Marketing Principles - Assignment
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Added on 2020-12-28
Marketing Principles - Assignment
Added on 2020-12-28
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Marketing Principlesand Techniques
Table of ContentsINTRODUCTION ..........................................................................................................................4TASK 1............................................................................................................................................41.1 Marketing and functions perform by marketing department................................................41.2 Market segmentation.............................................................................................................51.3 Marketing mix ......................................................................................................................5TASK 2............................................................................................................................................62.1 Aim of research and market analysis....................................................................................62.2 Market research method........................................................................................................62.3 Market analysis tools and techniques....................................................................................7TASK 3............................................................................................................................................74.1 Methods used for e-marketing of products and services.......................................................74.2 Method regarding management of online image of organisation.........................................8TASK 4............................................................................................................................................83.1 Application of market analysis techniques to research target market of own products........83.2 Interpretation of market research and analysis......................................................................93.3 Presentation of the findings to marketing team.....................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTION Marketing techniques are those that are used by marketing department in order toencourage sales of products and services of company. Marketing is a process of facilitatingproducts and service to customers. Marketers should ensure that their products are timelyavailable to customers (Batini and Scannapieco, 2016). This leads to better satisfaction ofconsumers. By using different tools and techniques, marketers can develop better plans and alsoresult in more sales. They implement different marketing functions and marketing mix whileformulating plan in order to increase the efficiency of plan. This project is based on The Ovenbakery which is situated in London, United Kingdom that offers different types of products suchas cakes, pastries, doughnuts, wafers, etc. This assignment will cover different aspects ofmarketing, marketing research, E – marketing, etc. TASK 11.1 Marketing and functions perform by marketing departmentMARKETINGMarketing is a process which help company to sell their products and services into targetmarket and to customers. Company invest huge amount of money in marketing activities so toachieve higher sales, more profitability and better brand awareness. In order to maximisemarketing of company's product, organisation uses different techniques and they are advertising,promotion, selling and delivery of the goods and services. Marketing department developsuitable marketing plan that assist company to achieve all its marketing objectives (Bishop, Fodyand Schoeff, 2013). The Oven Bakery needs to carry out marketing activities and for that theycan implement following marketing functions. Promotion: Main role of promotion is to enhance the image of products and company inthe mind of customers. This is a powerful tool which help company to advertise and promotetheir bakery products so that people come to know about their products which they are providing.With strong promoting tools, company can attract large number of customers towards theirbakery and encourage their sales. As a result, more profits to company. Market-research: Bakery can run different types of investigation and surveys in order tofind out tastes and preferences of customers and providing them the desired taste in theirproducts. Market research is used by company to identify the reason due to which customers buy
i.e., needs and wants of customer. If company is aware about that then it would be easier forthem to modify their products accordingly.By applying above marketing functions, Oven company can analyse their targetcustomers with people and can plan their marketing strategies according to that.If marketingactivities is align to the mission and vision of company then they would attain competitiveadvantage over others in future. 1.2 Market segmentationThis is a process which help in dividing markets and people based on their characteristicsand divide them into different segments and groups. This segmentation help in targeting marketand people in better manner and satisfying all their needs by fulfilling them. In order to knowabout exact markets and customers, The Oven Bakery can research on following segments:Behavioural segmentation: This help company to know about tastes and patterns ofcustomers and offering their products and services according to that. This segmentation dividespeople on the basis of their behaviour, usage and decision making patterns. Geographic segmentation: This segmentation helps in dividing customers and marketsaccording to geographic region (Lees-Marshment, 2014). Various geographical variablesinclude: Country, region, city or town size, etc. Company uses this type of segmentation forinstance company can not sell ice cream in the cold places as it won't help company to increasetheir sales. Psycho graphic segmentation:This segmentation is mainly concerned with lifestyle ofpeople, their activities, interests, etc. It is similar to behavioural segmentation. In this customersperception, values, beliefs, religion, cast etc is analysed and monitor by company so to maketheir product accordingly.Demographic segmentation: It divides population on the basis of different variables andthose are age, gender, religion, race, colour, income, occupation, etc. This is most widely used bycompanies. The Oven Bakery adopt this segmentation in order to know about differentcustomers.1.3 Marketing mix It is a tool that is used by marketers to achieve marketing objectives of company.Marketing mix is one of the the effective tool which mainly includes 4P's, that are product,
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