Principles Of Marketing | Furniture Village UK | Assignment
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Added on 2020-02-12
Principles Of Marketing | Furniture Village UK | Assignment
Added on 2020-02-12
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PRINCIPALS OFMARKETING
INTRODUCTIONMarketing is defined as transfer of goods and services from manufacturer or seller totheir customer. It includes promotion, advertising, selling, production and storing. Marketinginclude all activities which is conducting for purpose of sales. It refers to transfer of goodsand services to people for providing full satisfaction them and earning huge amount of moneyas well. The present report is based on Furniture Village of UK. It is an furniture retailerwhich transfer their products in a worldwide. It has around 45 stores in United Kingdom andprovide of variety of wooden products in international market. The organization may useinternet for marketing of their product and people can purchase their product from onlinestore. It consist product, price, place and promotion which help company to improve theirperformance and build market image as well (Armstrong, Denize and Kotler, 2014). TASK 1Marketing stands for deliver of products and services to local people. Internal andexternal factors of entities are affected their existence. External factors of Furniture Villageare having a impact of their marketing programme (Lilien, Rangaswamy and De Bruyn,2013). These factors are as defined below:Political factors- These factors defined as stability in political environment whichhaving a impact on marketing of organization through various types rates and taxes.Government framed some rules and regulations related with tax policies and tradingagreements which affect marketing of Furniture village. Usually, company delivers itsproducts and services in various locations and use different types of marketing process whichhelp company to increase its sale and level of earning as well. Attitudes of politicalmovements are need to stable otherwise they affect entities.Legal factors- These factors are also having impact on marketing of Furniture village.It include employment laws and consumer protection laws which may affect existence.Further, marketing is a key element in every company which assist them to increase theirlevel of earning (Donovan and Henley, 2010). Economical factor- As Furniture village use marketing process in various countrieswhich is different from one country to another. These factor include monetary policy,inflation rates, economic growth rate and level of employment and unemployment. High rateof economic factor may affect directly or indirectly to marketing programme. If country
having high rate which purchasing power of people is also high and they buy large number ofgoods of furniture village. But situation is different in the case on law economic rate. Technological factor- Most of the companies use advance technology in marketingprogramme which help them to build market image. Furniture village use internet, E-commerce and latest technological equipment for the purpose of marketing. The companyengaged in the business of transfer wooden products in international market which is a largestwood retailer. Also these factors provides new methods and innovations with the help of newtechnologies (Peltier and et.al, 2010). Internet play a vital role in this process, which helpcompany to promote its goods and services in different countries and perform marketingfunction for attract more customer towards their wooden goods. Customer also purchase theirproduct through online store which can they order online and get product at home withoutany physical effort. Environmental factor- These factors affect marketing process of company. Itinvolves affect of natural resources which recycle procedure which having impact onexistence of organization. Socio-cultural factor- These factors include costume, tradition, cultural and beliefs.Every company have to use marketing of that product which are according to the cultural andtradition of people. Cultural having a more impact on marketing programme becauseFurniture village deliver its goods and services in many countries which all have differenttradition. It include age distributions, demographics, distribution of health etc. TASK 2Managers and leaders of Furniture village have to perform task in order to managemarketing and segmentation programme. Through strategies are effective and produce able toincrease earning efficiency and level of profit as well. Marketing department of Furniturevillage prefer different segmentation strategies which are effective in nature and helpcompany to attain their desired long term goals and objectives. Segmentation strategiesconsist variable elements such as, age, lifestyle and gender (Hair and et.al, 2012). Somevarious ways to segmenting market are as follows:Geographic segmentation- Furniture village use this type of strategies for enhancetheir market present and attract more customer. Managers use this strategy in which dividemarket according to climate, market size and states. Most of the organization use climate if
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