1 PRINCIPLES AND PRACTICES OF MARKETING Table of Contents Task One...................................................................................................................................3 1.0 Introduction....................................................................................................................3 1.1 Background or Overview of the New Look, UK.........................................................3 2.0 Promotional Mix and Activity of New Look, UK........................................................4 2.1Advertising.............................................................................................................4 2.2Public Relations......................................................................................................6 2.3Sales Promotion......................................................................................................6 2.4Personal Selling......................................................................................................7 2.5Direct Marketing....................................................................................................7 2.6Internet Marketing................................................................................................9 2.7Sponsorship..........................................................................................................11 Task two..................................................................................................................................12 1.0Model 1 (i.e. AIDA).................................................................................................12 1.1Definition of model...............................................................................................12 1.2How company New Look applies the AIDA model..........................................12 1.3Evaluation of effectiveness..................................................................................14 2.0Model 2 (i.e. Communication model).....................................................................14 2.1Definition of model...............................................................................................14 2.2How company New Look applies the Communication model.........................15 2.3Evaluation of effectiveness..................................................................................16 References...............................................................................................................................16
2 PRINCIPLES AND PRACTICES OF MARKETING Task One 1.0 Introduction The report is presented to discuss about the principles and practices of marketing that are associated with the business organization named New Look in United Kingdom. The promotional mix strategy has to be implemented focusing on how the company manages its marketing techniques and principles so as to build the brand and create awareness among the clients to influence their buying behaviours largely. The promotional mix will also include the various aspects of marketing in terms of the promotions component including he advertising, public relations, sales promotions, personal selling, direct marketing, internet marketing, etc. Based on the marketing mix portfolio, there will also be information provided about the various models and theories that are to be applied such as the AIDA model, communication model or process theory, which can bring effectiveness to the business’ marketing tactics (Nowak et al. 2015). 1.1 Background or Overview of the New Look, UK The business organisation New Look is a major global fashion retailer chain in United Kingdom, which has been owned and managed by the investment company named Brait SA. The fashion retail chain has sold good quality clothing goods and apparel items such as menswear, clothes for women and also the clothing items for the teenagers, both male and female individuals. The company has expanded its operations worldwide and also has operated across various places, i.e., more than 900 stores are present all over the world, which has helped in targeting different market segments comprising of clients with the different needs and preferences too (Armstrong et al. 2014). The headquarters of the company is in Weymouth, Dorset, London in United Kingdom. The company has served people worldwide and this has not only helped in generating enough revenue, but has also allowed the company
3 PRINCIPLES AND PRACTICES OF MARKETING to gain sustenance in the competitive clothing and apparel industry much comprehensively. The owner of the company, at present, is Brait SA while Paul Gilbert has managed the role of a Non-Executive Director of the organisation (Ennew et al. 2013). Though, there were few ups and downs in the meantime, the company still managed to appear as a well-known and established Clothing and Apparel Company in UK, thereby, acquired good amounts of profit and competitive advantage in business as well. As recorded in the year 2014, the operating income was GBP £805.9 million while the revenue generated accounted to about GBP £1,528 million (Smith 2014). 2.0 Promotional Mix and Activity of New Look, UK 2.1Advertising The company’s messages are clear and prompt as it has got most of the fashion items for everyone including the individuals who are curvy, petite, tall women and also for the men all over. Considering the mission statement of New Look, i.e., “to help people look good and feel great”, the company wants to make customers satisfied and also express themselves by
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
4 PRINCIPLES AND PRACTICES OF MARKETING working within an environment that raises the potential to implement changes and facilitate generation of new ideas and concepts too (Hollensen and Opresnik 2015). The company has advertised its products and services offline and online where the advertisements are made on televisions, newspapers, magazines so as to draw the attention of clients easily. On the other hand, with more than 5 million followers on the social media platforms, the company has managed to advertise its products and services on Facebook, Twitter and Instagram, which has also created awareness among people and influence their buying behaviours largely too (Bowie et al. 2016). The messages and information are transferred representing the features of the product and how it could suit their need and preferences, thereby, ensure that the targeted audiences are acquired much easily. The target audiences of New Look in UK are mainly the women who might be passing through the phase of maternity and even the products are designed to cater the needs of people with plus size and for the teenagers. There are products and services that have been delivered to target the male segment but still, the targeted audience is mainly the women aged between 16 to 35 years of age. Being one of the major clothing retail chain in UK, the targeted audiences age are under 35 years and thus the company has been preferred by many all over the world (Kotler and Armstrong 2013). The segmentation has been done on the basis of demographic segmentation while the geographic segmentation has helped in targeting people from different locations, both locally and globally. The company has positioned the products and services both online and offline, which has also helped in using the marketing mix component wisely, thereby, identified the unique selling proposition, which further ensured value creation along with improvement of ability to stay ahead of competitors and sustain a competitive place within the marketplace (Gbadamosi 2013).
