Marketing Strategies for Educational Institutions

This assignment delves into the application of marketing principles within the context of educational institutions. It examines various marketing tactics employed by schools and universities to attract students, enhance their reputation, and foster growth. The discussion covers topics such as market orientation, branding, customer segmentation, communication strategies, and the role of technology in school marketing.

Marketing Principles

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 The various elements of marketing process.....................................................................1
1.2 The benefits and cost of marketing orientation to McDonald's........................................2
TASK 2............................................................................................................................................3
2.1 The micro and macro environmental factors influencing the market decisions...............3
2.2 Proposing segmentation criteria for McDonald’s in different markets............................6
2.3 Range of products and services of McDonald’s and targeting strategies for them..........7
2.4 Buying behavior affects marketing activities in different buying situations....................7
2.5 Proposing a new positioning for selected service or product of McDonald's..................8
TASK 3............................................................................................................................................9
3.1 Product development for sustaining competitive advantage............................................9
3.2 Distribution strategies used by McDonald’s for customer's convenience and satisfaction10
3.3 Pricing strategies used by McDonald’s as per market conditions..................................12
3.4 Promotional Activities of McDonald’s to achieve the marketing objectives.................13
3.5 Additional elements of Marketing mix...........................................................................13
TASK 4..........................................................................................................................................14
4.1 Marketing mix for two different customer segments.....................................................14
4.2 Difference in marketing products and services to business............................................15
4.3 Difference in international marketing and domestic marketing.....................................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Marketing principles are the ideas which are formed for the product promotion strategies.
Some organizations use variety of marketing principles for modifying the market performance of
existing products and successful establishment of product in new market segment (Day, 2005).
With regards to this, the firm is undertaken for present study is McDonald’s which is world's
largest chain of hamburger fast food restaurants that services 68 millions customers daily in
multiple countries. McDonald’s have 36000 outlets and founded in 1940 in United States. This
report will outline the concepts and process of marketing with the concepts of segmentation,
targeting and positioning and the individual elements of marketing mix along with their use in
different context.
TASK 1
1.1 The various elements of marketing process
The various elements of marketing process of McDonald’s are as follows, Analyzing market environment: for analyzing the market environment McDonald’s will
require a strategic tool to be get the competitive advantage. Thus, the firm can focus on
SWOT analysis, PESTEL analysis, Porter's five force and value chain analysis etc. for
analyzing the market environment. In this context, following is the SWOT analysis of
McDonalds:
STRENGTHS:
 World's largest fast food market share.
 Brand recognition value at $50 billion.
 Food menus as per local choices.
 More than 80% restaurants with
independent franchisee.
 Partnership with best brands.
WEAKNESSES:
 Unhealthy food menu.
 Low differentiation.
 Negative publicity.
 High employee turnover.
OPPORTUNITIES:
 Home delivery option.
 Increased demand of healthy food
products.
THREATS:
 Soaked fast food markets in developed
economy countries.
 Trend towards healthy food.
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 Changing customer habits and new
customer segment
 Currency fluctuation.
 Local fast food chains.
 Cultural effects on food habits. Identifying the target market: McDonald’s can target on particular areas internationally
and increase the variety in restaurants for increasing sales and profitability (Kimball,
2011). The firm can analyze a market segment where segment in which people like to
have fast food in routine. Setting core goals and objectives: McDonald’s have to define their marketing objectives
that will maximize the profits and help in achieving long term and short term objective of
the firm. However, it is very important for the firm to improve the goodwill of the firm as
well. The primary aim of McDonald’s is to serve good food in fun and friendly
environment and also, the firm want to be socially responsible company and to provide
good returns to its stakeholders.
 Determining marketing mix: The firm is focused only on particular food products which
it is serving in its outlets and satisfying customers demand in significant way. Moreover,
the customers of McDonald’s are aware of unique characteristics of cited firm and have
trust on the food quality it is serving to its customers (Oplatka and Hemsley-Brown,
2007).
1.2 The benefits and cost of marketing orientation to McDonald's
Market orientation can be referred to a business approach that aids in assessing the needs
of customers and meeting with the same by offering appropriate services and products. In this
regard, there are different types of orientation namely marketing, product, sales and production.
