 Methods used to e-market products and services..................................................................54.2 activities used by companies to manage their online image..................................................6TASK 4............................................................................................................................................73.1 Market analysis techniques to research the target market....................................................73.2 Interpretation and findings of market research and analysis.................................................73.3 present your findings to the marketing team..........................................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
Marketing Principles and Techniques Assignment Sample_2

INTRODUCTIONSince I have completed my course, I have been working in my family business for 6months. And I have notice that the members of staff are not aware about the latest marketingconcepts, marketing activities, its segmentation tools etc. (Wilson, 2001).. Therefore, further inthis project I am going to collect information as formal report and explain about marketing, itsconcept, segmentation tools, marketing mix and will prepare a detailed report about it and give itto the staff members for future impact on the company and to have permanent job in thiscompany. This report is based on Amara which is an online retailer of luxury gifts, designerhome ware, lighting and furniture designing association. TASK 11.1 MarketingMarketing is the activity of selling the product by deciding its packaging, price, place andpromotion. It involves the activity of moving of goods from producer to customers. Some of itsactivities are:Analyse of target market- Analysis of target market is one of the important and crucialactivity or performing activities of Amara. This helps to know what has to be produced tosatisfy consumer needs. Promotional activities- There is competition in industry, so with the help of promotionaland marketing activities, it is easy to create awareness and increase consumer base.Promotion of product at Amara can be done with hoarding, newspaper advertisement,radio, etc. Value addition to the product- These days, consumers are more choosy and want ti availlatest trends. Hence there is requirement of alterations and new changes in products andservices. This helps to increase consumer base of Amara and makes long term relationswith consumers. Amara, an online retailer of luxury gifts, designer home ware, lighting and furniture designingcompany of UK, my first step will be to set a target market for my products. Our second step willbe increasing the customers for my product by examine their needs and demand and providingcustomer satisfaction. Our final step will be adding a special value to my product so that it mayattract customers to buy them (Aaker,2011). By offering promotional schemes, offers, gift cards,etc. can add value to our product.1
Marketing Principles and Techniques Assignment Sample_3

1.2 Market segmentation as a tool to identify customersIt is a process of dividing market customers into different segments or groups on the basisof some characteristics. Different types of market segmentation are:(Source: Different types of market segmentation, 2017)Demographic segmentation:- Variables like age, gender, marital status, income, religion,occupation, status, etc. divides the customers in the market. On this basis of segmentationvariables, managers at Amara will divide potential customers and will influence theirbuying decision (Fischinger, Seiler and Seiler, 2015).Geographic segmentation:- This segmentation is on the basis of geography. Peopleliving in different regions may have different requirement according to their needs.Geographic segmentation will help us to draft individualized marketing campaigns foreveryone.Psycho graphic segmentation:- Under this process customers of Amara are divided onthe basis of their lifestyle, personality and attitude. In this, we can influence the decisionof the customer to buy the product according to their personality and lifestyle (MarketAnalysis Tools and Techniques Every Marketer Should Know. 2018).Behavioural segmentation:- In this process of segmentation customers can besegmented on the basis of their behaviour. Product knowledge of the product and its use2Illustration 1: Different types of market segmentation
Marketing Principles and Techniques Assignment Sample_4

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