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Introduction to Marketing

   

Added on  2020-02-03

9 Pages2764 Words117 Views
Introduction to Marketing

TABLE OF CONTENTSINTRODUCTION.....................................................................................................................................2P1. MARKETING TECHNIQUES USED BY ORGANISATIONS......................................................2P2 LIMITATIONS AND CONSTRAINTS OF MARKETING.............................................................3P3. MARKET RESEARCH USE.............................................................................................................3P4. USE OF MARKET RESEARCH IN PLANNING...........................................................................4P5. CUSTOMERS ARE TARGETED FOR SELECTED PRODUCTS...............................................4P6. MARKETING MIX FOR NEW PRODUCT AND SERVICES......................................................5CONCLUSION..........................................................................................................................................5REFERENCES..........................................................................................................................................7

INTRODUCTIONMarketing is considered as one of most critical aspect for every business firm. By havingan application of diverse methods the promotion of services can be taken into account. Forsustainable development the business need to ensure about market values. In present report,Starbucks is being considered as organisation. In this, different values are being taken intoaccount for sustainable values (Cheverton, 2005). P1. MARKETING TECHNIQUES USED BY ORGANISATIONSMarketing is the process of meeting the necessities and wants of customers. Mostbusinesses today are having rivalry towards generating the most profits as there are alot ofcompetitors in the business world. Marketing techniques are one of the ways thata businesswould do to increase its productivity and sales. Starbucks and Nintendo are two differentbusinesses and I will beevaluating about the marketing techniques that they do to attract morecustomers to increase their sales.Starbucks’s Marketing TechniquesBranding is the process that is included in making aunique name and image for the products in thecustomers’ minds.Starbucks use branding to meet its target customers. For example, customers can easilyrecognise what a Starbucks coffee house looks like because the logo of Starbucks can beseen so branding is a useful asset to meet its marketing objectives such as market penetration (Cohen, 2005).Brand extension is a technique of launching a new product by using an existing brand name ona new product in adifferent category. Starbucks used to sell only coffee products but they expanded their businesses by taking the risk of producing new products such as making tumblers and mugs.Relationship marketing are the marketing activities that are targeted at developing and handling long-term relationships with a huge proportion of customers. Starbucks uses relationship marketing to buildlong-term relationships with customers. . Nintendo’s Marketing StrategiesGrowth strategy is thestrategy that most businesses use toexpand their customers marketfor the products of the companywhich was developed by Ansoff in 1941. Ansoff’s growthmatrix helps most businesses to plan their products their market growth strategy. It also proposesthat business’ tries to increase oneither a business needs to market new or present productsinnew or present markets (Bowman and Gatignon, 2010). By marketing presentproducts to thepresent market. Along with this, developing newmarket for the present market is also beneficialfor organization. Product development is very suitable for business who wants toremaincompetitive in the market by differentiating their products. Ninten couldoffer them an expansion

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