Principles of Marketing: Effectiveness of Marketing Mix and STP Approach

This report analyzes the effectiveness of marketing mix in relevance with organization and discusses the STP approach in relevance with enterprise. It explores the principles of marketing, including product, price, place, and promotion, and how they are applied by Apple and Fitbit. The report also highlights the importance of segmentation, targeting, and positioning in marketing strategies.

PRINCIPLES OF
MARKETING

Table of Contents
MAIN BODY........................................................................................................................................3
TASK 1.................................................................................................................................................3
Examine effectiveness of marketing mix in relevance with organisation..........................................3
CONCLUSION.....................................................................................................................................6
REFERENCES......................................................................................................................................7
Books & Journal:...............................................................................................................................7
INTRODUCTION

In business, marketing play important role in growth and development as it includes
theories as well as concepts which are used in by organisation at wider scale. This involves
selling as well as purchasing of product in the market by using marketing principles &
theories. This report includes analysis of two organisations and their product which are Apple
& Fit-bit. Both the enterprises provide and deal in watches, smart devices, products etc. So,
here discussion has been made about STP approach and marketing mix element (product,
price, place, promotion). By using these components, it becomes easy to implement strategies
as well as tactics in business. Thus, selected corporation adopts and use principles of
marketing appropriately.
MAIN BODY
TASK 1
Examine effectiveness of marketing mix in relevance with organisation
Marketing mix is set of guidelines which includes four elements through which
marketers are able to achieve goals and objective properly. It is wider & broader concept
which requires high level of expertise and knowledge to understand effectively. This is also
used by entrepreneur to analyse the customer needs and requirements so that correct
decisions are made accordingly (Abeck, 2017).
Comparison
BASIS APPLE WATCH SERIES
4
FITBIT 2
Design
In this, watch has design like
digital crown and it looks
premium in hand (Muchiri,
2016).
In this, design look like
standard button and is good
on every individual
Marketing mix
Apple watch series mostly
focuses on all the elements of
mix principles.
Fit-bit 2 is focused on price
and product.
Marketing Mix-
It is set of principles which combine four components together on marketing process.
Elements which are involved are listed below-
PRODUCT- A product is something which is used for selling as well as purchasing.
It is responsibility of manager to make ensure that right product is being sold to right

consumer. In relevance with Apple watch series 4, it targets mostly medium and high class
people. Whereas comparing it to Fit-bit 2, they target small, medium and high class people.
Watches from both the brands are different from each other because of their product quality.
Because watches of Apple looks more premium as compared to Fit-bit 2. Manufacturer has
the power to design, change product specifications, characteristics according to the customer
preferences. In this process, many decisions are taken regarding product modification,
changing traits, deletion part etc. Hence, proper measures are to be taken while delivering or
implementing new product (Sudari, 2019)
PRICE- Another element is price which refers to value of commodity in market.
Without a price, selling process cannot be processed because it decides and stimulate
consumer to buy product or not. Various types of price strategies are adopted by marketers
such as skimming price, penetration, premium, economy etc. These are being chosen by
entrepreneurs on the basis of market as well as demand. It is important to use them so that
accurate price is put on product. In relevance with Apple, they use premium pricing strategy
on their product. Whereas comparing it with Fit-bit, they adopt penetration pricing strategy in
which prices of products is lower as compared to competitors such as Samsung, Apple etc.
PLACE- In this element, location is being taken as first priority of the business and
product. This includes decisions regarding the inventory, warehouses, transportation, etc. It is
also known as distribution stage of marketing mix. For example- Apple watch series us being
sold online on e-commerce websites via authorized retailers, physical stores are located all
around the world. Fit-bit also uses online retailers for their selling of product but relating with
Apple they have less physical store around the world. So, distribution also play crucial role in
MM (Fitriah, 2019).
PROMOTION- The last element is promotion in which marketing of product is done
with motive of creating awareness about the brand. There are various modes of doing
promotion such as digital platforms like Facebook, You Tube, etc. celebrity endorsement and
many more. It depends upon the organisation through which mode they want to promote their
product. In context to Apple watch series 4, promotion is mostly done via public relations,
and advertisement. Fit-bit uses ads and digital platforms for their product promotion at global
level.
After a brief analysis of above matter, it is stated that MM is essential for business to
achieve the objective within a period of time. While going through this, it is also important to
conduct proper market research so that components are applied properly with correct
analysis. Further, effective strategies & tactics are to be used so that problems do not arise in
near future. This is time consuming method but effective for organisation to increase their
image in market.

