Marketing Process Assignment Help
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Added on 2019-12-03
Marketing Process Assignment Help
Added on 2019-12-03
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Explaining elements of marketing process.......................................................................11.2 Evaluation of benefits and costs of a marketing orientation............................................22.1 Analyzing macro and micro factors influencing marketing decisions.............................32.2 Proposing segmentation criteria used for products in different markets..........................52.3 Choosing a target strategy for given product...................................................................72.4 Demonstrating buyer behavior affecting marketing activities.........................................72.5 Proposing new positioning strategy for the product.........................................................83.1Products development to sustain competitive advantage..................................................83.2 Distribution strategy for consumer convenience............................................................103.3 Selecting the pricing tactic as per the marketing condition............................................103.4 Attaining marketing objective through promotional activity.........................................113.5 Extended marketing mix.................................................................................................11TASK 2..........................................................................................................................................114.1 Recommending marketing mix for two different segment in consumer market............114.2 Comparison between B2B and B2C...............................................................................124.3 Difference between domestic and international marketing............................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................15
INTRODUCTIONMarketing helps the businesses in enhancing the sales within the market by promotingproducts and services in order to create wide level of recognition for it. Globalization has createda definite impact on the growth prospects of enterprises by expanding the reach of business andattracting new consumers for maximizing the revenue of the company (Breton and Martín,2011). Present report creates an in-depth analysis of various marketing principles of Marks andSpencer in order to analyze its competitive position and implement various tools and techniquesfor enhancing organizational growth. The study will create a detailed industry analysis anddevelop marketing measures and campaigns to enhance the popularity of products of M&S in themarket globally. TASK 11.1 Elements of marketing processAccording to Dibb and Carrigan (2013) marketing is a social process which createsmarket demand and attain the same by developing or exchanging the products of value withothers. The concept of marketing is to generate market sales by creating value for productswithin the economy. Marks and Spencer has developed a well-managed market position withinthe market by creating valuable and quality products and services to its consumers (Chaharbaghiand Lynch, 2010). The company has developed a high street market position which has helped itin establishing its global brand image. Various elements of marketing process for Marks and Spencer are as follows:Situation analysis: This is one of the most crucial factor for analyzing the effectiveness fthe company and developing effective impact on the overall growth and development.Marks and Spencer examine the present situation for the economy and then evaluate theinternal and external business environment in order to evaluate the gap between wherethe company presently is and where it wants to be. Marketing audit: This involves the systematic, critical and impartial reviews of overallmarketing operations of the company. This element of marketing process analyses theoverall impact of the company on demand generation within the economy. Marketingaudit seeks effective policies and procedures for the company to determine effctivesolution to the set problem. 1
Developing Plan: After the market audit the company focuses on developing an effectiveplan to analyze the marketing needs and implement effective measures for the same(Dziri, 2013). M&S develops the plan to overcome the challenges faced by the companywithin the market and create effective impact of the same on the overall growth of theorganization. Marketing strategy: This is a conceptual and crucial part of marketing process. Thecompany analyses the trends and demand within the market and develop marketingstrategies which has the capacity to attract maximum consumers for the company(Element of marketing process, 2015.). Implementation and control: The most crucial element of marketing strategy is effectiveimplementation and control of the process. The proper evaluation of the process helps inanalyzing the factors which may restrict the growth of company thus company keeps aproper check on the overall implementation of the process. Explaining the various elements of the marketing2
1.2 Benefits and costs of a marketing orientationMarket orientation is the culture where companies has a core focus on meeting consumerneeds by developing products and services as per the demands and customizing them to attaininghigh level of consumer satisfaction. This process is generates high demand for the companieshowever the cost is enhanced at the same time. This concept helps in creating an effective impacton developing organization for enhancing its market value and generating effective sale. The marketing orientation is an effective concept high has helped the companies indeveloping competitive image within the market. Marks and Spencer has adopted this measuresin order to gain high consumer loyalty and competitive edge within the market (Garoufallou andet.al., 2013). The process and research measures of the company helps in meeting consumerneeds and demand efficiently. Moreover this measures has helped the company in developingconsumer retention as well. Constant improvement of products and services has helped thecompany in enhancing product range and quality as well. This measures helped in winningconsumer trust thus creating competitive edge within the market. Product orientation is highly focused measures which demands high investment by thecompany in terms of time and cost. Strong marketing research and powerful market intelligenceto respond accurately to the needs demands high investments for Marks and Spencer. This is aneffective measure for global growth and development however this concept restricts productdifferentiation as major time of the company is spent in developing interaction andcommunication with consumers (Kalafatis, 2002). Moreover, retail segment have to face the riskof immediate change in trends and demands due to intense market concept. Thus, this is yetanother factor which causes effective cost to the company 2.1 Macro and micro factors influencing marketing decisionsMicro and macro factor analysis of the company is one of the crucial factor which helpsin developing an effective impact on the growth and development of the organization. The microand macro factor analysis of the company can be carried out as follows:3
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