Marketing Principles and Techniques Report for Biscuiteers

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This report provides a comprehensive analysis of Biscuiteers' marketing strategies, focusing on the principles and techniques used to promote their iced biscuits. The report begins with an introduction to marketing functions, including market research, product development, and promotions, followed by an in-depth examination of market segmentation, covering geographical, demographical, and behavioral aspects. The marketing mix, encompassing product, price, place, and promotion, is also thoroughly discussed in the context of Biscuiteers. The report then delves into market research methods, including primary and secondary research, with a focus on questionnaires. Market analysis tools and techniques, such as SWOT analysis, are also employed to assess Biscuiteers' strengths, weaknesses, opportunities, and threats. Furthermore, the report explores e-marketing methods and provides recommendations for managing Biscuiteers' online image effectively. The findings of the market analysis are interpreted, and the report concludes with a summary of the key insights and recommendations for Biscuiteers to enhance their marketing efforts and achieve their business objectives.
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MARKETING
PRINCIPLES AND
TECHNIQUES
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Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1. Description of Marketing Functions....................................................................................1
1.2. Market Segmentation...........................................................................................................2
1.3. Marketing Mix.....................................................................................................................3
TASK 2............................................................................................................................................4
2.1. Aim of Research...................................................................................................................4
2.2. Market Research Methods....................................................................................................4
2.3. Market Analysis Tools and Techniques...............................................................................7
TASK 3............................................................................................................................................8
4.1. Methods of E-Marketing......................................................................................................8
4.2. How Biscuiteers could manage online image......................................................................8
TASK 4............................................................................................................................................9
3.1. External Market Analysis.....................................................................................................9
3.2. Interpretation of Findings...................................................................................................10
3.3. Presentation of Findings.....................................................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
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INTRODUCTION
Marketing refers to an activity which is associated with communicating a company's
services and products within the marketplace. Agenda of marketing is to develop a positive
perception of these offerings and thus, it is highly crucial for a company to manage the same
effectively. The report below is based on principles and practices of marketing and for the same
Biscuiteers has been chosen as an organisation, which is one of the most effective small family
run businesses in London, UK. The firm has a great product of “iced biscuits”, as the biscuits are
baked for long term used and provide effective taste and refreshment due to being cold and yet
the firm is struggling to market the product effectively (The best family-owned businesses in the
UK, 2019). The company has effective long and short term objectives. For the latter, the
company wishes to enhance its market presence and as for the former, the firm wishes to
enhance its profitability by the end of one year. The report includes an effective insight on
marketing, emphasising on activities under marketing, market segmentation as well as marketing
mix. It also covers market research using several research methods and techniques. In addition,
the report also focuses on internal and external analysis along with focus on E-marketing and
managing online image effectively.
TASK 1
1.1. Description of Marketing Functions
For an organisation, marketing is a very effective operation which is carried out in order
to present one's products and services to the customers. Moreover, there are several marketing
functions which are carried out by an organisation's marketing department. Some of these are
described below: Market Research: One of the major functions of marketing department in an organisation
is to research the overall market. This is necessary in order to analyse the trends and
customer preferences, which allows companies like TESCO to produce products that fill
the gap in the market and fulfil customer's needs effectively (Wright and et. al., 2015). Product Development: Another activity which is performed by marketing department is
development of a product. This department within Volkswagen indulges in analysis of
the market, which allows them to gain insight on several trends which are prevailing in
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the market This, in turn, helps the company in developing those products which would
actually be accepted within the market. Analysis of Target Market: Another effective marketing function performed by the
marketing department of M&S, is that that assessment of market allows a firm to identify
the target customers of a company on which, the organisation could channelise its
marketing strategies and get maximum returns.
Promotions: Marketing department of The Ledbury aids an organisation to promote its
offerings in the market. This further helps in enhancing the familiarity of the company'
products and increases the scope of preference within the market.
1.2. Market Segmentation
Market Segmentation refers to an effective tool or approach, which is used by
organisations to identify their target market. It is crucial for an organisation to determine their
target markets that could help them in integrating their marketing efforts appropriately and
produce and promote offerings that are required by their targeted segments. For this, the firm is
required to analyse several market segments which are likely to be attracted by the business.
