Marketing Principles

University
MARKETING PRINCIPLES
By
Date
Name
Lecturer’s Name

MARKETING PRINCIPLES
Contents
Task 1..........................................................................................................................................................3
1.1 Explain the various elements of the marketing process................................................................3
1.2 Evaluate the benefits and costs of a marketing orientation for a selected organization................4
Task 2..........................................................................................................................................................5
2.2 Show macro and micro environmental factors which influence marketing decisions........................5
2.2 Propose segmentation criteria to be used for products in different markets.......................................6
2.3 Choose a targeting strategy for a selected product/service.................................................................6
2.4 Demonstrate how buyer behaviour affects marketing activities in different buying situations..........7
2.5 Propose new positioning for as elected product/service.....................................................................8
Task 3..........................................................................................................................................................8
3.1 Explaining how products are developed to sustain competitive advantage........................................8
3.2 Explaining how distribution is arranged to provide customer convenience.......................................9
3.3 Explaining how prices are set to reflect an organization’s objectives and market conditions............9
3.4 Illustrating how promotional activity is integrated to achieve marketing objectives........................10
3.5 Analyzing the additional elements of the extended marketing mix..................................................11
Task 4........................................................................................................................................................11
4.1 Plan marketing mixes for two different segments in consumer markets for Vodafone UK.............11
4.2 Illustrate differences in marketing products and services to businesses rather than consumers for
Vodafone UK. Use examples to illustrate your points...........................................................................12
4.3 Show how and why international marketing differs from domestic marketing in the case of
Vodafone UK........................................................................................................................................13
References.................................................................................................................................................14
Page 2 of 17

MARKETING PRINCIPLES
Task 1
1.1 Explain the various elements of the marketing process
Business activities which are linked to marketing are retailing, broadcasting as well as delivery
of products to the overall public. It is significant for the organizations to understand the
requirements and demands of the customers and so business firms can contribute services and
products according to the client. Besides, marketing process is concerned with four basic steps
(Westwood, 2011).
Page 3 of 17

MARKETING PRINCIPLES
The fundamental purpose of this step is prepared with the motivation driving making a brand
value among the customers.
 In marketing process, the environment is scanned first as it helps the organizations to
identify the client expectation about the product. To consider customer expectation,
varieties of research is coordinated by the business firms resulting to filtering of markets.
So the organizations have to segment their markets.
 The second step is market segmentation. It is a technique where huge companies are
isolated into little units as showed by similar qualities. Segmentation is of four types such
as psychographic, behaviouristic, demographic as well as geographic. In this step after
segmenting the market that particular section is chosen which business firms need to
target.
 The third phase is the target market. The target market is carried out by implementing
various strategies and marketing plans (Westwood, 2011). The target market is a part of
the market segment. Both are dependable to each other. In concentrating on all segment
are surveyed from pre-chosen criteria then according to the organizational limit that
portion is selected which offer an advantage to business firms and also provide
satisfaction to the customer.
 Based on the features, positioning strategy of the product is chosen, this approach set a
product picture in customer's mind. The strategy which is chosen it should consider
destinations and market condition of the organization (Bleicher, 2014).
1.2 Evaluate the benefits and costs of a marketing orientation for a selected organization
Market orientation is concerned with the business reacts as indicated by the needs of the
customer rather than what they have to serve customers. In a highly competitive market, the car
Page 4 of 17