Within the context of product orientation, products and services are developed from the
perception of management and it does not include customer’s viewpoint. In this, products are
kept higher than that of actual customers. Contrary, needs and wants of the customers are given
high consideration in marketing orientation and hence products are developed accordingly.
Further, concern of management in sales orientation is to enhance the sales of the company
irrespective of the relevance of products with that of needs and wants of the customers. Apart
from this, production orientation emphasizes on manufacturing unique set of products in order to
develop unique image in the marketplace. However, it doesn’t focuses on requirement of the
customers.
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In this context, marketing orientation for an organization like McDonald’s is an
organizational strategy which is dedicated to meet the needs of its customers. All business
strategies and product development rotate around the desire of this desire. However, the
McDonald’s aim is to serve good food to its customers in fun and friendly environment. Thus,
the firm is serving its customers at affordable prices and quality services.
Cost: Increasing value for customers increases the production cost of McDonald’s as well.
Marketing orientation floats with a momentous cost as McDonald’s will have to analyze all their
necessary resources and factors effectively and in efficient manner. Moreover, the finance profit
of McDonald’s has been always stable because of its quality assurance to its customers and with
the range of food products it is serving to its consumers in multiple countries (Doyle, 2009).
However, the firm is a leading restaurant chain in the world but its promotions and advertisement
expenses are decreasing the profits as they have high prices of some food products and some
food products are not culturally accepted by the people in few countries.
Benefits: McDonald’s has secured its place as the best fast food restaurant chain in global
markets and got “the best food service retailer of the year, 2012” award which it can use
efficiently in marketing and promotion activities of their existing and new food products.
Furthermore, the firm can also enter in a market where its competitors such as KFC, Subway and
Burger king are not accepted by the customers. However, the McDonald’s is able to maintain its
customers and revenue in all the markets successfully (Li and Hung, 2009).
TASK 2
2.1 The micro and macro environmental factors influencing the market decisions
With regards to McDonald’s micro environment analysis it is identified that firm is
financially strong as world's largest fast food chain and is a recognized brand all over the world.
Further, the brand has so much potential for its advertising and promotion activities and its
locally adopted food varieties (Railsback and Hite, 2008). However, the firm is facing negative
publicity also in some areas and it is providing typically unhealthy foods to its consumers which
it need to improve by time for increase the sales and revenue of the firm. But, at the same time it
has lot of opportunities for turning its weaknesses into strengths as the firm has huge customer
preferences.
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In addition to it, following factors also constitutes in the micro environment of
McDonalds:
1. Customers: Company aims to offer quality and hygiene foods to its customers in order to
meet their needs and also to satisfy them. Additionally, company focuses on developing
products as per the needs of the customers in different region so that it can sustain for
longer. McDonald offer vegetarian and only chicken burger in India, non-pork burger in
Middle East and similar products in other part of world as well in order to adhere with the
cultural issues. This aids in gaining high attention from customers in evert market.
2. Employee: Further, cited company offers proper training to its employees so that they can
work as per the benchmark and in standard form. Also, sound working environment is
offered along with appropriate pay structure in order to enhance the morale of the
employees.
3. Suppliers: Company makes healthy relations with suppliers by entering into strategic
partnership. Through this, McDonald gains quality and set standard product on regular
basis from its supplier across globe. This aids in conducting the business operation in an
effectual manner.
4. Competitors: McDonald enjoys a dominant position in the market due to its quality
products and unique tastes. However, company ensures healthy competition so that its
reputation gets increased.
Furthermore, the macro environmental factors of McDonald’s will be analyzed through
PESTEL analysis, which influences the marketing decisions are as follows: Political: The political factors of a business depict the political influence of the business.
Since, McDonald’s is the world's largest fast food restaurant chain, the political factors of
international market will highly affect the business of McDonald's. These political factors
are tax rate, fiscal policies and interest rates of the country. Economic: The economy factors of the country describe the economic condition of the
country which makes impact on business growth. The economy of the country highly
affects the buyer behavior that also makes impact on firms business. Thereby, it is
essential to consider economic factors of the country at the time of developing business
strategies (Oplatka and Herts-Lazarovits, 2006).
