Marketing Principles and Techniques Report: Bloom Perfumery Case Study

This report provides a comprehensive analysis of marketing principles and techniques, focusing on Bloom Perfumery, a small family business. The report covers key marketing concepts such as market research, e-marketing, and the marketing mix (product, price, place, promotion). It delves into market segmentation, including geographical, demographical, behavioral, and psychographic segmentation, and discusses the activities performed by marketing departments, including research and development, customer representation, and innovation. The report also examines market research methods, including primary and secondary research, and the use of tools like PEST analysis. Furthermore, it explores e-marketing strategies such as affiliate marketing, social media marketing, and content marketing. Finally, the report discusses the implementation of learning, including market analysis techniques and interpreting findings to improve business operations and satisfy customer needs.

Marketing Principles
and Techniques

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
What is Marketing.......................................................................................................................1
TASK 2............................................................................................................................................3
Market research...........................................................................................................................3
TASK 3............................................................................................................................................4
E-marketing.................................................................................................................................4
TASK 4............................................................................................................................................5
Implementation of learning.........................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................6

INTRODUCTION
Marketing is one of the most important concept which has to be taken into consideration.
There are different policies which has to be considered to run business in effective and efficient
manner. Marketing department helps to deal with public to tell them about product and service
produced by company. It is important for launching new product and then convey them about
discounts and offers which is effective for growth and development of association. In this report
there is discussion about Bloom Perfumery which is situated in Convent Garden. This is small
family business (Menzel and Shrestha, 2012). This report tells about meaning of marketing,
market research, e- marketing.
TASK 1
What is Marketing
MARKETING
Marketing is the sector which assist company to create awareness about product in
society. There are many changes taking place in demand of customer, after research then those
product are ready then this will be delivered with the help of Marketing department. While
taking use of factors which help organisation to gain business objectives market analysis is done
by marketing department. These days role of marketing is increasing, so this is important to
know what has to be done with which company can get chance of increasing their goodwill.
ACTIVITIES PERFORMED BY MARKETING DEPARTMENTS
There are many activities which has to be considered by organisation to achieve targets.
There are many activities which has to be performed by marketing personnel to achieve business
objective. It is essential that managers of Bloom Perfumery has to make changes in plans and
policies to satisfy demand of society. In this case every department has to work effectively
through which actions can be performed in efficient manner. Some of activities performed by
marketing personnel of Bloom Perfumery are as follows-
Research and Development: Research is important thee days it is essential that company
has to use policies through which they can apply changes in their business policies (Jenkin,
Madhvani, Signal and Bowers, 2014). Research tells what has to be improved through which
business targets can achieve targets in effective and efficient manner. This activity is performed
by marketing department to get positive results.
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Customer representative: In perfume business, manager has to analyse need and then
deliver to society. Customers are the key factor which helps association to grow. Marketing
personnel deals with customer, this helps to know about need of society.
Innovation: Innovation means to come with some new product or services. This is
essential because in perfume business there must be changes in fragrance. This is done by
marketing personnel and provides growth of business (Hair, Sarstedt, Ringle and Mena, 2012).
SEGMENTATION
Segmentation is base of making difference among consumer. There is difference in
demand of people residing in society. So it is essential that company has to make in their supply
material through which they can get good image. In business product are divided, then they can
be effective for satisfaction demand of customer. There are mainly four types of segmentation-
Geographical segmentation- As per this segmentation, there must be difference on the
basis of place where public are residing. Customers belongs to different geographical regions, so
managers has to work according to need of their demand.
Demographical segmentation- There is difference in income, gender, caste, nationality,
etc. of customer and they are divided on the basis of demographical segmentation.
Behavioral segmentation- While shopping there is difference in behaviour of customer,
this affects their demand too. There are various purpose for which customer is purchasing
perfumes.
Psychogrpahic segmentation- Under this segmentation customer are bifurcated on
various different basis. It is important to work as per change in perfumes, through which they
enhance their sales.
Basis of market segmentation adopted by Bloom Perfumery is as under-
Gender- In perfume segment this is one of the important component on the basis of
which customer can be segmented. For male and female, there is different perfumes.
Age group- This is also factor which adopted by managers of Bloom Perfumery. As per
difference in age, so there is difference in their perfume demand also (Izvercianu, Seran and
Buciuman, 2012). Youngsters want mild perfume but art the same time elder people want light
and long lasting fragrance.
