Principles of Marketing: Target Market, Product, Price, Place, and Promotion

This report explores the principles of marketing, focusing on target market, product, price, place, and promotion. It analyzes the marketing mix of Haagen-Dazs and Ben & Jerry's ice-cream companies.

Principles of Marketing
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Table of Contents
Executive summary..........................................................................................................................3
Books and Journals.....................................................................................................................3
INTRODUCTION...........................................................................................................................4
Target Market .............................................................................................................................4
Product .......................................................................................................................................5
Price.............................................................................................................................................6
Place............................................................................................................................................6
Promotion....................................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................9
Books and Journals.....................................................................................................................9
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Executive summary
This report shows marketing principles which includes various kind of marketing factor
such as price, product, place as well as promotion. Marketing mix is one of the superior approach
for company in order to target its customer towards products and services. Beside form this, the
manager adopt marketing principle for making effective strategies, plan and policy for operate its
business in successful manner. The main objective of marketing mix is to deliver goods and
services within given time period. Beside from this, there are two kinds of business organisation
such as Haagen-Dazs and Ben & Jerry's both the companies which deal in ice-creams with
different and innovative flavours for satisfying the need and wants of individual person at high
level.
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INTRODUCTION
Marketing mix is described as a process in which various strategies and plan of actions
which is made by firm for promoting their products and services in the marketplace. In
marketing mix, there are 4P'S included such as price, product, place as well as promotion. All
these factors which is adopted by organisation for achieving goal and objective in the
marketplace (Bernstein, 2017). There are two business organisation which is chosen in this
report, the one is Ben and Jerry's that is an American ice-cream company which deal in frozen
dairy products and sorbet located in U.S in the year 1978. On the other hand, Haagen-Dazs is
popular ice-cream company of America founded by Rose Mattus in the year 1961. Moreover, the
marketing plan and marketing mix of both company which will described.
Target Market
Target market is considered as process in which business organisation target its customer
for accomplishing goal and objective in an effective manner. This market provides high quality
products and services to its customer in order to satisfy them. This term included segmentation,
targeting as well as positioning that help in segmenting whole market according to the need of
consumer. For the success of any company it is essential to target its customer before taking
decision regarding marketing of products and services. Therefore, STP model assists company to
gain more and more revenue in less time period.
In reference of Haagen-Dazs ice-cream, it has been analysed that it is an American brand
which deal with variety of flavoured ice-creams as well as maintain the whole quality of its
products. In addition to this, they use different promotional tool such as advertising, sales
promotion, publicity, events and many more for targeting large number of customer at large
level. This company provides superior quality ice-creams to its customer in order to satisfy them.
It helps in building good brand image as well as reputation within market. In addition to this, the
company use different promotion tool but online advertising is paid method of non personal
presentation of idea, goods and services by an identified sponsor. It attract large number of
customer in different area as well as help in boosting profitability level. Therefore, the company
achieve its target within stipulated period of time.
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In context of Ben & Jerry's, is an ice-cream company which mainly focuses on Japanese
customer of different age because it is depend on their convincing quality whether customer
purchase their products from large supermarket or store. In this report, it has been examined that
this company sales their ice-creams to huge number of customer in Japanese market. Thus, the
main purpose of this company is to attract large number of buyer from japan in order to being
successful in the market. There are various promotional tool adopted by company such as
advertising, sales promotion, publicity and many more that helps in boosting sales within
marketplace. In addition to this, it helps company to accomplish their goal and objective in less
time period.
According to the above mentioned information it has been analysed that both company
adopt different method for retaining for longer time period within market. Moreover, it will
boosting future sales as well as profitability level.
Product
Levitt's Model is the best method to determine whole products and services in effective
manner. It helps in defining various kinds of packaging, shape, size, colour which is going to be
discussed below:
Levitt's Model involves different level in respect of products which is given below:
Core need: As per Haagen-Dazs ice-cream company which focuses on providing
different flavoured ice-cream to its customer. In this basic stage, they offer various benefits to its
user in order to supply them according to the need and wants of individual person. On the basis
of this, they offer family pack, cone as well as different innovative products in order to satisfy
them.
In context of Ben and Jerry's, they offer flavoured ice-cream as well as frozen dairy
products to its customer for satisfying their need and wants.
Actual Product: In this stage, the actual brand of products is shown. According to
Haagen-Dazs ice-cream company they are producing effectual flavoured ice-cream. On the other
hand, Ben and Jerry's focuses on producing ice-cream which is made in home that displays
reality.
Expected Product: Herein, both companies focuses on satisfying the expectation and
requirement of customer in appropriate way. They offer variety of ice-cream which have
different shape, size, colour and taste.
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Augmented Product: In this level, both the company offer free sample, discounts,
vouchers to attract large number of customer. They provide tasty ice-cream to its buyer for
accomplishing goal and objective.
Potential Product: Hereby, both firm providing various flavoured ice-creams to its
customer which is the potential product of company. This helps in boosting future sales and
growth of company (Palmatier and Crecelius, 2019).
Therefore, it has been examined that both companies use this model so that they can
retain in market for longer period of time in order to satisfy customer need and wants. They bring
new and innovative ideas for accomplishing goal and objective.
Price
Haggen-Dazs ice-cream: It is well known firm of ice-cream as they have ideas and
knowledge regarding the different flavour of ice-cream. In comparison to Ben and Jerry's, this
company reducing their cost.
Haagen-Dazs ice-cream Ben and Jerry's
£0.78~1.30 £1.35~2.02
10.0p~20.5p 38.9p~54.0p
As per this table, it has been analysed that Ben and Jerry's is more costly as well as offer
different product in the marketplace.
Ben and Jerry's: This company mage ice-creams at home so that price is decided
according to its competitor. The brand image of company is good it helps in gaining comprttive
advantage over rival firms (Sahaf, 2019). They make effective strategies to reach up to highest
level.
Place
Haagen-Dazs ice-cream:
There are large number of supermarkets as well as stores that provide high quality
products and services to its user . Beside from this, there is different shops through person can
buy its products easily.
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Ben and Jerry's:
This is well reputed company of America which deal home made ice-creams as well as
frozen dairy products (Pettigrew and Jongenelis, 2016). This firm provide its various products
and services to largest supermarket as well as store so that they achieve the feedback of its buyer
for rising the quality of products. In addition to this, they offer high quality flavoured ice-cream
to its buyer that helps in increasing confidence level of customer towards their products. They
have enough place to deliver its products and services in better way.
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Illustration 1: Haagen-Dazs ice-cream

