Principles of Marketing: Importance and Application of 4Ps
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This study explores the importance of marketing and how it can assist organizations in increasing sales and market share. It focuses on the application of the 4Ps of marketing (Product, Pricing, Place, and Promotion) and discusses target markets, pricing strategies, and promotional strategies used by organizations.
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PRINCIPLES OF MARKETING
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EXECUTIVE SUMMARY The study has been made to describe the importance of marketing ie, how marketing can assist an organisation in increasing its sales and market share. The study has been made to describes the target markets of the customers ie, what types to markets the company is targeting to sell its products. The report contains the application of 4Ps of marketing, (Product, Pricing, Place and promotion). Thus, it also describes the various types of pricing strategies and promotional strategy used by the organisations.
Table of Contents EXECUTIVE SUMMARY............................................................................................................2 INTRODUCTION...........................................................................................................................1 TASK...............................................................................................................................................1 Application of 4Ps of marketing mix...........................................................................................1 CONCLUSION................................................................................................................................5 REFERENCES................................................................................................................................6
INTRODUCTION Marketing refers to the practices undertaken by an organisation to promote its products and services. Marketing includes activities like advertising, selling and distributin of goods to consumers. Head ande shoulders is an American brand of anti dandruff shampooswhich are manufactured by the parent company P&G introduced in 1961. The company. Pantene is an Swiss created American brand which offers hair care products. The brand is know for its two in one formula ie, shampoo plus conditioner. The study will highlight the analysis of effectiveness of 4Ps of marketing mix(Ackerman, Dommeyer and Gross, 2017). TASK Application of 4Ps of marketing mix. Head and shouldersPantene lady's shampoo Target MarketHead and shoulder focus on selling the products on the basis of social classandincomelevelofthe people. They sells its products on the basis of income level of public astheyofferhigherquality products at reasonable process The targetingmarketforHeadand shoulderaremiddleclasspeople whopreferstobuybranded products only(Aslam, 2018). The companytargetstheaudienceof middle age men's who are suffering from dandruff and scalp problems. H&S customers are mostly people who have low income level. The company also targets women's of middle age but they main focuses Panteneshampoofocusonmaking products on the basis of age and gender. The target market for Pantane is the women's ofaround 30-40 age. As the companymakesdifferenttypesof shampoosforwomen'slikedeep cleanser, curl perfection and shampoos for repairing and protecting hair loss understandingtheneedsfor different buyers(Epuran, and et.al., 2015). The companytargetstheaudiencewho preferstobuyshampoowhichis reasonable priced, convenient shampoo. Though the organisation also focuses on offering best conditioners which main targets on those ladies who are suffering from hair damage problems and hair loss problems. The aim of the brand is 1
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onmanufacturingantidandruff shampoo for middle age men's. As H&S is the no. world's no.1 anti dandruffshampoomanufacturing brand(Harahsheh,Haddadand Alshorman, 2019). toofferbetterqualityproductsto women's so that live a healthy lifestyle and feel confidentwith good looking hairs. ProductHead and shoulders is an growing hair care brand. The product makes promises to remove dandruff from hair and gives clean and healthy hairs to consumers. The packaging ofthetheproductisshapedin bottles.Companyfocuseson maintainingitspackagingof products(Harahsheh, Haddad and Alshorman,2019).Theproducts offered by head and shoulders are classic clean shampoo, instant relief shampoo,moisturecareshampoo etc. Pantene shampoo and conditioners are offered in different package size like 80ml. Company offers different types shampoos to its customers such as hair fallcontrolshampoo,antidandruff shampoo, total damage care shampoo and conditioners like hair fall control conditioner,dailymoisturerepair conditioneretc.Companiesmakes attractivepakagingtosothatitcan attract the customers(Kliuchnikova and Pobegaylov, 2016). PriceThe pricing strategyfollowed by Headandshoulderisreasonable pricing strategy. As the aim of the company is to attract and maintains theloyaltyofcustomers,the products offered are pocket friendly and easily affordable. The products areavailableindifferentsize packages one can make purchase according to their requirement and The pricing strategies which is followed by Pantene brand is competitive pricing strategy. The aim of the brand is to offer premium quality hair products to the consumers asthishelps in attracting newbuyersandassistinretaining existing old loyal consumer also. There is very tough competition in the market asthe otherbrandslikeNeutrogena, Dove,Tresemmearealsooffering 2