Thus, for Biscuiteers, there are several marketing segments that are described below: Geographical: This segment divides the marketplace on the basis of geographical
location. All the marketing strategies of firm depends on belongingness of the customers.
For Biscuiteers, these are the customers from urban areas of the UK which would be
easier or the firm to reach to in order to market its iced biscuits. Demographical: These includes factors like age, occupation, income and other
demographic factors on the basis of which the firm would be developing its products that
could satisfy the demand of this segment. In context with Biscuiteers, the customers
would be general customers of the UK, with age group around 13-65 years, and income
level of more than £1,000. Reason for choosing these factors is that it would allow the
firm firm to narrow down the market and focus on marketing its iced biscuit on these
customers specifically.
Behavioural: In this segment, the market is divided on the basis of behaviour and
attitudes of customers. This is perhaps quite effective for a company as its product would
be developed keeping in mind the preference of buyers. For Biscuiteers, this segment will
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include individuals who are habitual of eating bakery items and prefer different variety of
snacks like the iced biscuits in their meals.
1.3. Marketing Mix
Marketing Mix includes all the elements within the marketing environment of business
that are essential and crucial for them to market their products effectively within the market.
These factors help a company in achieving their marketing objectives appropriately and within
due time. The elements of marketing mix in context for Biscuiteers and their iced biscuits are
discussed below: Product: This element refers to the product strategy which is adopted by a company. The
firm produces iced biscuits amongst other commodities. However, in order to ensure an
effective strategy for long term sustainability of this offering in the market, company is
required to adopt one specific product strategy. Thus, diversification could be the
approach which would allow the firm to indulge in appropriate market research and
develop more effective biscuits as per the market requirements (Velema, Vyth and
Steenhuis, 2017). Price: This undertakes the pricing strategy which is implemented within an organisation.
It is a highly important factor as the preference of products of a company depends heavily
on the price on which it is provided in the market. For iced biscuits, the firm must adopt
pricing penetration strategy and offer these at lower and affordable price to customers. Place: It undertakes the distribution of the offering from its point of origin to point of
consumption. Biscuiteers, in order to ensure higher preference of their iced biscuits, must
offer the same at both, their physical stores, as well as their online portals like Facebook
and Twitter. This would help them reach a wider market and better returns from their
offering.
Promotion: As far as promotions are concerned, it is very important for the organisation
to adopt various diverse methods in order to promote their offering. To attain this, the
company must invest in traditional as well as digital promotions through methods like
Pay Per Click (PPC) promotions and through social media.
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TASK 2
2.1. Aim of Research
Research Title:
“Performance of market analysis by Biscuiteers to determine more about customers and
market conditions for its Iced Biscuits ”
Aim:
To conduct appropriate analysis of the market to enhance knowledge about customers
and conditions prevailing in the marketplace.
Research Objectives:
To enhance knowledge about preference of customers To analyse the market conditions in the country.
Literature Review:
According to the views of Vicky Frost (2019), out of all the snacks present within the
marketplace, customers in the UK prefer biscuits over other food items of the sort. Moreover, an
average household within nations consumes more than 100 packets of biscuits each year. There
is high preference of the customers towards biscuits. Moreover, this snack also supports the
historical culture of this country as biscuits were first made for the sailors within the country and
hence, there is a high level of inclination of customers towards this product in the market.
As per Jenny Eagle (2019), the market condition of UK is very much favourable for the
bakery market. Moreover, there is a projected growth of almost 9% in this market by 2020.
However, the market is being influenced by the low sugar intake in customers of the country
recently. Thus, organisations are modifying their operations that could suit this market.
As per the literature review, it could be interpreted, that Biscuiteers must focus on
developing iced biscuits that are low on sugar content and provide more value to the customers
within he UK (Serrat, 2017).