Income- As per difference in income of customer, they prefer cheap or costly perfumes,
hence mangers can bifurcate on the basis of cost of product.
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MARKETING MIX
Mainly there are four marketing mix, which has to be considered by Bloom Perfumery.
They are as under-
Product- Product means main component which business organisation is serving. There
are possibilities that due to alteration in product features, it is essential to convey it in society.
Price- Price of product must be low so people are ready to intake product. Due to
alteration in prices, marketing must be done in that way (Yi, Lodge and McCausland, 2013).
Place- Place where product is being consumed, then marketing approaches must be taken
accordingly. This helps to attract targets consumer.
Promotion- Promotion is very important as it helps to create awareness related to sales of
product.
TASK 2
Market research
AIMS OF RESEARCH AND MARKET ANALYSIS
Research is one of the important factor which has to undertaken by managers to know
what changes are taking place in business and how it can be implemented in efficient way. There
are some important targets which has to be achieved by making use of change in business
environment. Aim of market research-
Growth prospects- There must be some growth prospects in which managers are
thinking to open or extent business. In case there is less scope then this can not be beneficial for
organisation.
Variation in price and cost- There is requirement to analyse profits can be earned and
cost control measurement. This is effective for company to know because after this they think to
continue with their business expansion ideas.
Availability of resources- There is requirement of resources which assist to make
finished goods available with time. This helps association to know which sources can be used to
make good quality product and services (Bryant and et. al., 2014).
MARKET RESEARCH METHODS
Market research is performed by two methods i.e. qualitative, quantitative research. It is
essential that company has to make changes in their working system, through use of research
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methods. These methods help association to know about steps which can be taken by managers
to establish good image in industry.
Primary research- In this method, there is use of data collected by managers of Bloom
Perfumery personally. This method is more reliable in case of Bloom Perfumery. There is
difference in perception of managers. Interview from customers is good example of primary
research (Main and et. al., 2012).
Secondary research- In this method there is requirement of various sources which
provide data related to some specific subject. There are possibilities that association has to
consider secondary data only after analysing it. Online sources are good example of secondary
data.
TOOLS OF MARKETING RESERACH
To make marketing tool effective, it is essential that company has to analyse market and
then take actions in positive way. Through this research organisation has to make changes in
their plans and processes. In business environment changes are taking place very frequently, so it
is necessary to have proper analysis of external as well as internal environment. PEST analysis is
effective techniques which help managers to evaluate market as well as internal business
components.
Political- In this factor government involvement has being checked. It is important to
work as per government norms, so this makes them effective with change in plans and policies.
Environment- Environment has to be kept in kept because in perfume business. People
prefer to use perfumes mainly in summers, so it is essential that company has to make products
ready through which they can satisfy demand of society (Cătoiu, Geangu and Gârdan, 2013).
Social- Society is the place where business operates. It is essential that company has to
make changes in their product. As there is less demand of perfumes in initial days but these days
perfumes are in more trends.
Technological- Technology is used to manufacture perfumes. It is essential that company
has to analyse which techniques is effective for achieving goals and targets. There are many
changes taking place in machines so manager has to select best and cheap method.
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TASK 3
E-marketing
These days e- marketing is the most effective technique which helps company to now
what can be implemented in effective and efficient way. In traditional days, there are various
sources used through which company to communicate about product and services personally.
But these days e- marketing is taken into consideration which helps to contact with numerous
people at single time (Terpstra, Foley and Sarathy, 2012).
E-marketing means to market product with the help of electronic media. It is essential
that organisation has to select source which is cheap and effective for their growth and
development. Bloom Perfumery can select following sources to market perfumes and deodorants
through electronic media-
Affiliate marketing: In this marketing, there is use of various companies which help
managers of Bloom Perfumery. In this source companies has to give some percentage as
commission over sales.
Social media marketing: These days social media is very active among every group of
persons. So managers are thinking to promote perfumes through Instagram, Facebook, Pinterest,
etc. This helps to grab more and more people. Social media advertisements are cheap and people
can operate it anywhere and anytime.
Content marketing: In this method, managers can use content written by some expert
person related to their product. This content is presented at some authentic site through which
customers can read and gather knowledge.
