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Marketing Principles Elements: Doc

   

Added on  2021-01-02

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MARKETING PRINCIPLES

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P.1. Explain the various elements of the marketing process.......................................................3P.2. Evaluating the benefits and costs of a marketing orientation for Volkswagen organisation.....................................................................................................................................................3TASK 2............................................................................................................................................4P.2.1 Show macro and micro environment factors which influencing marketing decisions......4P.2.2 Proposing segmentation criteria to be used for product in different markets....................5P 2.3 Choose a targeting strategy of a selected product and services.........................................5P 2.4 Demonstrating how buyer behaviour affects marketing activities in different buyingsituations.....................................................................................................................................6P. 2.5 Proposing new positioning for selected new products/services........................................6TASK 3............................................................................................................................................7P 3.1 Explain how products are developed to sustain competitive advantage............................7P 3.2 Explain how distribution in arranged to provide customer convenience...........................7P 3.3 Explain how prices are set to reflect an organisation objectives and market condition ..8P 3.4 Illustrate of how promotional activity is integrated to achieve marketing objectives.......8P 3.5 Analyse the Additional elements of the extended marketing mix.....................................9TASK 4............................................................................................................................................9P 4.1 Plan marketing mixed for two different segments in consumer market............................9P 4.2 Illustrate differences in marketing product and services to business rather than customer...................................................................................................................................................10P 4.3 Show how and why international marketing differs from domestic marketing...............11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONMarketing principles is essential part for the business, which must be taken into accountby each organisation's marketing professionals in case of generating sufficient amount of successin marketplace. In addition to it, the report will be discussed about various elements of themarketing process and Show how and why international marketing differs from domesticmarketing. Beside from it, the assignment also will be discussed about how products aredeveloped to sustain competitive advantage and how prices are set to reflect HSBC organisationobjectives and market condition. The report also would be discussed about Plan marketing mixedfor two different segments in consumer market of Vodafone UK and ow and why internationalmarketing differs from domestic marketing.TASK 1P.1. Explain the various elements of the marketing processMarketing: Marketing is the social process by which individual and group obtain they need andwant through creating and exchanging products and values with others. Customer's needs, wants and demands: Each successful business starts with knowing its customers in well manner. Customersare those people who are buying and selling those products and services which are offered byorganisation in marketplace. Customers might have high bargaining power by which they canreduce the prices of specific products and services which they want to purchase (Alserhan,2016). Furthermore, car selling approach can be gained by their companies on the basis of salesfigure alone rather than more customer oriented bases such as customer satisfaction or customerloyalty. For instance, driving hard bargains is still prevalent in many cars showrooms. So, it canbe said that according to customer's needs, the car showroom sales professionals require to berepresenting features of cars and it’s beneficial for consumers in effective ways. By identificationof wants and demands of consumers effectively, sales executive of automobile organisationneeds to present its services in an appropriate form.P.2. Evaluating the benefits and costs of a marketing orientation for Volkswagen organisationProduct concept: It has been examined that customer prefers the product that has betterquality and performance and features as opposite to normal product in the product concept. Incase of auto-mobile sector (Armstrong, Adam, Denize and Kotler, 2014). Volkswagen is beingoffered valuable and quality of luxury car products which have potential for gaining sufficient

amount of profitability within business environment. The product of organisation is capableenough to gain appropriate amount of profitability after computing its other cost of marketingorientation within business. So, products must be given specific costing by which they can gainrelevant amount of profitability.Competitive advantage:The competitive advantage can be gained by the professionalthrough offering various types of innovative and unique products that might attract its customermore towards its existing auto-mobile products so that effectiveness can be gained in relevantform. Promotional activities may bring out more customers for the business products(Armstrong, Kotler, Harker and Brennan, 2015).Customer satisfaction: With the assistance of various types of marketing essentialefforts, it can promote new offering and innovative product range in market in better way. Withthe assistance of marketing orientation practices, the organisation can enhance its professionalsin respective manner.TASK 2P.2.1Show macro and micro environment factors which influencing marketing decisionsMicro environment: The CEO of Volkswagen attended a meeting with organisation inorder to recognise immediate challenges facing by the company in industry. The companyrequire to formation of effective strategy through which they can reduce the influences of microfactors of business (Bose, 2010). This factors could be Suppliers can control the success of thebusiness when they hold the power, the resellers can reduce selling quantity of products. Apartfrom it, Volkswagen organisation's consumers and competitors might make impact upon itsmarketing strategy and their decision towards marketing orientations. So it can be said that,micro environmental factors of the business made widely influences upon its marketingdecisions.Macro environment: Varied macro environmental factors such as demographic factors ofthe country where specific types of marketing strategy need to be formulated by its professionals.Economic factors of the nation can influence upon profitability and productivity of business.Apart from it, the organisation require keeping up with advanced technology within its existingand new products as per its effective strategy (Brunswick, 2014). Social and cultural elements ofdifferent country possess adverse, Volkswagen marketing managers need to build up theirstrategy by considering all these macro factors.

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