Principles of Marketing: Components, PESTLE Analysis, Extended Marketing Mix, Targeting Methods, and Marketing Mix Analysis for Stay Fit Soft Drink

This report discusses the principles of marketing and their importance in developing effective marketing strategies. It covers the components of the marketing planning process, PESTLE analysis, extended marketing mix, targeting methods, and marketing mix analysis for Stay Fit Soft Drink. The report also includes a discussion on segmentation, targeting, and positioning for B2C and B2B markets. The subject, course code, and college/university are not mentioned.

Principles of
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
SECTION 1 .....................................................................................................................................1
Components of marketing process and importance................................................................1
PESTLE analysis and micro-environmental factors...............................................................2
Extended marketing mix and its contribution to effective marketing planning.....................4
SECTION 2 .....................................................................................................................................4
Evaluate the market for Stay fit soft drink product that might be segmented for consumer
(B2C) and business (B2B) market..........................................................................................4
Evaluate targeting methods used for B2C market .................................................................5
Positioning of the product Stay fit soft drink in mind of target market.................................6
SECTION 3......................................................................................................................................7
Marketing mix analysis .......................................................................................................7
CONCLUSION..............................................................................................................................10
REFERENCES .............................................................................................................................12

INTRODUCTION
Marketing principles is a base of marketing ideas of companies that are use for effective
marketing strategy, the principles on which organisations products are build for promotion
strategies. In order to start the business in the soft drink industry, the brand name is “Stay Fit”
which will be running their operations in UK and other developing countries. The target audience
of the organisation will be young adults and young generation.(Cannon, Lohtia and Paulich,
2021) In this report there will be a discussion about marketing planning process components
with importance of adopting a marketing orientation. Also there will be a external analysis that
may effect new product success in market through the helps of PESTLE analysis, with this there
will be a evaluation of extended marketing mix 7ps and its contribution in effective marketing
planning. There will be market analysis through the help of segmentation, targeting and
positioning. Lastly there will be a thorough analysis of marketing mix based on target market
with consider of environmental factors.
MAIN BODY
SECTION 1
Components of marketing process and importance
Marketing process is a steps that allows organisations to identify problems of customers
through analyse opportunities of market it will also helps in creating materials of marketing to
reach the desired audience. The marketing planning process is a methodological and systematic
approach for frosting, coordination and planning marketings objectives & needs, it is a structure
through systematic approach in developing, execution, evaluation and implementation strategies
of marketing. (Shkeer and Awang, 2019) There are various components of marketing planning
process that are mentioned below;
Market research- Research of market is baseline of any marketing plan, it helps identify
consumers buying nature in industry, during market growth or decline, in market size and during
any current market trends. In context of introducing new product into market, market research
will helps identifying the environment and current nature of customers behaviour.
Target market- Selecting market target describes to identify customer for attracting
towards new product, in reference of introducing healthy soft drinks in market selecting target
market is important it will helps to attract specific audience.
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Positioning- It helps to identifying current market position of brand, it will helps in
developing strategies according to position and improving brand to introduce new product in
market.(Kizi, 2021) In context to soft drink product it becomes important for brand to know its
current position before introducing it, as it will provide a image of its position and how
customers are reacting towards brand and according to it company will develop necessary
changes for improving the position in market.
Competitive analysis- this analysis helps in identifying any competitors in market of
brand, in context to soft drink product it will helpful to understand and identifying the
competitors of company to understand and develop actions to compete with them.
Market strategy- The strategies of market is a path for organisations to set goals and plan,
it includes specific tactics through which company will set goals for marketing of new products.
In context to soft drink product it is important to do market strategies to plan and set goals of
marketing the product.
Budget- it helps to schedule budget related to introducing new products in market. In
references to soft drink product (Roy and Sharif, 2022)it is important to make a budget for every
little detail requirement needed during introducing of product in market.
Marketing planning is important as it helps in setting co-ordination all managerial
activities of company, in order to achieve overall objectives and goals of the organisation.
