Marketing Principles-0

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Marketing Principles1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3Elements of the marketing process (1.1)......................................................................................3Benefits and costs of a marketing orientation (1.2).....................................................................4Analyse Macro and Micro environment (2.1)..............................................................................5Propose segmentation criteria (2.2).............................................................................................6Target strategy (2.3).....................................................................................................................6Positioning options (2.5)..............................................................................................................7Buyer behaviour affecting the marketing activities in different buying situation (2.4)...............8Product should be developed to sustain competitive advantage (3.1).........................................9Distribution is arranged to provide customer convenience (3.2).................................................9Pricing strategy as per marketing condition (3.3)......................................................................10How promotional activities should integrated to achieve marketing objectives (3.4)...............10Additional elements of extended marketing mix (3.5)..............................................................11TASK 2..........................................................................................................................................12Plan marketing mixes for two different segments (4.1).............................................................12Difference between marketing product to business rather than consumers (4.2)......................12International marketing to domestic marketing (4.3)................................................................12CONCLUSION.............................................................................................................................13References......................................................................................................................................142
Illustration IndexIllustration 1: PEST analysis............................................................................................................7Illustration 2: Marketing mix elements..........................................................................................133
INTRODUCTIONIn the contemporary environment, marketing is considered as an effective process whichmainly focuses on stimulating the demand of differentmerchandise in order to create, preserveand increase the share in market(Solomon and et.al., 2014).Marketing strategies must be usedby the organization to market their products and services in the marketplace. However, it istermed as procedure where enterprise bring the product in market and achieve the key objectivesthat is satisfying customers with increasing profit ratio.For carrying out the report, the chosenorganization is Starbucks which is one of the renowned coffee-house companies that mainlyserve variety of hot and cold beverages to the customers. Furthermore, the report focuses onunderstanding marketing concepts as well as process of marketing so that marketing manager ofStarbucks can easily use the concepts of segmentation, targeting and their positioning.TASK 1Elements of the marketing process (1.1)According to Chartered Institute of Marketing (CIM), marketing concept is not just aboutselling of products in the market(Sanchez-Hernandez and et.al., 2013). Business organization isrequired to consider different concepts of marketing and their significance regarding achievingtheir objectives. The different element of marketing process includes -1.Marketing Environment Scanning:One of the key elements in marketing processincludes scanning of the environment under which Starbucks operates their operations.The marketing manager must focus on scanning the environment that support them inknowing the market area as well as existing forces which impact the organization.However, it mainly includes analysis of micro and macro environment factors whichconsist of suppliers, organization and customers(Hollensen, 2015).2.Marketing Strategy:Another element of marketing process is formulating marketingstrategy. Marketing manager of Starbucks after measuring the environment is required todevelop or plan marketing strategies so that it may sustain in the market. It mainlyincludes methods like segmenting, targeting and positioning of the products.3.Marketing strategy implementation and evaluation:Once the strategy is formulated, it isthen implemented to observe the practical results(Dibb, 2010)). Thereafter, the actual4
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