Principles of Marketing (Distinction Criteria) - Desklib

Business
Principles of Marketing
Assignment

Table of Contents
Principles of Marketing :............................................................................................................3
INTRODUCTION......................................................................................................................3
Section 1.....................................................................................................................................3
Explain the components of the marketing planning process and outline the marketing
context for the new soft drink products with particular reference to the role / importance of
adopting a marketing orientation and its application to the business....................................3
Carry out a brief environmental audit in the form of a PESTEL analysis for the new soft
drink ensuring that you a detail specific market related facts that are fully referenced........6
Outline the expended marketing mix 7P's and explain how the extended marketing mix
contribute to effective marketing planning............................................................................9
Section 2...................................................................................................................................10
Explain how the market for the new soft drink product might be segmented for customer
(B2C) and business (B2B) market.......................................................................................10
Discuss targeting methods that could be used for the B2C market and who you would
primarily target with this new product in terms of characteristics......................................11
Explain what is meant by the term 'positioning' and suggest how the new soft drink
product would be positioned in minds of targeted market..................................................13
Section 3...................................................................................................................................14
Marketing mix analysis.......................................................................................................14
CONCLUSION........................................................................................................................18
REFERENCES.........................................................................................................................19
Online-......................................................................................................................................20
Principles of Marketing :

INTRODUCTION
Principles of marketing is basically a combination of various rules and regulations
which is utilized by organization for keeping transparency in their business (Grewal and et.
al., 2020). The name of their new soft drink is Immune Booster which is made up of natural
ingredients with zero sugar and no added colour and the selected location for launching their
new product is Denmark. The report will cover explain the component of marketing
planning process and outline the marketing context for the new soft drink. It further covers
brief environmental audit in form of a PESTEL analysis for new soft drink product ensuring
that you detail specific market related facts.
Section 1
Explain the components of the marketing planning process and outline the marketing
context for the new soft drink products with particular reference to the role /
importance of adopting a marketing orientation and its application to the business
Marketing planning process is basically a procedure or technique which is used by
company for run their activities in systematic manner.
 Market Research: - This component is being considered as the backbone of the
marketing planning process (Appel and et. al., 2020). In context to the organisation of
Immune Booster, management first have to identify the buying habits of the Denmark
customers and analyse the demand of the healthy juice in the market.
 Market Strategy: - this is basically the core of the marketing planning process
(Hodgkins and et. al., 2019). Social media methods, direct mail, email, messages help
them in attracting the huge customers base for the healthy fruits juice.

 Budget: - this is basically the plan to spend on the marketing of the product launch in
the market. The budget for the Immune Booster has been discussed below: -
Particulars Cost( Kr.)
Advertising 1500
Human resource 2000
Research 1600
Promotional 2500
Importance of adopting marketing orientation and its application
There is various importance for adapting marketing orientation and its application by
organization. Those importance of adopting marketing orientation and its application has
been discussed below: -
 Increasing sales: -In aspect of increasing sales, management of Immune Booster
needs to focus on providing high quality product to customers according to their
needs and desires (Loder, Rayhill and Burch, 2018).
 Market orientation is the customer centric approach to the product design where
companies mainly focus what their targeted customers prefer and demanded for the
new product (Shaltoni and et. al., 2018). Here, the main aim of companies is to satisfy
their targeted customers. In context of Immune Booster soft drink, it can adopt
product orientation which basically focuses on the quality and performance of
products and services. The main goal of this approach is to adopt innovation and
continuous improvement. Here, the new product is launched to solve the existing
problem of the customers and recently the COVID disease which is caused by Corona
virus. The soft drink will develop strong immune system of customers which further
help them to fight with various other diseases like illness, tiredness and many others.
Here, the companies maintain good relationship with their customers and help them to
meet their needs (Karpavicius and Balezentis, 2021).
Carry out a brief environmental audit in the form of a PESTEL analysis for the new
soft drink ensuring that you a detail specific market related facts that are fully
referenced
Environmental audit is a type of measurement tool which analyse the current environment
of a business and the opportunities to achieve success.
PESTEL Analysis -