PESTLE analysis and micro-environmental factors
PESTLE ANALYSIS
PESTLE analysis helps in identifying external factors that can affect organisation
operation, this can be used in different range of scenarios that helps providing guide to
professional, senior manager in order to make strategic decision-making. In context to stay fit
soft drink the analysis is mentioned below;
Political factor-
There are various rules and regulation company needs to follow before
introducing soft drink in market such as, getting approval from FDA given by government to put
products in stores. (Kreutzer, 2019) Changes in establishing law may prevent Stay fit from
introducing drinks factors such as, taxes, accounting, labour laws and internal marketing can
affect company.
Economical factor-
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As Stay fit soft drink wants to operates in UK and some other countries and due to
different cultures, tastes, desires and customs can affect operation of company, due to which
company needs to update various changes to accommodate according to customs.
Social factor-
In current trends people are more concerned about their health due to which it
affect major soft drinks companies, because Stay fit soft drinks is based on zero sugar and
according to health issues this may not affect company during introducing of product. But there
is constant changes in taste and trends in market due to which it may affect brand in future.
Technological factor-
To provide better and higher quality products Stay fit needs to adapt technology
such as, machinery for manufacturing products and also to ensure fast delivery and quality
products development.(YANG and YUAN, 2018, August) There are various technology through
which company use to connect with their target audience and launch their new products includes,
social media and digital marketing.
Legal factor-
There are various legal formalities which company needs to follow in order to
introduce new product in market such as, patent process and various other legal policies. If brand
fails to adapt these policies it may affect product launch and future success & growth in market.
Environmental factor-
There are various environmental factors that may affect brand gaols and
objectives in introducing new product in market. Before entering in market enterprise needs to
evaluate the environmental standards that are necessary for operation in that market, there are
various factor that organisation needs to take them into consideration such as, weather, climate
change, laws regulating environmental pollution, recycling, waste management system, attitudes
towards support in renewable energy, green or ecological products.
Micro-external environmental factors
 Dominant competitor- There are various dominant competitor already existing in
market of UK and internationally such as, Coca-Cola Co and PepsiCo. They held
the largest market share in soft drink industry with their combined market share in
globally.
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 Technology- There is constant change in technology and with bringing new
product in market enterprise needs to take that into consideration and adapt new
technology in operation and production level of the company.(Solimun and
Fernandes, 2018)
 Weather conditions- With recent global pandemic issue people are concerned
about their health more than before and this might affect company goals, to avoid
such problems in future firm needs to take weather conditions into consideration
and develop changes accordingly.
Extended marketing mix and its contribution to effective marketing planning
The marketing mix is a set of tactics, action that enterprise can use to promote their
product and brand in market to customers. (Hunt and Madhavaram, 2020)It also help in making
sure that company is able to offer customer right products at right time and at right place at right
price. The extended marketing mix helps organisation in defining their marketing planning in a
rounded system,it also identify each portion of mix to give steps closer to functional for
completing marketing planning. Marketing mix helps in understanding service and product that
firm is offering to customer that helps in providing of product successfully it also helps in
developing, planning and executing of effective marketing strategies. It helps business to use
their strength in order to avoid unnecessary costs. Marketing mix provides a roadmap for
business objectives and it help in keeping track with focusing on target market, it ensure that
company is achieving marketing goals and objectives. (Parmer and et. al., 2021)There are
various benefits that marketing mix contribute in effectiveness of marketing planning such as, it
helps in providing a valuable guide of resource for allocation, it helps assign responsibilities for
functional level, it assist a communication process and it helps in providing an opportunity to
analyse cost benefits for marketing.
SECTION 2
Evaluate the market for Stay fit soft drink product that might be segmented for consumer (B2C)
and business (B2B) market.
