Principles of Marketing: Target Market, Product/Brand, Price, Place, Promotion

Principles of
Marketing

Table of Contents
Introduction .....................................................................................................................................1
1. Target Market ..............................................................................................................................1
2. Product /Brand.............................................................................................................................2
3. Price.............................................................................................................................................3
4. Place ( Distribution) ....................................................................................................................4
5. Promotion ....................................................................................................................................4
Conclusion ......................................................................................................................................6
References .......................................................................................................................................7

Introduction
The definition of the marketing strategy suggested that it is one of the crucial role that
plays in the market on the basis of strongly analyse between products buying behaviour and
selling of the products. It also stated that marketing is one of the major aspect in business that
majorly focuses on the principles of marketing that are directly related to the buying behaviour
or consumers (HR and Aithal, 2020). The following discussion is firmly based on the target
market of two organisation, named as Lucozade and Red Bull energy drink. The report also
includes marketing mix framework for both the organisation and a comparative analysis between
them. Lucozade is one of the soft drink that manufactured by the Japanese company Suntory. It
Created as "Glucozade" in the United Kingdom in 1927 by a Newcastle pharmacist, William
Walker Hunte. In contrast to that, another organisation Red bull is one of the energy drink owned
by the Australian company Red Bull GmbH and it was created in 1987.
1. Target Market
A definition of the target market stated as the bunch of various consumer that has a single
aim to increase their efforts in the marketing and various resources. In the target market the
organisation wants to sell their products and services and work on the best of ability to increase
their sale and reputation in the market. Also, the organisation sets their target group on which
they majorly focus on selling their products and services and with whom they will directed the
marketing efforts. In relation with the targeting market of Lucozade, is a successful company in
the industry of energy and sports (Kurnianto, Pusaka and Ramdhani, 2019).
Researcher suggested that Lucozade mainly focuses on the mens that aged between 18 to
30 as the brand want to wider its target market beyond the performances in the sports. Suppose
taking an example, energy drinks of the Lucozade brand are not only made for the sports person
but also for the workers or labourers and this strategy of Lucozade seems out to be the best in the
market till now. In contrast to that, the energy drink of the Red Bull brand has the highest market
share amongst others in all over the world. It is because the target market of Red bull are the
young urban males or those who are extremely rich and aspire. Sports person, celebrities, urban
rich males are generally targeted consumers by the Red Bull organisation. Those consumers who
are extremely interested in various challenging activities and sports are greatly interested in this
energy drink. STP( Segmentation, Targeting and Positioning) is signified in the target market.
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