Comprehensive Marketing Analysis: 4Ps, Research, Segmentation & B2B

This assignment solution provides a comprehensive overview of key marketing concepts. It begins by explaining the 4Ps of marketing (Product, Price, Promotion, and Place) and their importance in creating effective marketing strategies. The solution then details the five steps in the marketing research process, from defining the problem to taking action based on the findings. Market segmentation is discussed as a crucial process for dividing a heterogeneous market into segments with similar wants and desires, highlighting behavioral, demographic, psychographic, and geographical factors. Finally, the solution contrasts business-to-business (B2B) and consumer markets, noting differences in purchasing processes, decision-making factors, and payment structures. Desklib offers this solution along with a wealth of other study resources for students.

Running Head: Business
Business

Business 1
Answer 1
4P's of marketing are
 Product: It can be tangible product and also intangible service that enhances the
satisfaction level of the customers.
 Price: Price of the product helps to make a proper estimation of the profits and marketing
strategy.
 Promotion: It is related to promoting the products by taking into consideration marketing
strategies. Promotion takes into consideration public relations, advertising, and social
media marketing.
 Place: This factor helps to analyze the exact locations to convert potential customers into
actual customers. In the recent scenario, activities are conducted mainly through
websites.
Marketers will implement all these factors by conducting market research and also evaluate
the demand of the customers (Sheth and Sisodia, 2015).
Answer 2
5 steps in the marketing research process
 Define the problem: At the time of conducting market research it is important to evaluate
the problem so that it can be beneficial for the next phase.
 Develop research plan: In this techniques are taken into consideration to conduct the
market research. The techniques are taking interview of the customers, by conducting a
survey on Survey monkey and also online research.
 Gather data and information: The information that is collected should be valid. The
information that is gathered should be scientific and also emotional data that can help to
look at a graph.

Business 1
 Evaluate the data and report findings: In this step, the data is evaluated and the results
are analyzed that they are correct or wrong (McQuarrie, 2015).
 Take action: In this step the research is complete and it is important to present the
findings and start creating marketing campaigns. It is important to search the data
properly so that proper results can be taken.
Answer 3
Market segmentation is a process that divides the homogenous market into the segments
by taking into consideration the similar wants and desires. The objective to design a marketing
mix is to match the customer's expectation. Marketing segmentation strategies are based on
behavioral, demographic, psychographic and geographical differences. It is important to segment
the market so that goals and objectives can be accomplished. The factors that affect the
marketing are the accuracy-related with the policies and resources of the company and also
proper identification of the segment (Cross et al., 2015).
Answer 4
Business to business market is a purchasing process which is difficult as the overall
process is related to the management that depends on the type of the business. Individuals who
make purchase need authority from the groups at the time of making decisions related to
purchasing whereas customer market is a simple process. The major factors that impact the
buying decision of the consumer are taste and preference and reference groups.
There is a difference in the payment structure of the two markets. In business, to business
market, the huge amount is involved and in the consumer market, less amount is involved. This
is just because of the large volume of purchase made in the business to business market as
compared to customer market. Business to business has a complex process as compared to the
consumer market (Solomon et al., 2014).

Business 1
References
Cross, J.C., Belich, T.J. and Rudelius, W., 2015. How marketing managers use market
segmentation: An exploratory study. In Proceedings of the 1990 Academy of Marketing Science
(AMS) Annual Conference (pp. 531-536). Springer, Cham.
McQuarrie, E.F., 2015. The market research toolbox: a concise guide for beginners. Sage
Publications.
Sheth, J.N. and Sisodia, R.S., 2015. Does marketing need reform?: Fresh perspectives on the
future. Routledge.
Solomon, M.R., Dahl, D.W., White, K., Zaichkowsky, J.L. and Polegato, R., 2014. Consumer
behavior: Buying, having, and being (Vol. 10). Pearson.