Segmentation is a process for dividing a business's market target into groups of potential
audience with similar needs and behaviour, it will help to sell each customer group through using
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of distinct strategies for fulfilling their needs. The market segment of Stay fit soft drink product
through consumer (B2C) or Business (B2B) market are explained below;
Consumer (B2C) -
Business to consumer is a retail model where products were directly moved from
business to consumer, it involves exchanging of goods and services between business and
consumers. (Sathiyamoorthi and et. al., 2021) It refers to a process of selling products and
services directly between consumer and organisation, as most of the companies prefer B2C
market segment. Typically it refers to online selling of products and services to audience through
internet.
Business (B2B) -
Business to business is a type of electronic commerce in exchanging of products,
information or services between businesses. It refers to a transaction between two businesses and
characterized through large transaction amounts with more educated buyers and a multi-
stakeholder for approval process, (Chai and et. al., 2021)hence it a longer scale of cycle.
Stay fit soft drink company can use B2C market segment for introducing and offering
product directly to their customers, as consumer are preferring their products and service based
on immediate need with more quickly and less research without any due diligence than business
can conduct. This allows marketers a small window opportunity to influence behaviour of
consumers.
The difference between B2B and B2C is that;
 B2B focus on market to value chain and B2C focus on market to end user.
 B2B is more about consumer than their products and B2C is more about product and
benefits than consumer.
Evaluate targeting methods used for B2C market
Targeting is a multi-segment marketing it is a marketing strategy that involves identifying
specific person or market for specific product, organisation use target marketing in term of
understanding their customer and create advertisement for specific group to increase the
response. It also means selecting potential consumers for businesses to sell their products, it
helps in segmenting the market and choosing proper segment for market through determine
products for each segment to offer. (Lopatin and et. al., 2019) There are various method of
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targeting through which Stay fit soft drink product can be offer in B2C market with
characteristics including benefit, behavioural, lifestyle and demographic are mentioned below;
Target audience- B2C companies are typically a large group of audience of individual
customers, Stay fit soft drink company can sell products to to target customers with key decision
making within organisation operation.
Behavioural targeting- It is a part of segment market customers through web browsing
behaviour that includes search performed, links clicked, product purchased and pages visited. In
context to Stay fit soft drink brand can behavioural target to attract customers, organisation can
identify current behaviour of customers through understanding their needs and demands towards
soft drink and identify their choices and target such customers for B2C market.
Primarily target for product in term of different characteristics such as,
 Demographic- choosing primarily customers in terms of demographic segment the target
audience should be young audience as the product is soft drink with focusing on health.
 Benefit- Benefit is satisfaction and use received by customer, as company is providing
healthy soft drink brand should focus audience that will be satisfied with the product
 Behavioural- It refers to nature of purchase and usage level. Firm should focus on
customers behaviour towards the enterprise new products launch and target such
audience.
 Lifestyle- Through choosing people with healthy lifestyle and demanding soft drinks
with more healthy are primarily target of the organisation.
Positioning of the product Stay fit soft drink in mind of target market.
Positioning is map where products are stands in relation to other similar product in target
market mind and also on customers, a good positioning make a product unique and it ensure that
customers are considering using the benefit of products. Positioning a product is refers to
establishing a image or identity of organisation's product so that customers can perceive in a
certain way. (Awopeju and et. al., 2022) Company can use different tools to showcase product in
traget market with providing offers and benefits that brand is offering through new product, this
way it will ensure that customers are focusing on brand. Organisation can position their product
in mind of target in five steps mentioned below;
1. Through understanding the use of product for customers.
2. Identifying the target market and persona that company is going for.
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3. Through determining the maturity level of market.
4. Through determining state of mind of target audience.
5. Lastly through tying every step together.
After following these steps company can ensure of getting attention from customer in order to set
all benefits and offers that customers can gain from the products will set into the mind of target
audience.
SECTION 3
Marketing mix analysis
Stay fit soft drink
Product It is a development of a habit of looking
product that company wants to offer in market.
