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Marketing Strategy of Organisation : Report

   

Added on  2020-07-23

15 Pages4759 Words46 Views
Marketing Report

Table of ContentsINTRODUCTION...........................................................................................................................1RECOMMENDATIONS.................................................................................................................1Current strategy of marketing.................................................................................................1Various concepts of consumer psychology............................................................................4Current researches in marketing field.....................................................................................5Segmentation, targeting and positioning................................................................................8Formation and execution of marketing strategies..................................................................9REFERENCES..............................................................................................................................10.......................................................................................................................................................11

INTRODUCTIONConsumer psychology is related to the study of individual as well as differentgroups regarding behaviour of customers towards use of goods and thinking aboutvarious products of a company (Palmer, 2012). Buyers are considered as one of themost important stakeholders for an organisation as by purchasing goods fromenterprise, they increase their profit. PACK'D is a start up in London which sells world'sfirst frozen Smoothie Kits. They are offering 100% natural products and customers canbuy goods from this company through online mode also. The purpose of this report is tounderstand and improve marketing strategy of this organisation so that they canachieve their long term goals. It will also discuss consumer psychology framework andvarious stages of customer experience. RECOMMENDATIONSCurrent strategy of marketingPACK'D is a start-up so, initial period is the most challenging for them. Thisorganisation is marketing their products by using special feature of their commoditiesi.e. healthy drink which can be made in a minute (Peter and Donnelly, 2011). There areselling frozen smoothie kits. It is a new concept and it has potential to attain hugemarket share by replacing unhealthy cold drinks. According to marketing mix, there areseven areas where every company should focus for forming tactics relating tomarketing. Below is the marketing strategy adopted by PACK'D with appropriaterecommendations for them:Product – There is no doubt that this organisation is selling unique products andthey are spending a huge amount of developing quality commodities. Their product isgiving the initial publicity and it has ability to provide them extra edge over theircompetitors. For a new organisation, selling fine quality is important for surviving in themarket and this company is doing this work in an impressive way but there are someareas where they need to pay attention. First of all, they have to introduce new productsin regular interval of time so that they can continuously increase number of theircustomers and enhance portfolio of offerings. They should also mention the keydifference between their products and similar items (Chaffey and Ellis-Chadwick, 2016).1

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