Principles of Marketing

This presentation focuses on the principles of marketing and the importance of branding. It covers topics such as market trends using PESTLE analysis, brand extension, and the explanation of a new product and target market. The presentation also includes insights into the Ansoff's Grid, competitor analysis, and the concept of line extension. The conclusion summarizes the key points discussed in the presentation.

Principles of Marketing

TABLE OF CONTENT
 Introduction
 Background of chosen brand
 Coverage of market trends using PESTLE analysis
 Explanation of new product and target market
 Brand Extension
 Conclusion
 References

INTRODUCTION
 Marketing is the study as well as management of exchange relationship,
further it is the process of maintaining relationship with and satisfy
customer's needs.
 In the same way, the presentation main aim is to describe the importance
of marketing.
 Chosen firm for this presentation is Ben & Jerry which offer sugar free
ice cream to the customers of UK and now It wants to expand its business
to be a chocolate bar ice who offer sugar free ice-cream.

Background of chosen brand
 Brand is the particular name that is given to the product and its service that
helps to identify it from others. Therefore, it can create and stand for
loyalty, faith and mass market appeal as well.
 Brand extension is that market strategy where a new product is further
launch under its existing brand. It may be possible that the category in
which the product is launched may be related or unrelated to the brand's
category.
 Brand extension is necessary because it helps to increases brand image and
the chances of risk in decrease.
 Through this, the efficiency of promotional expenditure increases and
consumer are also seek for a variety as well.

Coverage of market trends using PESTLE analysis
 In order to determine the market trend, it is quite necessary to use
PESTLE analysis that helps to determine the macro factors that affect the
outer environment, which is as mention below:
 Political Factor:
 As, people are quite concern about their health and in UK the political
factors have also altered the food related business and there is increasing
focus on maintaining health and safety standards. Such that it creates an
opportunity for Ben & Jerry to provide those products which show
concern to the customers such that new Chocolate bar with no added
sugar.

CONTINUED...
Economical Factor:
 Even the economic stability and strong market of the country also helps
Ben & Jerry to expand its ice cream market to chocolate bar, as it can
penetrates due to its brand value and cost effectiveness due to established
economies of scale.
 Such that it creates an opportunities to expand its current business.

Explanation of new product and target market
Kepferer's Brand identity Prism
 Using this model, Ben & Jerry can easily understand how the element
help business to be strong brand and also assist them to communicate
clearly and transparently. This sia s mentioned below:

CONTINUED...
Physique:
 It means the basic characteristics of the products and services which are sell
under the name of a brand.
 In the context of Ben & Jerry, its unique packaging for its new chocolate bar
with its different flavours differentiate it from others.
 That is why the customers are attracted towards it and as a result, the brand
image is sustain with increasing sales.
Personality:
 The personality comes to represent the brand itself and the customers who
associated with it directly.
 Therefore, to convey the brand personality, the company uses a specific style
of writing, tone and colours.
 In the same way, Ben & jerry also uses “I would live by everyday” for
promoting its new chocolate bar with no sugar ice cream with blue colour to
communicate the delicious flavour of ice cream through its brand personality.

CONTINUED...
Self- Image:
 It refers to the way in which the customers can see themselves in the
particular brand and at that time, brand also use self-image to its own
leverage.
 Further, it is like a mirror that hold up to itself. For example, Ben and
Jerry also launches a campaign for the poor people in order to address the
issues of poverty in America.
Reflection:
 In this element, the brand reflect the personality and also identify the
target market.
 In the same way, Ben & jerry also depicts their customer base as a fun,
friendly teenagers because doing to creative will help to create positive
impression upon the brand and people will enjoy its products as well.

CONTINUED...
Ansoff's Grid:
 It is the strategic planning tool that helps to describe the strategies for
future growth and there are four different strategies which the company
may chooses such as:
Market Penetration:
 It is one of the least risky strategy in which the firm wants to offers its
existing resources and products to existing market.
 This helps to gain market share, if competitors reaches capacity limits and
as a result, it will help to grow the business in further level of success.

CONTINUED....
Diversification:
 It is consider one of the most risky strategy, because the business is
moving into new market in which company offer new product in new
market.
 Such that if the firm uses this strategy then it should have a clear idea
about the market and its risk as well.
 Among all, the Ben & Jerry uses product development as a growth
strategy because the firm wants to extend its business from chocolate bar
where it offer low sugar free ice cream to their customers.
 It is quite helpful for the firm because the strategy may also require the
development of new competencies and also require a business to develop
modified products as well.

Competitor Analysis:
Particulars Ben & jerry Carvel Perry
Product It offer ice cream
pints, Pint slices,
non- dairy pints,
cores pints etc.
It offer different
different
flavoured ice
cream and custom
cakes as well.
Different ice
cream products,
dairy products
and frozen
yogurt.
Price It uses
competitive
pricing strategy
It uses seasonal
pricing strategy It uses both
seasonal and
competitive
pricing strategy
Promtional tool Uses only modern
promotional tool
such as social
media, website
etc.
It uses modern
promotional tool Uses both
traditional and
modern
promotional tools.

Visual Image : Brand Extension of Ben & jerry

Continued...
Tauber's Brand extension option:
 for brand extension, the Ben & jerry may also use line extension as an
option because it occur when the company introduce a new or additional
item in the same product category under the same flavour.
 This is exactly, Ben & Jerry do such that it wants to introduce the
chocolate bar with no extra sugar ice cream with its same product line
under the same brand.
 Therefore, line extension is consider a good option for the quoted firm
because it is the use of an established product brand name for some new
item in the same category.

CONCLUSION
 By summing up above presentation, it has been concluded that the
branding plays an effective role in every business.
 From the presentation, it is also concluded that by using Pestle analysis,
te macro factors are determined easily that affect external environment.
 Further, it has been concluded that by using product development
strategy, it can grow its business and it faces tough competition in market
as well. So that it has to develop the strategy to overcome the issues as
well.
 Using Line extension as a Tauber's brand extension strategy, it can also
extend its brand as well.

REFERENCE
Books and Journals
Aman, H., 2015. Online branding strategies-modern branding aid for SME (s).
Dawes, J., 2018. The Ansoff Matrix: A Legendary Tool, But with Two Logical Problems. But with Two Logical Problems
(February 27, 2018).
Gurcaylilar-Yenidogan, T. and Aksoy, S., 2018. Applying Ansoff’S Growth Strategy Matrix To Innovation Classification.
International Journal of Innovation Management.22(04). p.1850039.
Hayran, C. and Gürhan-Canli, Z., 2016. Brand extensions. In The Routledge Companion to Contemporary Brand
Management (pp. 168-184). Routledge.
Nandonde, F. A., 2019. A PESTLE analysis of international retailing in the East African Community. Global Business and
Organizational Excellence.38(4). pp.54-61.
Palmeira, M., Lei, J. and Valenzuela, A., 2019. Impact of vertical line extensions on brand attitudes and new extensions: The
roles of judgment focus, comparative set and positioning. European Journal of Marketing.53(2). pp.299-319.
Romeo, J. R. and Dodds, W. B., 2015. The effects of brand quality and price on the evaluation of brand extensions. In
Proceedings of the 1996 Academy of Marketing Science (AMS) Annual Conference (pp. 282-288). Springer, Cham.
Spooner, A. L., 2018. Service branding: driving customer engagement and growth through brand image?.
Zamberi Ahmad, S. and Rahim Abu Bakar, A., 2018. Emirates Dates: a case of growth strategy dilemma. Emerald Emerging
Markets Case Studies. 8(3). pp.1-14.