Product refers to anything that is sold as a
physical product, experience or service, is
should be always going to be a centre of
marketing strategies and hence it will influence
different aspects of marketing mix. In context
to Stay fit soft drink product brand is offering
a healthy soft drink to customer.(Kumar, 2020)
Brand is offering product with low calorie add
with cane sugar and stevia extract. It is a
healthy drink made for people who are
preferring a healthy soft drink with zero sugar.
The product that company is offering in target
market segment is Stay fit soft drink.
Place Place is where companies product or service
are made, seen, distributed or seen, it means
have access for customers products of brand is
a key and it is important to ensure customers
can find the products. Place in marketing mix
refers to a geographical location where the
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company can sell their services or products,
location is most important part of strategy of
marketing. (Rėklaitis and Pilelienė, 2019)It
helps deciding where and how the product is
will be available to customers at right time and
right place in result to give maximum
advantages to business. In context to Soft drink
industry the company is providing Stay fit soft
drink in market of UK and also on online
websites.
Price Price refers to pricing strategy of products and
services and impact of it on customers, it helps
identifying the customers willingness to pay
the price range for products and with every
other aspects of products as overheads, profit
margin, payment methods and any other costs
related to products. It is method to determine
value of product that will get in exchange of
service or products. In reference to soft drink
industry for the product Stay fit as healthy soft
drink, company should focus on that price
should be too high that go beyond average
customers and neither too low that will give a
low quality impression on customers. The price
should be under medium price range so every
group of target audience can buy the product.
Promotion The promotional activities are used to make
customers aware about products or services, it
includes sales tactics, promotions, direct
marketing, advertising it generally referred to
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marketing tactics. It also refers to
communication that aims at promoting a
activity, product or a brand in target market,
for drive sales it involves both seller and buyer.
Promotion can also focus at building a
reputation of organisation rather than focusing
on increasing sales. (Gligor and Maloni,
2022)In context to soft drink industry for
launching new product as Stay fit soft drink
enterprise can promote the product through the
help of advertising, direct marketing or
through digital marketing. As the target
audience are young generation age group
between 12-35 digital marketing will best
medium to promote the product.
People People in marketing mix refers to anyone
relates in business side of enterprise directly or
indirectly, it means any involvement of selling
a product designing it, managing teams,
representing customer, marketing, recruiting
and training. It is important for firm to take
into consideration of all people who are related
to represent brand should be fully professionals
and have a intimate knowledge of product and
how it is improving the problems of audience.
In context to soft drink industry should focus
on strategic human resource management
related to in creating the Stay fit soft drink
product. Organisation should develop a habit
of thinking in terms of people inside and
outside of business that are responsible for
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every elements of creating product from
making to actually selling the products.
Physical evidence Physical evidence refers to everything that
consumers see when they are interacting with
business, it includes physical environment
where the product is provided, the layout or
interior design and packaging. In context to
soft drink industry the firm can focus on
proving product by showing packaging,
paperwork or internet/web pages through
customers can see the real product presence in
market.
Process Process refers to a processes that involves in
delivering the product or service to customers,
it is also having a good process in place to
make ensure that company is repeatedly deliver
same standards of quality to customers.
(Lahtinen, Dietrich and Rundle-Thiele, 2020)
In context to soft drink industry the company is
introducing Stay fit soft drink for which
organisation can use business to customer
process in order to provide product to their
customers through online websites or direct
selling of products.
CONCLUSION
From the above report it concluded that for introducing new soft drink as Stay fit,
organisation needs to focus on several aspects in order to provide product to their customers.
Enterprise can focus on making proper marketing planning and a process that helps in providing
baseline of marketing the product in market. With the help of PESTLE analysis brand can take
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necessary action for making sure that those factor can not affect companies goals. Through
marketing mix organisation ensure a marketing base of providing right product to right
customers at right place with right price through right promotion providing physical evidence
taking consider of people and a proper process ton reach to consumers. At last there is STP
analysis through organisation can ensure of choosing market segment in which company can
provide their product to target audience and position brand in targeted market.
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