Marketing Principles and Techniques: Analysis and Application

This report, titled "Unit 3.24 Marketing Principles and Techniques," provides a comprehensive overview of marketing concepts. It begins by defining marketing and exploring various activities within a marketing department, including brand definition, campaign management, and internal/external communication. The report then delves into market segmentation and the marketing mix (product, price, place, and promotion). The second section focuses on market research, outlining its aims, methods (surveys, focus groups, interviews), and analysis tools (perceptual mapping, resource allocation, Bass diffusion model, and decision trees). The third section discusses e-marketing methods, such as email marketing, SEO, paid advertising, and social media marketing, along with how companies manage their online image. Finally, the report applies the learned concepts by researching a target market using market analysis techniques, specifically focusing on older customers and their needs. The report provides a thorough exploration of marketing principles and their practical applications.

Unit 3.24 Marketing Principles and Techniques
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Contents
Introduction......................................................................................................................................3
Task 1 –What is marketing?............................................................................................................4
Task 2 –Market research..................................................................................................................6
Task 3 – E-marketing.......................................................................................................................8
Task 4 – Applying the learning.....................................................................................................10
Conclusion.....................................................................................................................................12
Reference.......................................................................................................................................13

Introduction
Marketing can be considered the premier concepts of any kind of business which keep
focuses on introducing fast the products to the customers. Marketing functions are also
described in the marketing mix in which the marketing analysis, as well as the marketing
research, is revealed in this paper. To succeed in the marketing area of the organization, there
is no alternative to the marketing segmentation based on the customer’s choices and
preferences. The marketing department is nowadays seen to use the technological issues in
the operations which accelerate the marketing functions in a company.

Task 1 –What is marketing?
Marketing: Marketing is nothing but the combined actions taken to promote the products
into the customers who are perceived the potential customers for that product and the actions
are also conducted through advertising or sometimes offering cost-free products.
Describing the diverse activities carried out in marketing departments in other
businesses. Providing examples to help the colleagues understand the full range of
activities they could undertake to promote the business
The diverse activities of a marketing department are as follows:
Brand defining: The marketing department for any company basically tries to provide
emphasis more on introducing the brand name to the customer as fast as they can so that the
sales are increased and the value of the company might be increased as well. For example, the
company can make advertisement in different concepts via TV or social media.
Campaign management: In this purpose, the company can arrange a wide range of
campaign program in different places of the locality even internationally to get their products
familiar into the target market. For example, a weekly program for promoting the products
Sandalina soap by providing free to the users to test the quality (Baines, 2015).
Communicating externally and internally: The department remains busy with the external
and internal bodies of the markets to get their products introduced to them and communicate
in various ways, which are beneficial and cost-effective for the company. For example, the
company can make various letters, emails or messages to the various potential users
internally and externally as the electronic media is too much fast.
Explaining market segmentation as a tool to identify customers. Giving examples of the
different market segments the business attracts
Market segmentation: Market segmentation is the process of dividing the customer's groups
based on different characteristics and behaviours of the customers especially based on their
preferences to use the products. For example, in our case, the business basically wishes to sell
the 4 categories of soaps for the child, the middle age, the young and the old persons based on
the level of skin for taking skin care.

Market segmentation is perceived as the best tool to identify or to categorize the customer
groups. The purpose of the company is basically to meet the demands of the customers who
are from different groups with different choices. No one can be kept out of their business by
the market segmentation.
Market segmentation leads a company to make their campaign program personalized. For this
reason, their strategies are granted and accepted as best for making the customers easily
satisfied as they are got to provide the highest priority in their product choices.
Explaining the marketing mix and applying it to the products.
The marketing mix actually implies the 4ps of marketing namely the Product, Price, Place,
and Promotion which are described as below:
Product: It is nothing but the items which are to be sold to the target customers. Our
products Soap of different types are to be sold to the customers by any means with legally
which refers the first mix of the marketing.
Price: The value or medium of exchange which must be paid by the customers to avail the
products from the store. Our business marketing department actually fixes the prices by
bearing mind in the different factors which basically influence the customers of different
groups to buy the products easily and the sales volumes are increased.
Figure 01: Marketing mix (Baker, 2011).
Place: Place is nothing but the mentioning of the point of sale for the products. Our business
basically tries to locate the customer's groups in which the sales possibility is higher. For
example, one of our branches is located in the most crowded places in the city.