Promotion
As per Haagen- Dazs ice-cream company , they do not advertise their product in radio, T.V. And
so on. Therefore, they offer high quality products and services to its targeted customer in order
to gain competitive advantage over rival firms. Whereas, the company emphasised on promoting
their products and services through sales promotion technique, events, publicity and sponsorship.
Thus, the firm is able to maintain good relation with its customer for boosting productivity as
well as profitability level (Rowley, 2016). There are various promotional method adopted by
company to promote its products for attracting large number of customer within marketplace.
In reference of Ben and Jerry's, the company invest large amount of finance for
promoting their whole products in the market. This firm need a lot of finance to promote their
home made ice-cream. This company adopt different social media for achieving goal and
objective of company in less period of time. Therefore, it assists in maintaining effective relation
with its buyer so that they can sold their products in an appropriate manner. Furthermore, the
main purpose of company is to improve experience level of customer by providing them
effective products and services.
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Illustration 2: Ben and JERRY homemade

CONCLUSION
On the basis of above mentioned information it has been examined that there are different
principles of marketing mix which is adopted by different companies to increase the overall
condition through which they can boost their sales and revenue. There are two companies choose
in this report which deal with ice-creams so they use various kind of marketing mix by which
they can distinguish their products with each other. The main purpose of both company is to earn
more and more profit by providing superior quality ice-creams to its user in order to satisfy them
in the marketplace.
REFERENCES
Books and Journals
Bernstein, J., 2017. Standing room only: Marketing insights for engaging performing arts
audiences. Springer.
Palmatier, R. W. and Crecelius, A. T., 2019. The “first principles” of marketing strategy. AMS
Review, 9(1-2). pp.5-26.
Pettigrew, S. and Jongenelis, M. I., 2016. promoting public health: Understanding the limitations
of marketing principles and the need for alternative approaches. In Making a Difference
Through Marketing (pp. 61-72). Springer, Singapore.
Rowley, J., 2016. Information marketing. Routledge.
Sahaf, M. A., 2019. Strategic marketing: making decisions for strategic advantage. PHI
Learning Pvt. Ltd..
[Online]
Haagen Dazs.2020.[online].available through:<https://www.zomato.com/santa-clara-ca/haagen-
dazs-santa-clara>
Ben &Jerry's. 2020. [Online]. Available through:
<https://www.dropbox.com/business/customers/ben-and-jerrys-case-study>
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