principles of marketing

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PRINCIPLES OF
MARKETING

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................3
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Summarise the Organizations Current Situation.........................................................................3
STP Model...................................................................................................................................4
7Ps of Marketing Mix..................................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

EXECUTIVE SUMMARY
Main issues with businesses are that the competition in the market is increasing and that
to be maintained there must be a good marketing strategy which needs to be present. The
company will have to adopt a lot of online platform methods for marketing strategies so that
there is going to be a better functioning. There are a lot of strategies and with experience and
skills there has to be a good selection for Iceland food limited. Issues are that there is going to be
higher sales and products are going to have a good functioning in the market by using this factor
effectively.
INTRODUCTION
Marketing functioning of Iceland food Ltd is a private organization and is belonging from
the retailing industry. The company was established in 1970 and has its headquarters in Wales,
United Kingdom. Number of locations which Iceland Food Ltd is having is more than 1000 as of
2020 which is a great growth for the business to have in the market. The company is dealing with
frozen food and groceries from which the net income of the organization £157 million as of
2019, number of employees in the organization are 23,000. The organization has to have good
marketing functioning so that there is going to be better operations which can take place and that
is going to make the organization be able to have good profitability.
MAIN BODY
Summarise the Organizations Current Situation
The current situation of the organization is that there has to be a good functioning and for
that Iceland Food Ltd will have to increase their marketing functioning so that there is going to
be a better operation which can take place. There has to be good decisions which have to be
taken after analysing the market which is going to be very helpful for a long run and the
company will be able to benefit from it (Kupec, 2018). There is a lot of investment which the
company will have to make for the promotions which is going to be very good for the overall
operations. Collecting the right data is essential so that the further changes in the company are
going to be done accordingly which would be very helpful. There must be a good target which

the marketing functioning must have and also be able to maintain the internal factors as well
according to them so that the company can benefit from it (VOROZHBIT and ASTAKHOVA,
2017).
STP Model
STP model is the best marketing strategy which follows by lots of organisations and
companies in market place. Generally, STP model has provided a productive framework to the
companies for running own various marketing activities in proper way. In this situation, the
marketing department at Iceland foods need to focus on implementing STP model in its place of
work. With the help of this STP marketing strategy, this food retail company will able to boost
own performance within the selected market place. STP term mainly indicates three marketing
stages called; segmentation, promotion and targeting, so that these all three STP’s stages has
been mentioned below;
Segmentation
Segmentation is the stage within STP model where marketing management of the Iceland
foods need for dividing its whole the large market into small market segments (Brewis, 2016).
The marketing management can be divided own whole the large market according to many
aspects and factors, like; demographically, geographically, behaviour wise, nature wise, etc. This
STP stage mainly provides chance to company to save its many precious resources and time.
Reason is, there are dividing the whole large market into small market segments mostly aware
business about the accurate needs and demands of customers or people. That’s why this is too
important to marketing management of this company for conducting stage of segmentation of the
STP model.
Targeting
Targeting is the stage within STP model where the marketing management of Iceland
foods need to target own customers according to their various factors or aspects called;
customers’ attitude, interest, ethnicity, community and religion etc. Through targeting customers
according to these aspects or factors, company can enable for systematically fulfilling various
needs, demands and wants of customers. Sometimes, customers have various perceptions also
about any company or brand, so that marketing team need for positively changing customers’

perception by properly targeting them. Basically, currently many of customers in the United
Kingdom has too positive perception for Iceland foods, because this food retail company always
provides too quality services & products to various customers in market segments.
Positioning
Positioning is the last stage within this model where top-level management need to give
order to own marketing department to effectively operate various marketing campaigns within
various market’s targeted segments (Finchum, Marr and White, 2019). In these marketing
campaigns, the company need to use lots of productive and useful marketing strategies. With the
help of these marketing strategies, Iceland foods will able for positively influencing various
customers within market, and lastly lots of customers will easily make decisions for buying
various services & products only through Iceland foods. On the other hand, this food retail
company need develop its distribution channel or supply chain also to offer its various services
& products to different customers on time within many market segments.
7Ps of Marketing Mix
This is very appropriate marketing strategies to different businesses, in which marketing
management of Iceland foods should be used this strategy for effectively promoting its brand.
There are seven Ps of marketing mix strategy has been decried below;
Product: Iceland foods ltd. serves its various products & services in many countries including
the United Kingdom (Joshi, 2020). This food retail company mainly serves a wide range of food
items in the international, national and regional market places. Top-level management of this
company is always researching for innovating new exclusive products. Iceland company’s pizza
is very famous in across the UK.
Price: Iceland foods’ upper level management mainly has used strategy of value-based pricing,
in which mentioned pricing strategy make able to this food retail company to charge rate through
customers on the basis of market value of products. Generally, strategy of value-based pricing
also uses by the management on that time when company sells own premium products.
Sometimes, this company has used strategy of competitive based pricing also for achieving
higher competitive advantage within market place.

