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Sample Assignment on Fundamentals Of Marketing

   

Added on  2020-12-18

16 Pages3982 Words453 Views
Business Development
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Marketing fundamentals
Sample Assignment on Fundamentals Of Marketing_1

Table of ContentsINTRODUCTION...........................................................................................................................3PART 2............................................................................................................................................3a). Discuss the current marketing environment through SWOT analysis, Porter's five forcesand PEST. ...................................................................................................................................3b). Evaluate the company positing and targeting strategy using perception maps, segmentationtechnique and principles of 4Cs of effective strategies. .............................................................6c). Ansoff's metrics to formulate relevant growth strategies and justify the Smart Marketingobjective for future. ....................................................................................................................8d) Application and integration of define marketing objective into revised marketing mix forfuture.........................................................................................................................................11e) Financial implication that application of revised the marketing mix or objectives. ............12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
Sample Assignment on Fundamentals Of Marketing_2

INTRODUCTIONFundamental of marketing is basically a process by which individual or group obtainwhat they need and require for creating or exchanging the products. This report will discussabout the Current marketing environment of business by using SWOT, Porter's and PESTanalysis. Bomb cosmetic is a leading organization that can use only the finest natural ingredientsin the product development. There are wide range of handmade bath treat, oil, gift packs andscrubs etc. This will help for analyzing the depth details about the business operations andfunctions. This assignment will describe the organization positing and targeting the strategy byusing the perception map and other segmentation technique. Furthermore, there are variousapplication and integration of marketing objectives to revise the marketing mix for futuredevelopment. At last, This report will describe the financial implication that can determinethrough marketing mix concept and how will affect the marketing activities. PART 2a). Discuss the current marketing environment through SWOT analysis, Porter's five forces andPEST. Marketing environment is a combination of internal and external factors which affects theentire forces or ability of company to establish a good relationship with customers. It consists ofexternal and internal environment to specify the appropriate employee, equipment and materialsetc. SWOT analysis-SWOT analysis is a type of framework that can use to evaluate the Bomb Cosmeticcompetitive position. It also develops a strategic planning to identify the strength and weaknessof business. Strength-The Strength of Bomb Cosmetics is that when it is highly ethical in practices and alsoproviding the best product to the customer. This organization is mainly used the handmade bathtreats crucial, gift packs and scrub which quite effectively. Fresh product produce by using thenatural ingredients (AliAshraf and Siddiqui, 2018). In this way, Bomb Cosmetic gain greatreputation and popularity in UK and also build trust or loyalty among the customers.
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Weakness- The weakness of business is high competition in marketplace. It is required for Bombcosmetic firm to overcome the same results or outcomes. Growing the competition level is majorweakness of organization because it will decrease the testing on the cosmetic products. In thisway, many customers are not aware about the product and their services. The organization ischanging the price of product so that it will reduce the profit margin. Opportunities-Opportunity is exists for Bomb cosmetic for increasing the sale of business further, onlinepresence help for increasing the productivity and profitability in marketplace. The organization isused different type of promotional activities such as social media marketing, website and otheradvertising that help for improve the demand of consumer. Threat- Online competition is a Major threat in Bomb Cosmetic that increases in day by day, It isnecessary for organization to implement well appropriate strategies to overcome rivalry in globalmarketplace. Cruelty free is a type of label for product that doesn't harm the animals. It is onlyused for the purpose of testing. Porter's Five Forces:Porter's five forces is a framework to analyze the competition in global marketplace. It ismainly drawn the industrial organization economies to derive different forces and also determinethe competitive intensity (Çalı and Balaman, 2019). Threat of New entrants- This type of threat can be describe in proper manner where Bomb Cosmetic firm hasfollows the specific regulation and prevailing affecting the business. On the other hand,Development and research team analyzing the overall cost increases which is the best forcompany as enter in market. Sometimes, it is restricted because of less availability of funds.Threat of Substitutes-The Switching costs are low in the Bomb cosmetic firm so that there is high risk ofsubstitution. However, the substitution product is cheaper because customer is quickly movedfrom other services. It is needed for business to maintain the inferiors and clarifies that there islow risk of substitution in appropriate manner. In this way, it is easy for Bomb cosmetic tomoderate the entire threat of substitute.
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