Marketing Principles and Practice

MARKETING PRINCIPLES
AND PRACTICE
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TABLE OF CONTENTS
1. INTRODUCTION.......................................................................................................................3
2. MAIN BODY..............................................................................................................................3
a) Marketing concepts and terminologies....................................................................................3
b) Marketing strategies and programs.........................................................................................5
c) Marketing concepts and principles used for performing daily operations..............................6
3. POSTER......................................................................................................................................9
Cross functional relationships of marketing................................................................................9
4. CONCLUSION & RECOMMENDATION..............................................................................11
REFERENCES..............................................................................................................................12
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1. INTRODUCTION
Marketing concepts are the philosophies which are used in business in order to analyse
the requirements of the consumers and satisfy their demands. Marketing principles includes
prices, products, place and promotion; these are denoted as 4P which are basic principles of
marketing. These four elements are arranges in appropriate manner so that it can make the use of
the marketing strategy effectively. This report discusses the range of marketing concepts and
strategies in order to develop the understanding towards marketing approach. Airlines industry,
transports the passenger using air carriers. So this report carries the discussion on the British
Airways about their marketing strategies and concepts they follow to perform their operation and
gain the competitive advantage. British Airways is serving in the airline industry, founded in
1974. It headquarter is located at Waterside, Harmondsworth, UK, its parent company is
International Airlines Groups. British Airways never promotes itself that they provide cheapest
air carriers while they believe in serving better quality of services and facilities to their
consumers. Further this report carries the marketing mix, promotional strategies, product
strategies and branding of the company. It develops the insight knowledge about the working of
the businesses.
2. MAIN BODY
a) Marketing concepts and terminologies.
Product Strategy
Product is considered as main object for any company. Product is the thing which is
provided by the businesses to satisfy the needs of the consumers. Price, promotion, place comes
after the product and these things finalised after the product decided which should be given to the
buyer. In case of British Airways, they provide fights to the passengers for the transportation
form one place to other so it is the main product of the company (Grzegorczyk, 2017). British
Airways provide different categories of classes according to the budget of the passenger for
travel like business class, economy class, executive class, and club class.
In terms of selling the products, organisation applies different strategies
Core product: Core product is always that thing which is purchased by the consumer (Abratt
and Bendixen, 2018). Company provides the tickets of air carriers to consumer, which is
necessary for the customer to buy it in terms to travel from one location to other.
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Basic product: Company’s basic product is fights. British Airways has large number of fleets, it
provides transport from UK to maximum locations in the world. They maintain the schedule of
their flights which facilitates the customer to make their bookings according to the time and
availability (Armstrong and et.al., 2018). It is considered as the busiest network of the airlines at
global level.
Expected product by consumer: An expectation of the consumer varies according to their need.
So, company provides different products along with the flight like complementary foods,
beverages, onboard facility like allocation of seats, entrainment, etc.
Extra services: British Airways is known for its services, as they give the options to the
executive class to choose gold class, blue class and silver class according to their needs.
Promotional Strategy
There are different strategies followed by the company to promote their business.
Promotional mix used by the British Airways to influence the target segment (Bang, Joshi and
Singh, 2016). Promotional strategies of British Airways
Advertising- It is the paid form of promotion, advertising on the TV, print media, radio etc. It is
used for proper communication between brand and public.
Internet Marketing- Promoting the brand on internet, like social media, company websites,
blogs. So, internet helps to gain the publicity in public with cheap prices and easy to reach the
audience.
Direct Marketing- British Airways use to distribute the magazines related to flights and
company’s brochures directly in the airlines or via tourism and travel agencies.
Public Relations- Company develops better and positives relationships with the audiences
through the press meeting, or print articles (Deepak and Jeyakumar, 2019). It is necessary to
spread awareness about the business condition among the public, so they take support of media
and directly tell about their company in front of audience.
Selling Products- this approach supports to personal selling, British airways recruit temporary
staff for promoting their products and services. So it enhances the reach towards potential
buyers.
Direct Mails- Company sends mails or messages to the large group of potential customers and
existing consumers. It contains information about the products and services along with the prices
and discounts they offer with their products.
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