Place: The company’s main market place is not only its home country the United Kingdom,
because currently this serves its services and products in many other countries as well. For
example; there are Ireland and Paris also key market places to this food retail company. On the
other side, existing management of company still has focused on more and more developing its
business operations within many new places of international market.
Promotion: The marketing team at Iceland Foods is also too energetic in own job role. Reason
is, this team always runs too effective as well as productive advertisements within different
market segments for promoting its brand at the very large scale. Existing marketing manager
within Iceland foods mostly believes to use modern or latest marketing strategies within own
operations for effectively promote its brand.
People: Top-level management of this food retail company has believed in maintaining very
effective relations with its various people like; employees and customers (Melamed, 2017).
Nowadays the Iceland foods maintains too productive employee relations, in which these
relations have too positively impacted to employees’ performance in workplace.
Process: Nowadays, Iceland foods takes many of advantages by its strong supply chain. This
supply chain enables to company for delivering its various products and services to its customers
in decided time period.
Physical evidence: There are Iceland foods’ stores and supermarkets also too favourable to
different customers, in which many customers are too much like for visiting in company’s stores
& supermarkets. Generally, employees and staff at Iceland foods has provided each information
to various customers in stores. Interaction values of this food retail company’s employees are
very effective and attractive, so they simply able to provide very appropriate experience to many
customers.
Evaluation
The management at Iceland foods need to continue operating its different operations of
marketing within market segments. Nowadays major competitors of Iceland foods, like; Asda,
Marks and Spencer, Tesco, Morrisons etc. are also trying boost their marketing function by
running productive campaigns marketing within different segments of market. In this situation,

the marketing department at Iceland foods ltd (Pandita and Mehta, 2019). need to be too active
within own job role for effectively implementing seven Ps of marketing strategy for gaining
higher competitive advantage within food retail sector the United Kingdom.
CONCLUSION
From the above report it can be concluded that the businesses in the market have to have
a good marketing strategy for themselves. The businesses in the market have to have a good
marketing functioning so that there is going to be a better operation and the business will get a
better profitability. There is an improvement which businesses have to get in with time so that
they will be able to operate effectively in the market. There are a lot of opportunities which are
present in the market and that is going to make the organization have a good functioning overall.

REFERENCES
Books & Journals
Brewis, C. C. R., 2016. To What Extent Are UK Companies Using Big Data to Inform Their
Marketing Strategy? (Doctoral dissertation, The Open University).
Finchum, A., Marr, J. and White, M., 2019. MISSION AMARILLO–A NON-PROFIT
MARKETING PLAN CASE STUDY. Copyright 2019 by Institute for Global Business
Research, Nashville. TN. USA. p.41.
Joshi, V. C., 2020. E-Marketing. In Digital Finance, Bits and Bytes (pp. 165-189). Palgrave
Macmillan, Singapore.
Kupec, V., 2018. First Step of Marketing Audit: Risk Analysis. Marketing Identity. 6(1/1).
pp.370-380.
Melamed, M., 2017. Online Marketing Plan for a Travel Company.
Pandita, S. and Mehta, S. K., 2019. Impact of Perceived Value on Customer
Loyalty. Management Insight. 15(1). pp.67-80.
VOROZHBIT, O.Y. and ASTAKHOVA, E.V., 2017. Theoretical Foundations of Developing the
Concept of International Marketing. Espacios. 38(62). pp.10-10.