logo

Marketing principles and techniques : (Assignment)

   

Added on  2020-12-18

27 Pages4562 Words281 Views
MARKETING PRINCIPLESAND TECHNIQUES

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Concept of Marketing and its activities................................................................................11.2 Marketing Segmentation and its different types...................................................................21.3 Marketing Mix......................................................................................................................2TASK 2............................................................................................................................................32.1 Aims of research and market analysis...................................................................................32.2 Market study method.............................................................................................................3TASK 3............................................................................................................................................44.1 Methods used for E-Marketing products and services..........................................................44.2 Manage online image of company........................................................................................5TASK 4............................................................................................................................................53.1 Marketing analysis techniques to research target market.....................................................5CONCLUSION..............................................................................................................................23REFERENCES..............................................................................................................................24

INTRODUCTIONMarketing is considered as a reliable management system which helps an organisation inmaking effective relationship between firms and customers. According to the case scenario, it isbeing analysed that a family is operating their small business in United Kingdom. Due toinappropriate knowledge about marketing their business is getting hampered so the present reportwill focus on determining the concept of marketing so that they can operate their business in aneffective manner (Burns, Bush and Sinha, 2014). Also, assignment will give an overview aboutaspects which are related to customers and E-marketing. In addition to this, tools and techniquesthat will be used for E-marketing is explained in this report. TASK 11.1 Concept of Marketing and its activitiesMarketing is a concept where company place their product and services according to thedemands and wants of customers. Thus marketing helps customers in getting products accordingto their choices and preferences. Therefore, it is crucial that company makes appropriatestrategies and plans which they can follow in order to get effective results and outcomes. As per the case scenario, Rachael's Garments and Company is an organisation whichmanufactures clothes. Their business is going great but because of not managing resources andother activities; they are not being able to generate ample amount of money and profit.Moreover, for improving their performance; enterprise can adopt different marketing abilities inwhich company is lacking behind (Gordon, 2013). Gradually, this will assist firm in improvingtheir sales and profitability. Therefore, some of the factors are mentioned below which Rachael'sGarment and Company can adopt:Planning of the product: Before introducing any product in the market, it is necessarythat firm have proper knowledge of customer size so that products can be produced according totheir needs and wants. Using different mediums for advertising: With the change in course of time, companycan now adopt different tools and techniques for promoting their activities. This will assist firmsin increasing their customers base. Promotional activities: in order to increase their sales and profitability this is consideredas an effective tools as it attract a large number of customers in given period of time. 1

1.2 Marketing Segmentation and its different typesMarket segmentation is a crucial activity and provides guidance to company aboutvarious demands depending upon geographical, demographical, behavioural segmentation etc.,thus, it is determined as one of the effective process under which market is divided on the basisof potential customers. Therefore, different types of segmentation are explained below for betterunderstanding:Geographical Segmentation: This type of market segmentation classify people on thebasis of geographical areas. Thus, people residing in different areas will have differentpreferences or needs and wants. For example: in some areas might be cold so people somanufacturing warm clothes will increase their sales and profitability. Demographic segmentation: It is consider as one of the simplest and effective type ofmarketing segmentation. This assist company in getting appropriate information related topopulation and products they are using. Demographic segmentation divides into variables likeage, gender, family size, income, occupation etc., In context with company they aremanufacturing clothes that for young aged people. Psycho-graphic segmentation: This is primarily done on the basis of lifestyle of people,interest and their opinion. This is some what same as behavioural segment and majorly focus oncustomers buying behaviour. Therefore, this segment will help firm in analysing consumer'sbehaviour (Smith, 2012). for example: Company is manufacturing clothes as per latest trends andchoices. Behavioural Segmentation: It divides population on certain criteria, which are based onbehaviour, usage and decision making. For example: Young people before buying their productswill prefer fashionable clothes as compared to old aged people. 1.3 Marketing MixMarketing mix is determined as one of the effective tool and is determine as a set ofactions through which firm can promote their products. It is further being classified into 4Ps and7Ps respectively i.e. price, product, place, promotion, people, process and physical environment.Most of the company use this marketing tools in order to improve brand image in front ofcustomers. 2

TASK 22.1 Aims of research and market analysisIn order to conduct business in an effective manner, it is necessary that an appropriatemarketing plan is prepared by company. As Rachael's Garments and Company is going throughsome complication regarding executing their activities.This will assist them in increasing salesand profitability in a speculated time frame. Therefore, in order to get effective result it is crucialto consider some of the aspects that are given below:Market size: This is mainly associated with the place where business expands and selltheir commodities and products so as to get better results in terms of profitability. Growth rate: This provides a insight of growth rate which is done by an organisation in aparticular period of time. It assist company in knowing the estimate market potential with thehelp of previous data base. 2.2 Market study methodThere are different kinds of methods which company can conduct in order to get effectiveresults of their research. Thus, if firm wants to get an appropriate result than they must usesuitable tools and techniques. Therefore, some of the tools are given below:Primary Market research: This methods is used if enterprise wants to get authentic and correctoutcomes. It is appropriate but time and cost consuming as well. It assist firms in gettinginformation related to current market trends and other companies which they are using. Incontext with Rachael's Garments and Company, primary market research is providing with anoverview of consumer's perception which is enabling them in manufacturing goods and productsas per the needs and wants of consumers (Lilien, Rangaswamy and De Bruyn, 2013). Thismethod of research includes different methods which are explained below for betterunderstanding. Survey: This is a primary analysis yet one of the most effective technique. Survey is donefrom a subset of population so as to know perception and demands of customers for a particularproduct. It is done with the of questionnaire and interviews. Observation: This is considered as an effective tools and researcher can conduct thiswithout participant's concern. Thus, it is determine as one of the common tools of gatheringinformation and it is primarily done on natural settings. It is most reliable method because datawhich are collected are true and unbiased. 3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Marketing Principles and Techniques Assignment - Button Queen
|11
|2851
|183

Marketing Principles Assignment : Bovis Cafe and Restaurant
|10
|2876
|37

Market Analysis Techniques and Principles INTRODUCTION
|23
|4416
|192

marketing principles and technique assignment sample
|23
|4416
|57

Marketing Principles | Assignment
|12
|3340
|176

Market Analysis Techniques and Principles INTRODUCTION
|10
|3024
|64