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Marketing Principles & Techniques- Doc

   

Added on  2021-02-19

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MARKETINGPRINCIPLES ANDTECHNIQUES

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1. Description of Marketing Functions....................................................................................11.2. Market Segmentation...........................................................................................................21.3. Marketing Mix.....................................................................................................................3TASK 2............................................................................................................................................42.1. Aim of Research...................................................................................................................42.2. Market Research Methods....................................................................................................42.3. Market Analysis Tools and Techniques...............................................................................7TASK 3............................................................................................................................................84.1. Methods of E-Marketing......................................................................................................84.2. How Biscuiteers could manage online image......................................................................8TASK 4............................................................................................................................................93.1. External Market Analysis.....................................................................................................93.2. Interpretation of Findings...................................................................................................103.3. Presentation of Findings.....................................................................................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16

INTRODUCTIONMarketing refers to an activity which is associated with communicating a company'sservices and products within the marketplace. Agenda of marketing is to develop a positiveperception of these offerings and thus, it is highly crucial for a company to manage the sameeffectively. The report below is based on principles and practices of marketing and for the sameBiscuiteers has been chosen as an organisation, which is one of the most effective small familyrun businesses in London, UK. The firm has a great product of “iced biscuits”, as the biscuits arebaked for long term used and provide effective taste and refreshment due to being cold and yetthe firm is struggling to market the product effectively (The best family-owned businesses in theUK, 2019). The company has effective long and short term objectives. For the latter, thecompany wishes to enhance its market presence and as for the former, the firm wishes toenhance its profitability by the end of one year. The report includes an effective insight onmarketing, emphasising on activities under marketing, market segmentation as well as marketingmix. It also covers market research using several research methods and techniques. In addition,the report also focuses on internal and external analysis along with focus on E-marketing andmanaging online image effectively.TASK 11.1. Description of Marketing FunctionsFor an organisation, marketing is a very effective operation which is carried out in orderto present one's products and services to the customers. Moreover, there are several marketingfunctions which are carried out by an organisation's marketing department. Some of these aredescribed below:Market Research: One of the major functions of marketing department in an organisationis to research the overall market. This is necessary in order to analyse the trends andcustomer preferences, which allows companies like TESCO to produce products that fillthe gap in the market and fulfil customer's needs effectively (Wright and et. al., 2015).Product Development: Another activity which is performed by marketing department isdevelopment of a product. This department within Volkswagen indulges in analysis ofthe market, which allows them to gain insight on several trends which are prevailing in1

the market This, in turn, helps the company in developing those products which wouldactually be accepted within the market.Analysis of Target Market: Another effective marketing function performed by themarketing department of M&S, is that that assessment of market allows a firm to identifythe target customers of a company on which, the organisation could channelise itsmarketing strategies and get maximum returns.Promotions: Marketing department of The Ledbury aids an organisation to promote itsofferings in the market. This further helps in enhancing the familiarity of the company'products and increases the scope of preference within the market.1.2. Market SegmentationMarket Segmentation refers to an effective tool or approach, which is used byorganisations to identify their target market. It is crucial for an organisation to determine theirtarget markets that could help them in integrating their marketing efforts appropriately andproduce and promote offerings that are required by their targeted segments. For this, the firm isrequired to analyse several market segments which are likely to be attracted by the business.Thus, for Biscuiteers, there are several marketing segments that are described below:Geographical: This segment divides the marketplace on the basis of geographicallocation. All the marketing strategies of firm depends on belongingness of the customers.For Biscuiteers, these are the customers from urban areas of the UK which would beeasier or the firm to reach to in order to market its iced biscuits.Demographical: These includes factors like age, occupation, income and otherdemographic factors on the basis of which the firm would be developing its products thatcould satisfy the demand of this segment. In context with Biscuiteers, the customerswould be general customers of the UK, with age group around 13-65 years, and incomelevel of more than £1,000. Reason for choosing these factors is that it would allow thefirm firm to narrow down the market and focus on marketing its iced biscuit on thesecustomers specifically.Behavioural: In this segment, the market is divided on the basis of behaviour andattitudes of customers. This is perhaps quite effective for a company as its product wouldbe developed keeping in mind the preference of buyers. For Biscuiteers, this segment will2

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