Sample Assignment on Marketing Principles (Doc)

Marketing Principles

Contents
INTRODUCTION.....................................................................................................................................3
TASK 1.......................................................................................................................................................3
1.1 Explain the various elements of the marketing process.....................................................................3
1.2 Evaluate the benefits and costs of a marketing orientation for a selected organisation......................4
TASK 2.......................................................................................................................................................5
2.1 Explaining the concept of micro and macro factors which influence marketing decisions................5
2.2 Propose of segmentation criteria to be used for products in different markets...................................6
2.3 Choose targeting strategy for a product and services.........................................................................6
2.4 How buyer’s behavior affects marketing activities in different buying situations..............................7
2.5 Propose new positioning for a selected product and service..............................................................7
TASK 3.......................................................................................................................................................7
3.1 Explanation about how products are developed to sustain competitive advantage.........................7
3.2 How distribution is arranged to provide customer convenience.......................................................8
3.3 Explanation about how prices set to reflect an organisation objective.............................................8
3.4 How promotional activities is integrated to achieve marketing objective.........................................9
3.5 Analysis about the additional element of the extended marketing mix............................................9
TASK 4.....................................................................................................................................................11
4.1 Produce a marketing plan mixes for two different segments in consumer markets..........................11
4.2 Illustrate differences in marketing products and services to business rather than consumers..........11
4.3 How international marketing differs from domestic marketing.......................................................11
CONCLUSION........................................................................................................................................11
REFERENCES........................................................................................................................................12

INTRODUCTION
Marketing principles is the set of structure and guide which helps to motivate organization to
undertake the best productive nature of company growth. It is made up of many business majors,
marketing is defined as the total of activities involved in the transfer of goods from the product and sellers
to the consumer. Present study will be based on marketing principles of Falmouth college. This will be
explaining the different aspects of the business which encourage business into more effective manner. It
will explain various elements of the marketing process. Further, benefits and costs of a marketing
orientation for Falmouth College or a university. Moreover, this study will cover all necessary or
important aspects of the business organizations. This will also this will also cover the macro and micro
factors through marketing decisions are get influenced.
TASK 1
1.1 Explain the various elements of the marketing process
Marketing is referred to be a procedure that involves both administrative as well as social activities
needed to be undertaken by all type of companies, despite of their nature and type. This is basically to
fulfil the identified needs of the users that also have a vital requirement of interacting with others (Abril
and Rodriguez-Cánovas, 2016). Marketing in today’s modernised businesses not only depicts a mere
exchange of goods and services but also specifies a vital role of communication among the service users
and the providers. It thus involves the practice of creating procedures to communicate with one another,
deliver and exchange assistances that are valuable for the customers as well as other concerned bodies,
known as stakeholders.
This includes the clients, business partners as well as the society. The current marketing era has
begun with the acceptance of marketing concept by the society. Marketing function was commenced with
a motive of satisfying the determined needs and demands of the consumers as a way of gratifying them.
In accordance to this concept, it is important for Falmouth University to understand the exact requirement
of their patrons to accordingly design their work practices and policies, etc. It will assist them to
effectively deliver their wants in a desired manner by together combating the state of competition in the
market. This will in turn enhance the welfare of both the society as well as the patrons of the cited firm.
However, the marketing concept together consists of certain limited aspects with a foremost
difficulty in determining the exact needs and requirements of the customers in the market. This is though
due to a complex behaviour of humans (Boonpradub, 2015). Moreover, satisfied customers are not
evident to show a considerable growth of the quoted entity where a strategic approach is often known to
stress upon the ascertained demands of a specifically targeted segment of customers. This in turn impacts
upon the other divisions of the market in a negative manner. This section is to identify some vital
elements of marketing with a detailed explanation below- Situational analysis- This is referred to be a fundamental aspect of creating a successful
marketing plan. This involves evaluating the current state of the organisation with assistance of
SWOT analysis to assess its internal state. Also, assessing the external factors will be required to
ascertain the upcoming risks or prospects. Lastly, there exists a competitor’s analysis to assess the
competitive position of both Falmouth University and its other well-known contenders in the
market.

