Unit-3 Introduction to Marketing : Assignment

   

Added on  2021-02-21

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Unit-3 Introduction toMarketing
Unit-3 Introduction to Marketing : Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Describe how marketing technique used to market products................................................1P2 Presenting limitation and constraints of marketing...............................................................2TASK 2............................................................................................................................................3P3 Explaining how a firm uses marketing research....................................................................3P4 How an organization uses data and information through market research............................4TASK 3 ...........................................................................................................................................4P5 Describing how and why groups of customers are target......................................................4TASK 4............................................................................................................................................6P6 Developing a coherent marketing mix for new product........................................................6CONCLUSION................................................................................................................................7References........................................................................................................................................8
Unit-3 Introduction to Marketing : Assignment_2
INTRODUCTIONMarketing is a business process that creates relationship and satisfy the needs ofcustomers. Therefore, the chosen firm for this report is TESCO which is public retail companywho provides different products and another is Arcadia Group Ltd, which is Private companyand multinational retailing firm. Study will describe the marketing technique and also describethe limitation and constraints of marketing as well. Further, it also present how a firm usesmarketing research and discuss how and why group of customers are target. Then it describe amarketing mix for a new product as well.TASK 1P1 Describe how marketing technique used to market productsBoth company uses specific marketing technique, such as growth strategies, survivalstrategies which are as mention below:Ansoff Matrix: It is a strategic planning tool that provides a strategies for a futuregrowth. These are as follows:Market Penetration: This strategy helps a firm to grow the existing products in currentmarket. This strategy helps to increase market share in present market scenario.Therefore, this is consider one of the least risky strategy which a firm can used. Market development: Under this strategy, the firm tries to expand new market byoffering existing products. This growth strategy is used by TESCO because the firm hasa unique product technology, which can be an advantage in a new market. Therefore,TESCO use its potential products to establish a new market in other country that is why itis operated at international level (Palmatier and Martin, 2019).Product Development: In this, a company tries to create a new product in its existingmarket in order to achieve growth. In the same way, Arcadia group uses this strategysuch that recently it launches kid-wear in its UK store. Therefore, it involves extending aproduct range which is available for a firm's existing market (Fyall and et.al., 2019). Diversification: It is one of the most risky strategy because an organization tries to growits market share by presenting new product in new market. It requires high investmentand there nay be high chances of return as well, but, generally it is not used byorganizations.1
Unit-3 Introduction to Marketing : Assignment_3

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