Comprehensive Analysis of Marketing Strategies and Digital Impact

This report provides a comprehensive analysis of marketing strategies, focusing on the marketing mix and the 7Ps, which include product, price, place, people, promotion, physical evidence, and process. It explores how marketing builds competitiveness through tools like SWOT analysis, examini...Read More

INTRODUCTION TO MARKETING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Presenting Marketing and 7P's....................................................................................................3
Explaining the way marketing builds competitiveness..............................................................4
Presenting Ans off Growth matrix...............................................................................................5
Analysing the way digital marketing contribute in growth of firm...........................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................1

INTRODUCTION
Marketing is known as process of selling products through various channels in order to
earn profit and to give quality service to customer. Along with this, it is one of the most
important part of business as it helps in increasing brand awareness in the market. Moreover,
the present report will be discussing on marketing mix and consideration that should be
given to each of the 7 factor. In addition to this, the study will also discuss competitive
marketing tool such as SWOT that helps in knowing internal and external factor. Along with
this, it has discussed Ansoff Matrix as well as digital marketing to improve its performance.
MAIN BODY
Presenting Marketing and 7P's
It refers to activities a company undertakes to promote the buying or selling of goods and
services. Along with this, it includes selling, delivering and advertising to customer to other
businesses. Moreover, it is one of the most important part of business as it helps in increasing
brand awareness in the market. Although it helps in building networking with potential
client ass well as other company (Thabit and Raewf, 2018.). That contribute in earning
overall profit of the company. Along with this, marketing mix is set of marketing tool that a
firm uses to pursue its marketing objective in market. There are two type of marketing mix
such as 4 P's refers to product as well as 7P's is related to services.
Marketing 7P's
Product: It refers to anything that is sold by the organization it can be in form of physical,
service or experience. Along with this, it should be in good quality that it meet the need of the
customer. For example: Starbucks offer various food product to their customer in order to
increase their sales.
Price: The company is using competitive pricing strategy in order to sell their product and
services. Along with this, organization is selling their product and services according to taste
of the customer (.dofirepi, Farinloye and Mogaji, 2020). For example: Starbucks offer product
like premium and regular coffee to their consumer as well as their price vary.
Place: This also play very important role in marketing of the company as well as organization
has to open location at very prominent place in order to attract customer. Such as Starbucks
has opened their company in famous country in order to increase their brand image.

People: The organization has various functional unit in which it has divide their staff into
HR, finance and marketing department. For example: Starbucks only hire talented employee
and highly skilled so that it can serve quality service to their customer.
Promotion: In this step company build and sell their product and service through traditional
and digital method (Blut, Teller and Floh, 2018). Along with this, Starbucks is s making use of
social media sites and digital marketing in order to attract large customer.
Physical evidence: The company have their physical store in various country as well as all
the employees have their uniform.
Process: Starbucks has marinated transparency with their customer as well an employee.
Explaining the way marketing builds competitiveness
Marketing plan help small organization in increasing the sales by targeting customer by
providing the opportunities to consumer by learning about the product and service. Along with
this, it also helps organization in increasing the brand awareness that result in attracting
large customer (Stead and Hastings, 2018). It put company at competitive advantage by
raising the marker share. Thus, organization with good market share receive better price from
suppliers as well as get large sale order.
SWOT: It is strategic tool that helps the organization in identifying factors that are present in
both external and internal factor. Along with this, it is an acronym of strength, weakness,
opportunity and threat.
Strength: It is consisted of factors in which company is good at and it contributes in
success of firm. Along with this, Starbucks have good brand image and it helps in attracting
large customer as well as reduce competition (udari and et.al., 2019).
Weakness: This factor is consist of the area where company is weak and it is creating
hindrance in growth of organization. Along with this, Starbucks major weakness is that it
heavily dependent on its main key input such as coffee beans and due to that the product are
heavily overpriced.
Opportunity: The company can expand it supplier network as well as increase range of
supplier that will help the organization in becoming less sensitive to the price of coffee beans.
Although it expands their business in other emerging marketing that will contribute in
increasing overall growth of firm.