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Figure 1: PESTEL Analysis
(Source: PESTEL Analysis, 2015)
 Social: The social factors of the business scrutinized the social environment of the
market with factors such as, current market trends, cultural effects on food habits,
populations and demographics. For instance, at the time of launching restaurant in India,
McDonald’s have changed its beef burger into Aloo Tikki Burger. Technological: Further, in the technological factors the firm should analyze the
technological growth of the country which may affects the operation of the firm. The
technological factors of the country can highly affect the marketing opportunities of
McDonald's. Thereby, it is necessary to analyze the technological growth of global
country. Environmental: In recent years, environmental factors are highly affecting the business
of McDonald's. As per these environmental factors many issues such as weather of the
country, energy saving initiatives are the important aspects (Jaafar, Aziz and Wai, 2008).
These factors affect the customers and their food preferences. Thus, the firm should
necessarily analyze the environmental factors of the country before making any
marketing decisions.
 Legal: The legal environment in which the cited firm operates its business is highly
dependent on the legal structure of the global country, as per these legal factors the firm
should analyze all the laws, rules and regulations of the country for the successful
business operation and marketing operations.
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2.2 Proposing segmentation criteria for McDonald’s in different markets
McDonald’s is world's largest fast food restaurant chain and focuses on new marketing
strategy in order to increase the sales and revenue of the firm. McDonald’s have realized its
weaknesses as it is serving unhealthy food to its customers. Thus, improvement in food products
and requirement of effective market segmentation is essential. However, the firm is attempting to
make it more reliable and actionable (Rosenbloom, 2011).
Since, McDonald’s is the world's largest fast food restaurant chain, it is very important to
understand its targeted customer’s. However, McDonald’s has segmented its food products on
the basis of demographics, psycho graphic and behavioral preferences of people.
Figure 2: Segmentation Process
(Source: Terpstra, Foley and Sarathy, 2012)
Under geographic segmentation, company has segmented the market in the form of country.
From this, it is able to develop distinctive products and services as per the needs and wants of the
customers. Further, demographic segmentation has even been conducted by McDonalds in each
market. In this, company segments based on age. It offers products for every age group right
from ice cream to full meal burger. Additionally, company attracts customer by conducting
psychographic segmentation as well. Here, lifestyle and personality are the basis in which
customers are attracted towards it. Further, they have segmented their products and positioned
them according to kids, students and family. But, in the future, segmentation according to adults
and targeted group is necessary.
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2.3 Range of products and services of McDonald’s and targeting strategies for them
After proposing a market segmentation criteria, McDonald’s is focused on adopting a
suitable targeting strategies as a single marketing strategy which will not allow McDonald’s to
get a competitive advantage. The different targeting strategies of McDonald’s are as follows, Undifferentiated strategy: As per undifferentiated strategy the cited firm uses single
promotional activity between all customers segments. This strategy is effective in
McDonald’s when specific menu is being served among the people and firm have less
competition in the market (Tate, Ellram, Bals, Hartmann and van der Valk, 2010). Concentrated Strategy: The concentrated marketing strategies are designed for specific
market segments with various promotional activities. As per this market strategy firm can
attract the targeted customers easily.
 Differentiated Strategy: In this type of marketing strategy McDonald’s can focus on two
different type of customer segments through the development of appropriate marketing
mix for each segment.
However, the firm is launching healthy vegetable burger in the market, McDonald’s can
implement differentiated strategy for target customer segment as McDonald’s have varied
promotional activities for all its customer segments such as, kids, students and families (Vich-i-
Martorell, 2004). These healthy food is introduced to customers as per the needs and demand of
consumers.
2.4 Buying behavior affects marketing activities in different buying situations
Buying behavior is made of all the internal and external factors that describe why
customer should buy and use certain products. This type of behavior affects the whole marketing
strategies which is a firm is adopting for promoting its product. One of the basic factor that
makes impact on buyer behavior is product's need and demand and complex decision making
capability of the customer. For instance, in some particular countries some food products are
restricted than McDonald’s should not sell those products in that particular country. Instead of
this, the firm can provide those customers local food specialty.
Furthermore, effective and quality services to consumers also affect the buying behavior
of consumers (Richards, 2015). However, the firm should implement the marketing strategies
through which it can attract maximum numbers of customers. Also, these marketing strategies
can turn potential consumers into sales. In addition to it, buyer behavior is even affected by the
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nature of customers as well. Generally, there are two types of buyer, i.e. business and individual
buyer. When business buyer purchases products, then it follows systematic approach of seeking
quotation and selecting best price. This is so because purchase is made for business purpose. On
the other hand, individual buyer sought suggestions for purchasing activity by friend, family and
its peer group. Also, this set of buying is influenced by certain factors as well such as cultural,
personal, social and psychographic. Thus, consumers buying behavior highly affects the
marketing activities in various situations.