TASK 2
Discuss STP Approach in relevance with enterprise
Segmenting – The concept of segment is based on the fact that markets of
commodities are not homogenous but they are heterogenous. Market represent a group of
customers having common characteristics but two consumers are never common in nature
segmenting is done on the basis of habits, hobbies, income and purchasing technique of
consumers. Segmenting help the company to modify their outputs, content of adverting and
methods of promotion to correspond to the needs of particular segments Apple watch and
Fitbit both done their segmentation on the basis of Psychographic segmentation this include
consumers with the same demographic features might act in a different manner. Apple watch
done their segmentation on the basis of consumers life style their personality and on the other
hand Fitbit done their segmentation on the basis of age life cycle stage because they give
more focus on above 30 age group because their motive is to find those persons who are
finding motivation to be active where as Apple is not segmenting according to age groups
(Abeck, 2017).
Targeting – Market targeting is huge term which is used to explain the procedure of
selecting or identifying groups of consumers who are highly likely to purchase a specific
products and services. There are many approaches to the targeting procedure, with some of
them allowing for broad cultivation of market, while others are focused more on finding
markets that are small but effective (Muchiri, 2016).
Apple and Fitbit after segmenting then there is next step is targeting both the
companies first forecast task, they both done full market coverage targeting. Apple watches
adopt undifferentiated marketing they goes after the whole market with one market offer.
They usually focus on basic buyers needs rather than different among buyers. Apple design
their product and marketing programme that will appeal to broadest number of buyers.
Whereas Fitbit adopt differentiated marketing to target Fitbit operate in several market
segment and design different programs for each segment. Fitbit attempts to appeal to two or
more clearly defined market segments with specific products and their unique marketing
strategies which tailored to each of their separate segment (Fitriah, 2019).
Positioning – Products differentiation and positioning are key parts of company’s
marketing strategy and necessary to keep ahead of competition. A positioning strategy is one

of most important factors in marketing business. If a market’s products are different or stands
out above others and it find correct way, place and time to market it, marketer has created a
positioning. Apple and Fitbit first goal are to inform customers who are not necessarily aware
of the advantages of their products. Positioning is directly related to customers. At the time of
positioning both the company Apple watch and Fitbit first identify their competitors and
determine how their competitors are perceived and evaluated they both are competitor brand.
Both the companies done positioning on the basis of their products use or application, they
show how their product is to be used because they both have different and unique features.
But Fitbit focuses on usage time positioning because their some products choose to pre-empt
usage time for positioning purpose (Sudari, 2019).
CONCLUSION
After a brief analysis of above report, it has been concluded that to enhance as well as
improve the efficiency of business it is important to adopt marketing mix carefully. Each and
every firm look for new opportunity/competitive advantage in market and by applying
principles of marketing it become easy to compete with rivals & survive in market

appropriately. Further STP approach has been discussed which is also necessary for
development as well as growth of business. Segmentation, Targeting and positioning are used
for developing strategies in marketing. Thus, both MM as well as STP’s are the methods
through which goals and competitive advantage is achieved in proper manner.
REFERENCES
Books & Journal:
Abeck, 2017. Marketing mix diversification in Retail: The case of Sim Delice in
Cameroon.Unpublished Thesis, Aalborg University.

Muchiri, 2016.The Effectiveness of Marketing Mix Strategies On Performance Of Kenol
Kobil Limited(Doctoral dissertation, Thesis. University of Nairobi).
Sudari, 2019. Measuring the critical effect of marketing mix on customer loyalty through
customer satisfaction in food and beverage products.Management Science
Letters,9(9), pp.1385-1396.
Fitriah, 2019. The Effects of Marketing Mix on Small Fish Farming Business
Performance.Revista Publicando,6(19), pp.1-16.
Yerasi, 2019. Apple Watch detecting high-grade block after transcatheter aortic valve
implantation.European Heart Journal.
Scquizzato, 2020. Assessment of noise levels in the intensive care unit using Apple
Watch.Critical Care,24(1), pp.1-3.
Ramirez, 2020. Using Fitbit Competitions to Increase Physical Activity in College Students.
InInternational Journal of Exercise Science: Conference Proceedings (Vol. 2, No. 12,
p. 31).
Fuller, 2020. Replication Data for: Using machine learning methods to predict physical
activity types with Apple Watch and Fitbit data using indirect calorimetry as the
criterion.
DIXIT, 2020. Segmentation, Targeting & Positioning-Principles of Marketing.
Tomassa, 2020. Developing a Marketing Strategy Based on Market Segmentation Through
Clustering Method in Food and Beverage Industry in Bandung: Case Study of Bola
Ubi Yama.KnE Social Sciences, pp.1080-1105.
Waller, 2020. Positioning for a Competitive Advantage. InPersonal Brand Management(pp.
51-65). Springer, Cham.
Hanafi, 2020, February. Segmentation of Customers’ Experiences of YouTube Streaming
Application Users in South Jakarta using K-means Method. In2020 International
Conference on Smart Technology and Applications (ICoSTA)(pp. 1-5). IEEE.

Kaul, 2019. Segmenting and Targeting in Indian Market.ANVESHAK-International Journal
of Management,8(1), pp.121-125.