Marketing Principles and Techniques: Business Analysis Report

This report delves into the core concepts of marketing, focusing on principles and techniques essential for business success. It begins with an introduction to marketing, emphasizing its role in satisfying customer needs and wants. The report then explores market segmentation, outlining various types like geographic, demographic, behavioral, and psychographic segmentation. It discusses the marketing mix, including product, place, price, and promotion strategies, and how they apply to a hypothetical herbal product business. The report also covers market research methods, including primary and secondary research, and tools like SWOT analysis. Furthermore, it examines e-marketing techniques such as social media marketing, paid advertising, and email marketing, along with strategies for managing online reputation. Finally, it presents findings and recommendations for the herbal product business, emphasizing the importance of market analysis in achieving business goals. The report concludes with an overview of the findings and their implications for the business's future sustainability.

Marketing Principles and
Techniques

Table of Contents
INTROUCTION..............................................................................................................................................3
TASK 1..........................................................................................................................................................3
1.1: Concept of marketing.......................................................................................................................3
1.2: Market segmentation and their various types..................................................................................4
1.3: Marketing mix...................................................................................................................................4
TASK 2..........................................................................................................................................................5
2.1: Aims of research and market analysis..............................................................................................5
2.2: Market study method.......................................................................................................................5
2.3: Market analysis tools and techniques..............................................................................................6
TASK 3..........................................................................................................................................................6
4.1: Techniques used for E-market product and services........................................................................6
4.2: Certain ways useful for controlling their online reputation..............................................................7
TASK 4..........................................................................................................................................................7
3.1: Use of market analysis techniques to research on the target market..............................................7
3.2: Interpretation of findings.................................................................................................................7
3.3: Presentation of reports....................................................................................................................8
CONCLUSION...............................................................................................................................................8
REFERENCES................................................................................................................................................9

INTROUCTION
Marketing is one of the reliable management exchange relationships which is used to
create and satisfy various customers’ needs and want of an organization. As per the mentioned
case scenario, it has been found that one of the family member are operating small business their
own skills and ability. By without having appropriate marketing knowledge they are not being
able to operate their business in proper manner. This project report is all about analyzing concept
of marketing and their essential research methods those are profitable in coming period of time.
Further this report provided certain crucial aspects related with customers and E-marking are
mentioned under this report. All kind of learning experience those are gather from overall
research is being discussed positively in this report (Ang, 2014)
TASK 1
1.1: Concept of marketing
Market is a place where a product and services can be traded as per the demand of
customer. While marking is known as one of the crucial process which is being used for the
purpose providing products to the customers in that manner in which they get satisfied. To be a
successful in business that must be helpful to attract and retain customer for longer period of
time.
According to the mention case study which is related with production of “Herbal products”
for almost 6 months’ time. The business that is run by them are taken as one hypothetical basic.
In spite of having such a great business they are not able to manage their resources and generate
sufficient amount of profit. There are certain marketing abilities are lacking which can be needed
to be resolve as soon as possible so that future aims and attain in more quick period of time. The
marketing managers is playing an eminent role in promoting business and their aims of an
organization (Armstrong and et. al., 2014). They seem to be future face of the company so some
vital activities are required to be implemented. Some of them are:
 Product planning: The main activity of an organization is to make appropriate strategies
regarding increase the customer size by providing valuable product to them.
 Advertising: This seems to be another important technique which are used for the
purpose of promoting their products in various parts of the nations.

 Direct selling: It is more concern with face to face marketing of products mainly done
business to customers.
1.2: Market segmentation and their various types
In market concept, it has been found that segmentation is one of the appropriate
techniques of marketing which is need to divide product as per the various demand of the
company. It is one of the effective process of dividing a market one the basis of potential
customers into various groups and various characteristics. There are various types of
segmentation. Such as:
 Geographic segmentation: This type of market segment is crucial for the researcher as
people belonging to various regions would have various demand. It drafts personalized
marketing campaign for period.
 Demographic segmentation: It is one of the appropriate market segment which is based
on various aspects such as age, gender, family income, occupation and nationality etc
(Bramer, 2013).
 Behavioral segmentation: The market relies on overall audience attitude, usage and
choice as well as decision making. Market is divided as per the knowledge of product and
usage of goods.
 Psychographic segmentation: It is used to divided the people on the basis of personality,
lifestyle and behavior. This seems to be reliable process which would work by
personality of various customers that consists of habits, traits and attitude.
1.3: Marketing mix
As per the mention case of situation of the company, they are operating for the
production of Herbal products that are being produced by that small family member. In order to
increase the productivity or market position they need to work according to the marketing mix
plans. Such as:
 Product: The company is producing various herbal products such as healthcare FMCG
brand. Some important product is produce for mothers, baby care and personal as well.
 Place: They used to get about 40% of their total earning from local or 60% of the total
sale from international markets. As families are producing products locally and sells it in
the international level (Corner and Randall, 2011).