2.5 Proposing a new positioning for selected service or product of McDonald's
Product positioning is essential for marketing plan. This is a process by which
McDonald’s can determines that how it can communicate between the people about its new
service. Moreover, by positioning the firm can develop its brand image and goodwill of the firm
within the customers (Terpstra, Foley and Sarathy, 2012). With new improved services and
increased food range McDonald’s will be able to attract more number of customers. Cited firm
has categorized its customers in three segments such as, kids, students and family. Accordingly,
the firm will provide them services. For instance, McDonald’s can provide toys and other gifts
along with meals to the kids. Similarly, the firm can offer discounts and particular meal plans for
its students and family customers. However, the firm is opting for iconic positioning that is build
up on aims, values and aspirations of individual consumers.
Figure 3: Positioning of McDonald
(Source: Self Attempted)
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Furthermore, in healthy food products McDonald’s have clearly described that it will use
hygienic and organic food products which is healthy and does not affect the health of people
(Oplatka, 2007). Moreover, McDonald’s can set the prices for mentioned services and food
products according the cost and demand of the product. The price firm is deciding should be
economic and affordable by all age group consumers so that it will provide the most profitable
outcome to the firm.
TASK 3
3.1 Product development for sustaining competitive advantage
Sustainable competitive advantage is required by all the businesses to expand in today's
global environment. It provides the maintenance and transformation of organization to survive
on competitive position in market. Product development is the advantage for McDonald's. This
product and service development will make the firm to survive in competitive market for long
time (Bob, 2005). For instance, McDonald’s is developing its food products by involving healthy
ingredients. Moreover, the firm can develop these products by increasing the use of organic and
healthy ingredients with hygienic packaging of food. McDonald’s can segregate its products
between three criteria such as, kids, students and family. The packaging should be according to
these criteria. The competitive advantage remains in the organization only when the firm is able
to provide same products and services as competitors are providing but with lower costs. Firm's
pricing power usually takes advantage of high obstacle to enter in a market and to earn a
governing position in a market. Since, McDonald’s is world's largest fast food restaurant chain it
is already having that competitive advantage to the firm. But, with product development the firm
can also increase its sales and revenue. In addition to it, McDonald develops products as per the
needs of customers in different region. In this regard, following process are used for new product
development:
1. Idea generation: At this stage, idea about product is developed based on the rituals and
culture of specific country.
2. Idea Screening: Here, idea about the product is screened by the committee in order to
ensure that whether value will be created from it or not.
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3. Concept development: After screening, concept is developed in which new set of product
is transferred as per the product category of the company. In this, method is developed
from which cultural product of country can be produced in the form of burger.
4. Business analysis: Here, analysis is made based on marketing strategy and also target
market is specified. Further, discussion over product positioning of McDonald is also
done here.
5. Product development: The Company need to develop prototype and marked its design
and specification so that it can be used moved for test marketing. Also, it is required to
develop standards products which will be produced in each and every outlet of McDonald
across the country.
6. Test marketing: At this stage, new set of burger is launched to specific outlet of
McDonalds only in order to gain inputs from the actual customers whether the product
meet their needs or not.
7. Commercialization: Here, marketing of new product is done in order to develop craze
among target customers.
8. Launch: Finally, product is launched and inputs are taken from customer in order to
change it as per the needs and wants.
3.2 Distribution strategies used by McDonald’s for customer's convenience and satisfaction
The effective distribution of product is essential for customer's convenience and
satisfaction for attracting more number of consumers. Distribution strategy are of varied
strategies and company need to adopt most effective one by assessing the nature of business. In
this context, following are the distribution strategies:
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Figure 4: Distribution Channel
(Source: Rosenbloom, 2011)
There are basically three types of distribution channel. Company can distribute goods
directly to customers in order to remove intermediary cost. With the help of it, products can be
offered with low cost and also in quick manner. Next is 2-level channel in which retailers are
present in between producer and customers. Through this, company is able to reach to large set
of customers by making product available at the convenient reach to customers. Another model
of distribution includes wholesaler as well along with retailer in order to further increase the
distribution of products. This is quite complex level but FMCG sector follows this only in order
to offer products directly to customers. Thus, with the support of effective means of product
distribution McDonald’s can increase the sales and revenue of the firm. For distributing products
in appropriate place, cited organization developed accurate distribution methods so that product
is easy reach the consumers and increase the sales of McDonald's.
