Comprehensive Marketing Report: Tools and Global Expansion

This report provides an overview of marketing concepts and their strategic importance for business growth. It covers the 7Ps of the extended marketing mix, highlighting how each element contributes to the success of a product or service. The report also explains the SWOT analysis tool, demonstrating its use in evaluating internal strengths and weaknesses, as well as external opportunities and threats, using Tesco as an example. Furthermore, the Ansoff growth matrix is discussed as a tool for identifying optimal expansion strategies, including market penetration, market development, product development, and diversification. The report concludes by emphasizing the role of marketing in facilitating global expansion, highlighting how effective marketing techniques can enhance brand awareness, increase sales volume, and develop a competitive edge in new markets. Desklib provides students with access to this and many other solved assignments.

Introduction to marketing

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
What is marketing?......................................................................................................................3
Marketing mix..............................................................................................................................3
Swot analysis...............................................................................................................................4
Ansoff growth matrix...................................................................................................................5
Use of marketing to grow on a global scale.................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
The following report will be highlighting the concept of marketing and its different
aspect which covers a business and are highly important to consider in strategical and decision-
making process. 7 elements of extended marketing mix will be stated in the report which will
mention different areas of a business that depicts the success of product or service in the market.
Moreover, swot analysis and Ansoff matrix tools will be used to identify the factors impacting
the business and strategies for growth respectively. These tools will be explained with some
examples for better understanding of their concepts.
MAIN BODY
What is marketing?
Marketing is the process of delivering the information about the product and services of
the organization through different ways and elements that are related to the offerings of the firm.
Almost every aspect related to the product and services is including in the marketing and its
ways (Thabit and Raewf, 2018). Packaging, advertising, promoting, place, price etc. are the
examples of the factors that are covered under the concept of marketing. These are the elements
that are presented at different steps of the products such as production stage where the packaging
is focused, selling stage where advertising and pricing is focused.
Marketing mix
7p's of extended marketing mix is explained below:
Product
This is the central element of the marketing mix on which the organization has to put the highest
emphasis because it acts as a face of the firm and for which an organization is acknowledged.
Components and ways of commodities should be innovative along with the relevance with
market demands.
Price
This depicts the value of the product and services offered by a firm. Pricing policy of a
commodity has to be influenced with the facts that depicts the willingness of the customer to pay
for that offering and the prices of competitive commodities should be considered as well.
Promotion

It refers to the offers and advertising of the commodity which should be effective so that the
information regarding the offering can be properly delivered to the customers.
Place
Location where the product is displayed from where the customers can avail it. Place should be
determined according to the feasibility of the customers to reach there.
People
People are the employees of the organization who serves the customers directly and indirectly.
Employees should be skilled and well experience or trained to provide the customers with best
services.
Process
Delivery process of goods and services to the customers has to be designed in accordance with
reliability and efficiency and may depicts the values pertained in the organization such as
environment friendly process can be adopted.
Physical evidence
Physical evidence depicts the presence of the organization through tangible elements which can
assure the existence of the brand in the market (Clarissia, 2019). Offline and online stores can be
counted as a physical evidence of a brand.
Swot analysis
Swot analysis is a tool designed to analyse the macro and micro environmental factors of
a business organization. Swot stands for strength, weakness, opportunity and threats possessed in
the internal and external surrounding of the business. Strength refers to the positive points of the
business that helps them to maintain ab competitive edge over its rival organizations. Weakness
is the gaps of the business that depicts the areas in which the firm lacks behind from others in the
industry that possess an effect the business operation and profitability. Opportunity refers to the
vents or options that can be grabbed by the business to increase its efficiency and gain higher
profits (Benzaghta and et.al., 2021). Opportunities are the platform to the firm where it can target
its upliftment. Threats are the risky factor which can harm the business, its profitability and
survival from different aspects. Below is the example of Swot in context of Tesco where every
element of the tool is described:
Strength:

