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Principles of Marketing- Assignment

   

Added on  2020-12-10

11 Pages2121 Words205 Views
MARKETING PRINCIPLESAND TECHNIQUES

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Marketing basics and activities carried out in departments of businesses.............................1Explanation of market segmentation......................................................................................1Explanation of marketing mix................................................................................................2TASK 2............................................................................................................................................2Explanation of aims of research and market analysis............................................................2Market research methods........................................................................................................2Market analysis tools and techniques.....................................................................................3TASK 3............................................................................................................................................3Description of methods of e marketing used for products and services.................................3Explanation of how companies manage their online image...................................................3TASK 4............................................................................................................................................4Utilization of market analysis techniques on AF Blakemore& Son's Juice line...................4Interpretation of findings of market research and analysis....................................................5Presentation of findings..........................................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9APPENDIX....................................................................................................................................10

INTRODUCTIONMarketing is the activities of an organisation which includes inventing, designing,advertising and selling of products and services to customers (Huang and Rundle-Thiele, 2015).This assignment will cover details of AF Blakemore & Son's marketing activities and analysis onresearch, segmentation, pricing and public relations will be done on their new juice line.Determination of market segmentation will be done. With the help of various tools, it willanalyse and identify customers and their needs through research on market. It will examineproblems that arise in services and assess e-marketing and its application. TASK 1Marketing basics and activities carried out in departments of businessesMarketing is an essential part of any business. It consists of various activities that is donein order to buy and sell products or services to consumers (Lee and Kotler, 2015). The processstarts with innovation, designing, advertisements, merchandising and delivering of products.Marketing activities include:Research of products through various methods for increasing sales. For example, AFBlakemore & Son can research on how good quality juice can be made so that it canattract customers.Targeting consumers that would be interested in buying AF Blakemore & Son's new juicelinePricing of products in an affordable mannerSegmentation of customers to find right ones for selling productsAdvertising and promoting of products and servicesPublic relations managementManagement of social media accounts to interact with customers.Explanation of market segmentation Market segmentation divides markets into various groups which helps AF Blakemore &Son determine behaviours and patterns of their customers, so that they are able to produce thejuice and market it an attractive way. This is done through socio-economic segmentation, inwhich customers are divided into different groups, behavioural segmentation separatesindividuals on the basis of behaviour (Eastman, 2017). Demographic segmentation dividesconsumers on basis of age, gender and family income and psycho-graphic segmentation analyses1

lifestyle and interest of people's buying pattern. Geographical segmentation separates customersaccording to the areas in which they live. This helps in understanding the preferences ofcustomers and creating a juice accordingly so that company can cater to their needs. Explanation of marketing mixMarketing mix is a tool that is used for controlling factors that influence customers topurchase products and services of a company (Kenny and Dyson, 2016). These include:Product: AF Blakemore & Son has to ensure that the juice tastes good and is made fromquality raw materials and most importantly flavours that their customers like. Price: Products have to be value for money, so that customers buy from them and theyare able to generate enough profits through sales.Promotion: With the use of attractive advertisements, AF Blakemore & Son canpromote their Juice at various platforms.Place: AF Blakemore & Son can open stores at places which can easily attractcustomers. TASK 2Explanation of aims of research and market analysisMarket research means assembling customer's and market's data systematically. Theiraim is to identify and determine how customers behave towards AF Blakemore & Son's juiceline, expand it across the country and increase its sales with help of various strategic promotions.Market analysis aims in studying needs and wants of customers (Rozdolskaya and Ledovskaya,2015). Their purpose is to analyse current marketing problems and opportunities so that they canmake their juice line accordingly. Quality of juice is an important factor for success of theproduct and with help of quantitative and qualitative research, AF Blakemore & Son can achievetheir target. Market research methodsThere are various primary and secondary research methods that can be used by AFBlakemore & Son. They can collect information by conducting surveys and analyse it. This canbe done through a suitable method, questionnaires, which utilises a common tool to find outwhether or not customers are satisfied with pricing and packaging of juice products. This helps incommunicating directly with customers (Armstrong and et.al., 2014). Interviews can beconducted by AF Blakemore & Son, so that they get an idea of performance of their juice line.2

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