5 PRINCIPLES AND PRACTICES OF MARKETING 2.2Public Relations The huge category of products and services aimed at the different market segments with different needs and preferences has helped in keeping the clients satisfied as a whole. Due to this, the public relations have been managed quite conveniently and effectively, which also helped in creating positive mind sets among them. Moreover, due to this, the general public have stated positives about the company only in the mainstream and also in the industry press and through third party channels, which also raised the awareness among people (Oladepo and Abimbola 2015). The word of mouth promotions further helped in making more people aware of the clothing items of New Look, furthermore, influence them to make purchases from the company consistently. Another thing to be noted is that the company has kept the clients up to date about the latest fashion offerings and corporate press releases along with various awards acquired by the company and thus, public relations also tend to remain positive all throughout for New Look, UK (Sagala et al. 2014). 2.3Sales Promotion One of the most effective tactics for New Look is the infusion of online shopping and fewer stores, which has helped in emphasizing on the profitability. The sales promotions have been managed with the help of providing men’s clothing such as coats and jackets at discount rate of over 25 percent. The loyalty schemes are introduced as well by the company with the help of providing the customer with a£5 discount voucher for the purchases made over £30. The flash sales have been introduced at the beginning if very weekend where the customers could make purchase of clothing items at a discount of 50 percent, though for just 6 hours (Nour and Almahirah 2014). This has made many people visit the stores or even make purchases online during the period, thus setting the sales level quite high.
6 PRINCIPLES AND PRACTICES OF MARKETING 2.4Personal Selling The personal selling at New Look has been possible with the help of utilising the people or human resources to sell the products and services by interacting with the customers directly. Not only, does the company has put efforts in training the empl0yees to acquire the desired skills and knowledge to promote personal selling of clothing goods and services, but also has made them quite competent to handle customers’ queries by showing good attitudes and behaviours along with acqusitions of specialist product knowledge too (Karunanithy and Sivesan 2013). Their professional needs of development have been understood as well, which has helped in identifying their areas of weaknesses and strengths, thereby, ensured personal selling supported by good word of mouth promotions achieved through the good behaviours among the staffs. 2.5Direct Marketing To improve the Direct Marketing efficiency, the New Look has made sure to advertise theproductsandservicesontelevisions,radio,billboards,magazines,etc.romthe advertisement of New Look in the form of video, it could be easily understood that the young individuals have been targeted and the tagline of the brand in the end of the video perfectly justifies the different clothing options available for both men and women at the company.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
7 PRINCIPLES AND PRACTICES OF MARKETING Moreover, to ensure effectiveness of marketing, he Porter’s strategy of cost leadership and differentiation components have been mixed together to make sure that the clothing items are uniqueandalsoaresetwithcompetitivepricesThiscouldallowthecustomersto differentiate between the products of New Look from the other company products, thereby, ensure that their buying behaviours are influenced largely (Alananzeh, Tarhini and Algudah 2018). To keep the people up to date, the company has often sent emails to the customers regarding the new products that have been introduced in the market while at the same time, ensured that they undertake some measures to allow the clients provided a feedback to it.
