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Marketing Strategies and Feasibility Study for Business Expansion

   

Added on  2019-12-03

9 Pages2694 Words153 Views
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MARKETINGPRINCIPLES
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Table of ContentsINTRODUCTION...........................................................................................................................1Marketing mix for two different segments..................................................................................1How and why international marketing differs from domestic one..............................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
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INTRODUCTIONMarketing plays most significant role in the modern era as it allows company to developawareness in the market and in turn enhances sales volume of the enterprise. Different principlesof marketing are present which organization applies in its operations so that need andrequirement of target market can be satisfied in efficient manner. Further, marketing differs fromone market to another such as international and domestic one (Gainer and Padanyi, 2002).Therefore, large numbers of efforts are applied by business so as to deliver best product to thecustomers and it enhances overall performance of enterprise in the market. Considering thepresent study organization chosen is Tesco who operates in retail sector and has worldwidepresence in the market. Business offers large number of products as per expectations of targetmarket. Various tasks have been covered in the study which involves difference in internationaland domestic marketing, designing marketing mix for two different segments etc. Marketing mix for two different segments In order to operate efficiently in the new market it is necessary for Tesco to designeffective marketing mix for two different segments so that customers can be offered right kind ofproducts in the market. Further, it is well known fact that need and requirement of every type ofconsumer differs from one another due to which it is must for business to design effectivemarketing mixes for two different segments (Helgesen, Nesset and Voldsund, 2009). In short,business can easily satisfy need of its target market through this and in turn it can act asdevelopment. Generally marketing mix takes into consideration four elements which are product,price, place and promotion. The selected product for two different segments is shower gel whichis generally used by both men and women. Marketing mix of the product is as follows:Product: The chosen product in case of men will be shower gel with vitamin E andenergy. This product is totally different from those offered to women as it will provideunique feeling to men after it is applied. This personal care product is good for health andwill protect skin of men from germs. Price: It is regarded as one of the most important element of marketing mix where Tescohas decide at what price the new shower gel can be offered to men so that they can beeasily attracted towards the range of commodity (Hennig-Thurau, Gwinner and Gremler,2002). Further, ineffective pricing strategy adopted can lead to decline in sales volume ofproduct and it will have adverse impact on business. Tesco will adopt competitive pricing1
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