Principles of Marketing - Environment and Planning Process

Principles of Marketing
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Date of Submission:
Word Count:3161

Table of Contents
Introduction:............................................................................................................3
LOs 1 & 2.................................................................................................................3
Section 1 - Marketing Environment and Planning Process:...............................3
Elements of Marketing Planning Process:............................................................3
Marketing Environment:........................................................................................4
The Extended Marketing Mix (7Ps):.....................................................................5
LO 3..........................................................................................................................6
Section 2 - Segmentation, Targeting & Positioning:............................................6
Segmentation:..........................................................................................................6
Targeting:.................................................................................................................6
Positioning:...............................................................................................................7
LOs 4 & 5.................................................................................................................8
Section 3 – Marketing Mix Analysis:.....................................................................8
References:.............................................................................................................10

Introduction:
The marketing ideas that a company uses for an operative marketing strategy which are agreed-
upon by the different officials, directly or indirectly related to the company are the Principles of
Marketing. The soft drink manufacturer selected for the report is Paisley drinks company. This
report will introduce a brand-new soft drink in United Kingdom named “Pina Colada”.
Reviewing the market analysis of this new soft drink in order to guarantee the success of this
new product in the market and moreover make a global reach of the company is the sole purpose
of this report.
LOs 1 & 2
Section 1 - Marketing Environment and Planning Process:
Elements of Marketing Planning Process:
A systematical and operational approach for planning, estimating and keeping all the marketing
needs and objectives in coordination is the Marketing Planning Process. In most cases, it is an
annual process which covers the whole planning of the year forward. Under this planning
process Paisley Drinks Company needs to find a way to discover the exact needs of the
customers and include it in their new line of soft drinks. This planning process can be outlined or
modelled in a series of steps: Situation analysis to identify opportunities, formulating a
marketing strategy, marketing mix decisions are made, implementation of the plan while keeping
everything under control through precise monitoring, sales and budget.
Situation Analysis: Analyzing the whole situation of the soft drink company which it is in will
serve as the root to identify the needs and demands of the unfulfilled customers. The company
should also keep in mind their own capabilities and the environment in which they are functional
or want to be functional in further future. As a result, the company can take further attempts to
fulfill demands within their own capabilities to advance in the market Example: 5C analysis, Pest
analysis, SWOT analysis etc.
Marketing Strategy: A solid plan to reach out to potential consumers to get paid from them for
the provided goods and services is a Company’s Marketing Strategy. After identifying the needs
of the customers, the company can then develop their strategic plan to fulfill their demand
keeping in account their own limits and capabilities. This vigorous strategic planning helps reach
the targeted audience including also those who have never heard of the brand and thus deliver the
company with an edge over its competition.
Marketing Mix Decisions: The set of actions or tactics that a company implements to promote
its brand value or a product in market is known as Marketing Mix Decisions. It includes: Pricing
decisions, developing Product, distribution to wide range of Places and Promotion. These are
known as the 4P’s of marketing.
Implementation and Control: At this stage of marketing process, all the planning done before
has been implemented and the desired product has been launched. Careful observation of the