Marketing Management Analysis

Running head: MARKETING MANAGEMENT
Marketing Management
Name of the Student:
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Table of Contents
Task 1 Q&A.....................................................................................................................................2
References........................................................................................................................................9
Task 2 Report.................................................................................................................................11
Introduction....................................................................................................................................11
Market analysis..............................................................................................................................11
Risks related to marketing opportunities.......................................................................................14
Benefits of the opportunities..........................................................................................................14
Marketing strategies.......................................................................................................................15
Evaluation and control...................................................................................................................17
Ethical concerns.............................................................................................................................18
Task 3.............................................................................................................................................19
Marketing plan...............................................................................................................................19
References......................................................................................................................................21

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Task 1 Q&A
1. Alliance marketing- Alliance marketing strategy as the name suggests, it occurs when
two or more organizations share marketing strategy. Similar strategies and marketing
concepts are applied for promotion of products and services. It can be applied to any
business when it finds another organization that has same goals. The example of
Starbucks and Barnes and Noble would best example of alliance marketing, in the year
1993 Barnes and Noble collaborated with Starbucks to provide in-house coffee shops, the
strategy benefitted both the retailers, example alliance marketing can be of Hewlett-
Packard and Disney, Disney purchased some of the audio equipments of HP during the
creation of Fantasia. They continued their alliance marketing and Disney depended on the
development of HP and its IT team for the development of its own infrastructure (Stark,
2015). Similarly, the concept of alliance marketing can be applied in case of a hotel and
restaurant business and it can be applied in case of tour operator and airlines business.
2. Market Penetration- Market penetration is the strategy of any business especially in case
when the company launches any new product in the market. In this strategy, the
companies strive to penetrate into a particular market segment. This strategy is applied by
pricing the product in a range that it is affordable by most of the customers (Boone &
Kurtz, 2013).
2.1 Market development- Market development is that strategic step in which the
company develops its existing market rather than opting for another market. Market
research is very important for market development. In market research a market
segmentation analysis is done. The company taps the untapped market. The

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company’s goal is to target a different segment of the market (Nagle, Hogan & Zale,
2016).
2.2 Product development- Product development is done in two ways, one in which a
new product is developed, in this case few steps are followed, that starts with
conceptualization, design, development and marketing of any new product. The other
way of product development is to add features to existing products (Armstrong et al.,
2015).
2.3 Diversification- This particular strategy is taken by any company when the growth of the
company is restricted by the size of the market, so the company decides to diversify their
business into another market. The business can diversify into another segment of the market or
may be into another country.
3. Product life cycle
Introduction- It is the first stage of product life cycle where the product is launched or introduced
in the market. The firm of the product, which is introduced, strives to create awareness and a
market for the product is developed.
Growth- It is the second stage of life cycle of the product where product starts to grow in the
market, sales of the product and the customer base starts to grow. The company in this stage tries
to build brand preference and increase the market share. In this stage quality of the products are
maintained and additional feature and services are added to the product.
Maturity- It is the third stage of product life cycle where the product gets matured. In this stage
there is strong growth and the sales reduces. The objective at this phase is defend the market
share and increasing the profit.

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Decline- This is the last stage of product life cycle where the sales of the product declines,
customer base of the product also reduces. After this stage the product is again re-introduced in
another way or the product is completely abandoned, like the audio cassettes (Foxall, 2014).
4. Four P’s of marketing
Product- A product can be tangible or it can be intangible, it has to fulfill the needs of the
customers for being called as product.
Price- This ‘P’ is related to the pricing decisions of the product.
Promotion- After the product has been priced it needs to be promoted to the target audience
Place- The last ‘P’ of product life cycle denotes to the place or the market in which the product
will be placed.
5. Marketing mix is very important for the marketer because it affects the consumer
decision making. The elements of marketing mix, product, price, place and promotion are
the determinants that make the customers take important decision related to buying
action. Every product fulfills different needs of the product, the needs of the customers
helps them deciding which product they are willing to buy. The price of the product is
one of the most important factors that initiate the buying action of the customers, even if
any particular product fulfills the needs of the customers often price becomes major issue
for the customers to reject any particular product. If the product is not accessible to the
public then it is not possible for the people to buy the product. If the company wants to
create awareness about their product to the customers, the existence of the product and
the requirement of the customers it fulfills have to be communicated. Only then, it is

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possible that customers will show interest in that product. Therefore, it is important for
the marketers to apply appropriate strategies related to the elements of the marketing mix.
6. The product component of marketing mix is one of the most important elements because
features of the product and the needs it is going to fulfill determines whether the
customer will buy that particular product or not. If the product fulfills the basic necessity
of the customers then other factors like price might not be much effective. Same can be
said for products or services that are highly differentiated, like the rail transport or air
transport, even if the prices hike since people do not have much option for long distance
traveling they will choose the services irrespective of the price. Now most of the products
are available online so place is also not much effective in consumer buying decision
(Hunt, 2015).
7. Product life cycle-
Product life cycle are the stages that any product comes across right from the time it has been
launched in the market till it reaches a stage when its sales declines and it is at the verge of
abandonment. Every product passes through four stages in its entire life cycle, introduction stage,
growth stage, maturity stage and decline stage. After the decline stage generally the products are
re-introduced with some additional features and the cycle repeats. The planning of the re-launch
needs to be done when the product is in its decline stage or else the product might be abandoned,
which normally does not happen. Few products have reached the fifth stage that is abandonment
like the audio cassettes and VCRs, which has been abandoned completely.
8. The two types of pricing strategies are penetration and skimming pricing strategies