Marketing Principles and Techniques Report

This report analyzes the application of marketing principles and techniques for Origin, a furniture company in the UK. It covers concepts like market segmentation, marketing mix, market research methods, and e-marketing strategies, highlighting how these elements contribute to Origin's success.

MARKETING PRINCIPLES AND
TECHNIQUES

Table of Contents
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
1.1 Marketing Concept...........................................................................................................4
1.2 Market Segmentation........................................................................................................4
1.3 Marketing Mix..................................................................................................................5
TASK 2............................................................................................................................................7
2.1 Aim of Market Research and Market Analysis................................................................7
2.2 Market Research Methods................................................................................................7
2.3 Market Analysis Tools and Techniques...........................................................................8
TASK 3............................................................................................................................................9
3.1 Methods used for E-marketing.........................................................................................9
3.2 Ways to manage Online image of Business...................................................................10
TASK 4..........................................................................................................................................10
4.1 Use of Market Analysis Techniques...............................................................................10
4.2 Interpretation and findings of Market Research and Market Analysis...........................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing principles and techniques are very important for any business to run
successfully in the target industry. These factors help owner of the organization to build a strong
brand image in market. This report will discuss about the concept of marketing and its
applications used by Origin. This is a furniture company which provides their services in the UK.
It will also discuss the different concepts which are present in the industry like market
segmentation and marketing mix for the business. This report will focus on various methods of
research and how it helps in their market analysis. It will also explain different methods used for
e-marketing of products and services of respective businesses.
TASK 1
1.1 Marketing Concept
To increase their overall productivity rate of organization, they have to ensure proper
marketing tool applied in business. This will also enhance its production, sale and profit rate.
Marketing is used by the organization to get information related to their customers like for
example, their needs and preferences from that organization and how they can make
improvement in their production system to increase their sales, etc (French and Russell-Bennett,
2015). There are so many ways in which an organization can promote their products and services
in the market such as by advertising on TV, radio, by using print media such as newspaper,
magazines, posters or even they can use internet as well because it is very popular nowadays. It
is very important for company to have an effective marketing strategy which can help them to
achieve their targets and objectives (Cross, Belich and Rudelius, 2015).
1.2 Market Segmentation
For their proper functioning of business in industry, it is very important for organization
to have a good market segmentation of their customers to deliver right product to appropriate
customers in market (Graber, L.W. and et.al., 2016). This segmentation of market is a process
which is used to divide customers on the basis of their similar behavior, for example, according
to their liking and preferences of the products, income group, locations, etc. There are four
different types of segmentation which can be implemented by the business owner to target their
customers such as:
Psycho graphic segmentation: This process divides their customers on the basis of their
lifestyle, activities, interests as well as opinions in buying any product or service in the market.

This method helps the business owner to provide the best service according to their preferences
(Kubacki, Dietrich and Rundle-Thiele, 2017).
Demographic segmentation: It is the most widely used method in the business. In this
process, customers are divided on the basis of their age, gender, family size, income, occupation,
religion, nationality, etc. This is applied in the business to get the right customers for their
products (Habibi, F. and et.al., 2015).
Behavioral segmentation: Customers are divided on basis of their behavior, usage of
their products and on their decision process for buying any service in market. There is difference
in behavior of consumer with respect to change in circle, peer members, etc. hence it is important
and relevant to analyses it and then provide appropriate products.
Geographic segmentation: In this method, customers are divided on the basis of their
geography in which they live. This will help the owner of business to provide appropriate
services to them (Huang and Sarigöllü, 2014).
1.3 Marketing Mix
It is a type of process which is used by owner of the business to promote its brand or
products in market. This method is a set of actions or tactics that a company can use in their
Illustration 1: Market Segmentation
Source : (Market Segmentation Types, 2018)

management system to attract more customers. There are basically 4 different types of marketing
mix processes, for example, Product, Price, Promotion and Place (Lees-Marshment, 2014).
Promotion This method includes various promotional activities which are
carried out by Origin to promote their services and products in the
market. It is beneficial for the business to attract customer’s
attention towards them. There are different ways to achieve this
like giving discounts and offers on their products by advertising,
through campaigning, etc (Solomon and et. al., 2014).
Place This is the factor which measures their products rate which are
being sold in the market. It should be easily accessible for their
customers to buy their products.
Price This is an important factor for any business to work properly. It
has to be managed according to their clients. Origin should set
their pricing strategies as per their customers so that they can
easily afford the same (Serrat, 2017).
Product In this method, it includes all products and services which are
provided by them to their customers in the market. All services
should be according to their needs and preferences because it will
help the owner to satisfy their customer's requirements.