needs(Lusch,Vargo,S.L.and Gustafsson,2016).Thecompany alsoofferspromotionalpricing strategybyofferingvarious discounts to increase the sales. The organisationoffersdiscounts mainlyinsummersasthesales during that time is higher and this resultsingenerationofhigher volumesandmorerevenue.The pricesoftheproductsarekept reasonable as attract new customers andretain the existing customers. H&Sproductsareavailablein different sizes which ranges from 3ml pocket size packs available in 3rs to 675ml bottle packs at 370rs (Thorpe and Roper, 2019). similar quality products to its customers (Pelton, Strutton and Lumpkin, 2015). Thecompanyfollowscompetitive pricing strategy as the goods offered by Pantene are also similar to the other competitor'sproducts.Companyhas alsoadoptedvaluepricingpolicyso theycanmakeadjustmentwiththe purchasing power and dominating local conditions of specific place. Thus, this resultsinhighersalesandassistin generatingmoreprofitsandhigher revenues. PlaceHead and shoulders is an popular brand and its products are sold in many countries all over the world (Svensson,WoodandCallaghan, 2015). The company has made such a growth in the market because of thepenetratingpolicies,the company has successfully sells it productstothecountrieslike Pakistan,Canada,Bangladesh,UK and US. H&S is the subsidiary of P&Gsoitenjoysthegreat advantages of having a strong ande Pnatene is an product of P&G brand. P&G has an good distribution network all over the world due top the expertise and widest range of products(Svensson, Wood and Callaghan, 2015). The aim of P&G is to make the pantene products availableatmaximumretailoutlets, hypermarketsandsupermarketsand company make sure that the stocks are properly maintained ie, no shortage of products.Theorganisationhasan widests distribution networkand it the parentcompanyfordistribution 3
fastestdistributionnetwork.The products of the head and shoulders aretravelledfromdistributorto whole seller to the retail store and fromtherethegoodsarefinal reached to the consumers (Watkins, 2017).Theproductsofthe company are sold in supermarkets, hypermarkets, discount stores and alsoavailableonlineshopping websites. practices. Pantene has adopted retailers, wholesalers. The goods are taken out from the manufacturing plant and from there it is sent to carrying & forwarding agents. And from there the goods are transferredtoregionalstockist,who sends the stock to the wholesalers and retailers. As Pentane is an famous brand its products are easily available in all typesofretailoutletsmalls, supermarket,grocerystoresand discount outlets. Shampoos of pantene are also sold vie various e-portals and shopping websites (Watkins, 2017). PromotionHeadandShoulderstrustonits marketingteamfordosingthe promotional activities. It is the most recognised and trustable brand and itshaslaunchedmanyad campaignstogenerateand maintained visibility of brand in the market.Theaidsareshownon different TV channels and it is also displayed on newspapers, posters, magazinesandhoardings.The companyalsodocelebrity endorsement for marketing of the products(Lusch, Vargo, S.L. and Gustafsson, 2016). It shows famous personalitiesinthepastand beautifulmodelsintheir Pantene is an strong brand with greater brandrecall.Thecompanyadopted duifferentaggressivestrategiesfor marketingwhichincludesmaking advantageofmanyadvertisingtools. Pantene has created ad campign with thecelebritieslikePriyankaChopra, Iman,KatrinaKaifetc,allthese campaign are targeted on women with theadshighlightingthebenefitsof usingthe haircareproducts(Pelton, Strutton and Lumpkin, 2015). All these are broadcast by digital and print media like newspapers, radio, television and magazines.Panteneisusingsocial media platform like Facebook to market its products, as the Facebook page of 4
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advertisements. Indian models like Saif Ali Khan and kareena kapoor are featured in the ads from time to time. brand connects the customers with hair specialist and celebrities. Pnatene also givesadsonyoutubeofitshair products. CONCLUSION The study summarised that marketing plays and vital role in increasing the sales of the company. Marketing effort assist in improving loyalty of customer's towards brand and helps in enhancing overall brand identity. There are many tools by which marketing can be done such as televisions,newspapersandsocialmediaplatforms.Further,thestudyconcludes4psof marketing mix (product, place, price and promotion), price is an important factor which impacts overall sales of the the products as if company charges high prices for the goods it may not be easily purchased by customers, Larger amount of customers prefers to buy quality goods at reasonable prices. 5
REFERENCES Books and Journals Ackerman, D.S., Dommeyer, C.J. and Gross, B.L., 2017. The effects of source, revision possibility, and amount of feedback on marketing students’ impressions of feedback on an assignment.Journal of Marketing Education.39(1). pp.17-29. Aslam, M., 2018. Marketing strategies for academic libraries in the 21st century.International Research: Journal of Library and Information Science.8(1). Epuran, G. and et.al., 2015. Sustenability and organic growth marketing: an exploratory approach on valorisation of durable development principles in tourism.Amfiteatru Economic Journal.17(40). pp.927-937. Harahsheh, S., Haddad, R. and Alshorman, M., 2019. Implications of marketing Jordan as a Halal tourism destination.Journal of Islamic Marketing. Kliuchnikova, O.V. and Pobegaylov, O.A., 2016. Rationalization of Strategic Management PrinciplesasaTooltoImproveaConstructionCompanyServices.Procedia Engineering.150.pp.2168-2172. Lusch, R.F., Vargo, S.L. and Gustafsson, A., 2016. Fostering a trans-disciplinary perspectives of service ecosystems.Journal of Business Research.69(8). pp.2957-2963. Pelton, L.E., Strutton, D. and Lumpkin, J.R., 2015. An Interactionalist Paradigm for Assessing Student Outcomes in Marketing Curriculums. InProceedings of the 1993 Academy of Marketing Science (AMS) Annual Conference(pp. 501-507). Springer, Cham. Svensson, G., Wood, G. and Callaghan, M., 2015. Codes of Ethics in Sweden’s Largest Marketing Corporations: Communicating the Ethos of the Code Within the Organisation. InAssessing the Different Roles of Marketing Theory and Practice in the Jaws of Economic Uncertainty(pp. 338-342). Springer, Cham. Thorpe, A.S. and Roper, S., 2019. The ethics of gamification in a marketing context.Journal of business ethics.155(2). pp.597-609. Watkins, B.A., 2017. Experimenting with dialogue on Twitter: An examination of the influence of the dialogic principles on engagement, interaction, and attitude.Public Relations Review.43(1). pp.163-171. 6
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