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marketing principles and technique assignment sample

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Added on  2021-01-02

marketing principles and technique assignment sample

   Added on 2021-01-02

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Marketing Principles andTechniques
marketing principles and technique assignment sample_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Marketing concept and activities conducted by department.................................................11.2 Market segmentation.............................................................................................................11.3 Marketing mix.......................................................................................................................2TASK 2............................................................................................................................................32.1 Aims of research and market analysis...................................................................................32.2 Market research methods......................................................................................................32.3 Market analysis tools and techniques....................................................................................4TASK 3............................................................................................................................................44.1 Methods used to e-market products and services..................................................................44.2 Manage online image of organisation...................................................................................5TASK 4............................................................................................................................................53.1 Market analysis techniques to research target market...........................................................53.2 Findings of market research and analysis.............................................................................63.3 Findings to marketing team...................................................................................................6CONCLUSION................................................................................................................................6REFERENCES ...............................................................................................................................8
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INTRODUCTIONMarketing principles and techniques define that every organisation managementresponsibility is to establish good position and image in market. It is essential that appropriatepromotion techniques are used by entrepreneur to inform people about needs and wants; therebyinfluence and persuade consumers to purchase things in according to their needs and wants(Graber And et. al., 2016). Present report is based on Cissy Wears which is small retail storeestablished in London. This shop has two outlets, one which offers child apparels and anotherhave jewellery, toiletries and home ware for youth. This assignment comprise information aboutmarketing, its mix and segmentation to identify customer. Market research is tool used byadministration to acknowledge tools and techniques used by company to anticipate taste andpreferences of people and competitors products. Along this, E-marketing methods used bymanagement to construct online image; thereby attract customers.TASK 11.1 Marketing concept and activities conducted by departmentMarketing is tactic which includes activities executed by management to attractcustomers by informing them about items and services. Organisation comprises differentsegments such as human resource, finance, operation, marketing, sales, IT, research anddevelopment. These are units which are constituted by Cissy Wears to organise businessactivities and use appropriate tools and techniques which help entrepreneur deliver adequateproducts to customers. This is a small firm so it is necessary that administration uses funds andhave adequate resources to accomplish goals and targets within defined time (Batini andScannapieco, 2016). Marketing department duties include constructing plan which comprises informationabout marketing mix that is product, price, place, promotion, people, process and physicalevidence. Along this, they even need to frame budget and use appropriate pricing andpromotional strategies. 1.2 Market segmentationDemographic, geographic, psycho graphic and behavioural are various segmentationtactics that organisation uses to provide items in according to taste and preference of people.1
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Cissy Wears is small clothing firm, so it is necessary that entrepreneur provide products inaccording to market conditions and in respect to customers age groups and requirements. STPtactic is used by management to grab attention of people by giving items in according to theirneeds and demands. This is description of Cissy Wears to segment, target and positioncustomers is stated below:Segmentation: This concept define that population in divided into small segments that isheterogeneous people are segregated and converted into homogeneous group which hassimilar demands, taste and preferences. Cissy Wears provide items in according to age,gender, income and other aspects. This helps management to attract customers and makethem purchase things in according to their needs and wants (von der Heidt, 2015). Targeting: This tactic specifies that organisation need to provide products in respect todemands of people. Cissy Wears target child and adult which help businessperson to haveadequate customer base. Positioning: This is last step which defines that promotional techniques are used bymanagement of Cissy Wears to grab attention of people by providing them informationabout items, its features and other essential attributes. In addition to this, various kinds of segmentation are explained below:Geographical: It is perhaps considered as one of the common market segmentation basedon which areas are divided needs and wants of people are given much preferences. For example:London is cold place so according to the climatic condition Cissy wears can target winter wearsin order to improve their sales and profitability. Demographic: This is segmented on the basis of age, gender, income, family size etc.,there is a possibility that some brands majorly focus on women and some on men. Cissy wear, ismanufacturing clothes by considering all categories, whether old aged person, young, males orfemale. 1.3 Marketing mixMarketing mix is determined as the foundation of marketing and it consist of marketingtools through which firm can develop objectives so that it can be achieved in speculated timeframe. Further it can be classified into 4Ps or 7Ps. Namely: products, price, promotion and place.2
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TASK 22.1 Aims of research and market analysisResearch is defined as activity executed by management to have complete and accurateinformation about market conditions. It is essential that businessperson construct objectives andpurpose which are used by them to design system and conduct business activities in effectivemanner. This benefits entrepreneur to identify customers and their demands to manufacture itemsaccording to taste and preference of people. Market analysis: This tactic defines that small business firms require to utilise resourcesand make system function in according to market conditions. It is necessary that management hascomplete information about needs and wants of customers, competitors and industry. This helpbusinessperson to assess market size, select appropriate target. Market trends and competitiveanalysis techniques used by Cissy Wears to design items and services in according to customers(Eagle, Hamann and Low, 2016). 2.2 Market research methodsResearcher has various tools and techniques to acknowledge needs and wants of people todesign system and implement appropriate technologies; thereby provide items and services inrespect to taste and preference of customers. These are various research methods that are used bymanagement of Cissy Wears are stated below:Primary methods: Observation, interviews, survey and field trials are various techniquesused by superior to identify current market trends and competitors offerings. This helpmanagement to produce stylish clothes and different varieties in respect to target customers.Observation: It is determined as one of the most common methods for collecting data,and it is done in natural settings. This can be conducted without participant's concern. So, it isconsidered as one of the best methods because outcomes are true and unbiased. Interviews: While conducting this method researcher has to go to every individual whomthey want to interview. This is quite expensive as compared to other primary data collectionmethod. Questionnaire: It is considered as one of the most common methods of data collectionand they are less time and cost consuming. This is used by most of the researcher becauseresponses can be collected very easily. 3
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Secondary methods: This is another tool which helps businessperson to use publisheddata to acknowledge past information about sales and profit. Journals, magazines and newspaperare various techniques used by Cissy Wears to have complete data in respect to customer baseand market position ( Panwar and et. al., 2015). In relations to secondary methods Cissy Wears will conduct SWOT analysis throughwhich they will get to knew about their internal strengths and weaknesses. Whereas PESTLEwill provide information related to external environments that are creating problem in businessoperations. 2.3 Market analysis tools and techniquesResearcher uses various approaches and methods to acknowledge conditions that areprevailing in market to design system and make it function in according to needs and wants ofpeople. These are various tools and techniques used by management of Cissy Wears are asfollows:PEST analysis: This tactic helps entrepreneur to have complete information aboutgovernment laws, economic aspects, society requirements and technological thingsimpacts on business. Businessperson will have complete knowledge about external macrofactors which are used to design system accordingly.SWOT analysis: This technique is effective which help entrepreneur to acknowledgesystem abilities and market conditions. Cissy Wears need to enhance share and positionby utilising market opportunities with help of strengths present in system; thereby protectfirm from threats and weaknesses. Forecasting: This tool defines that market research is executed by management toidentify needs and wants of people. Cissy Wears provide trendy clothes and products toattract customers and make them purchase adequate things (Bach and Alnajar, 2016). TASK 34.1 Methods used to e-market products and servicesElectronic-marketing is process which is executed by marketing department to attractcustomers by informing them about items and services. This technique helps organisation toincrease customer base and market reach with use of internet. Cissy Wears is small family firmwhich has single outlet established in London. Hence, e-marketing is effective tools which helps4
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