Marketing Principles Report: Perfetto Juice Company

This report provides a comprehensive analysis of marketing principles applied to Perfetto Juice Company. It covers various aspects of marketing, including the marketing process, benefits and costs of marketing orientation, micro and macro environmental factors, segmentation criteria, targeting strategies, buying behavior, repositioning, and the differences between marketing to businesses versus consumers, as well as international versus domestic marketing. The report also delves into the marketing mix for different segments, new product development, distribution and pricing strategies, promotional activities, and additional marketing mix elements. The conclusion emphasizes the importance of research and analysis in achieving marketing objectives.

Marketing Principles

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Elements of marketing process.............................................................................................1
1.2 Benefits and costs of marketing orientation for Perfetto Juice company..............................2
TASK 2............................................................................................................................................2
2.1 Micro and macro factors which affects Perfetto Juice company..........................................2
2.2 Segmentation criteria for products in different markets.......................................................3
2.3 Choosing a target strategy for selected product....................................................................4
2.4 Affect of buying behaviour on marketing activities in different buying situations..............4
2.5 Repositioned for Perfetto Juice.............................................................................................5
4.2 Difference in marketing products and services to businesses rather than consumers...........5
4.3 Difference between international marketing and domestic marketing..................................5
TASK 2............................................................................................................................................6
4.1 Marketing Mix for two different segments...........................................................................6
3.1 Development of new product................................................................................................7
3.2 Distribution strategy..............................................................................................................7
3.3 Pricing strategy in achieving organizational goals and objectives........................................8
3.4 Promotional activity in achieving organizational objectives................................................8
3.5 Understanding additional marketing mix..............................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing principles refers to a process through which firms can find out the needs and
requirements of customers. All the businesses in the world aim for gaining maximum profit and
it is only possible when firms satisfy their services users. There are mainly four elements
involved in this process which are product, price, place and promotion (Sheth and Sisodia, 2015).
All these four elements are important to carry out research through customers’ needs and wants
that can be easily. Present report is about Perfetto Juice Company which is a fruit juice
producing firm. It is a UK based company that provides their services to 15 different countries.
This report covers different concepts and process which are involved in marketing. Further, it
covers the use of different concepts which are involved in targeting, positioning and
segmentation. Lastly, it also includes the use of marketing mix at various contexts.
TASK 1
1.1 Elements of marketing process
Marketing is a process through which businesses provide information regarding the
services or products developed by organizations (Jobber and Ellis-Chadwick, 2012). As it was
discussed above in marketing process there are four elements involved and these elements are
very essential in satisfying customers effectively. Following are the elements of marketing
process used at Perfetto Juice Company:
Environmental scanning: For an organization it is very important to scan the environment as it
helps in identifying the areas in which the firm needs improvement. Various tools like
environmental scan is possible through SWOT, PESTLE, Porters five forces, etc. (Jung,
Hermann and Phelps, 2013). These tools help Perfetto Juice Company in developing path
through which they achieve their objectives.
Marketing tactics: In order to satisfy the customers, it is very essential to focus on 7Ps (price,
place, product, promotion, physical evidence, people and process)
Strategies of marketing: Division of people on the basis of gender, salary, age, etc. is very
important. It helps in achieving the goals according to the targeted audiences. This is possible
with the help of segmentation, targeting and positioning.
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1.2 Benefits and costs of marketing orientation for Perfetto Juice Company
It is very essential for Perfetto Juice Company to provide their customers with unique
products so as to be competitive. Through market orientation, firm would be able to satisfy their
customers effectively. They will be able to attract more and more customers and in gaining
profit (Armstrong, Adam and Kotler, 2014). With the implementation of marketing strategies
firm identifies potential customers and they would be able satisfy their needs and wants
accordingly. One of the best tool through which customers could be attracted is by providing
them with low price products but with high quality. Through this strategy organization could
compete effectively with their competitors. Benefits which Perfetto Juice company get through
market orientation are improved customers relationship, profitability, upgraded quality of
products, competitive advantages, etc. (Challagalla, Murtha and Jaworski, 2014). In this context,
all the Ps of marketing process are very helpful in positioning its services and products in the
mind of customers. In addition to this, market research and survey are very helpful in knowing
the customer's satisfaction level and in identifying the areas in which they need improvement.
