Detailed Analysis of Marketing Principles for Bristol Cars

This report provides a comprehensive analysis of marketing principles as applied to Bristol Cars. It begins with an introduction to marketing processes, including elements like customer needs, marketing strategy, and customer delight. The report then delves into market positioning, discussing profits, costs, and the importance of long-term profitability and customer value formation. Macro and micro environmental factors influencing marketing decisions, such as technological advancements and employee relations, are also examined. Furthermore, the report explores segmentation criteria, targeting strategies, and the impact of buyer behavior on marketing activities. The report highlights Bristol Cars' positioning strategy, focusing on competitive advantages and customer loyalty. Finally, the report discusses product development, distribution, pricing, and promotional activities within the context of the marketing mix, emphasizing how these elements contribute to achieving marketing objectives and sustaining a competitive edge in the automotive market. The report concludes by summarizing key findings and providing references.

MARKETING PRINCIPLES
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1Various elements of marketing process..................................................................................1
1.2 Profits and cost involved in Bristol Cars market positioning................................................3
TASK 2............................................................................................................................................3
2.1 Influence over the marketing decisions by macro and micro environmental factors............3
2.2 Segmentation criteria for the cars in various marketplace.....................................................5
2.3 Targeting strategy for Bristol cars........................................................................................6
2.4 Buyers behaviour affecting the marketing activities.............................................................7
2.5 Positioning strategy for Bristol Cars......................................................................................7
TASK 3............................................................................................................................................8
3.1 Development of product to sustain the competitive advantage.............................................8
3.2 Distribution is arranged to provide quality services to the clients ......................................9
3.3 Prices are set to reflect the Standard Chartered objective and market condition ...............9
3.4 Promotional activity is integrated to achieve marketing objectives....................................10
3.5 Additive factors of the prolonged marketing mixture for Standardized Lease...................11
CONCLUSION..............................................................................................................................16
REFERENCES ...............................................................................................................................1
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List of Figures
Figure 1: Elements of Marketing Process........................................................................................2
Figure 2: Factors affecting marketing decisions..............................................................................4
Figure 3: General targeting strategy of organisations......................................................................6
Figure 4: Medium of Promotions..................................................................................................10
Figure 5: Additional Elements of Marketing Mix.........................................................................11
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INTRODUCTION
Management of tasks like allotment , broadcasting and accounting to transmission of
goods and services to the customers in order to satisfy their needs from the sellers are referred to
as the marketing principles. Such type of principles are often useful in optimization of the
opportunities provided by the market order for the organization to achieve its targets and
objectives. Macro and micro factors factors will also be considered in order to determine an
individual's behaviour of buying which has a impact in the growth of future. Light has been
thrown on distribution, focussing and orienting criteria that are utilized in Bristol Cars in this
report. Focussing on the agonistic assets that are helpful for the growth of feasible goods and
services of the bank with details on medium distribution for the convenience of customer has
been done at the end along-with new task.
TASK 1
1.1Various elements of marketing process
There are different elements present in the marketing process of the organisation.
Marketing plays a critical role for attracting the customer by considering their demand and
fulfilling their and organisation objectives by providing customer satisfaction. It provides
relevant information to the customer about the product and services the organisation is offering.
Marketing in simple term define as set of procedures and guidelines that emphasis on customer
need and demand by providing effective communication, information and delivery of the
product. Organisation in accordance with current scenario is utilizing the method of marketing
for the right product to be delivered to the appropriate customer at accurate place (Kotler.et.al.
2015). Various fundamentals of marketing methodologies can be utilized by Bristol Cars. Few
among them are :
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Figure 1: Marketing Process Fundamentals
Customer’s need:
Understanding of the needs along-with perception of the customer for the types of cars
they require is of utter importance for Bristol Cars . Only after analysing this process the
organisation can frame the marketing strategy and plan respectively.