 Developing a marketing strategy- This involves crafting strategies in accordance to the above
carried exploration (Byrd-Bredbenner, 2017). It is usually being done by adopting the practices of
SMART objectives to clearly determine the agenda and communicate other concerned bodies
about the same where it should be attained within a specified period of time. Designing marketing tactics- This involves the application of marketing mix to frame clear
strategies as a way of focussing upon the exact requirements to accomplish the set organisational
goals and objectives. Implementation and control- This being the last step involves the application of the above
intended tactics and evaluate its efficiency in terms of controlling, if not perceived to meet out the
intended aims of Falmouth University (Balasescu, 2015).
1.2 Evaluate the benefits and costs of a marketing orientation for a selected organisation
Marketing orientation is meant for the reaction of a business in agreement to the identified needs
and demands of the customers and the way in which, those are being satisfied by Falmouth University.
Due to a high level of competition in the market, it gets important for the enterprise to strongly maintain
its position in the market. This in turn necessitates the establishment to offer the products and services in
the best possible quality. The concept of marketing orientation is stated to be one of the most common
alignment that is utilised to combat the rising marketing related issues (Dagevos, 2016). It is with another
prime focus on inclining and ascertaining the factual wants of the consumers to further design accordant
strategies. This is for instance on demonstrating the existence of market orientation in context to
Falmouth University, it is important for them to clearly identify the current undertaken courses that are
designed for the students and their significance. Further, it must be with a specific concern of determining
the need of any other relevant courses that are required to be involved in the syllabus to meet out the
changing aspirations of the students. The process of marketing orientation consists of total 5 vital
components, as discussed below-
 Production- This states about the integration of the resources to design a quality and
affordable product or service for the users.
 Product- It can be either tangible or intangible with a prime moto of meeting the demands of
the consumers.
 Selling- This will involve the efforts made by the marketing or selling team of Falmouth
University to promote their services and sell them to earn profits (Brar, Kumar, Patil and
Gade, 2018).
 Marketing- It indicates the procedure of selling via advertising and promotion, etc.
 Social responsibility- This refers to an ethical framework defining the obligations of the
society to act towards their benefits.
There together exists some set of benefits and limitations of marketing orientation, as elaborated
below-
 Benefits-

o Building customer value- This refers to the foremost benefit of market orientation that
helps in enhancing the sense of loyalty in customers who are getting services in
accordance to their identified needs.
o Responding to the demands- It is yet another effective approach to enlarge the base of
customers by fulfilling their demands (Curtis, Lundholm and McVay, 2014). It together
assists the companies to design new set of products and services with some invention to
meet out any modified requirements of the customers in the market.
 Costs-
o Widespread investigation leading to costly research- This is a major limitation of the
company where they are required to carry out an extensive research to explore the
market. This leads to increase the requirement of funds with more number of expenses to
carry out such exploration.
o Increasing value leading to rising cost- It is mainly in context to an increased cost of
production where this in turn diminishes the profitability aspect of the entities (Elenkov,
2014).
TASK 2
2.1 Explaining the concept of micro and macro factors which influence marketing decisions.
This is the main and essential concept of business environment or in sense of marketing
essentials. This helps to enhance the effective value making ideas which creates new surroundings of
business activities (Serrat, 2017). Besides, these all macro or micro factors also influence the business
functions as well and sometimes things are get to wrong and ineffective. Micro factors are those factors
that are present in internal environment of the company such as customers, suppliers, governmental
and employees. This micro concept explains the factors which affect from internal. Macro factors refers
to the external environment which gives new learnings and adverse effect of business activities. Some of
the macro factors are includes Political, economic, social, technological, legal and environmental.
Micro factors
Customers/clients: clients are the most distinct factor that affect directly to the business activities this
enhance the better opportunity or loss level performance of the company (Huang, Y. T. and Rundle-
Thiele, 2015). Falmouth university requires to accomplish their customers needs and wants in
according to their profit margin levels.
Employees: it is another micro factor which affect marketing decisions. They might be enhancing or
reduce the effectiveness of marketing activities. Company always needs to adopt best approachable
employees for their organizations.

Government: legal regulations or code of conduct moreover, it is the long-term process or target market
growth in terms of making good things. Company should always adopt and make aware about true
regulations related to education sector in order to fulfill the best target goals (Fine, 2017).
Competition: rival firms are another major factor which affect company marketing activities. Company
should need to adopt best approachable marketing tools to compete with their rival firms.
Macro factors
 Demographic forces: different market segments are affected by the demographic changes
including country, religions, culture etc. these factors affect company marketing decision
making.
 Natural physical forces: this is another factor which affect overall process or target market
growth. New changing environment enhance the new changes through other companies get
affected from the new changes.
Economic Factors: it is another factor which affect company decision making approach (Nowak, Gellin,
Mac and Butler, 2015). Apart from that, economic environment might be affect company through
changes in curriculums and models of changes in education sector.
 Technological growth: macro concepts includes another major factor under macro
environments which affect company functions or marketing decision.
 Political or legal: these two are another factor through company has to change their policies and
decision-making process in order to deal with company functions.
 Social factor: it is the most necessary factor for Falmouth to be considered while preparing the
overall structure of the organizations.
2.2 Propose of segmentation criteria to be used for products in different markets
Segmentation criteria: it is the most powerful process could be used by Falmouth organizations for
making segregation in its marketing activities (Curtis, Lundholm and McVay, 2014). It is the process
under which activities will break into the sub section in order to meet the new changes and target
market goals. In this section Falmouth university can easily breaks their activities on the basis of age,
gender, income or furthermore. It is the
Demographical criteria: it is another division under which organizations might be creating another
segmentation on the basis of income, product and services offering to the students and clients.
2.3 Choose targeting strategy for a product and services.
It is the direct marketing strategies through organizations enhance their selling activities. Company is
being focusing on selling environmentally friendly which helps to accomplish the company vision and
mission. Some of the adopt strategies are
Cost leadership strategy: it is the strategy under which company needs to sell its services on less pricess
it offering in the given market segments (Elenkov, 2014).
. For which company also needs to analyze the internal or external factors for measuring the effective
growth.

Development of core competency: it is another strategy for a product and services. Its gives more power
to handle the overall growth of marketing activities. This helps company to take its marketing values
more enhancing.
2.4 How buyer’s behavior affects marketing activities in different buying situations.
Buyer behaviors: this is related with sum total of buyer’s perception. This behavior will be based
on needs, intention, and current scenario. Falmouth college needs to analyze the market and current
requirements of students for their best career growth. There are different conditions when clients are
changed their behavior towards the product and services (Curtis, Lundholm and McVay, 2014). Such as
giving below:
 When clients are more inclined and attract towards the low-price courses.
 When they are more concern about new developments and competition level.
 When clients are more inclined towards offered by organizations.
2.5 Propose new positioning for a selected product and service.
Purpose of new positioning is important for getting new market growth and opportunities. This
will help to enhance the better opportunity and growth. New graduation programs in computer science
will organized by the Falmouth college for stable their market position in long term market. New
positioning is equally necessary for long term profit and stability.
TASK 3
3.1 Explanation about how products are developed to sustain
competitive advantage
To maintaining preferences of market rivalry the accompanying methodologies can be utilized by the
Falmouth university that are portrayed as under;
Driving in cost: it is exceptionally helpful to support value of competition circumstance. Organization can
utilize bring down value technique to their new propelling item. It builds the client fascination for
hierarchical merchandise, they are more cost arranged by and large they needed subjective ware at
modest cost. Accessibility of essential assets help to creation office to maker products to pick up
measure of purchasers (Al-allak, 2010).
Differentiate strategy: it is more reasonable for the individuals who having ability to improve them for
their quality and highlights. It organizations to manage the opposition and get its focal points to
expand their benefit alongside upgrade trust of client for better attributes of their product.
Focus: it is more reasonable in Niche advertise section. In the event that the organization select this
centering approach association target particular gathering of purchaser for their offer item and
administration. It can done through discover need of client in restricted market.

3.2 How distribution is arranged to provide customer convenience
The distribution is relate with purchaser conduct. They like at the chance to visit a particular place or
store to buy their alluring item. It is exceptionally fundamentals for all business element to utilize
appropriate channel of circulation to give accommodation to make it accessible for mass. The
accompanying system can use by the Falmouth university;
Offline: It is conventional and most useable purchasing methodology of item or administration. In this
sort of individual offering, entire dealer and retailers pitching trades the estimation of item of
organization (Ayub, Adeel, Muhammad and Hanan, 2013). It is strategy where the purchaser and
merchant collaborate individual to satisfy the motivation behind business exchange. The upsides of
this approach is customer questions about products is fast purpose by discussion.
On the web: in exhibit time to spare time maker convey their item to end client however utilizing the
web site. Online dissemination diminish the cost of conveyance of association. The presence of
center is no in this approach of offering and circulation.
3.3 Explanation about how prices set to reflect an organisation
objective
There are following strategy for evaluating which embraced by the Falmouth university to make it
available for its clients portray as under;
Penetration pricing strategy: it is more appropriate amid organization dispatch their item to pick up
client fascination toward products of association. It builds offers of ware of big business alongside it
aids increase upper hands.
Competitor distribution pricing strategy: contender estimating strategy help to confront showcase
rivalry it organizations stop competition to cut their piece of the pie by setting cost concurring
Falmouth University. It appropriate for those business element which convey great quality item at
moderate cost to it client.
Price skimming: It is a procedure by which organization charges the most elevated beginning costs that
clients will pay (Brooks and Simkin, 2012). As the request of the principal client is fulfilled the firm
brings down the cost to draw in another, more value delicate section.
Psychological pricing: It is an estimating in light of the hypothesis that specific costs have a mental
effect. It is an idea which expresses that specific costs have affect on purchasing power. These costs

