Principles of Marketing

This presentation explores the principles of marketing, focusing on marketing mix and segmentation. It discusses the importance of analyzing target markets, improving brand value, and understanding competition. The presentation also covers primary and secondary data collection methods and their relevance in marketing research.

PRINCIPLES OF
MARKETING

Table of content
 Introduction
 Methodology
 Findings
 Conclusion
 References

Introduction
Marketing mix and segmentation is powerful and
strong tool in overall concept of marketing that
facilitates in marketing the organisation in the market
(Lahtinen, Dietrich and Rundle-Thiele, 2020).
Marketing mix consist of 7P’s of marketing that refers
to set of tactics that is useful in promoting the product
to the target market and their market segmentation play
role by dividing the target market into small units on
basis of similar characteristics.

Methodology
Primary data- Primary data collection method is the
direct method of collecting the raw and fresh data
(Zéman and Bogdan, 2019). The method of collecting
the primary data is to conduct experiments, interviews,
survey, questionnaire and other first-hand source. This
method is quite long, complex and time consuming
process as researcher has to meet large number of
people or conduct live practical’s to gather the required
information.

Secondary data- Secondary data collection
methodology is the collection of data that already been
research by the other research and readily available on
the different sites, books, and journals for the other to
use (Camilleri, 2018). It is simple, fast and easily
consumable data collection methodology to conduct the
research fast. For B&J’s the secondary data collection
method is the most suitable method of data collection
as the company has less time to penetrate the market
and also to expand the business with new product.

Findings
Brand Value- It is the value which is perceived by an
organisation from its customers. It is important to have
high brand value for higher growth. It is created by
good experience of customers; customers are the main
reason behind creating brand value of an organisation.
Second factor for brand value is the quality of their
product. Higher quality means higher the brand value.

Target market- Ben & Jerry’s ice- cream mainly target
their customers who love to have ice- creams. They
divided their market into many segments like
according to age group of 10-25, 25- 40 and 40 and
above, secondly they segmented their market according
to geographical wise which is famous places of UK
like London, Bellingham and etc.

New trends and their analysis- analysing new trends
and working according to that help the company to
grow faster. Ice- cream companies having recent trend
of offering ice cream to their customers like their ice-
cream sellers use to show the trick named Turkish Ice-
Cream. It is a brilliant idea to attract customers and this
trend to sell ice-cream works well.

Competition Rivalry- This is the factor which states that
how much completion is present in the industry and how they
impact upon company (Lupao, 2017). B&J’s Ice cream have
tough completion from their competitors like Froneri, Gelato
Italia, Kelly’s of Cornwall and many others. All these
companies use powerful strategies and their number of
customers is also high in number which help them to gain
more brand value than others. Their promotional tools are
also effective and their investment in analysing market and
market trends is also higher then B&J’s Ice cream Company.
Hence, there is tough competition for the company in market.

Conclusion
From the above information it is concluded that
analysing marketing conditions by collecting data from
primary way or secondary, it is beneficial for the
company. Identifying brand value and how to improve
it good activity by the company. Analysing target
market and produce products to meet the need and
wants of company is helpful to have fast growth.
Competitive rivalry is essential to analyse who are the
main competitors and what are their impacts upon
company.

References
 Camilleri, M.A., 2018. Market segmentation, targeting and positioning. In Travel
marketing, tourism economics and the airline product (pp. 69-83). Springer, Cham.
 D’Allerto, R. and Raggi, M., 2021. From collection to integration: Non-parametric
Statistical Matching between primary and secondary farm data. Statistical Journal of
the IAOS, (Preprint), pp.1-11.
 Lahtinen, V., Dietrich, T. and Rundle-Thiele, S., 2020. Long live the marketing mix.
Testing the effectiveness of the commercial marketing mix in a social marketing
context. Journal of Social Marketing.
 Lupao, B.W., 2017. Effect of market segmentation, targeting and positioning
strategies on International Schools in Nairobi (Doctoral dissertation, University of
Nairobi).
 Ruiz-Pava, G. and Forero-Pineda, C., 2018. Internal and external search strategies of
innovative firms: the role of the target market. Journal of Knowledge Management.
 Zéman, Z. and Bogdan, A., 2019. Marketing strategy and building brand value on the
Hungarian market. Ekonomicko-manazerske spectrum. 13(2). pp.1-9.