As per current scenario McDonald’s is serving its consumers by its outlets in multiple
cities and it is also having an option of home delivery. But with the increasing competition the
firm can improve more its online and telephonic booking channels and provide better and fast
services to its customers (Applbaum, 2004). Currently, McDonald’s have home delivery option
only in 5 km. range from the restaurant. However, the firm can provide the home delivery
services in the 10 km. area from the restaurant. Further, the firm can also develop its online
booking portals by making it easy and simple for new users. The online booking and home
delivery option is more appropriate and suitable for the consumers than going to the restaurant.
Also, the menu and pricing in all the McDonald’s store of the country should be same.
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3.3 Pricing strategies used by McDonald’s as per market conditions
Many of the organizations now realize the concept cost based pricing and its effect on the
profit of the organization. As a result, most of the organizations have seized the pricing authority
from finance department and assigned the rights of determining the price to the marketing and
sales department. However, this style of pricing is clearly as per the value based pricing, because
marketing and sales is important part McDonald’s for its best position among the customers with
the value of customers.
There are different types of pricing strategies that can be taken into account by company
for attracting more of customers. These include:
 Skim pricing: It is a strategy in which prices are set high in order to attract customers
who are less sensitive to price.
 Penetration pricing: In this, low price is set in as compared to competitors order to attract
more of customers towards it.
 Psychological pricing: It is a strategy in which marketer set price as £99 instead of £100.
There is a very small difference in price but it makes huge impact on the psychology of
the customers. McDonald practices this pricing strategy that aids in gaining attention
from distinctive customers.
The level of competition that McDonald’s is facing with its competitors such as, Subway,
KFC, Dominos and Pizza Hut etc. helps in determining the pricing strategies as well. In few
cases the firm gets the opportunity to decide the price for its food products and in some cases it
cannot decide the prices (Kimball, 2011). When McDonald’s have the scope to decide the price,
there are so many opportunities and pricing strategies are there that firm can choose. As
McDonald’s is world's largest fast food chain there are no such competitors for McDonald’s
which can complete in food quality and services and affects the scope to determine the price. The
firm provides the best quality food to its customers with affordable and economic prices.
However, the firm can use market skimming pricing strategy. McDonald’s will adopt this
strategy to hold the maximum share of business and profits. At this stage, McDonald’s is on top
of the business. Thus, the firm is free to decide the prices for its new healthy food products. But
for generating revenue and increased routine sales the firm should use low pricing policy to
attract more number of consumers.
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3.4 Promotional Activities of McDonald’s to achieve the marketing objectives
To achieve a marketing objective the firm requires a variety of integrated strategies and
promotional activities. Promotion is one of the important element of marketing mix. The
promotion of the product focuses on the strategies a firm uses to provide information to its
customers for the products. These promotional activities are consisted of advertising, personal
selling, sales promotion, public relations etc.
However, McDonald’s uses various promotional activities in order to achieve the
marketing objective. The promotional activities which McDonald’s adopts is televisions
advertisement, newspaper advertisement, brochures, social media marketing and posters etc. with
the help of these promotional activities firm attracts the maximum number of customers (Bob,
2005). The firm regularly advertises about its new launched food menus and offers on the
television. McDonald’s also advertise in newspapers for communicating about the company in
the large number of people. Currently, social media and internet uses are highly in trend with
people. However, McDonald also uses social media marketing channel to attract the customers.
At this time, social media marketing is highly beneficial for the firm and it will help the
organization to achieve its marketing objectives. Further, practice of personal selling is even
incorporated by McDonald in order to boost the sales of the company. At the counter where
order is placed, employees offer suggestion to customer regarding choices of burger available.
This aids company in enhancing the sales volume. Additionally, public relations are even
practiced in which loyalty coupons and cards are offered so that customer visits again and again.
3.5 Additional elements of Marketing mix
Figure 5: Additional elements of marketing mix
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(Source: Extended marketing mix, 2015)
Additional elements of the extended marketing mix for McDonald’s are as follows, People: This is critically important element of marketing mix for product promotion.