Tesco is a business organization that deals in the grocery retail sector whose outlets are
introduced with the diversified product ranges. Diversification is one of the biggest strength of
Tesco that has proved to be a factor of competitive advantage.
Weakness:
Failure in some geographical location is a major weakness of the firm where huge losses
were faced by the organization. Irrelevance of the product with customer needs residing in
different countries is weakness that is needed to be focused to enhance business operations.
Opportunity:
One hour delivery services that is provided by Tesco can be scaled up to a higher level
where every outlet of the firm is enabled with this service. Immense profitability can be achieved
by Tesco by adopting this serving practice to a higher level.
Threat:
Retail industry have a very stiff competition which diverge various price policy and other
aspects of the business. Strategies of these competitors possess risk on the business of Tesco
which penetrates dynamics of the market such as pricing.
Ansoff growth matrix
Ansoff matrix is the tool that is often referred as product/market expansion grid that gives
an idea of the expansion which can be most beneficial for the business. Growth initiatives are
being analysed with the help of this tool (Dawes, 2018). This matrix helps a business top
evaluate the expansion strategies by depicting the introduction of product and service to a
market. Four dimension of the Ansoff growth matrix is illustrated below which helps business to
increase the profitability.
Market penetration
This strategy focuses on increasing the sales volume of an existing product and service in
the current markets to cover higher market share. Focusing on this strategy an organization can
use various methods such as effective advertising, work on its pricing policy etc. so that higher
customer base can be attracted towards the brand. Moreover, successfully implementation of
such strategies can help the organization to eliminate the competitors and eventually become
market leader.
Market development

This strategy focuses on introduction of the existing product of a brand in completely
new markets to gain profits from different areas. This is the least risky strategy as it doesn't
require high investment. Following this strategy a company may enter the untapped markets
which have low or no competition in the industry.
Product development
This strategy directs a firm towards innovation in their products and service to out stand
other competitive brands. The introduction of new products in a existing market is focused by
this strategy (Teoli and et.al., 2019). Product development strategy is slightly riskier than other
as it involves higher investment in research and development without any confirmed returns.
Diversification
This strategy takes a firm to a different market with completely new product and service
range which is produced according to the specific demands of the customers in new markets.
Basically there are two types of diversification that is related and unrelated.
Use of marketing to grow on a global scale
Marketing tools are very essential in business as it ensures the viability of the product
through delivering the information regarding the brand to the customer via different methods.
Different types of marketing can be availed by a business to increase the business size and lead
to higher profitability. Business wanted to expand globally can adopt different marketing
strategies to grab the opportunities available in the international markets. Delivering the
information about the business and its offering to the stakeholders of global markets can help the
firm to gain higher recognition in therm market. Effective marketing techniques that provides aid
to the customer needs and contains the element of relativity to the preference of the consumer
can help the firm to grow immensely in the new market. Sales volume can be increased if the
product and services are marketed accordingly (Lim, 2021). Brand awareness is one of the main
benefits of perfect marketing that enhances the goodwill of business. Awareness for the presence
of brand increases the chances of the fir to acquire higher customer base. Further on, competitive
edge can be developed with the help of unique promoting methods. Therefore, global expansion
of a business gets mobile support of the marketing techniques to achieve success.

CONCLUSION
The above report has highlighted the concept f marketing which provides support to the
success of business. Importance of marketing has been reflected in the report that has incarnated
its necessity. 7P's of marketing mix has been marked in the report which can be followed by
organization to achieve higher sales. Moreover. Swot analysis tool has been illustrated as the
technique to analyse the impact of the factor in the micro environment of a business with the
example of contemporary business organization. Further on, Ansoff growth matrix is explained
for the growth and expansion of business.

REFERENCES
Books and journals
Benzaghta, M.A. and et.al., 2021. SWOT analysis applications: An integrative literature
review. Journal of Global Business Insights. 6(1). pp.55-73.
Clarissia, M.S., 2019. A study on Ansoff Matrix Technique: As a growth strategy and an
adaptive learning technique adopted in the leading brand of products. Journal of
Composition Theory. 12(9). pp.1494-1506.
Dawes, J., 2018. The Ansoff matrix: A legendary tool, but with two logical problems. But with
Two Logical Problems (February 27, 2018).
Lim, W.M., 2021. A marketing mix typology for integrated care: The 10 Ps. Journal of Strategic
Marketing. 29(5). pp.453-469.
Teoli, D. and et.al., 2019. SWOT analysis.
Thabit, T. and Raewf, M., 2018. The evaluation of marketing mix elements: A case
study. International Journal of Social Sciences & Educational Studies. 4(4).
1