Promotion: The activities or actions taken to get the products introduced to the users are
called the promotion in the marketing mix. It is an important mix of marketing as it reaches to
the doors of the customers by providing the products soaps of different types in our business.
Task 2 –Market research
Explaining the aims of research and market analysis
The validity of market system: The business needs to conduct research as well as market
analysis to measure the validity of their purposes whether there is the target customers are
present or not to buy the goods because the market may be changed dramatically time to
time.
Mapping the market system: The market is changed frequently and the research is only the
solution to identify the mapping of the market to find out the opportunities ahead on the
business. The major role players and the key influential factors are found through market
research and market analysis as well (Elliott, 2011).
Identifying the constraints and opportunities: The market research actually helps to
identify the constraints and opportunities of the company in the market.
Building Credibility: The market research and analysis makes the credibility of the market
as well as the customers as the initial foundation and designs the intervention.
Describing market research methods. Giving examples of methods that would be
suitable for the own organization.
Surveys: The surveys are basically conducted by the face to face observation, making
questionnaires and so on. The purpose of the survey is to know the information from the
customer directly especially making a target based question in which the surveyors want to
gather.
Focus groups: The focus groups are the combining group of the same or different mind
people in which the leader basically leads their meetings but not their mind. In this case, the
group is asked to generate information based on the target or selected criteria the leadee3r
wishes to gather for the particular market or product or service of the business (Grewal,
2013).

Personal interviews: The best popular method of collecting information via conducting the
research and is accepted unanimously in the world. In this case, the target group is selected
and placed for making the interview in formal or informal ways and generates the research
information which is useful to the company relating to the interviews question.
For my own organization, the personal interview method will be the best for the customer
groups are segmented in my organization. They will be asked personally when they come to
the shop for purchasing the goods.
Outlining market analysis tools and techniques that could be used
Perceptual mapping: These maps take exact client based assessments of key brand qualities
and make an interpretation of this information into visual maps. These maps give a technique
for figuring the ROI of situating changes, recognizing item qualities and shortcomings and
deciding neglected client needs.
Resource Allocation: By consolidating administration science, recorded information, and
official judgments, this model can be utilized to estimate and allot showcasing assets, for
example, salesman headcount.
Bass diffusion model: The method is all about the no reliance on historical data. It actually
makes the perfect forecast for the revenue generating and the ways how to achieve it
(Heidingsfield, 2010).
Decision trees: This method is regarded as the best method because all of the large volumes
of decisions are divided into pieces which are easy to manage and manipulate. It also
analyses the expected outcomes.

Task 3 – E-marketing
Describing the methods used to e-market products and services
E-mail marketing: Various types of products and services are offered nowadays via using
the electronic social networks like the emailing system to the various types of targeted
customers into the specific area based on the customer preferences. It is one of the best
methods due to its lower cost feature and fastest way of communication and distance is never
an impediment right now.
Figure 02: Symbolic E-marketing products and services (Kotler, 2012).
SEO (Search Engine Optimization): SEO is nothing but an art or a design to make the best
appearance of the products and services into a website or web page. Based on the targeting
keywords the advertisements appear on the customers when the browse different websites at
a time or different time.
Paid advertising: There are various service providers which act as a representative of the
base company by showing the ads on their websites and it is obvious through the paid
activities for a specific duration or period. For example, Linkedin, Google AdWords etc.
Social Media Marketing (SMM): Social media users are huge in numbers and they see the
advertisement on the social communication websites or pages like the Facebook's pages are
the most popular in this case.