get the attention of the client and comes about into purchasing of the item. These are additionally
alluded as enchantment costs or appeal costs
3.4 How promotional activities is integrated to achieve marketing
objective
The significance of marketing is exceptionally critical in accomplishing and manage the objective and
destinations of the business undertaking. Promoting exercises advises the message of maker to
mass market to increase upper hand of market. In this setting of Falmouth University can utilize
different limited time exercises to meet their objective. Setting occasions at general store can
organization build people in general relationship which is useful in big business to make more client
and increase viable piece of the pie. Free example conveyance improves purchasers of firm
(Cacciolatti and Fearne, 2013). Coordination with up and coming film and show help to make
attention to new propelling result of the organization builds clients and request of their products
that help to organization to accomplish their decided development. It is fundamental for every
single business association to assess their quality and chances to make significance wanting to draw
in more buyer interest for their future and enhance item
Individual selling: It is a procedure that happens when a business agents meets with individual
customers for the target of offering item. In this showcasing agent straightforwardly contact with
end clients and persuade for obtaining item.
Public relation: It is a procedure under which showcasing delegate and promoting execute create
association with clients.
3.5 Analysis about the additional element of the extended marketing
mix
There a few segments that incorporate into the showcasing blend which help to top administration to
make reasonable wanting to elevate hierarchical item to accomplish the objectives and goals of the
association. Utilization of limited time blend is exceptionally basics to manage the development of
organization advertising blend include different components like item, value, place and
advancement. These are conventional component of this approach in display time three extra
factors incorporate into it that are depicted as under;
Process: it is allude as the whole procedure through which organization convey the item to fulfill need of
client. With regards to Falmouth university has embraced straightforward of convey channel while
the utilization mystery approach of generation to maintain their nature of product

People: it is most vital components of showcasing blend components in this setting its relate with
administrations of association. The part of forefront sales representative is exceptionally critical in
light of the fact that their method for client taking care of is influence the purchasing conduct of
purchasers.
Physical evidence- in advertising blend it is extremely essential component the purchaser expending
conduct or purchasing conduct is influence the impalpable administration. With regards to
Falmouth university organization logo, turn of phrase and plan of pressing will consider as physical
confirmation.

TASK 4
4.1 Produce a marketing plan mixes for two different segments in consumer markets.
Marketing plan includes several processes making under which marketing mix has includes. marketing
mix is the most prominent elements and strategies which helps to define the company characteristics
((Curtis, Lundholm and McVay, 2014). It includes different mix such as product mix, price mix,
promotion mix and place mix. It covers the most necessary process to identify the company growth.
Product: Product in terms of new graduation course provided by the organization.
Place: Place is another growth factor to undertake the effective service growth factor.
Price: Prices at which students purchase or take enrollment into the course on the basis of some specific
prices.
Promotion: it is the activity through all marketing activities which occurred.
4.2 Illustrate differences in marketing products and services to business rather than consumers.
Business Marketing Consumer Marketing
In this process company sells their services to
other business organizations.
Consumer marketing business sells their services
to customers or clients.
Functions has covered business to business. Free offering to customers by effective marketing
strategies.
Using sophisticated could be made with other
business organizations.
Using of different consumers offers
4.3 How international marketing differs from domestic marketing.
Domestic Marketing International Marketing.
It is spread on small scale level It is the long-term process or based on large
scale.
Government interference is less comparatively
international market (Curtis, Lundholm and
McVay, 2014).
Comparatively large with domestic marketing.
Domestic marketing used limited technology in
terms of making good performance.
Use high or advanced technology in terms of
international marketing.
It involves less risk It involves high risk.
CONCLUSION
From the basis of above section, it can be concluded that, marketing principles helps to generate
productive ideas and innovative terminologies in order to implementing the task-oriented goods and
services. From the analysis of overall study about explaining the micro and macro factors through which
company get affected in so many different ways. Besides, the main purpose of the segmentation process
in the business organization. This will also help to control the better opportunity and growth. Further, it
will explain about differences about marketing products and services with consumers. Overall, this study
has introduced new matter of fact and covered the all necessary task of making good skills and growth.
Likewise, study also covered the new positioning for Falmouth university to enhance their market value

and best effective research strategies to accomplish the best possible action plan. This brings new
opportunity and growth in order to full fill the best approachable factor making performance.
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