Marketing Principles and Techniques (pdf)
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Added on 2021-01-01
Marketing Principles and Techniques (pdf)
Added on 2021-01-01
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MARKETINGPRINCIPLES ANDTECHNIQUES
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Description on marketing and describe diverse activities carried out in marketing departmentof other business. ...................................................................................................................1Define market segmentation as tool to identify customers. Give example of differed marketsegments as business attracts..................................................................................................2Define marketing mix and apply to products. .......................................................................3TASK 2............................................................................................................................................4Aim of research and market analysis. ....................................................................................4Description on research methods. Give examples of method which is suitable for organization.................................................................................................................................................4Outline marketing analysis tool and techniques. ...................................................................4TASK 3............................................................................................................................................5Define the method of E-MARKET. ......................................................................................53.2 Explain how companies manage their online image........................................................5TASK 4............................................................................................................................................64.1 Use market analysis techniques to research the target market for Anti-aging mask........64.2 Interpret the findings of market research and market analysis.........................................64.3 Present the findings. ........................................................................................................8Interpretation....................................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONMarketing is the activities which study the management of exchange relationship.It is used to creating, keeping and satisfying the customers. Thus, in this it can be saidthat marketing is one of the premier components of business management activities.Moreover, it can be called as the systematic process which work as to getting productand service to its end customers (Aaker,2011). Thus, determination of price, section ofdistribution channels and take various initiatives in terms to implementation of variouspromotional strategies. The present report will put its major emphasises over businessactivities of Harrco, it is running its business on small level. This firm is takinginitiatives in terms to launch its new and unique product in market as Harrco, anti-ageingmask. The main reason behind conducting this report is to make aware customer aboutlaunching of new product. It is effective approach in order to generate long termprofitability and productivity. TASK 1Description on marketing and describe diverse activities carried out in marketingdepartment of other business. Marketing entails process as products development, market research, productdistribution and strategies of sales etc. There is need to take the initiative in terms to havedevelopment in products through final sell and purchase. Thus, it can be said thatmarketing is significant process with help of which organisation can promote andadvertise its product and services in market. Diverse activities carried out in marketing department as are- Marketing department is the only one who brings income to the company asfrom starting of product research and when customer is getting the product, all the workis done by the marketing team. (Wilson, 2001). In addition to this, it can be said thatmarketing executive will be responsible for performing the functions as are advertising,publications and events. There are various things as are- Product development- In this, it can be said that marketing department need tocarry the internal and external process in order to bring development in products. In orderto make this whole process effective it is essential to have identification of gaps in the1
ranges of products. The Harrco will be carried out in terms to identify the features andbring improvement in the design of products. Strategy- It is need to be decided in order to carry out successful plan and action.It is helpful in term to have increment in market share so that entity can derive itsfunction systematically. Proper strategy should be made by company in consideration ofproduct and company resources and timely implemented so to get the maximum benefitout of it. Connecting customer to products- In this, it can be said that effectivecommunication will be helpful to promote the products and services to customers. Thereare various ways which is need to be taken and in this there is need to take the initiativein order to plan advertising campaigns, E-mail marketing program, company brochuresand customers newsletters. Thus, communication plays the greater role in term to makeoperations effective (Barrett and Weinstein, 2015). The one of the importantmanagement function is to track and predict the need of customers. Research-It can be said that market research plays an essential role inidentification of market opportunities and gain better understanding of customer needsand modify their product accordingly. It is also helpful in terms to understand thestrength and weakness so it will be helpful in order to gaining the better understanding ofcustomer needs. In order to aware customer about beauty products they need to undergowith requirement of customers (Bahadir, Bharadwaj and Srivastava, 2015). Business development- Marketing is activities which promotes sales in terms togenerating new business. In addition to this, its works as to identification of new marketsfor existing new products and current customer have modified the version of existingproducts. Define market segmentation as tool to identify customers. Give example of differedmarket segments as business attracts.Market segmentation is an attractive process which works as to dividing marketinto potentials customers as groups, segments and this are based on differedcharacteristics. Under this, it is essential to target the potential customers. It is tool whichhelps to targetting the customer in market. There are some market segmentation tools asare- 2
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