MARKETING PRINCIPLES TABLE OF CONTENTS INTRODUCTION 1 TASK 11

MARKETING PRINCIPLES

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Elements of marketing process.........................................................................................1
1.2 Benefits and costs of marketing orientation.....................................................................2
2.1 Macro and micro environmental factors...........................................................................2
2.2 Propose segmentation criteria...........................................................................................3
2.3 Choosing targeting strategy..............................................................................................4
2.4 How buyer behaviour affects marketing activities in different buying situations............4
2.5 Proposing new positioning strategy..................................................................................5
3.1 Product development to sustain competitive advantage...................................................5
3.2 Distribution of products....................................................................................................6
3.3 Setting a product price......................................................................................................6
3.4 Promotion activities..........................................................................................................7
3.5 Additional elements of marketing mix.............................................................................7
TASK 2............................................................................................................................................7
4.1 Marketing mixes for two different segments in consumer markets.................................7
4.2 Differences between B2B(Business to Business) and B2C (Business to Consumer)......8
4.3 Differences between International and Domestic marketing...........................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing principles is a process that helps in identifying the needs of consumers and
then providing the same in order to attain satisfaction. However, it is essential for business to
undertake 4 P's marketing mix i.e. product, price, place and promotion in order to develop unique
business strategy and attain competitive advantage. Manger of firm is required to build different
ideas so that best promotional campaign can be launched in the marketplace to enhance sales and
profitability (Lantos, 2010). Through this, firm will be able to launch their products in
international market by expanding their operations. In the current report, Marks and Spencer
(M&S) has been selected which is a major retailer and provides different products such as
clothing, home products and luxury food products. Further, a detailed industry analysis has been
done of M&S by carrying out environment situation analysis. Also, marketing plan will be drawn
involving two different segments in consumer markets.
TASK 1
1.1 Elements of marketing process
Marketing process involves different elements that helps in producing and selling wide
range of products and services in order to attract customers and enhance sales (Czinkota and
Ronkainen, 2012). Following are the different elements involved in marketing process are as
follows-
 Situational analysis- It the first step, where M&S manager is required to determine the
environment of firm in which the business operates. However, through performing such
type of analysis it is essential for firm to determine the wants and expectations of
customers so that best quality products can be delivered to them. Further, business is
required to undertake different efforts in order to provide best quality products to clients
and pleasing their requirements.
 Marketing tactic- In the next step, after identifying the different wants and requirements
of clients business needs to develop effective marketing strategy such as targeting,
segmenting and positioning the product in the minds of customers (Darian and Tucci,
2013). In regard to this, business is required to develop different efforts and thus produce
effective advertisement and promotional strategies so that desired results can be attained.
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M&S can adopt both electronic and print media method for promoting the product and
attain desired targets.
 Marketing mix decision- Manager of M&S needs to adopt different marketing decision
by adopting marketing mix elements i.e. product, price, place and promotion so that
products can be promoted effectively as compared to competitors.
 Implementation of decision- At the end, implementing the decision helps in attaining
desired goals within firm (Doyle and Bridgewater, 2012).
1.2 Benefits and costs of marketing orientation
Marketing orientation can be stated as the type of activity that helps in carrying out
effective research and development within M&S. With the help of this, management of firm is
able to determine the taste and preferences of customers so that desired products can be provided
to them.
 Benefits- It can be stated that marketing orientation has varied benefits as it helps firm to
determine the needs and wants of customers (Gök and Hacioglu, 2010). However, as per
the needs of customers business is required to provide the products and thus attain
satisfaction. Also, M&S needs to deliver utmost quality products so that competitive
positioning can be achieved in marketplace.
 Costs- It states that marketing orientation provides huge cost to the business as it is
essential for management to undertake proper research in order to provide products and
services to consumers (Hutt and Speh, 2012). Therefore, M&S is required to invest huge
capital in order to implement innovative technology and thus deliver utmost quality
products to customers. Furthermore, M&S faces situation of increasing employee attrition
rate and thus hiring new workers and providing them training in order to increase their
skills requires cost for company.
2.1 Macro and micro environmental factors
Following are the different macro and micro environmental analysis undertaken by M&S
in order to take effective marketing decisions which are as follows-
 Macro environmental factors- Macro factors affect the business from outside and thus
influence them to make effective marketing decisions. It consists of political, economic,
social, environmental, legal and technological etc. Change in political environment of UK
affects the operations of M&S such employment law, promotional campaign etc. Social
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