TASK 2
2.1 Aim of Market Research and Market Analysis
For any business to operate successfully in the market, it is very important for them to do
a proper market research and its analysis. This will help them to deliver the best services to their
customers. The main purpose of market research is to gather data and information about their
potential customers. This information helps them in decision making process and in decreasing
the risks which can be faced by them. For Origin, it is very important to understand their
consumer's liking and preferences. In market analysis method, company understands the way in
which market operates in the target industry and different manner in which it can affect their
functions (Strauss and Frost, 2016). This will help them to improve the services and come up
with new ideas for their clients.
Market research helps the owner to introduce new products according to their customers
which they can prefer as it will help them to reach to maximum number of customers. It will also
ensure to improve the brand name in market. To increase their sale production, market research
will help them to evaluate various territories, their buying patterns, packaging and other such
attributes to bring better results (An Overview of Market Research Methods, 2017).
Market analysis is also important because there is difference in demand of consumers
according to difference in age, income, etc. hence with market analysis, it is clear what is
Illustration 2: Marketing Mix
Source : (Elements of Marketing Mix, 2017)

demand of consumers and accordingly changes are made. Market analysis is time consuming
process because manufacturing and marjketing of product are done accordingly.
2.2 Market Research Methods
There are various ways in which owner of Origin company can do market research for its
business, i.e. Primary and secondary method.
Primary Research Method  It can be achieved by different ways like for
example: by conducting surveys, focus groups,
taking interview, their observation and by field
trials (Different Types and Methods of e-Marketing,
2018).
 In this method, owner by himself gathers the
complete related information which can be
beneficial for them to run their business effectively
in the market.
Secondary Research Method  In this method, company uses the information
which is already existing through various sources
such as articles, journals, information from
agencies such as government agencies, libraries,
from internet, etc.
 This method is very quick to be implemented in the
business (Lees-Marshment, 2014).

2.3 Market Analysis Tools and Techniques
There are various market analysis tools and techniques which can be used by Origin to
perform their tasks to gather information for their improvement in the products and services
which are being provided to their customers. They can use, SWOT or PESTLE analysis to
understand their strengths and weaknesses as well as other external environmental factors or
Porter's Five Forces Method, Ansoff's Growth Matrix, etc. to analyze their current position in the
market (Graber, L.W. and et.al., 2016).
PESTLE Analysis : PESTLE analysis is the management tool which is important to analyse
external forces which affects business operations. This may get positive or negative impact.
These policies are not in control of managers so Origin has to alter business operations according
to external market. It is used to evaluate the external environmental factor which can affect the
functioning of Origin company.
Illustration 3: Market Research Method
Source : (An Overview of Market Research Methods, 2017)

(Source: PESTLE Analysis, 2017)
Political Factors They have to follow all the rules which is compulsory for them
(French and Russell-Bennett, 2015). Due to political factors, such as
employment policies, tax laws, trade restrictions, etc. can affect the
Origin Company.
Economic Factors These factors include, macro and micro-economical economic
factors such as interest rates, exchanges rates, inflation, and
disposable incomes. There are various economic factors which has a
great impact in their business.
Social Factors These can help Origin company to provide the best products to them.
These factors include the behavior of their customers which can
include, preferences, lifestyle, etc.
Technological Factors This will ensure that their products are of the best quality with the
latest technology (Cross, Belich and Rudelius, 2015). Working as a
furniture company it is very important to update their system with
the latest trends in technology.
Illustration 4: PESTLE Analysis