8 PRINCIPLES AND PRACTICES OF MARKETING This would not only create a bonding between the business and its customers, but would also be beneficial for New Look to deliver better customers services and enrich their buying experience furthermore. 2.6Internet Marketing The generation of huge amount of traffic in the digital platform managed by the company is critical for its success considering the achievement of e-marketing goals and objectives of the organisation. To ensure that the visitors to the website are increased, New Look has used a rage of online marketing communication tools and techniques by combining the digital platform with the offline communication medium (Yang and Lee 2016). The company could also use the Customer relationship management system or CRM to ensure addition of value and benefits to the customers, thereby, deliver them a better and enriching customer experience. The engagement of social media platforms such as by promoting the products via Facebook, Instagram or Twitter could bring in more potential customers as most of the customers aged in the range of 16 to 35 years prefer to stay online most of the times (Veit and Walle 2013). This would easily grab their attention and the efforts put by the company would bring positive results for the business as well as deliver greater level of satisfaction among the customers too.
9 PRINCIPLES AND PRACTICES OF MARKETING The webpage managed by the company includes the information about recent trends, which is easily accessible and viewable by the clients, thereby, allow the ‘fashionistas’ to search for the specific items by filtering their search options or preferences too. This has even proved to be quite effective for the target market as they could easily shop for the items online without any need to visit the physical stores and the product would soon be provided at their doorsteps without much delay (Fam et al. 2013).
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
10 PRINCIPLES AND PRACTICES OF MARKETING 2.7Sponsorship The sponsorship has been managed by New Look with the help of undertaking CSR strategies aimed at putting the employees at the centre of the Agenda maintained by New Look in UK. With the involvement in CSR activities, the company has formed partnerships with various suppliers, non-governmental organisations and also with the Government and regulatory bodies to improve supply chain activities and improve production too, considering the values and ethics of business management (Gangeshwer 2013). The CSR strategy has been possible with the help of ethical sourcing where the company has worked with responsible suppliers and factories where the employees have been provide with safe working environment and conditions, which made them perform to their potential. Moreover, the consideration of environment friendly activities as part of the supply chain management
11 PRINCIPLES AND PRACTICES OF MARKETING further protected the environment while respecting the animals to promote high animal welfare standards too (Pomirleanu et al. 2013). The company who offer sponsorships have partnered with organisations such as Accord, ACT, etc. This has not only helped in the maintenance of ethical standards but has also fostered the livelihoods of people and improved supply chain efficiency (Hassan et al. 2015). Task two 1.0Model 1 (i.e. AIDA) 1.1Definition of model It has been understood that the AIDA model represents the attention, interest, desire and actions, all of which, are essential components of marketing revolving around the entire process of manufacturing and production up till the purchase of that product or service. It has not only been essential for marketing activities, but also has facilitated the management of public relations, which are required to optimise the sales and also improve the relationship between the purchaser and seller of the products if New Look in United Kingdom (Ghirvu 2013). The AIDA model has been perceived as an effective tool to improve the marketing tactic that has the potential to attract the attention of customers while at the same time, create interest and awareness among people, thereby, create a sense of desire among them, furthermore,undertakenecessaryactionstoinfluencetheirbuyingbehaviourslargely (Gangeshwer 2013). 1.2How company New Look applies the AIDA model The AIDA model stands for attention, interest, desire and actions, all of which are related to the marketing activities managed by New Look to ensure targeting the right audiences and ensure meeting their demands and expectations through delivery of good quality products and services. A, as the term suggest, represents the company’s approach to
12 PRINCIPLES AND PRACTICES OF MARKETING grab the attention of customers, which could be possible with the help of advertising and promotions via emails, social media marketing and also with the help of advertisements on televisions, newspapers, magazines and also through social networks (Hadiyati 2016). The ‘I’ stands for interest, which represents the company’s approach to make people aware of the products and establish interest among them, which would further create desire among them and allow them to make purchase, which is part of the actions undertaken. For example, the website managed by New Look has allowed the customers to place orders, gain answers to their queries and also engage in a conversation with the organisational memebrs, furthermore, get encouraged to make purchases. To generate interest, the promotional activities managed with the help of email campaigns have helped a lot to make the customers remain up to date about the products and
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
13 PRINCIPLES AND PRACTICES OF MARKETING services, thereby, understand their their needs and preferences would be met or not. The social media marketing and promotions could also raise awareness and create interest among them, which also enhances their desire level to try out the products, especially the good quality clothing items of New Look in UK. The model has been used by the company by integratingwiththevariousplatformstomarketandpromotetheproducts,which automatically, made people learn and undertake necessary actions, i.e., to make purchases and fulfil their requirements (Sagala et al. 2014).
