Principles and Practice of Marketing

This document explores the principles and practices of marketing, focusing on the promotional mix and activities of Barclays Plc. It discusses advertising, public relations, sales promotion, personal selling, sponsorship, internet marketing, and direct marketing. The document also includes a case study on the AIDA model of marketing Barclays investment bank.

Principles and practice of
marketing

Table of Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
1.1 Background or overview of Barclays Plc..............................................................................4
2.0 Promotional Mix and Activity of HSBC UK.............................................................................5
2.1 Advertising.............................................................................................................................5
2.2 Public Relations.....................................................................................................................5
2.3 Sales Promotion ....................................................................................................................6
2.4 Personal Selling.....................................................................................................................6
2.5 Sponsorship ...........................................................................................................................7
2.6 Internet marketing .................................................................................................................7
2.7 Direct marketing ...................................................................................................................8
TASK 2............................................................................................................................................8
1.0 AIDA Model of Marketing Barclays investment bank..............................................................8
1.1 Definition and application of model......................................................................................8
Evaluation of effectiveness........................................................................................................10
2.0 Pull and Push Strategies...........................................................................................................10
2.1 Definition and application of model........................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing principle and practices explore the most effective areas of consumer marketing
in which mainly focused on situation analysis, develop effective strategies, development of
marketing objectives, marketing mix, target marketing and research. Marketing is a critical
business function for profit and non profit organisation in which consist of research, product
design and promotion, development as well as customer experience (Alexandrova, 2018).
Through strategic marketing a business achieve their set goals in certain period of time. To better
understand of this report selected bank, Barclays plc which is a British multinational investment
bank. It is providing financial services and conduct activities into four parts such as, personal
banking, investment management, corporate banking and wealth management. This report has
been categorised into two parts. In first part discuss about the overview of bank and focus on
promotional mix to understand market research. While in second part consist of different
marketing theories in context of selected bank.
MAIN BODY
1.1 Background or overview of Barclays Plc
Barclays Plc is a British multinational investment bank as well as financial services
company. It is situated in London, United kingdom. The bank was founded in 17 November
1690 in the city of London, kingdom of England. Apart from the investment banking it is
conducting their business any other sectors like wealth management, corporate banking,
investment management and personal banking. In the year of 1896, there are different banks in
London and the English Provinces in which consist of Backhouse's Bank and Gurney's bank.
This bank has been listed into London stock exchange as well as in constituent of the
FTSE 100 index. Barclays plc is provided different types of banking services like retail banking,
wholesale banking, commercial banking and investment banking. As per the year of 2011,
Barclays famous for the most powerful transactional corporation which is mainly based on the
global financial stability and market competition. It is global financial service provider bank
which is related with the credit cards, wholesale, investment management service and many
others. This bank has been conducted their operations into different countries like South Africa,
Mauritius, Russia, New york and many other places (Alexandrova, 2018).

2.0 Promotional Mix and Activity of HSBC UK
2.1 Advertising
It is a marketing tactic which is adopted by an organisation to promote their products &
services at large level. The actual promotional message prepared by organisation as per the
requirement of business. This tools is part of promotional mix, the manager of company develop
effective strategy to get assured outcomes. The Barclays Plc apply this method to promote their
banking services in order to get attention from the customer and influence them to engage with
us. It is most effectively strategy which is easily applied in bank and set a tag line. The main
objective of this tool to cover larger market area and people pay attention for their products &
services and entice them to purchase. To tapping into other country use this strategy where
analysis the purchasing behaviour of people and provide different offers to influence them (Bakir
and et. al., 2019).
2.2 Public Relations
It is described as the process of maintaining positive relationship with the members of an
organisation so as to create favourable image in the eyes of public(Resnick, Cheng, Simpson,
and Lourenço, 2016). It is considered as the most important element of promotional mix that
emphasises on promoting the reputation of a company, procedures and its policies in front of
large number of individuals through an effective communication process. The scope of this
element is wider with major functional areas such as finance, marketing or human resource
department as each play a different role in an organisation. The role of public relation in case of
Barclays is regarded as the top fifth bank in UK that deals with various financial solutions,
mortgages and business banking. The respective firm has expanded its operations in different
parts of the country because of its positive reputation in an around the world. The major aim is to
make understand the large number of public by building corporate image and also create positive
perception to the bank. Digital platform play an essential role in rendering effective services over
50 countries and also aims to provide fast and efficient services to their clients(Bush, Bell, and
Middlewood, D. eds., 2019). Public relation help in analysing, anticipating and interpreting the
views and opinions of public towards the brand and prepare an appropriate strategies in order to
influence them. The core function of public relation is to provide counselling to employees

