logo

Marketing Principles and Environmental Factors Study

   

Added on  2019-12-03

13 Pages4271 Words162 Views
Marketing Principles 1

Table of ContentsINTRODUCTION ...............................................................................................................................4TASK 1.................................................................................................................................................41.1 Elements of the marketing process............................................................................................41.2 Benefits and costs of a marketing orientation for Primark .......................................................42.1 Macro and micro environmental factors which influence marketing decisions........................52.2 Segmentation criteria to be used for products in different market ............................................62.3 Targeting strategy for launching new clothing style for female................................................62.5 New positioning for launching new clothing style for female...................................................72.4 Impacts of buyer behaviour on marketing activities in different buying situations..................73.1 Development of the products to sustain competitive advantages .............................................73.2 Distribution arrangement for giving customer convenience .....................................................83.3 Pricing strategy as per the market conditions ...........................................................................83.4 Integration of promotional activities to achieve marketing objectives......................................93.5 Analysis of additional marketing mix elements in the context of Primark ...............................9TASK 2...............................................................................................................................................104.1 Planning of marketing mixes for two different segments........................................................104.2 Differences in marketing products and services to businesses rather than consumers............104.3 Difference between domestic and international marketing .....................................................11CONCLUSION...................................................................................................................................11References..........................................................................................................................................122

Index of TablesTable 1: Micro environmental factors .................................................................................................5Table 2: Macro environmental factors .................................................................................................5Table 3: Planning of marketing mixes for two different segments.....................................................10Table 4: Difference between domestic and international marketing .................................................113

INTRODUCTION Marketing is a technique adopting by every type of organization for promoting the goodsand services in the market for the target customers in more effective manner. It has also helped inidentifying the needs and expectations of the services users (Principles of Marketing. 2012). Thefollowing study has based on the marketing principles and to understand its importance in theindustry, Primark has taken into the consideration. The aspects which will cover under the followingstudy are elements of the marketing process, micro and macro environmental factors on decisionmaking process, development of new products, effective distribution of the goods and services andmany other things. TASK 11.1 Elements of the marketing processThe elements of the marketing process for Primark are as follows. Analysis of environment and market: Here, the different strategic tools have used to analysed theenvironment and current market position of Primark. The techniques which can be used for theanalysis are SWOT, PESTEL, Porters Five Force Model etc (Butler, 2014). Identification of target market: Now, the target market of Primark has identified which can belocal or national or international. It helps in targeting the market segment of the company where ithas run the various business operations. Setting objectives of marketing: Under this stage, the long and short term objectives with theperspective of Primark brand image has set. These objectives are closely related to the businessstrategy such as increase the presence in the international market, enhance brand values, increasethe number of product lines etc (D'Esopo and Almquist, 2007). Handling with marketing mix elements: In this element, Primark has required to deal with everymarketing mix components which helped in knowing the customers demands and needs. Reflection, control and revision: The following element has used by Primark in cyclic manner forthe assessment and knowing the effectiveness of the marketing strategies. With the help of this, thecompany can bring the improvements in the existing strategies as per the changes in the externaland internal environment (Grinstein, 2008). 1.2 Benefits and costs of a marketing orientation for Primark With the help of the marketing orientation, Primark has developed the new services andproducts according to the identified the needs and expectations of the customer (Avlonitis, 2011).The benefits and costs of this method for the company is as follows. 4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Macro and Micro Environmental Factors (PDF)
|15
|4803
|292

Case Study of Marketing Principles - Jaguar & TESCO
|19
|4661
|36

Marketing Principles for Tesco: Segmentation, Targeting and Positioning
|8
|2326
|130

MARKETING PRINCIPLES TABLE OF CONTENTS Introduction 3 Task 13 1.1 Product/Service Development and Marketing Strategy
|24
|7633
|303

MARKETING PRINCIPLES TABLE OF CONTENTS INTRODUCTION 1 TASK 11
|14
|4627
|458

Benefits and Costs of Market Orientation of Mcdonalds
|18
|4848
|37