14 PRINCIPLES AND PRACTICES OF MARKETING
15 PRINCIPLES AND PRACTICES OF MARKETING
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
16 PRINCIPLES AND PRACTICES OF MARKETING 1.3Evaluation of effectiveness The effectiveness could be measures in terms of the key performance indicators such as the high amount of traffic on the website along with high amount of profit acquired. Moreover, the company’s webpage in Facebook has over 3,313890 likes, which denotes that the company has a good online presence and most of the comments made by people are also positive. There have been good amount of shares and the likes made by people on the posts further represent the fact that the company has created a good presence in the marketplace and influenced consumers; buying behaviours (Alananzeh, Tarhini and Algudah 2018).
17 PRINCIPLES AND PRACTICES OF MARKETING
18 PRINCIPLES AND PRACTICES OF MARKETING 2.0Model 2 (i.e. Communication model) 2.1Definition of model The communication model, as the name suggests, is an effective model or framework applied in business for making sure that the sender transfers the right messages to the receiver, which is the customers here. The sender has been the business, i.e., New Look, which has managed to make sure that the messages and information about the product or service are transferred properly to the client through a medium, which is decoded by the receiver and their behaviour could get influenced (Bovée, Thill and Raina 2016). The communication model, thus has been described as an effective model, often used by the companies to make sure that the right messages and information are transferred to the right individuals through the right medium so as to create awareness, a sense of interest among them, furthermore, influence their buying behaviours largely (Sagala et al. 2014). 2.2How company New Look applies the Communication model The company has applied the communication model to design various ways or approaches for marketing the products and promote those effectively in the marketplace. It has also been found that with the use of various email campaigns and also through advertisements on televisions, newspapers, billboards, magazines, it has become much easier for the company to present and deliver the messages and information about the products and
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
19 PRINCIPLES AND PRACTICES OF MARKETING services to its clients, all of which, acted as great media to transfer the messages to the clients (Pearson 2017). Moreover, the transferred messages are then decoded by the clients once they receive those information via those media, which enables them to understand those and check whether their need and preferences would be met comprehensively or not. Thus, the source of information must be analysed properly, then the transmitter, the receiver and then also the medium from which, the message or information would be passed through.The posts made on social media have also kept the clients up to date about the new products and services made available by New Look in the marketplace, which also drove the behaviours and ensured influence on the consumers’ buying behaviours too (Niemann-Struweg 2014). 2.3Evaluation of effectiveness The KPIs could be measured in the form of positive comments made on the Facebook webpage while on the other hand, while conducting a survey process also, most of the customers responded on a positive note and believed that the clothing goods of New Look are quite good and boost of high quality, which has allowed the company to keep up with the trends in the clothing and apparel industry too (Husain 2013). The likes and shares of the website and also on the different networking platforms, further raised awareness among people, and through word of mouth promotions, the company created positive brand image and equity, which also encouraged the clients to make repeated purchases and become loyal customers. Thus, with the help of this, the company also experience good amount of profit and ensured attainment of competitive advantage in the competitive business environment as well (Bowie et al. 2016).