related to policies, procedures, and by defining the role and responsibilities to them so that they
could work with greater efficiency and zeal.
2.3 Sales Promotion
Sales Promotion: Sale promotion is defined as a effective tool in promoting the sales of
product and thus increases the profit(Kumar, 2017). Customer satisfaction is the top priority for
any business that aims to stimulate the demand of product and it also aids in introducing the new
product in the market or to sell out existing inventories. This also help to attract more and more
customers by spreading the information about the brand and thus lift the sales of goods or
services. This can be done by various sales promotion techniques such as coupons, free gifts,
samples and so on to boost the sale. The manager of Barclays uses this strategy in order to gain
competitive position across the globe and thus increases the trust among the large group of
consumers. Barclays aims to offer various financial solutions by providing technologically
advanced platforms so as to provide an ease of convenience among the customers. The
concerned firm aims to promote its products among small and medium enterprises by offering
Barclay cards and payment solutions at a global level in order to create an awareness among the
large group of individuals. The benefit of sales promotion is to encourage the customers to trial
the product or to use the service to gain trust and thus builds customer loyalty across the globe.
2.4 Personal Selling
Personal Selling: It is described as a two way communication process that emphasises
on selling by meeting face to face with clients by providing full information about the product
among the group of individuals(Fletcher, Fyall, Gilbert, and Wanhill, 2017). This strategy aims
to inform, persuade and remind people through the physical appearance of the product. One of
the biggest advantage of personal selling is that it help in providing immediate feedback about
the reactions of individuals and provide high attention to their customers. But at the same time, it
focuses on reaching limited number of customers and is also considered as expensive source of
promotional mix. The company wants to spread awareness of its goods or services through
various medium by generating large number of customers. Barclays emphasises on small
business institutions by providing various banking solutions and trade solutions in different parts
of the country. It also provide the facility of various financial advisors to reach the clients and
thus provide complete information about their wide range of services so as to gain maximum
customer satisfaction. This also emphasises on achieving maximising sales and thus increasing

the profitability of a business and it also help in conveying a lot of information and also meet
with the problems of clients. Therefore, it create a major impact on a firm and make the sale.
2.5 Sponsorship
Sponsorship: It is described as the event, activity or a person on a financial basis in
exchange for specific promotional benefits(Evans, 2016). In other words, it can be described as a
cash or in kind property that aims to deliver brand awareness in a long run so as to create large
access of customers and it also aims to provide the benefits to the sponsor in order to gain a
significant position within a country. One of the greatest benefit of the sponsorship is that it
builds brand awareness and thus create a positive association of a brand. It is regarded as
excellent tool that help in understanding the target market so as to gain maximum exposure. This
help in gaining the attention of large number of individuals and provide assistance in increasing
the sale of a product. The drawback of sponsorship is that it does not provide guarantee on return
on investment. It is considered as a time consuming process as it require lot of planning and its
implementation takes time between the sponsor and the sponsee association. Also here, there is
lack of standardization which affect the productivity and efficiency of an organisation. Barclay is
a financial services company that uses the sponsor strategy of English Football so as to gain the
attention of large number of customers across the globe. The use of various social media
networking sites such as Facebook, Instagram, twitter and so on help various individuals to
provide the attention and convey large source of information.
2.6 Internet marketing
Internet marketing
Internet marketing is the activity which is performing by organisation in order to aware
and inform people regarding a product and services. In this marketing, company uses digital and
online based technology that attracts customers and encouraging them to buy products and
services. It is most prominently technology where information are published on social sites and
internet which keeps aware to people and encourage them to buy. Such as when ever new
investment and banking services are provided by Barclays organisation then managers are using
internet banking in order to influence people and provide them good suggestions. This helps to
make right buying behaviour. With the help of internet marketing organisation can increase
number of customers and profitability (Bakir and et. al., 2019).

2.7 Direct marketing
Direct marketing
This is considered as important promotional tool which is used by organisation for
increasing sales and productivity. By using intent of technology, organisation reaches customers
directly without any intermediaries. There is no need to interaction of intermediators that helps to
manage the functions and activities. This involves e-mails, text messages and fax which are used
by organisation while running their business activities and increasing profits. In context to
Barclays investment banking, managers are responsible for sending emails and messages to
customers when they need to be informed about new offers and sales. This helps to increase the
promotional activities and maintain the profitability (Denny, 2018)
TASK 2
1.0 AIDA Model of Marketing Barclays investment bank
1.1 Definition and application of model
AIDA is consider as a model which is used in marketing by defining the steps a
consumer goes through in process of purchasing a product. It has been modified and reviewed
multiple times over the years in marketing and public relations. The main purpose of this model
is to optimise sale calls, specially the interaction between seller and buyer by concerning the
product. This model is used to increase the sale and profitability of a company so goals and
objectives can be accomplished in certain period of time. This is important for organisation to
follow such model or stages in relation to Barclays investment bank that helps to maintain the
activities and increase profitability. It supports buying behaviour of customers and provide
guidance that can fulfil needs and wants. This bank provides financing, advisory and risk
management services to larger organisation that helps to increase the organisational productivity
and profitability (Gunn, 2018). The stages of AIDA model are as defined:
Attention – This is the first step in marketing or advertising which is consider by
organisation in order to attracting the attention of consumers. Such step tells that product should
be attracted the consumer's attention. It is possible via advertising materials and promotional
channel that are used to provide information and increase number of customers. The main
activity of organisation is use the advertisement for the purpose of informing and attracting
people so people pay attention on them and get influence towards products and services. In

