L5 Marketing Principles: Marketing Mix, Segmentation & Technology

This presentation provides an overview of marketing principles, focusing on the elements of the marketing mix (7 Ps), methods of market segmentation (demographic, behavioral, psychographic, geographic, lifestyle, benefits), the benefits of market segmentation (focus, competitiveness, market expansion, customer retention, profitability), market research methods (primary, secondary, sampling, observation, qualitative/quantitative, experimentation, ethnography, interviews, focus groups, surveys, questionnaires), and the impact of technology on marketing activities (social media marketing, search engine optimization). The presentation concludes that market segmentation plays a crucial role in product marketing and that technology has significantly transformed marketing activities. It includes references to support the information presented.

Marketing Principle
Activity 2

IntroductionIntroduction
• This presentation has been prepared for the Board of
Directors so that they understand the principles of
marketing.
• It focuses on explanations regarding the elements of
marketing mix, methods of market segmentation, its
advantages, methods of market research and impact of
technology on the marketing activities.

Elements of Marketing mixElements of Marketing mix
The elements of marketing mix are also known as the
7P’s of Marketing. The 7 P’s are :
•Product
•Price
•Place
•Promotion
•Packaging
•Positioning
•People

Methods of Market SegmentationMethods of Market Segmentation
• Demographic
• Behavioral
• Psychographic
• Geographic
• Lifestyle
• Benefits of Market Segmentation

Benefits of Market SegmentationBenefits of Market Segmentation
Following are benefits of market segmentation:
•Focus of Company
•Increased Competitiveness
•Market Expansion
•Customer Retention
•Increased Profitability

Methods of Market ResearchMethods of Market Research
The market research methods include:
•Primary, secondary
•Sampling methods
•Observation
•Qualitative/ quantitative
•Experimentation
•Ethnography
•Interviews, Focus groups
•Surveys, questionnaires

Impact of technology on marketing activityImpact of technology on marketing activity
• The impact of Technology is spread on all the
elements of marketing mix.
• New forms of marketing have emerged such as
social media marketing, search engine
optimization which has made the marketing
activities easier.

ConclusionConclusion
• Therefore, it can be concluded that there is a
great role of market segmentation in the
marketing of the products as it offers a number
of benefits.
• The impact of technology has completely
transformed the marketing activities.

ReferencesReferences
• Babin, B. J., & Zikmund, W. G. (2015). Exploring marketing research.
Cengage Learning.
• Huang, R., & Sarigollu, E. (2014). How brand awareness relates to market
outcome, brand equity, and the marketing mix. In Fashion Branding and
Consumer Behaviors (pp. 113-132). Springer, New York, NY.
• Iwata, J. J., & Hoskins, R. (2017). Technology application in marketing
and sales among small-scale catering women entrepreneurs: a case of
Moshi Municipality, Tanzania. Innovation: journal of appropriate
librarianship and information work in Southern Africa, 2017(55), 4-25.
• Malhotra, N. K., & Peterson, M. (2014). Basic marketing research.
Pearson.
• Taylor, S. J., Bogdan, R., & DeVault, M. (2015). Introduction to qualitative
research methods: A guidebook and resource. John Wiley & Sons.
• Venter, P., Wright, A., & Dibb, S. (2015). Performing market
segmentation: a performative perspective. Journal of Marketing
Management, 31(1-2), 62-83.
• Weinstein, A., & Cahill, D. J. (2014). Lifestyle market segmentation.
Routledge.
• Zhao, S., & Priporas, C. V. (2017). Information technology and marketing
performance within international market-entry alliances: A review and an
integrated conceptual framework. International marketing review, 34(1), 5-
28.