Principles of Marketing

Principles of Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Target Market.........................................................................................................................1
Product/Brand.........................................................................................................................2
Price........................................................................................................................................3
Place.......................................................................................................................................4
Promotion...............................................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCE...................................................................................................................................8

INTRODUCTION
Marketing mix refers to the appropriate foundation model for businesses which consist
different types of marketing principles such as product, price, place and promotion. Therefore,
the marketing mix can be defined as the tool which is used by firms to achieve organizational
goals and objectives in order to target market effectively. In this assignment two organizations
has been selected named as Lucozade Energy, it is a soft drink Japanese brand which was formed
in the year of 1927 in UK. Whereas, Red Bull is an energy drink Austrian organization was
formulated in 1987. Moreover discussion will be based on effectiveness of marketing mix in
context with both organization (Ateke and Kalu, 2016). Lastly knowledge STP marketing
planning process will get covered.
TASK 1
Target Market
Within the term of marketing segmentation, targeting and positioning is a wide concept
that simplifies and explain the entire process of target market segmentation. In order to target
market is the effective process which is done by large number groups of people. With the help of
this firm can easily identify different types of segment stages which is more profitable in order to
run business in a smooth manner.
In context with Lucozade Energy, it is generally known as sports energy drink. In order
to entire target market they always use advertising and sponsorship as a tool for promote its
product at large level. On the other hand, their advertisements on TV generally keep pace with
their changes in target market. For better knowing about this brand so for the very first time it
used this drink to increase energy of sick and ill children so that they were always first target
market including mothers and children. But during the current scenario this company focusing on
sports lover and athletes therefore, Daley Thompson and Olympic decathlon champion showed
in the TV advertisement. By having this type of advertisement they can easily target teenagers at
new market and able to achieve its desired goals (Bhattacharya, 2016).
In the case of Red Bull for better target market generally based on population which is
targeted by an organization in order to sell their energy drinks in a proper way. Along with this,
for making better image in the market era they always target urban and rural areas globally. By
following assorted scenario they always use demographic and geographic segmentation in which
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