Explaining how companies manage their online image.
The following ways are used by the companies to manage the online image:
Keeping place as the first position on the search results: The customers are nowadays too
much care about buying something from the online shop and it is in increasing trend actually
in which the markets are conducted fully virtually and customers feel comfort into it. In this
case, they search for their desired products on different websites by using the search engine
on the web. The first link is about to open most of the times first. So becoming the first
position in the search results in different search engines are managed by the companies by
using SEO or SMM procedures to achieve the goal.
Painting the pictures before making exhibition: The companies always find the best
method in designing their products into the web and for this, they make the design to
represent the goods to the viewers who enter into the websites in various purposes. In this
case, the web designer paints the services by making the short descriptions of the products
and then exhibits it to the ultimate users of the web and make influence to buy (Myers, 2017).
Looking for common threads: The most common threads, which are also used by another
company in the area of business or locality namely the methods are the Facebook search,
google search, yahoo search and so on. The companies keep the FAQ or frequently asked
questions option to provide the services on 24 hours basis and instant replies are sent to the
users by using different social media.

Task 4 – Applying the learning
Using market analysis techniques to research the target market for the own product or
service
Researching the target market by using market analysis techniques
Target market: Old age customers who need physical cares besides products quality.
The techniques are as follows which are used to research the target market for the own
product:
Using the secondary sources of information: As the first action of market research for the
product of the business, it is crucial to collect data available in the market known also as the
secondary data. Outside of the business, the overall areas and the information are to be
collected via using newspaper, magazines and trade journals even in form blogs (Bacon,
2014).
These actually provide the information of the updated area about the customers. For example,
how many people are old aged and are also suffering from skin problems for using the lower
quality soaps in this area, and this is the target market in which the own business wishes to
discover for marketing the same soaps with the best quality to remove the problems of
customers and ultimately increase the sales volumes.
Collecting own market area data related to the target market: The tools are used in this
case to collect the own data namely the method of observation, surveys, focus groups and
product testing.

Figure 03: Collecting data for the soap industry and the users (Baines, 2011)
Checking out the competition: The competition is lower comparatively as the same area of
business is much but little in providing the best quality soaps to the old aged people.
Product analysis: The product is made based on the target market especially for the old aged
people who will be recovered by getting relieved from the skin problems by the natural
elements used in each soap.
Interpreting the findings of the market research and market analysis
The largest volume of users and the highest possibility of sales: The market research for
the product of the business reveals that the users in that locality are huge who can be the best
potential customers in the business. The target markets are selected from the product
variation form the other type of soap industry or business by making changes into the soap
quality to remove the skin problems of the old aged customers.
Very much keen users are creating demand for the product: The old aged people are the
main target customers for this product. So the quality is in its best manner so that the people
feel safe from their previous problems. The survey result says that they are wishing to get it
immediately.
Availability of raw materials and largest production capacity: The availability of raw
materials are near to the company branches in which the transportation facilities are also
flexible. So the production can be made in huge numbers as demand is rising.

Presenting the findings to the marketing team.
 The survey results are must prepare in an authentic format, which can be presented to
the head of the production team, and the estimates for the production capacity also be
huge in numbers.
 The cost will be lower as the products will slightly change not wholly.
 The old aged people are easy to convince and they can be the best sources of the large
customer base as the demands are huge from them. So the production should be
conducted in the best possible effective manner.

Conclusion
Marketing is the main theme of the business as the products are the main element in a
business which needs to be marketed by the marketing team. The products are introduced by
the marketing department to the new or existing market and the marketing mix helps to
identify the keeping of right places for the effective actions to be made in the business
(Mcmurtry, 2017). Market research and analysis is a vast part which should be taken as
seriously in the best manner so that the right information is gathered and made the business
highest sales volume and increases revenue.

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