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Marketing Principles & Techniques

   

Added on  2020-10-22

9 Pages2785 Words429 Views
Marketing Principles& Techniques

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Concept of marketing............................................................................................................11.2 Market segmentation.............................................................................................................21.3 Marketing mix.......................................................................................................................2TASK 2............................................................................................................................................32.1 Aims of market research and analysis...................................................................................32.2 Methods of market research..................................................................................................32.3 Outline market analysis tools and techniques.......................................................................4TASK 3............................................................................................................................................53.1 Methods used to e-market products and services..................................................................53.2 How companies manage their online image.........................................................................5TASK 4............................................................................................................................................64.1 Market analysis techniques...................................................................................................64.2 Interpret findings...................................................................................................................64.3 Present findings into marketing teams..................................................................................6CONCLUSION ...............................................................................................................................6REFERENCES................................................................................................................................8

INTRODUCTIONThe main marketing principles involves attaining customers, targeting market, growingnetwork and building relationships; all supports a firm to attain and retain customers for longterm period (do Amaral, 2013). In this case study, Whole food market is the chosen organisationwhich has 11 different varieties of food venues, such as – oven baked pizza, a juice bar, a dimsum etc. that is prepared by under consideration of 40 chefs. Apart from this, the report will bedescribed various activities that are carried out by marketing department. A market research willbe done so as to accomplish firm's goals and objectives. TASK 11.1 Concept of marketingMarketing is critical to build up a successful business which takes it to next level.Marketing plays a vital role in growth and success of every business association; it helpscustomers' to get know about products and services. Marketing department of the companyperform different activities so as to attract numerous customers in a certain time period.Following is defined marketing activities, such as - Product selection – A retailing business like – Whole food market ideally listens to itstarget audiences and their needs before creating any product or service. Companiesanalyse buying trends, assess competitors' product, conduct market research etc. to learnwhat are the desires of customers (Dooley, Jones and Iverson, 2014.). For instance – thefood company is increasing its frozen offerings because time squeezed people prefersmore quick and fixed options. Promotional activities – There are several promotional methods are acquired by firms todistribute their products at marketplace. In this modern era, different promotionalchannels, like – social media tools, internet banking, mobile apps so as to reach largegroup of customers in a less time period. Pricing activities – Implementation of pricing policy of the firm is essential to recognisecompetitors' prices, market of each commodity and then decide what price the marketwill accept. This calculation supports to decide prices of the product on which they willbe sold in market. 1

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