Threat: This factor damage the growth of company as well as reduce productivity of firm.
Along with this, major threat that Starbucks is facing is high competition as well as pandemic.
Due to this threat organization has faced high loss and low profit (Leiber, Stensaker and
Harvey, 2019).
Presenting Ans off Growth matrix
It is basically a tool that is used by organization to analyse and plan their strategy for
growth. Along with this, it is known as market expansion grid as it help organization to grow as
well as analyses risk (Vlados and Chatzinikolaou, 2018). It is consisted of four straggly such
as market penetration, product development, market as well as diversification.
Market penetration: While entering into new market firm use their product with aim of
increasing market share with a market penetration strategy. Although it can be executed
through various form such as decreasing price in order to attract customer, acquiring a
competitor in same market place and increasing the promotion. For example: tee
communication companies al cater to same market and it introduces new product for entering
the market.
Product development: The firm develop new product in order to reduce competition as
well as it involves research and development for making innovative product. Along with this,
firm make use of this strategy when it has strong understanding market condition. This
strategy involves investing in Research and development, acquiring a competitors' product as
well as merging resources to make innovative items. Along with this, accessing more
distribution channels (Kudriavtceva, 2019).
Market development: The firm enters a new market with its current product as well as
expanding into new market like new geographic regions and customer segment. The market
development strategy is most successful if the firm have advance technology. It involves
catering to a different customer segment, entering into new domestic market as well as to enter
into feign market.
Diversification: It is one of the riskiest as both market and product development required the
risk can be mitigated through diversification (Khajezadeh and et.al., 2019). This strategy offer
the greatest potential for increasing revenue as well as open entirely new revenue stream for
company.

Analysing the way digital marketing contribute in growth of firm
Digital marketing I the process of selling products through various online channels in
order to increase brand awareness of firm. Along with this, in pandemic it has helped in
increasing overall growth of firm in effective manner. Moreover, there are various method can
be used by firm such as social media marketing, affiliated marketing in order to increase
sales as well as brand awareness (Suciati, Kurniawan and Iswahyudin, 2020). In addition to
this, it helps in company in wider reach and geographical expansion. Thus, by using
marketing plans organization can expand their business into new areas and location.
Although it is easy to set up as well as it is flexible and target the audience.
Moreover, it helps company in building brand name that contribute in earning the trust
of customer to build stronger than well as better relationships with customer. Along with
this, it allows sharing products detail on various website that help in grabbing the attention of
consumer. Digital marketing solution help each and every company to build strong brand
name. It is cost effective in nature as small and medium size business do not have huge
capital for marketing (Yaqoob and Omer, 2021). Although digital marketing plan do not require
huge capital and it has ability to reach wider targeted audience at lower cost. The effective
marketing plan result in high conversion rates as well as contribute to earn higher revenue.
Moreover, digital marketing helps in earning higher profit as compared to other traditional
method and it gives extra feature for increasing company growth.
CONCLUSION
From the above report it has been concluded that marketing is the process of selling and
delivering the product and services in the market. It is also crucial part of business as it helps in
building network with suppliers that contributes in increasing overall growth of the company.
Along with this, the report has also summarized about digital marketing a way it contributes
in improving the performance of organization.

REFERENCES
Books and journals
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of Economics and Management Engineering, 13(6). pp.809-813.
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companies: Integration of Boston Consulting Group matrix and Ansoff
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Kudriavtceva, A., 2019, March. SWOT-analysis of digital technologies for an industrial
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Saura, J. R., 2021. Using data sciences in digital marketing: Framework, methods, and
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Stead, M. and Hastings, G., 2018. Advertising in the social marketing mix: getting the balance
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Suciati, T. R., Kurniawan, D. and Iswahyudin, M. D., 2020. SWOT Analysis and Ansoff Matrix
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Sudari, S., and et.al., 2019. Measuring the critical effect of marketing mix on customer loyalty
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