Principles of Marketing: Components, Segmentation, and Marketing Mix Analysis

Principles of
Marketing
Contents

INTRODUCTION...........................................................................................................................3
SECTION 1.....................................................................................................................................3
Components of the marketing planning process..........................................................................3
Environmental audit.....................................................................................................................4
Extended marketing mix 7Ps.......................................................................................................5
SECTION 2.....................................................................................................................................6
Segmentation...............................................................................................................................6
B2C target market........................................................................................................................7
Positioning...................................................................................................................................7
SECTION 3.....................................................................................................................................8
Marketing mix Analysis..............................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
The principle of marketing is considered as important tool that facilitates the organisation in
developing various strategies enables them to achieve their marketing objectives. They are
primarily enables the organisation in promoting their products and services as well as in
managing the product by determining various changes as per the taste and preference of the
customers (Armstrong, 2018). This report is based upon Hill's Vineyard that sells a better quality
wines to the local consumers and small retailers of UK. The company is planning to expand their
business and to support this meaning of various concept related to marketing will be developed
with the help of this report. The report includes analysis of marketing environment and the
planning process along with STP strategy. In addition to this the marketing mix of the
organisation are analysed later in the report.
SECTION 1
Components of the marketing planning process
With the increasing competition and in the digital marketing era with is important for the
organisation to plan their marketing activities with the help of various components so that they
can ensure success of the business components of marketing planning process are:
Scanning of marketing environment: With the help of scanning Hill’s Vineyard can determine
the favourable and unfavourable factors within the market along with various opportunities and
threats by analysing the impact each and every external factor.
Internal scanning: It will enable Hill’s Vineyard in identifying their strength and
weaknesses along with their competencies that can give them competitive advantage for
expansion of their products to overseas customers as well as to attract for Vineyard Tour (Felix,
Rauschnabel and Hinsch, 2017).
Determination of marketing objective: This component facilitates to identify the
objective of marketing and for Hill’s Vineyard objectives behind marketing is to attract UK
based visitors and tourist to the Vineyard Tour and for the sparkling wines by entering into new
market.
Formulation of marketing strategy: On the basis identification of above component
Hill’s Vineyard can formulate strategies in context of product price place promotion so that
objectives can be achieved.