Environmental Factors They should ensure that their products and services are not harming
the environment (Strauss and Frost, 2016). It is very important to
take of the environment and their surrounding in which they are
operating their business.
Legal factors There are legal factors also which can affect their function, such as,
rate of inflation in the market (Kubacki, Dietrich and Rundle-Thiele,
2017). There are various laws and regulations which has to be
followed by the company to run their business smoothly in the
market.
TASK 3
3.1 Methods used for E-marketing
E-marketing is a type of marketing process which is used to promote their products and
services through means of modern technologies, for example, the internet and mobile. There is a
huge importance of e-marketing as it has increased in the past years due to the result of increased
number of internet users in UK. It has become one of the most popular way to find or gather
information or search for a produc (Different Types and Methods of e-Marketing, 2018)t. There
are many e-marketing methods which can be used by the Origin for their promotional activities,
such as, through e-mail marketing in which company can do marketing of their products through
targeting a certain segment of customers via e-mails. It is the best method as it is a low cost
method. Origin can also use paid advertising method, in which the can put their ads on several
websites for promotional aspect, such as, on Google Ad-words, LinkedIn, etc.
One of the best way for to do their promotion of their products and services is on social
media platform. It is the most popular channel now days which can help this company to gain
popularity in the market (Lees-Marshment, 2014). There are so many advantages of social
media, for example,
 It helps to target their potential customers. With the help of e- marketing managers of
Origin can contact more people at once, hence this saves time.

 It increases their customer loyalty for their products and services which is being provided
to them by Origin company. These sources are accessed 24*7 so it is easy to consumer to
contact with organization. Hence there is ease in interaction among company and
consumers.
 It can help to increase their knowledge and reputation of their company in the target
industry. With e- marketing concepts, it is easy to make creating brand awareness. It is
easy to anlayse policies of competitors and accordingly changes are made by managers of
Origin.
 Increase the customers as well as profitability rate for Origin company. Managers of
Origin are able to attain global reach, so this is beneficial for growth and development of
organisation. With the help of social media sites such as social media application, etc.
3.2 Ways to manage Online image of Business
For Origin, as it is a small size business, it is very important for them to maintain their
image in the market (Habibi, F. and et.al., 2015). It can be achieved by managing online image
of the company because it will help to build brand image in target industry which can attract
more customers towards them. There are various ways in which company can maintain their
image in the business. It can be done by publishing attractive advertisements which includes
information related to their discounts and offers which is provided to their customers on internet
with help of social media, for example, Facebook, Twitter, Instagram, etc.
These applications will help them attract people and buy their products. It increases the
chances of their sales production and to earn a good revenue (French and Russell-Bennett,
2015).
TASK 4
4.1 Use of Market Analysis Techniques
There are so many advantages' ans uses of market analysis techniques. It can help Origin
company in various ways, for example,
 It helps them to provide information related to the latest trends in market.
 Market analysis techniques like SWOT and PESTLE analysis helps to find their strength
and weakness (Graber, L.W. and et.al., 2016).
 It helps to identify more opportunities available in the market.
 It gives Origin company about market information on various product prices.

 It also helps to analyze their threats and competitors present in the industry which will
encourage them to do their best in the business to gain a good revenue.
 It enhances a healthy communication with their customers by understanding their likes
and preferences (Strauss and Frost, 2016).
4.2 Interpretation and findings of Market Research and Market Analysis
From the above market research and analysis, it can be interpreted that they play an
important role in their business in giving them information related to their products and services
and about their customers as well. It also helps to understand them better and can improve their
products according to the gathered information (Cross, Belich and Rudelius, 2015).It increases
their sales production in the market. It also ensures to attract more customers towards them.
CONCLUSION
From the above report it can be concluded that marketing principles and techniques is
very important for any business to run smoothly in the market. It helps to provide all the
important information related to the business which can be useful for them to implement. This
report also explained about various concepts of market, such as, marketing segmentation and
marketing mix which is used by Origin to understand their customers more accurately and can
provide their services according to their preferences and needs.