TASK 2
2.1 Micro and macro factors that affects Perfetto Juice Company
Macro environment includes all the external factors which affect the organization.
Following are the factors which affects Perfetto Juice Company:
Political factor: Firm gets affected by the change policies imposed by government. Factors
which affect the organization politically are change in Fiscal policy, tax policies, etc.
Economic factors: This change have a direct impact on the organization. It includes inflation
rate, change in demand, alteration in customer preferences, etc. (Armstrong Denize and Kotler,
2014).
Social factors: Taste and preference of countries would differ form other countries. For some
market it would be favourable but there would market where it won’t be favourable.
Technological factors: Change in innovation affect the business environment. To be competitive
it is essential for Perfetto Juice Company to make changes according to the variation or
innovation in technology (Challagalla, Murtha and Jaworski, 2014).
Legal: In different countries they have diverse laws related to safety, consumer laws, etc. It is
very important for Perfetto Juice Company to follow all the legal laws and to act accordingly.
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Environmental factors: This factor depends upon the environmental surroundings like climatic
change, geographical location. Weather, etc. (Marketing principles, 2016).
Micro environment involves factors which have direct or high impact over the
organization. Firm could make use of different strategies through which they could make
improvements. Following are the factors which affect the firm:
Customers: They are the main source through which firm get to know whether they are gaining
profit or facing loss (Hastings and Domegan, 2013). It is very essential for Perfetto Juice
Company to understand their customer's and in providing them products or services which would
satisfy them.
Employees: They are the one who have direct contact with customers. In other words, they are
the face of organization. Employees should be monitored so that areas could be identified in
which they lack and accordingly, they should be provided with training so that they could
overcome them.
Competitors: There are many competitors for Perfetto Juice Company. These firms use different
strategies so as to attract more and more customers (Qamar, Habiba and Amin, 2014). In this
context, Perfetto Juice Company should be able to use their creativity so that they could compete
effectively.
Suppliers: They provide materials to organization. It is very important for them to maintain good
relationship with them so that firm would be able to develop their products and supply them
according to demand (Principles of Marketing, 2016).
2.2 Segmentation criteria for products in different markets
Segmentation can be defined as a strategy through which targeted audience are divided
into different subsets. It is helpful in developing strategies through which customers could be
attracted easily. Following are the ways through which Perfetto Juice company:
Demography: According to this segmentation division is done on the basis of gender, age,
income, etc. (Brown, Browne and Browne, 2015) According to the products delivered by this
firm. As it was discussed above, Perfetto Juice company provide fruit juice and they have
mainly targeted to athletes accordingly, age group from 10 to 50 has been targeted. All the
customers between this age group are provided with their products.
Psycho graphic: In this, the division is done on the basis of beliefs, life-style, values, etc. fruit
juice are focused on young people. Preference of customers are different and accordingly firm
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should be able to deliver them products through which they would be able to satisfy their
customers (Newton, Ewing and Finch, 2013).
2.3 Choosing a target strategy for selected product
Targeting is very essential for the organization to develop plan with the help of which
they focus on achieving their desired goals and objectives. Following are the strategies which
could be adopted in choosing target strategies:
Research and surveys: This one of the effective strategy which helps the firm in to know the
people would be suitable for setting targets. It is also helps in determining the needs and wants of
the customers and in developing products which would help in satisfying them (Shank and
Lyberger, 2014). There are many areas on which research can be conducted like knowing
customer's satisfaction level, areas in which firm lacks, knowing needs and wants of the
customers, etc.
Differentiated marketing strategy: This strategy is very useful in achieving objectives like brand
recognition and maximization of sales. In addition to this firm can also make distinctiveness of
their products at each customer segment (Lilien, Rangaswamy and De Bruyn, 2013). Further,
they would be able to develop good image among the minds of the customers.