reference to Barclays investment bank, management make uses of advertisement and posters for
developing knowledge of customers regarding product and services. Advertisement inform
people what banking services are providing by organisation and how they make investment in
their organisation that helps to increase the organisational productivity. Higher attention
influences the sale of Barclays by increasing number of customers and contributing in increasing
market share (Pinheiro. and et. al., 2018).
Interest – In this step, after attracting customer's attention the interest in product and
services should be aroused. In other words, if once customer is aware regarding product and
services that are exist in market, businesses should be work on increasing interest level of
potential customers. This step is mainly used to take initiatives after informing and awareing
customers regarding products and services. In Barclays investment bank, marketing manager are
uses marketing strategies for the purpose of creating interest of potential customers. This mainly
target those people who wants to start and grow up their business that helps to run a business
effectively. Number of people are showing their interest in business activities and maintaining
their performance (Mendes Thame Denny, 2018).
Desires – After getting interest by consumers in products and services then consumers
goal is to desire it. They move their mindset from “I like it” to “I want it”. This step is users to
develop the interest of people and encourage them to buy the products and services. For
example, the marketing manager of Barclays investment bank provides benefits of their products
and services, that takes in to account the daily lives of target group. Managers are using online
marketing where they highlights services and benefits with bullet points that generates desires to
buy and increase productivity and profitability. This desire helps chosen organisation to improve
their sales and productivity efficiently. If organisation is having desires to increase the
productivity then it need to develop products and services accordingly (Luiz and et. al ., 2019).
Take action – This is ending step which states that desire to buy is aroused, is transferred
in to action that is purchase. In last stage managers ensure that customers take action at their
level which helps to increase the organisational effectiveness. For instance, the manager of
Barclays investment bank uses online marketing with persuasive text that convince customers
and also states benefits which helps to take right action. Moreover, managers communicates with
clients how convenient their investment services is valuable and practicable while taking action.
When organisation wants to offer variety of products and services then it needs promotional

resources so people get aware regarding this and take right action which increases organisational
productivity (Rane and et. al., 2019).
Therefore, AIDA model is used by Barclays company by analysing the effectiveness of
PR campaigns, and provides valuable information that helps to increase sale and profitability.
The benefits of such formula is simplicity and flexible application possibilities in areas. By using
this, organisation be able to inform people and attracts them to buy products as well as services.
Evaluation of effectiveness
On the basis of all information and application of AIDA model is using by Barclays
investment banking company that gives effective knowledge and interpretation in order to
increase the effectiveness. This model supports company directly by modifying their existing
approaches and activities that influences customers and increase productivity. While running a
business, it is important for organisation to focus on goals and make plans accordingly so goals
and objectives can be accomplished effectively. The management of company uses different
types of activities and approaches which influences customers leads to incremental of Barclays
sales by increasing number of customers (Sifonios, 2018).
2.0 Pull and Push Strategies
2.1 Definition and application of model
Pull strategy: This is a strategy which is used by organisation for the purpose of creating
interest of customers by targeting audience. In this strategy customers are pull towards a product
of organisation effectively. It involves promotion of marketing efforts to the final consumers.
When organisation is going to introduce something new product the it uses pull strategy that
helps to inform people and attracts customers effectively. In reference to Barclays investment
bank, management are developing various investment services which is beneficial for customers
and increase profitability (Verdenhofa and et. al., 2018).
Push strategy: This is another strategy which is used by organisation to promote the
plans by focusing on promoting the products and services. Herein, organization tries to attracts
customers. The main object of this strategy is to make people aware of brand and product by
using sales force, trade, money and promotion channel. The management of Barclays investment
banking company is using sales force, trade promotion and money to aware regarding products
and services that helps to increase number of customers (Sifonios, 2018).

CONCLUSION
From the above report it can be concluded that marketing is main activity which uses by
companies for awaring people and promoting their products. With the help of marketing people
increases their knowledge and understanding level that processes to make right buying decision.
Promotional marketing mix is used by company for promoting their products and increase the
sale. Moreover, AIDA model involves different steps which helps to attracts people and increase
the organisational productivity and profitability.

REFERENCES
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