Marketing Principles & Practice: Key Concepts, Strategies, and Cross-Functional Relationships

MARKETING
PRINCIPLES &
PRACTICE

Table of Contents
INTRODUCTION...........................................................................................................................3
Explain key marketing concepts and terminology ................................................................3
Explain the marketing concepts and principles .....................................................................5
Identify the marketing strategies and programs that helped achieve their objectives. Were
these objectives achieved in an ethical manner?....................................................................7
Identify and discuss the cross-functional relationship of marketing and other departments. 8
CONCLUSION-..............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing Principles and Practices helps in studying the fundamental marketing concepts at
work in today's business environment. Discuss marketing language, retailing, wholesaling,
promotion, and advertising functions examine their interplay and timing; and learn how they
propel a business. British Airways (BA) is the flag carrier airline of the United Kingdom,
headquartered at Waterside, Harmondsworth, near its main hub at London Heathrow Airport. It
is the second largest airline in the United Kingdom, based on fleet size and passengers carried,
behind easyJet. In January 2011 BA merged with Iberia, creating the International Airlines
Group(IAG), a holding companyregistered in Madrid, Spain. IAG is the world's third-largest
airline group in terms of annual revenue and the second-largest in Europe. It is listed on
the London Stock Exchange and in the FTSE 100 Index. British Airways is the first passenger
airline to have generated more than $1 billion on a single air route in a year (from 1 April 2017,
to 31 March 2018, on the New York JFK - London. This report covers issues such as concepts of
marketing and its terminology, the marketing concept and its principles, strategies of marketing
which has helped the company to achieve their objectives and the cross functional relationship of
marketing department with other department.
Explain key marketing concepts and terminology
Product strategy-
This concept helps the company to hold their consumers by offering them high quality
goods and services with providing them the features which are innovative for them. The
company is focusing on improving the products on a continuous basis. Quality of the product and
making improvement in them according to the requirements as it is important for them to cope
up with the strategies and implement them in a presenting manner. For instance if the company
people want to travel in Boeing 747 but they cannot because of the higher rates then company
will introduce a economic section for the people so that they can afford it. British airways
compete with many international airlines and that is why it is necessary for the company to
position their brand well in the eyes of target audience. Apart from this to maintain the flow of
operations in a smooth manner they conduct the analysis of macro environment and all the
factors under it so that they can cope up with the changing trends in the market. With that they
will also get to know that in which countries they have demand, technologies that they need to

change and implement in their planes. Economy of the country will help the company to make
the budget of the company in an appropriate manner. (Sun, Garrett and Kim, 2016.)
Branding Strategy-
The company values their employees just like they value their customers. The if they
maintain good relations with the employees then they will automatically increase the reach of the
brand. It helps the company to formulate the values and the culture they have. Company sticks to
the goals and provide them with the same kind of quality service so that they can maintain the
consistency and does not affect the image of the brand. To improve the consistency the company
has created the guidelines for branding. Another strategy for branding which the company uses is
making connections through emotions. They have founded a way which helps them to connect
with them so that they can easily enhance it and sustain it for a very long period of time. The
purpose of the company is increasing the competitive advantage and improve the quality of their
services so that they can increase their revenues which will help them to beat other companies
and grab more share in market. (Camilleri, 2018.)
Promotion Strategy-
Company use content marketing so that they can grab the attention of more customers
which will help them to increase the share in the market. It is considered as one of the best tools
which gives satisfactory results. The main reason behind the success of this strategy is that they
share their content of attributes with the audience they have targeted. It is a part of digital
marketing that is why its reach is also bigger and help the company to increase the awareness.
For instance British Airways wants to increase the sales so they will share the points to the
audience in which they are ahead of their competitors such as safety, features in the flights,
services in the flights offered and the affordable pricing as compared to others with providing
them the facility of allowing more baggage in the flight. They provide refund to the customers if
they had to go through any kind of difficulties at the time of travel. It is similar to the strategy of
money back as it will influence the customers to book their tickets because they have the
assurety if anything goes wrong then they will get their amount fully refunded. To hold the
customers who are loyal to the company they provide them with the facility of rebate. It is done
at the time of peak season as the purchase quantity at that time is high so they provide some of
them with this facility.