2.4 Affect of buying behaviour on marketing activities in different buying situations
There are many factors because of which buying behaviour of customers affect.
Following are few of them:
Pricing: There are many firms which provide same type of products. Many of the organization
reduces their price and as a result customers buying behaviour changes (Wong and Huang,
2015). They would shift to that particular product as customers get same product at lesser price.
Quality: There are customers who prefer to buy quality products, even if the price is
comparatively high. In this context, the buying behaviour will get affected if firm is not
providing their customers with quality products or services.
Promotional activities: Firm should select their target audience and choose the best tools
through which they will be able to attract their customers (Ennew and Waite, 2013).
Advertisements plays a vital role in affecting customers buying behaviour and attractive
advertisement would help in developing curiosity among customers and they would tent to buy
the product.
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2.5 Repositioned for Perfetto Juice
For reposition of product delivered by Perfetto Juice, firm should conduct research with
the help of which they would get to know the requirements of customers. Further, they could also
make changes in their products according to customer’s preferences (Rollins and Perri, 2013). In
addition to this, they can also hire celebrity who would endorse in the product. As this product
mainly targets on athletes so famous person related to any sports should be hired for
endorsement.
Moreover, they can provide their customers with special offers like discounts, free products, etc.
This types of strategy would help in attracting more and more customers. In this way
organization would be able to provide high competition to their competitors (Marks, Wentland
and O'Connor, 2014). Promotional activities play an important role in conveying information to
the customers and in developing curiosity among them. Further, they can use different social
media like Facebook, Twitter, LinkedIn, etc.
4.2 Difference in marketing products and services to businesses rather than consumers
Both marketing products and services to businesses and consumers are different. In order
to deliver the product to other business, it is very essential for the firm to use different strategies
so that businesses buy their products (Luca and Suggs, 2013). Firms need to give proper
presentation to their clients so that they buy their products. In the presentation, they need to
explain all the features, its durability and quality of product. This is done so that organization can
get positive response from their clients and could sell their products and gain profit. On the other
hand, for marketing products and services to customers have to be done with the use of effective
promotional tools. Customers would buy the product according to taste, presences and through
word of mouth (Eskandari, Miri and Akbarian, 2015). In addition to this, sale could be increased
with the help of adopting various strategies like provide discounts or various other tools which
help in attracting customers.
4.3 Difference between international marketing and domestic marketing
International marketing Domestic marketing
Transfer of goods and services to different
countries
Transfer of goods and services within country.
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Highly risky as it involves effective
management
Less risky
Huge financial resources is required for
transfer of good to different countries.
Less financial resource
Deals with several markets. Deals with single market
Uses marketing principles but needs more
commitment as the laws, regulation and
uncertainty would differ from country to
country.
They use marketing principles but it’s not
complex (Sheth and Sisodia, 2015).
In international marketing, they have to deal
with different set of customers and have to
understand their needs and wants accordingly
In domestic marketing, firms deal with singe
set of customers.
In this organization need to adopt different
types of strategies so as to promote their
products or service.
In this firm are able to use same set of
strategies and policies in order to promote their
product or services.
TASK 2
4.1 Marketing Mix for two different segments
Marketing mix of Perfetto Juice for the age group of children that is form 8 to 15 are as follows:
Products As the target audience would be children. The
products have to be delivered in different
flavours. As their will be children who would
prefer different flavours. The product would be
sold in different flavour of fruits. In addition to
this, it would be helpful in providing valuable
ingredients for growth purposes.
Price Effective research would be done so as to
know the competitor’s price and comparing it
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the amount would be kept low then the
competitor’s price.
Place Product has to be made easily available to
customers so it would be sold on all retail
stores and also online.
Promotion All the promotional tools like television,
different social media, advertisements on
newspapers, etc.
Market segmentation for age group from 16 to 50 are as follows:
Products For this age group product would be sold in
single flavour. Would help to regain energy.
PriceCompetitor’s price would be compared
and pricing would be done.
Place Retail and online market
Promotion Advertisements on newspapers, different social
media, television, etc.
