Marketing Principles & Practice: Assignment

Added on - Dec 2020

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Marketing Principles &Practice
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1...........................................................................................................................................1Factors affecting marketing processes or pestle analysis of marketing process........................1Marketing strategies for Softwire company................................................................................2TASK 2............................................................................................................................................3Micro and macro environment factors........................................................................................3TASK 3............................................................................................................................................5Evaluation of organisation's operations......................................................................................5CONCLUSION...............................................................................................................................6REFERENCES................................................................................................................................7.........................................................................................................................................................7
INTRODUCTIONMarketing refers to the process which is associated with buying and selling activities ofany product or service. It involves selling, advertising and providing products to customers.Marketing principles are the strategies broadly used by the the marketers for promotion of theirproduct (Allyson Dooley, Jones and Iverson, 2012). These principles optimises company'sexisting performance and assist in launching new products in the market. Softwire which is localcompany in UK provides software development services has been taken in this project. Factorsinfluencing marketing strategies are explained in this report. Further, different marketingstrategies , theories and models are also described.TASK 1Factors affecting marketing processes or pestle analysis of marketing processThere are different internal and external factors which affects marketing process. Todetermine all these factors companies use pestle analysis. PESTLE analysis is a method used todetermine external factors in the marketing process of Softwire company. This analysis helps inidentifying threats and weaknesses and provide measures to overcome them.Political factors:-Political factors assist in identifying how different decisions made bygovernment such as trade policies, tax policies, etc. impact economy and business in Softwirecompany. Generally, political factors have an influence on the marketing processes used by thecompany to run their business. As a marketer viewpoint the company have to organize andbalance their marketing schemes accordant to government postulates.Economic factors:-Economic factors involves business growth, unemployment level.Inflation, employment level, trading services or goods, etc. In context to Softwire company allthese affects largely and determine how the organisation flourishes, with success and expandeconomically. Economic factors are different in every country and are according to theirfinancial situation.Social factors:-Social factors refers to all those components which play a vital role insociety and community (Dana, 2014). These factors cover different areas – health, safety,population growth, education, social class, religion, etc. In context to Softwire these factors havelarge influence on its businesses and performance. From the point of view of marketer the1
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