2.2. Market Research Methods
There are several methods that could be used in research. Some of these methods are
described below:
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Primary Research: The first and foremost method of research is primary method, where
the researcher undertakes research for the first time and for a specific method. There are
certain methods in this research which are described below:
Questionnaires: This is a research tool where questions are provided to
respondents to acquire objective answers. The motive of using this technique is to
quickly provide answers from a wide sample of respondents.
Surveys: In this instrument, subjective questions are asked by individuals in order
to obtain their detailed point of view. This method is used on a handful of
individuals to gain wider perspective on the research topic.
Focus Groups: In this method, a very small number of respondents are focused
upon, generally including experts on a specific area. Their viewpoints are
acquired and on the basis of which a more diverse and valuable information is
acquired. Secondary Research: This is the type of research that has already been conducted by
another researcher and is performed to acquire information already researched for a
certain subject matter. This could be done in three ways mentioned below:
Internet: It is one of the most used tools for secondary research and the researcher
gain useful information through different websites, social media and other
archives available on the net (Resnick and et. al., 2016).
Government Agencies: There are several institutions operated by government
which provide researchers with adequate and reliable information.
Public Libraries: Under this method, researcher approaches libraries as a source
of gathering information. There are different types of books available in these
institutions on almost every subject matter that is easily acquired and saves time
of the researcher.
In context with Biscuiteers, the market research in order to gather more knowledge about
customers and the market would be conducted using questionnaire. The sample size used by the
firm would be 10 individuals who are general customers of bakery items in the country. A
sample Questionnaire is described below:
QUESTIONNAIRE
1) Are you aware about the company Frequency
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Biscuiteers?
YES 4
NO 2
MAYBE 4
2) Have you ever tasted the Iced Biscuits
provided by the company?
Frequency
YES 3
NO 5
MAYBE 2
3) Do you prefer more innovative and
healthy biscuits available to you in the
city?
Frequency
YES 8
NO 2
4) How best do you think the company
should approach its targeted
customers?
Frequency
SOCIAL MEDIA 5
NEWSPAPERS 2
E-MAIL 3
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5) Are there any further recommendations for Biscuiteers?
2.3. Market Analysis Tools and Techniques
It is essential for an organisation to analyse the market in order to appropriately enhance
the scope of applying their marketing strategies favourably as per the conditions prevailing
within the country (Pulker, Scott and Pollard, 2018). In order to do so, below is SWOT Analysis
of Biscuiteers, which would help them in identifying the strengths and weaknesses of the
company against the opportunities and threats available to them in the market.
STRENGTHS WEAKNESSES
The biggest strength of Iced Biscuits is
the necessary and effective innovation
which the company implements in its
development as it is quite creative and
unique concepts to enhance the
experience of having a snack (Nowak
and et. al., 2015).
One weakness which is present within
the firm is inappropriate marketing of
iced biscuits.
Another strength for Iced Biscuits is
favourable organisational structure of
the company that contributes to its
advanced and effective development.
Another weakness associated with the
product is rigidity of the company
towards adopting standard marketing
methods.
OPPORTUNITIES THREATS
Digitalisation is one effective
opportunity for the product to ensure
innovation in its marketing.
There are several competitors like
Yildiz Holdings, which have an
impressive market share already by
their effective cookies and other bakery
products.
The shift in social trends related to After the economic downfall, the firm
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consuming biscuits with low sugar
content is another opportunity for the
product as it contributes to the health
standards of the market.
might face challenges in operating on a
lower scale, which could be another
threat for development of the product.