3.1 Development of new product
In order to develop or to introduce new product in the market it is very essential to
conduct market research. Market research would be helpful in determining the preference of the
customers and accordingly they can develop product (Jobber and Ellis-Chadwick, 2012).
According to the market research it was found that there is a need to relaunching of existing
product in an improved manner. In addition to this, they would deliver their product to customers
in different flavours. Target market would be divided into two segmentation that are in two
different age groups which are 8 to 15 and 16 to 50.
Name of the product would be “Improve Perfetto Juice”. All the benefits which the firm
was providing to their customers earlier with added qualities and that also in different flavour
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would be delivered now. In addition to this, effective advertisement will help in developing
different strategies so as to attract customers.
3.2 Distribution strategy
Product would be delivered in such a way that it could be made available to customers
easily. “Improve Perfetto Juice” would be made available to at all the retail shops. In today's
world use of internet has been rapidly increasing. Customers prefer to buy products online. In
this context, Perfetto Juice Company would make use on line marketing and make their product
easily available to their customers (Jung, Hermann and Phelps, 2013). This one of the effective
and easiest form of delivering products. Further, intermediaries would be used so that product
could reach customers easily. There are different distribution channels through which firm can
deliver their product effectively. Among which Perfetto Juice Company should use four channel
distribution that is manufacturer, wholesalers, retailers and then to ultimate consumers. This
would be helpful in making customers know about the product and in attracting more and more
customers.
3.3 Pricing strategy in achieving organizational goals and objectives
There are different types of strategies related to price which could be adopt by the firm in
selling their products. In this context, it is very important for the organization to make a market
research of all the competitors which Perfetto Juice Company has. According to the research it
was found that the average pricing made of 1 litre was £0.99. With this respect, product would be
sold or made available to customers at £0.97 (Strategic Management, 2016). This would be
helpful in attracting customers if firm provides their product at low price compared to its
competitors. In addition to this, the quality on which the product is being delivered is also high.
As a result, selling the product at £0.97 would be effective for customers and it would also
satisfy them. When the sale of product will increase, then the price will also be increasing. This
would help the firm to gain profit.
3.4 Promotional activity in achieving organizational objectives
There are many tools through which firm can promote their products. In order to promote
their manufactured goods effectively, organization should develop attractive and effective
advertisement on television with the help of which they would be able to attract customers.
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Moreover, celebrity would be hired to endorse the product as it would be helpful in attracting
his/her fans. (Stakeholder Analysis, Project Management, templates and advice, 2016). In
addition to this, product can be sold at discount offers or with free products. Moreover, various
social sites would be used like Facebook, Twitter, LinkedIn, etc. so that people can know about
the product. Video can also be creatd and uploaded on YouTube as it is one of the best way to
promote the product. Further, it would also help in knowing the customer's perception about the
product. Newspapers, radio, banners and poster would also be used so that more and more
customers could be informed regarding the product.
3.5 Understanding additional marketing mix
There are mainly three additional elements involved in marketing mix which are physical
evidence, people and process.
Process: It is collecting feedback from customers. They are the end users, they would be helpful
in providing areas in which the product lacks. Accordingly, there can make change and improve
it according to service user’s requirements.
People: Employees are the face of organization and it is very important for the firm to
understand their needs and requirements. They should be rewarded and motivated so that they
could provide effective services to their customers (Wong and Huang, 2015). They should be
monitored properly so that all the areas in which they lack could be determined and accordingly
they should be provided with training so that they could improve them.
Physical evidence: It is the additional services provided by the organization to customers
through their products. This is very helpful in attracting customers and in gaining profit. The
product should designed in such a way that customers could get attracted.
CONCLUSION
From this report, it can be articulated that research plays a vital role in knowing the needs and
preferences of the customers. With this information, organization could develop product or
services through which they could gain profit. Further, it is very important for the firm to analyse
business environment as it helps in knowing the areas in which the firm could make changes and
could compete effectively with their competitors. Price of a new product or service should be
kept less than competitors, as it helps in attracting customers. One way to satisfy service users
are by providing them products and services at low price but with high quality.
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