Marketing Assignment: Understanding Key Strategies and Analysis

This report provides a comprehensive overview of marketing principles and strategies. It begins by defining marketing and explaining the 7Ps of the marketing mix. The report then delves into SWOT analysis, detailing how organizations can assess their strengths, weaknesses, opportunities, and threats. Following this, Ansoff's growth matrix is described, outlining strategies for market penetration, market development, product development, and diversification. The report concludes by exploring the role of digital marketing in enhancing business performance and driving growth, emphasizing its cost-effectiveness, customer loyalty, and ability to target potential customers. The report draws from various academic sources to support its analysis.

1. Explain what is meant
by Marketing?
Marketing is an activity undertaken by
an organization to showcase its product
and services to the customer and to
make the customer feel connected with
the product. Marketing covers from
selling to delivering the product to the
customer. Nowadays, there affiliate marketing where marketing is done on behalf of the
company. Marketing creates networking with the new and the old customer to create an
ideal relationship (English, 1998).
Marketing strategy is the combination of 7ps to achieve the objectives of the marketing
properly. They are (Tapp and Spotswood, 2013)
 Product: Only the right product can fit the right customer to meet the purpose of
the product.
 Place: Once the fit product is made, it is mandatory to make the product available
for the nearest shop or via online shop or e-commerce.
 Price: Representing the product to its fair value for money, as customers usually
like to pay on the product, which works for its purpose.
 Promotion: Advertising, PR, Personal Selling, Social Media, and Sales Promotion
are the standard communication tool for an organization. These are the media
between the correct customer and organization to communicate to inform and get
feedback about the product.
 People: An organization is run by several people, from the Sales staff to the
Managing Director. Only the right people for the right place is mandatory to run
the company smoothly and efficiently.
 Process: The delivery of the product should be done in front of the customer as the
customer should know what they are paying for.
 Physical evidence: Customers should have the physical evidence for their service
or product they are paying. Though there are some services which are intangible
like a hair salon completed hairdo should also be known as physical evidence.
2. SWOT analysis
To achieve any goal, an organization has to penetrate the market place; for this, they have to
know how to conduct marketing to remain competitive. To create a competitive place in the
market, an organization can use a SWOT analysis. In simple words, SWOT analysis means

analyzing the strength, weaknesses, opportunities, and threats of the organization. In which
strength and weakness are the internal and opportunity and threat are external
factors(Schuman, 2017).
Internal factors
External factors
Figure 02 SWOT analysis
For internal factors:
 Strength: For any organization, strength means those factors which are they incredibly
own. Alternatively, any factors which create distinguish between other organizations.
As strength is an internal factor in increasing it, the organization should motivate their
employee. Alternatively, it can increase its production level. The central aspect of
strength is a convenient part of an organization.
 Weakness: If an organization know about their weakness, that means they can easily
beat up the market. Weakness is such a thing which should not be acknowledged by
other organization. Weakness creates from tranquilizing employee or an inadequate
level of supply. To overcome the weakness the organizations should decide to solve
this problem.
For external factors:
 Opportunities: Opportunities are those elements which arise from an external source.
An organization should always prepare to grab opportunities from others, which lead
them to achieve their goal fruitfully.
 Threat: Threat can occur from an external source, like the same product competitive.
For this, an organization should always think two steps ahead to ruinous them
quickly.
2. Describe Ansoff’s growth matrix
Strength Weakness
Opportunities Threats

The Ansoff Matrix, also known as the Market/Product Expansion Grid. Every company uses
this tool to evaluate their strategy the plan to sustain in the competition field. It helps to
identify the overarching strategy the company should use and the tactics the company should
use for marketing activity (SankaraNarayanan, 2012).
Figure 03 Ansoff’s growth matrix
Ansoff growth matrix is the tool to put communication for strategic planning
initiatives to see the growth of the company. The four strategies of Ansoff’s growth
matrix are (Dawes, 2018)
 Market Penetration: It is the position where the organization has a product in
a known market where the company needs to grow more in the market, for
example, telecom products. In these cases, competition is very much intense,
so to cater to the same market and grow company needs to go out of t way.
 Market Development: In market growth, strategy market development is the
second phase. The company, in this phase, hit a new market with its existing
product. Footwear is the best example of this. They are branding there product
internationally, expanding their product.
 Product development: This phase is referred to as where the existing
company has a good number of market shares and introduces a new product
for expansion when there are a good number of customer base and also the
current product reach saturation.
 Diversification: In a diversification strategy where a new product is launch in
a new market. One of the famous examples for this is Samsung; they start as a
trading company, and later they become known for the electronics division.

4. Explain how a business can use
digital marketing to improve its
performance and growth
Digital marketing is a process of supplying goods and
services in the means of internet technology. To take
advantage of digital marketing, suppliers and consumers have to connect. If a business can
use digital marketing prolifically, they can earn their target easily.
Digital marketing in improving business performance:
Digital marketing helps a business to become a boulder. On the other hand, it also helps a
business to improve their performance by supplying specific product to the customer to create
customer loyalty, through digital marketing, it becomes more convenient. It helps to reduce
costs, which generates more revenue. Digital marketing also helps to build up the ability to
concur with the global market place. Even with digital marketing, the supplier can know their
customer feedback quickly, which creates effective communication between them.
Figure:04 Digital Marketing
Digital marketing in improving business growth:

In a typical word, business growth means an increase in revenue. By using digital marketing
in business, it helps to generate a better return on investment. As digital marketing uses a less
costing system, it provides more revenue than any other typical business form. Again digital
marketing helps to grow business because it earns customer trust. It also helps to target the
potential customer, which leads to achieving the goal. It also saves the time of the supplier for
this; they can supply more products to the more desire customer at the same time without any
inconvenience.
Reference
Dawes, J., 2018. The Ansoff Matrix: A Legendary Tool, But with Two Logical Problems. SSRN
Electronic Journal,.
English, K., 1998. Understanding science: when metaphors become terms. ASp, (19-22), pp.151-163.
SankaraNarayanan, A., 2012. Chrome RLZ and Unknown Features. International Journal of
Computer Applications, 48(16), pp.49-52.
Schuman, M., 2017. https://www.bls.gov/opub/mlr/2017/article/history-of-child-labor-in-the-united-
states-part-1.htm. Monthly Labor Review,.
Tapp, A. and Spotswood, F., 2013. From the 4Ps to COM-SM: reconfiguring the social marketing
mix. Journal of Social Marketing, 3(3), pp.206-222.