Marketing Principles of Vodafone | Report

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Added on 2020-02-14

Marketing Principles of Vodafone | Report

Added on 2020-02-14

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MARKETING PRINCIPLES 1

Marketing Principles of Vodafone | Report_1

Table of ContentsINTRODUCTION ...............................................................................................................................3TASK 1.................................................................................................................................................31.1....................................................................................................................................................31.2 ...................................................................................................................................................4Task 2....................................................................................................................................................52.1....................................................................................................................................................52.2....................................................................................................................................................62.3....................................................................................................................................................72.4....................................................................................................................................................72.5....................................................................................................................................................8TASK 3 ................................................................................................................................................83.1....................................................................................................................................................83.2....................................................................................................................................................93.3....................................................................................................................................................93.4..................................................................................................................................................103.5...................................................................................................................................................11CONCLUSION...................................................................................................................................11References..........................................................................................................................................122

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INTRODUCTION The term marketing principles refers to the range of processes that are related withascertaining the needs of customers and than developing products and services accordingly. Themarketing is important concept that includes range of activities in involved in transfer of productsfrom provider to the final customers (Hastings and Domegan, 2013). The marketing mix elementsinvolve, product,price, place, promotion. It also includes additional elements such as people,positioning and packaging. In this report, various aspect of marketing principles will be studied in the context ofVodafone. It is multinational telecommunication company, founded in 1991 and headquartered inLondon. The vision of Vodafone is to become the communication leader in an increasinglyconnected world. The learning be shown regarding the different elements of the marketing process.The explanation regard will ing how macro and micro environmental factors impact marketingdecision will be provided. Thereafter, how products can be developed to sustain competitiveadvantages will be explained. TASK 11.1The marketing process takes into consideration the different elements which are explained asfollows:Analysing the marketing opportunities: In order to assure successful marketing, theorganization has the opportunity to ascertain the present and future market trends. Inaddition to this, the entity is required to assure present availability of resources to supportdifferent marketing activities (Coduto, 2015). With the help of marketing research, Vodafonecan determine its own strength and weakness of the entity. On the basis of it, new productscan be designed to match different needs of customers. Selecting the target customers: It is a important step which enable the company to choosethe target customers for its different products and services. With the help of segmentation,the company can divide the market into smaller and distinctive parts based on differentaspects and choose the best one for its offerings (Lilien, Rangaswamy and De Bruyn, 2013).Developing the marketing strategy: It is the next step after the selection of targetcustomers. The marketing strategy consist of value proposal through which all the marketingobjectives are segregated into one comprehensive plan (Kotler, 2012). A good marketingstrategy will provide a general vision of accomplishing objectives and reaching the desired3

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position. It will also help in taking decision regarding, segmentation, targeting andpositioning etc.Marketing mix decision: The marketing mix is the blend of four 4ps of marketing, product,price,place and promotion. It is the tactical tool that is adopted to gain the attention ofmaximum customers and thereby boost the sales. The successful marketing mix also enablethe entity to render better value to its buyers and beat rivals (Hamid and Khan, 2015). Themarketing mix can be defined as process through which company decide what to produce,how much price must be charged. It further involve the way in which product will bedelivered to the customers and how entity will communicate its offerings to final buyers. Implementation and control: It is important aspect related to marketing process. With thehelp of this method, the management and employees of Vodafone can identify and measurewhether they had planned and performed diligently throughout manufacturing process so asto meet the customers requirement (McAuley, 2014). In case of any deviation betweenactual and expected objective, proper control must be exercised by the responsiblepersonnels. 1.2 The marketing orientation can be refereed as business model that emphasis on providingproducts and services developed as per the customer wants, needs and preference. It includesactivities such as market research to ascertain the important information related to customers. Thereare many advantages of marketing orientation (Chandrasekar, 2010). Such as, it leads to maximumcustomer satisfaction as products are designed considering their needs and wants. In addition to thisaspect, marketing orientation help in building customer loyalty. Further, effective marketingorientation can help the firm in boosting the sales of it offerings. Through, marketing orientation,Vodafone will be able to have customer centred approach (The impact of marketing orientation.2014). In addition to this aspect, there are several benefits as well as cost associated with marketingorientation. The detailed explanation of which is as follows:Benefits Customer satisfaction: From the study of Vodafone, it has been identified that companyhas adopted marketing oriented approach which enable the business to develop productsaccording to the needs and wants of customers. It is effective method that help inmaximizing the customers overall contentment level with the brand (Saxena, 2009).Customer loyalty: The marketing orientation is effective method through whichorganization increase its brand worth in the eyes of customers. This further results into4

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Marketing Principles of Vodafone | Report