COMPANIES MANAGE THEIR ONLINE IMAGE
It is important to make good image in front of Bloom Perfumery so they can have good
image in industry. This make effective sales in market, due to change in business through they
can make impactive good will in industry.
Use of Referral code: Referral helps in business growth on online platform. It is essential
that association has to make changes in their plans and policies with the use of policies of current
factors.
Joint selling: They can use help of various other factors which help them to use to
enhance their services. USP of Bloom Perfumery can be effectively displayed to customer.
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TASK 4
Implementation of learning
MARKET ANALYSIS TECHNIQUES
Market research is one of the effe4ctive approach which helps association to improve
their image ion market (Schmidt, 2017). This is effective when managers perform them in
appropriate manner. There is difference in demands of customer and market fluctuations are
taking very frequently. There are SWOT, PEST analysis which helps association to know what
has to be done to make customers satisfied. There is competition in perfume business and as
Bloom Perfumery is small business, so they have to take care market changes effectively.
INTERPRET THE FINDINGS
From PEST analysis managers can know what has to be done to make business activities
in smooth way. Due to alterations managers has to make changes for growth and development of
business. It is essential that governmental factors has to be considered properly, so they can
avoid political p[arty interference (Lagarde, 2012). If government interfere then this affects
business policies and mangers can not concentrate on their other important aspects. Environment
also has t be considered. As there are fluctuations in market, then this affects business opertaions.
While performing business activities, in efficient way, managers jhas to kept in mind. So raw
material can be kept properly. As there is need of finance in business to run it effectively, then it
must be used properly. In case funds are not readily available then this affects business
operations. In case of perfume business, there is requirement of less machinery but it must be
effective for performing business and it must be heap for association.
CONCLUSION
From the above report it is clear that small business has to market their product in
effective way, so this helps to make their sales and profit at some higher rate. Marketing concept
must be clear so managers can do planning in proper way. There are various ways of marketing
but best must be selected. There is requirement of cost as well as time for marketing product.
Role of e- marketing is effective as it helps to contact many people at same time and customer
can gain knowledge through online sources. Market analysis must be there which they can apply
in promoting their business. Market fluctuations must be known which help them to know about
corrective measures for business growth. Change in technology means to train workers to make
them work effectively in changed environment.
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REFERENCES
Books and Journals
Menzel, N. N. and Shrestha, P. P., 2012. Social marketing to plan a fall prevention program for
Latino construction workers. American journal of industrial medicine. 55(8). pp.729-
735.
Jenkin, G., Madhvani, N., Signal, L. and Bowers, S., 2014. A systematic review of persuasive
marketing techniques to promote food to children on television. Obesity reviews. 15(4).
pp.281-293.
Hair, J. F., Sarstedt, M., Ringle, C. M. and Mena, J. A., 2012. An assessment of the use of partial
least squares structural equation modeling in marketing research. Journal of the
academy of marketing science. 40(3). pp.414-433.
Izvercianu, M., Seran, S. and Buciuman, C. F., 2012, November. Changing marketing tools and
principles in marketing: functional or fanciful?. Journal of Social Marketing. 3(3),
pp.239-256.
Yi, Z., Lodge, D. and McCausland, S., 2013. Australian academic librarians' perceptions of
marketing services and resources. Library Management. 34(8/9). pp.585-602.
Bryant, C. A and et. al., 2014. Community-based prevention marketing for policy development:
A new planning framework for coalitions. Social Marketing Quarterly, 20(4), pp.219-
246.
Main, D. C. J. and et. al., 2012. Evaluating an intervention to reduce lameness in dairy
cattle. Journal of dairy science. 95(6). pp.2946-2954.
Cătoiu, I., Geangu, I. P. and Gârdan, D. A., 2013. Applying marketing principles in the field of
medical services–an ethical challenge?. Procedia Economics and Finance. 6. pp.449-
456.
Terpstra, V., Foley, J. and Sarathy, R., 2012. International marketing. Naper Press.
Lagarde, F., 2012. Insightful social marketing leadership. Social Marketing Quarterly. 18(1).
pp.77-81.
Schmidt, S. J., 2017. Marketing the law firm: business development techniques. Law Journal
Press.
Online
4 types of Market segmentation and how to segment with them? 2018. [Online]. Available
through: <https://www.marketing91.com/4-types-market-segmentation-segment/ >.
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