TASK 3
4.1. Methods of E-Marketing
E-marketing refers to marketing one's offerings by the use of internet. In the era of
digitalisation, this type of marketing allows a company to reach to a wider audience throughout
the world (Nanda, 2015). There are several methods which could be used by an organisation to
market its offerings digitally. The methods which could be used by Biscuiteers are discussed
below: Blogging: It refers to writing and publishing content about a subject matter on an
informative website. This is an interactive practice where the company could inform
individuals about their products through blogging the information about their iced
biscuits. Social Media: As one of the most used methods, this technique is related to marketing
the products with marketing products and services through using social media portals like
Facebook, Instagram, Twitter and YouTube. Firm is only required to develop compelling
videos and animations in order to enhance preference for its iced biscuits. Moreover, they
could indulge in a direct conversation with users and acquire their feedbacks related to
their wants and expectations with the company (Moravcikova and et. al., 2017). Search Engine Optimisation: This process is related through marketing the products and
services through search engines. In this process, Biscuiteers is required to appropriately
optimise website in order to enhance the chance of its ranking in terms of any similar
search performed by individuals/
E-mail: This is one of the most standard methods of E-marketing. In this, the firm could
adopt push marketing as a method to send e-mails simultaneously to a wide variety of
individuals within the market. This would allow them to make themselves and their iced
biscuits familiar with their targeted markets through E-mails.
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4.2. How Biscuiteers could manage online image
For a firm which is struggling to market its offerings amongst the customers, it
becomes highly essential to improve and manage their online image within the market. There are
several ways which could be used in this regard, which are explained below: Enhanced Social Channels: Currently, the marketing scenario prevailing within the
country is associated with inclination towards social media (Lee and Kotler, 2015). For
instance, Virgin Airlines focuses on presenting itself biscuits to almost every social
media portal like Instagram, Facebook, Twitter and YouTube, that allows the firm to
reach a wider market and develop a positive perception of the organisation.
Monitoring: Another way through which the online image of the company could be
managed is by monitoring itself on social media and other platform. One example is
TESCO, which does not search themselves to see whether their products and image are
being perceived in a well manner. This restricts them to implement strategies to improve
their image (Kubacki and et. al., 2015).
Thus, both these examples have an impact on the company and this must influence the
firm in order to adopt the required methods to manage and improve their online image.
TASK 4
3.1. External Market Analysis
In order to enhance the scope of marketing its iced-biscuits, Biscuiteers must
appropriately analyse the external environment to develop prominent strategies related to the
same (King, 2015). In order to do so, below is the PESTLE analysis in context with the
company: Political: The political scenario of UK is quite unstable within UK, following the
uncertainty of Brexit. This could be a threat for the organisation and its product.
However, to overcome the same, the firm must indulge in adopting flexible procedures
that allows it to market itself to various customers falling in the target market that are
present even outside the country. Economical: Economic condition of UK is also experiencing downfall due to decline in
the value of Pound and rise in inflation. However, with rising unemployment, the
company could acquire talented individuals and could provide its iced-biscuits at reduced
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price range to enhance the sales. This would help the firm in approaching its target
customers with income more than £1,000. Social: This factor is favourable for the country as customers are being health conscious
as well as they prefer more innovative and effective products. Thus, Biscuiteers could
provide the customers with more creative and healthier biscuits that justifies the nutrients
need of the individuals falls in between 13 to 65 in order to get their preference at a
higher notch (Jim Burtles and CMLJ, 2015). Technological: As far as this factor is concerned, there are various technologies like
Automation and Artificial Intelligence which is accessible in the country. Thus, by using
the same, the firm could ensure appropriate and modern marketing as this will help to
spread information to more people in target group due to having their familiarity with the
usage of technological devices. Legal: The laws and regulations prevailing in the market are unstable. However,
domestically, the company could ensure effective trade ties with suppliers in order to get
a favourable deal on raw materials. Doing so would allow the company to spend more on
innovating its offering which is the prime demand of its target customers (Graber and et.
al., 2016).
Environmental: There is a high level of environmental concern in the nation.
Environmental Act 1995 and other similar legislations are influencing the company in
working more effectively in respect to the environment. Thus, the firm must market its
offerings by emphasising on the sustainable approach taken by the firm in production and
distribution of their iced-biscuits. Same would help them in attracting their target
customers who demand healthier offerings from the company.
3.2. Interpretation of Findings
It is required by Biscuiteers to interpret the findings of the questionnaires in a way that
strategies to market their iced-biscuits are enhanced (French and Russell-Bennett, 2015). Thus,
below is the interpretations and associated recommendations.
QUESTIONNAIRE
1) Are you aware about the company
Biscuiteers?
Frequency
10
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