Marketing strategy:
After developing the product, the organisation needs to market their product in the
market. Strategies in marketing of Bristol cars may depend upon the competitor’s price value
and product along-with conditions in marketing that are also taken in account during selection
of strategies in marketing for the brand-new good or existing existing good in order to boost up
their gross sales (A. Griffith et.al. 2014).
Customer delight:
Organisation needs to provide the customer benefits like discounts, free gifts, innovative
offerings, after sales services etc. to attract the customers towards their product to increase their
sale with customer satisfaction.
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Marketing Process
Fundamentals
Customer’s need Marketing strategy Customer delight

1.2 Profits and cost involved in Bristol Cars market positioning
Orientation or positioning in market is the method through which organisation
determines the trends currently in the marketplace and develops the scheme according to the
trends that satisfies the client demands along-with needs. Below is given the profits in the
positioning in Bristol cars:
Long term profitability- The Bristol cars would have a beneficial and competitive advantage of
using the positioning of market to achieve profits which are long term. In pursuance of retaining
the customer , considering long-standing and for maintaining relations which organisation uses
the networked platform for providing the instant services and queries of customer would be
resolved on time.
Customer value formation- For achieving the customer satisfaction the only criteria is to
consider the customer’s necessities and demands in order for the reception of best product to
them for their worth (Hollensen, 2015). The Bristol cars can use positioning market techniques
to do the aforementioned.
Expenditure of positioning- Positioning prices are generally at peak due to which the
organisation is capable of identifying the necessity and request of the product for developing the
strategy. The main cost that is concerned with positioning of market is exploration costs of the
market , which also consumes human resources along-with period of time of the Bristol cars
although it is facilitatory for trends and international markets research.
TASK 2
2.1 Influence over the marketing decisions by macro and micro environmental factors
Every organisation has some internal and external factor affecting it. The macro and
micro environment in the organization too affects a Bristol Car.
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Figure 2: Elements influencing decisions in marketing
(Origin: Macro and micro factors, 2016)
Below are given few macro factors affecting decisions in marketing:
Technology based factor-
In global environment it is a really critical factor and affects the most over decisions and
functioning of institution. Changes in technology taking place very vastly even on marketing the
organisation need to use advance technology for providing their services like services in
networking over the official websites of them that lead the marketing decisions to be positively
affected (Zeriti et.al. 2014).
Political factor-
Bristol Cars need to consider the political factor that includes regulation and rules by
government thus influencing the commercialism strategy along-with decisions. And in current
scenario this factor is of utter importance for maintaining the productivity of the organisation.
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For example: UK government mandates the organisation to follow the political factor while
taking marketing decisions.
Micro environmental factors
Employees-
Employees are the key drivers of the organisations who take the organisation in the
directions where they want. It affects the marketing decisions if employees are not treated
equally or discrimination is present at workplace or any other reason than that organisation will
not prosper (Turnbull et.al. 2013).
Customers-
The long run objective of organisation is to maintain their market share and brand image
in the market. This could only achieve through customer satisfaction by providing quality
services of Bristol Cars.
2.2 Segmentation criteria for the cars in various marketplace
The method of dividing the marketplace and reaching out the customer to fulfil their
demand in mainly known as segmentation. The market on the basis of demographic, action and
physical position of the product that are essential parts for segmenting are segmented by the
Bristol cars. Income of the customer for segmenting is also taken into consideration by the
organization as it is involved in cars, luxurious enough, which the middle class people cannot
afford so here also segmenting play a important role. Bristol cars even have to conduct the
market research and survey for segmenting the product. It is the method dividing the market
according to the range of the product and allots the affordable cars according to the respective
income of the individuals. On the basis of the location of the clients the market is divided by the
geographical factors and try to reach at their place to meet their need although now it simple to
reach the location of the customer through online services that enable the point of sale and cars
industry to be known by marketing manager and most of the cites and states have their branches
or distributors (Cross et.al. 2015).
