Marketing Principles - Task 4

This presentation discusses the marketing mix for different consumer market segments, the differences between marketing to organizations and consumers, and the marketing strategy for Cornflower Blue in an international market.

Marketing Principles
Task 4

Continued..
 Company have to use these two types : Geographic and
demographic.
 In Geographic , it divides markets according to geographic
are. Market can be divided as broadly as landmass and as
community or postal codes. Which consists
country,region,population,city-town and climate.
 In demographic segmentation, this is based on customer-
demographic variables like age,income,family size,socio-
economic status etc.

4.1 Plan for the mix for two different consumer
market segments
 Cornflower Blue Company is making a product for two
different segments on the basis of demographic segmentation.
 It mainly targets two different segments, that is, old and
younger people.
 Marketing mix for two different consumer market segments
are as follows:

Continued..
 Company have to use these two types : Geographic and
demographic.
 In Geographic , it divides markets according to geographic are.
Market can be divided as broadly as landmass and as community
or postal codes. Which consists country,region,population,city-
town and climate.
 In demographic segmentation, this is based on customer-
demographic variables like age,income,family size,socio-
economic status etc.
 Two mix plan for different customer using these above
segmentations, The first is based on area to provide products and
services.
 Second is based on customer age,income,size of family.

Contd....
Basis Young people Older people
Price
Young people are moreconscious related to theirhealth. They like to buy aproduct of high range.Cornflower Blue companyneeds keep price of producthigh for young people.
Older people want naturaland healthy products andthey cannot afford highlypriced product. So,Cornflower Blue companyneeds to keep reasonableprice for them.
Product
Product made for thissegment are tasty andhealthy. Product made for olderpeople are natural andhealthy.

Contd....
Basis Young people Older people
Place It can sell its products atretail shop and insupermarket formyounger people.
It can sell product onlineor a retail shop wheretransport facility isavailable so that olderpeople can easily reachthere.
Promotion Promotion can be doneon social networkingsites because youngpeople mostly use thesesites.
Promotion can be donethrough newspaper andtelevision for targetingolder people.

4.2 Way in which marketing of products and/or services to
organisations is different from marketing to consumers
 It is important to do marketing and promotion of products and
services for enhancing profitability of the firm. In terms of this,
company may use different transactions to sell the goods and
services.
 Two examples of this are like sale products through business to
business transactions and business to customer transactions. In
both transactions; company has to use different marketing
strategies to sell the products and services.
 In business to business, company is not directly in contact with
customers. In this, company does not use different types of
marketing strategies to attract consumers. Here, firm does not sell
products and services in retail as it sells in bulk to gain high profit
as well as advertising cost is also lower here as compared to retail
companies.

Contd....
 Another example of business to customer transaction is
where company directly interacts with consumers and sell
products and services to them.
 In this type of business, company needs to use more number
of advertising and promotional activities to make people
aware in comparison to previous business.
 When company is selling products as per B2C transactions
then profit level decreases as compared to selling in bulk.

4.3 Marketing strategy for “Cornflower Blue” if management
decided to begin operating in an international market
 It is necessary to do effectually marketing of products and services
whether company is operating at national level or international level.
 In the present case, Cornflower Blue is a national company and wants to
expand at international level. For this, company has to expand in
Malaysia which is a developing nation.
 When firm goes for another market then marketing and promoting
activities also get changed along with marketing mix. As per the
marketing mix, products may be same but promotional activities, prices
and place of distribution gets changed as well as population of different
country has different tastes and preferences.
 Marketing mix element is the mode to promote products which plays an
integral or significant role to attract more number of consumers which
lead to increase the profit level.

Contd....
 For example: in the UK, currently, Cornflower Blue Company is using
social media to promote products. Malaysia is a developing nation and
UK is a developed country so in Malaysian market, people are using
internet more as compared to existing target markets.
 Hence, it should use other marketing activities to enhance the awareness
among population. So, it can be said that marketing mix plays a
significant role in order to achieve the objectives and grow company in
international market.

Contd....
 There are different number of the strategies which can be used by the
Cornflower Blue company for entering in Malaysia market from the UK
market are given as below:
 Direct exporting the body care and other products.
 Joint venture with existing companies of Malaysia which relies under
same industry.
 Franchising
 Licensing
 Foreign direct investment etc.

Contd....
For doing the marketing of its products and services in the Malaysia market
from UK market then various kinds of marketing strategies can be used
by Cornflower Blue firm are such as follows:
 Social media marketing
 Internet marketing
 Articles
 Pricing strategies etc.

Changes in Marketing Mix (A P's)
When the Cornflower Blue company will enter in new market like Malaysia from the
UK market then it has to make changes in existing marketing mix which are
used in previous case. Moreover, all the elements of marketing mix along with
changes are such as follows:
Product:
 The Cornflower Blue firm needs to provide the modified products along with
high quality as well as low prices in the new market while shifting from the
UK market.
 The reason for making this strategy is that on the at the lower price and higher
quality more number of customers will be attract.
 As the product quality and innovations are higher, then people of Malaysian
market will take interest towards Cornflower Blue firm for purchasing its
beauty and food items. However, in the UK market, customers are not
concerned with the price aspect where in every case standard of the food items
is of the highest.

CONTD....
Price:
 Due to developing country, financial resources are less in the Malaysia
economy as compare to UK market and because of such reason the
Cornflower Blue firm has to cut down prices of its goods and services.
 People of the Malaysian economy cannot afford high prices of products and
services. On the other hand side, due to developed country, the population
of UK able to afford any price range of the goods provided by Cornflower
Blue company.
 Due to this particular reason the cited business entity make changes in the
pricing policy and offer products at low price in the Malaysian market.

CONTD....
Place:
 The place is considered at where Cornflower firm will sale its goods and
services in Malaysia market while exiting from the UK market.
 Previously the firm majority focus on online shops and portals but while it
enters in Malaysia market then it has to focus and sales its products and
services through both online and offline.
 In the online it uses internet and for offline physical shops will be preferred
by the firm.
 In the UK market it was used online place at the majority level but in the
Malaysia less number of people use internet.
 Further, in the new market i.e. Malaysia the Cornflower Company has to use
physical stores also along with the online.

CONT...
Promotion:
 The Malaysia country is developing while UK is the developed economy and
due to which there are level of competition is lower.
 Further, the Cornflower Blue entity needs to make changes in the
promotional activities of its products and services.
 But as compare to the UK market requirements of advertising and
promotional activities will be lower.
 In the UK market, most of the people using social media and internet while
in the Malaysian market local community taking less interest in such
methods.
 Moreover, Cornflower Blue firm needs to use radio, newspaper, articles etc.
traditional method for promoting its food and beauty goods in the Malaysian
market.

REFERENCES
Graham, A. and Adams, J., 2014. Alcohol marketing in televised English
professional football: a frequency analysis. Alcohol and Alcoholism. 49(3).
pp.343-3480.
Wisner, J. D., Tan, K. C. and Leong, G. K., 2014. Principles of supply chain
management: a balanced approach. Cengage Learning.
Lupton, D., 2015. Health promotion in the digital era: A critical commentary.
Health Promotion International. 30(1). pp.174-183.

Thank You!!