20 PRINCIPLES AND PRACTICES OF MARKETING References Alananzeh, O., Tarhini, A. and Algudah, O., 2018. The effect of promotional mix on hotel performance during the political crisis in the Middle East. Journal of Hospitality and Tourism Technology. Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia. Bovée, C.L., Thill, J.V. and Raina, R.L., 2016. Business communication today. Pearson Education India. Bowie, D., Buttle, F., Brookes, M. and Mariussen, A., 2016. Hospitality marketing. Taylor & Francis. Ennew, C., Waite, N. and Waite, R., 2013. Financial services marketing: An international guide to principles and practice. Routledge. Fam, K.S., de Run, E.C., Shukla, P. and Weng, J.T., 2013. Consumers' personal values and sales promotion preferences effect on behavioural intention and purchase satisfaction for consumer product. Asia Pacific Journal of Marketing and Logistics. Gangeshwer, D.K., 2013. E-commerce or Internet Marketing: A business Review from Indian context. International Journal of u-and e-Service, Science and Technology, 6(6), pp.187-194. Gbadamosi,A.,2013.Principlesofmarketing:Avalue-basedapproach.Macmillan International Higher Education. Ghirvu, A.I., 2013. The AIDA model for advergames. The USV Annals of Economics and Public Administration, 13(1 (17)), pp.90-98.
21 PRINCIPLES AND PRACTICES OF MARKETING Hadiyati, E., 2016. Study of marketing mix and AIDA model to purchasing on line product in Indonesia. British Journal of Marketing Studies, 4(7), pp.49-62. Hassan, S., Nadzim, A., Zaleha, S. and Shiratuddin, N., 2015. Strategic use of social media for small business based on the AIDA model. Procedia-Social and Behavioral Sciences, 172, pp.262-269. Hollensen, S. and Opresnik, M.O., 2015. Marketing: A relationship perspective. Vahlen. Husain, Z., 2013. Effective communication brings successful organizational change. The Business & Management Review, 3(2), p.43. Karunanithy, M. and Sivesan, S., 2013. An empirical study on the promotional mix and brand equity: Mobile service providers. Industrial engineering letters, 3(3), pp.1-9. Kotler, P. and Armstrong, G., 2013. Principles of Marketing (16th Global Edition). Niemann-Struweg, I., 2014. An integrated communication implementation model for the post-2000 business environment. Public Relations Review, 40(2), pp.184-192. Nour, M.I. and Almahirah, M.S., 2014. The Impact of Promotional Mix Elements on Consumers Purchasing Decisions. International Business and Management, 8(2), pp.143-151. Nowak, G.J., Gellin, B.G., MacDonald, N.E. and Butler, R., 2015. Addressing vaccine hesitancy: The potential value of commercial and social marketing principles and practices. Vaccine, 33(34), pp.4204-4211. Oladepo, O.I. and Abimbola, O.S., 2015. The influence of brand image and promotional mix on consumer buying decision-a study of beverage consumers in Lagos State, Nigeria. British journal of marketing studies, 3(4), pp.97-109.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
22 PRINCIPLES AND PRACTICES OF MARKETING Pearson, R., 2017. Business ethics as communication ethics: Public relations practice and the idea of dialogue. In Public relations theory (pp. 111-131). Routledge. Pomirleanu, N., Schibrowsky, J.A., Peltier, J. and Nill, A., 2013. A review of internet marketing research over the past 20 years and future research direction. Journal of Research in Interactive Marketing. Sagala, C., Destriani, M., Putri, U.K. and Kumar, S., 2014. Influence of promotional mix and price on customer buying decision toward fast food sector: a survey on university students in jabodetabek (Jakarta, Bogor, Depok, Tangerang, Bekasi) Indonesia. International Journal of Scientific and Research Publications, 4(1), pp.1-7. Smith, M.C., 2014. Principles of pharmaceutical marketing. Routledge. Veit, T. and Walle, A., SAP SE, 2013. System and method for defining a sales promotion. U.S. Patent 8,478,632. Yang, D.J. and Lee, C.W., 2016. In-store promotional mix and the effects on female consumerbuyingdecisionsinrelationtocosmeticproducts.InternationalJournalof Management, Economics and Social Sciences, 5(2), pp.35-56.