People are important part in which product is being produced. This additional element of
marketing mix allows McDonald’s to serve the people according to their culture and food
preferences of the country. Additionally, proper training and development session are
offered to employees in order to ensure that they offer quality and standard service to
each of the customers. Also, there are varieties of staff from cleaning to cooking through
which appropriate services are offered to consumers. Process: The process needs to be clearly defined between customer's and service
providers. As per this element of marketing mix firm can determine the process of
product which it is going to provide its customers, such as, manufacturing date of the
food, expiry date, ingredients used for manufacturing etc. Beside this, company follows
the process of self service in which order is placed at counter and foods will be collected
from there only. This process saves time of employees in serving to customers. This aids
in managing the situation of huge burden of work from the staff.
 Physical evidence: The physical evidence of the marketing mix play significant role for
new product development. As per this element the restaurants of McDonald’s should be
attractive and comfortable along with the quality services to customers (Rosenbloom,
2011). The fun and friendly environment of the McDonald’s restaurants will help in
attracting more number of customers and increase the revenue and sales of the
organization. Beside this, company even offers gifts and toys to kids in happy meal in
order to attract them again and again. Also, statue of clown outside every outlet of
McDonalds act as a physical evidence.
TASK 4
4.1 Marketing mix for two different customer segments
Marketing mix for two different segments in the consumer markets of McDonald’s are as
follows, Product: In fast food business, the production and consumption of food is largely
depends on the taste of the customers. Thus, McDonald’s will serve the hygienic and
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quality food to its three consumer segments such as, kids, students and family. For kids
the firm can produce healthy products such as milkshakes and vegetable sandwiches.
Moreover, for Students and family McDonald’s can include variety of fast foods and
beverages. Price: The price of product plays significant role in attracting customers. The prices for
fast food for kids and students should be very nominal and affordable. Whereas, for
family segment also the prices should be economic and lower than the competitors. The
prices of food and service should be determined by considering buying behavior of
consumers. Promotions: Promotion of the product is essential for informing maximum number of
people about the product (Applbaum, 2004). McDonald’s can advertise about its
restaurants on cartoon channels for attracting kids. However, for students the firm can use
social media marketing as promotion channel.
 Place: furthermore, the place of marketing mix determines about the product is produced
and consumed at the same place. Thereby, it is very important for McDonald’s to make
the fresh food and provide the same to its customers. The place of manufacturing the food
should be hygienic and clean.
4.2 Difference in marketing products and services to business
Marketing of products to the businesses and to the consumers is totally contrary.
Marketing of product in businesses is known as B2B (Business to Business) marketing. Whereas,
Marketing to the customers is known as B2C (Business to consumer). McDonald’s can utilize
B2B marketing for strategies for its food products and beverages for distribution in the market.
For instance, the firm selling packaged food to a retailer for reselling. B2 B marketing is driven
by the relationship with the consumers so the quality of the food, pricing and some economic
elements can be handled effectively.
Moreover, McDonald’s is primarily focused on B2C marketing because it serves fresh
food to its consumers. Thereby, B2C marketing is essential factor for McDonald’s (Oplatka and
Hemsley-Brown, 2007). This marketing method cited firm use for attracting maximum
customers in short time. With regards to this strategy firm provides them various offers such as
meal passes, gift coupons, displays and additional benefits along with services. More in this, firm
also uses various promotional activities as well to attract B2C customers.
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4.3 Difference in international marketing and domestic marketing
International marketing is kind of business actions that is used for providing products and
services to the consumers globally or in international markets. On the contrary, domestic
marketing is concentrated only in the local market and particular customer segment in the local
economy (Davis, 2015). International marketing is the bigger form of domestic marketing in
which the firm deals with different people.
Domestic marketing strategies of the organization face the competition with localized
competitors. But international marketing face the challenges from the businesses across the
globe. Thus, all the marketing principles and strategies is implemented at presently for local
customers should be varied in international markets.
CONCLUSION
It is concluded in this report that, marketing principles are essential for the organization
for developing new product. Marketing principles depicts the various elements of marketing such
as macro and micro environmental factors which affects the businesses with the concept of
segmentation, targeting and positioning. Moreover, this report helps in understanding the various
marketing mix concepts of international and domestic markets.
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