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2.3 Targeting strategy for Bristol cars
Figure 3: General-purpose strategy of organisations for targeting
(Origin: Strategy of Targeting, 2016)
Targeting strategy is referred as the process of a particular group or individual being
specifically targetted who , for the product , show their preferences. For introducing and
promoting the cars of Bristol, organisation can use targeting strategy. The strategy focuses on
framing the design and developing the marketing activities on the basis of preference of the
clients. Preference of the customer is based on age, values and beliefs that have a significant
impact on sale of the product. While forming the strategy the Bristol car had to consider this
point because sporty and luxury cars are preferred by young age and other points like
competitors move etc. Emphasis on the channel distribution which is being outsourced or having
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their in house method of distribution of the product due to its less cost in strategy of segmenting
as their no fund needed for the building the construction and sales human resources,needs to be
done by Bristol cars (Bostrom et.al. 2013). From the point of customers, the customers are even
benefited by the segmentation as they don’t need to look for their expectations in the physical
market and demand as the organisation in order to reach them puts effort through online
platform by offering vast variety of cars with the comparison in prices for the range of cars that
are available.
2.4 Buyers behaviour affecting the marketing activities
Customer has the power to rule the market in the current scenario; this is because the
buying behaviour of customers varies according to the needs and expectations of them with
respect to products and services. For meeting the expectations the organisation need to frame the
strategy that is preferable for the customers. The organisation will not able to launch the new
product without the determination of the buying behaviour and for this purpose marketing
activities play important role. Personal incomes of buyers which are non-essential also help in
knowing the criteria for marketing activities. The buyer of Bristol cars usually prefers to have
information search for the product they are prefers to purchase of the automobile industry as it
involve huge amount of spending. Hence, information search is also important factor to
determine the buying decision. Bristol cars can use social and emotional appeal in the marketing
activities so that they can influence the buyer and can change their preferences to purchase of the
product. The buying behaviour of the individual affecting the marketing activities of the
organisation also gets influenced by the competitive price and costs(Oliver, 2014). Growth in
marketing of cars will cause more number of people being attracted . The Bristol car can use the
online platform or direct marketing by offering attractive concession and advanced properties for
variety of their range of cars.
2.5 Positioning strategy for Bristol Cars
Bristol Cars uses strategy to compete in market according to the current view of
customers towards the organization. In present scheme, the organization is focusing on sporty as
well as luxury cars, as they already sets standard in United Kingdom. The support of efficient
advertisement tool and brand image, cited organization will take advantages of competitors. The
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organization is known for it's good quality of services and satisfaction of customers. They are
also using cost control techniques in production department which helps them to achieve good
reputation in market. With the help of scarce resources and this strategy, they can achieve
excellent promotional activities, it also helps organization in directing, controlling functions and
planning. The main focus of every organization is to achieve customers loyalty, Bristol cars can
achieve this with the help of positioning strategy. By improving the relation with employee,
brand image in market will also increase as the trust of the employee on the organization
increases.
Bristol cars can achieve customers trust by providing the extra services with respect to
the cars as offered by car industry. The organization can maintain long term sustainability and
market growth with the help of strong positioning strategy. According to customers and
management, cited organization would acquire a positive reputation in market.
TASK 3
3.1 Development of product to sustain the competitive advantage
The most important factor for success and the long term viability is sustainable
competitive advantage. Over 150 years, Standard chartered bank has stood out among the biggest
bank of UK in terms of quality services in banking sector. According to market capitalisation, it
comes under top five banks which is regulated by financial conduct authority and prudential
conduct authority. To withstand with the competitors in the market, an organisation should have
the strengths named competitive advantages. World leadership and building of a branding can be
done by sustaining the customers. The maintenance and improvement of an organization is
permitted by sustaining competitive advantages. Standard chartered is enable to withstand with
it's competitors with the help of this advantage. It is an organization's duty to modify the services
as per the demand of the client. Through feedback system, some idea and information is
collected in the organization for customers and employees which improves the services
periodically. In the present scheme of banking sector, many of the banks are focusing new and
innovative ideas to attract customer while focal point of standard chartered bank is always
quality of the services provided to the customers.
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