 Price: As these products are made out of natural ingredients they need to promote their
products by making economical price for their products. It is more balances for according
to the other competitors those are in the same business.
 Promotion: As it reached as their customer through their direct marketing and
promotional techniques. It is mainly uses broacher, pamphlets and printed hording etc.
TASK 2
2.1: Aims of research and market analysis
In every business, it is necessary to make use of appropriate marketing aims that can
make company to plan their business in more effective manner. The primary motive of the
mentioned family business is to make use of appropriate marketing tools and techniques in order
to increase overall aim and objectives of the company (Wright and Watkins, 2010). The motive
behind doing so is to attain maximum growth and revenue in coming period. In order to analyze
the market some vital aspects of business as well as market trends are needed to be taken into
account so that new innovative opportunities can be created. Some of them are:
 Market size: It is mainly associated with the entire business and sales they are doing
within each months. This will assist them to expand their business in more effective
manner.
 Growth rate: It is more common ways those are being used for estimating market
potential which are depend on historical information in coming period. According to the
mentioned business of Herbal product is consider more effectives (Gordon, 2011).
2.2: Market study method
In accordance to get more reliable results regarding the current demand of the customer.
It is vital for appropriate marketing research to manage use all kind of resource that are used
during production process. Such as:
Primary market research: It is known as one of the primary sources of data collection which is
used for the new venture or any other small businesses. It tends to take all raw aspects such as
information gather through focus group or research.
 Survey: This seems to be more effective technique which is consider in primary analysis.
By using this, a researcher would be able to analyze total demand and perception of

various customers. it consists of questionnaire and interviews (Shank and Lyberger,
2014).
 Market observation: This seems to be more reliable method which is being analyze by
using various market trends and data collection techniques. It will guide marketer to
provide those products which is more in demand.
Secondary market research: According to this research method, researcher would be into
consider of all past available trends and data statistic which are already published. This research
is use make analyze of present make demand by comparing it with other one.
2.3: Market analysis tools and techniques
In order to analyze the products of the family business in more reliable manner they need to
into consideration of various tools and techniques. Such as:
 Political: For every product that is being manufactured by the company is more concern
about increasing overall amount of profit. They need to follow all taxation and political
instability that would not affect the business.
 Economic: The products in case of huge inflation products would baby care and
personal caser are more luxury to some people (Hair Jr and Lukas, 2014).
 Social: The main motive of this kind of tools and techniques are associated with people
health. All the products that are harmful for the skin are not be produces. It will make
huge impacts on the people.
 Technology: By the help of latest technology one can easily be able to create huge
amount face cream and face wash. With the use of digital facilities, they order it on
internet by seeing all their specification.
TASK 3
4.1: Techniques used for E-market product and services
There are various kind of E-market by using them one can easily be able to sell their
product and services during an accounting period of time. Some of them are discussed
underneath:
 Social media marketing: It is considering one of the crucial online line market where
various types of products can easily be sold. In case of Herbal business, they need to look

for all those aspects that are needed to be attain in coming period of time. It can be done
through using Facebook, you tube and Instagram etc (Hall, 2014).
 Paid advertising: This seems to be more reliable part of the search engine that are more
effective part of selling products by using any particular site. Customer can easily gather
necessary information about herbal product at any period of time.
 E-mail marketing: These type of marketing is more reliable for an organization which
included all essential aspects of orders that are made by using social sites. By using these
official booking can provide certain amount of discount on purchase of maximum
products.
4.2: Certain ways useful for controlling their online reputation
Protecting image and developing a positive image always required proactive posture. It
consists of various aspects such as:
Setting up google alerts:
 Becomes an appropriate social listener
 Launch a specific planning
 Regular monitoring of feedbacks from various customers.
 Reviews all anticipatory decision making which is being made during the time.
TASK 4
3.1: Use of market analysis techniques to research on the target market
In respect to determine all essential targets of those are set by the company in needed to
be attain in more effective manner (Kerr and May, 2011). It is an essential marketing set of an
individual that are sharing similar needs of small business concern. The best tools which is
reliable for the company is SWOT analysis:
 Strength: This seems to be related with products that are being served by the company in
accordance with quality of the products produce by the company.
 Weakness: The main limitation of this company is their narrow scope of business
operations.
 Opportunities: It is more affordable for all kind of people by the means of using relevant
techniques of other companies (Ramachandran, 2010).

 Threats: The major threat of the company is related with the other products which are
offered by the company in same line.
3.2: Interpretation of findings
From the above analyzing it has been found that in order to increase the profitability of
the company they need to make use of all relevant tools and techniques those are more vital for
future planning. It will assist them to expand their herbal business in various parts of the nations.
In this process they are using various market mix and strategies which are adopted to increase
overall growth of the company in near future period of time. All the data are reliable enough to
for estimating future sustainability for the company (Lefebvre, 2013). Overall results are
required to be effective at internal level of the department for getting proper utilization of
resources of Herbal company.
3.3: Presentation of reports
This particular project report is all about discussing crucial outcomes which are needed to
be taken into account for attaining future aims and objectives of the company. It has been
examining that entire performance of business which is operating at small level is need to make
use of all data those are collected from the research work. It will assist them to attain more
reliable outcome within an accounting period of time. The target market of the Herbal business is
longer operations that is regulating for more than one year of time. The product that are
manufactured by the company is useable for all age group (Legrand, Chen and Sloan, 2013).
This will aid them to attain more valuable outcomes in coming period in terms of profit or
market stability.
CONCLUSION
The project assignment is all about discussing vital aspects of an organization those are
associated with marketing evaluation of the company. In respect to attain better outcomes in
coming period of time, they required to analyze all specific research method those are applicable
for the purpose of increase future aim and objective of the company. However, all matters are
more effective for attaining more reliable benefits for longer period of time.

REFERENCES
Books and Journals: