Comprehensive Report: Marketing Principles and Techniques Analysis

This report provides a comprehensive overview of marketing principles and techniques, encompassing various aspects of marketing strategy and implementation. The report begins with an introduction to marketing, defining its core activities and the significance of market research. Task 1 delves into the diverse activities within marketing departments, detailing customer profiling, product pricing, public relations, and social media management. It then explains market segmentation, emphasizing its role in identifying customers based on socio-economic factors, behaviors, demographics, and geographic and psychographic considerations. The marketing mix, including product, price, promotion, and placement, is also thoroughly explained. Task 2 focuses on the aims of market research and analysis, outlining the methods used, such as surveys, focus groups, interviews, observations, and field trials. Furthermore, it describes primary and secondary research tools and techniques. Task 3 applies market analysis techniques to a selected product (electronic products), utilizing SWOT and PESTLE analyses to research the target market. It then discusses how to interpret the findings and present them to the marketing team. Finally, Task 4 describes methods used in e-marketing, including search engine marketing, online advertising, and social media marketing, and explains how companies manage their online image. The report concludes by summarizing the key findings and emphasizing the importance of marketing research in today's business environment.

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[Marketing Principles And
Techniques]

Contents
Introduction......................................................................................................................................3
Task1................................................................................................................................................3
1.1 Description of diverse activities carried out in marketing departments in businesses..........3
1.2 Explain market segmentation as a tool to identify customers...............................................5
1.3 Explanation of marketing mix...............................................................................................6
Task2................................................................................................................................................7
2.1 Explain the aims of research and market analysis.................................................................7
2.2 Describing market research methods.....................................................................................8
2.3 Outlining market analysis tools and techniques....................................................................8
Task3................................................................................................................................................9
3.1 Use market analysis techniques to research the target market for a selected product or
service..........................................................................................................................................9
3.2 Interpreting findings of market research and market analysis.............................................10
3.3 Present findings to the marketing team................................................................................11
Task4..............................................................................................................................................11
4.1 Describe the methods used to E-market products and services...........................................11
4.2 Explain how companies manage their online image...........................................................12
Conclusion.....................................................................................................................................13
References......................................................................................................................................14
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Introduction
Marketing research is to provide valuable information about a product or service to the manager
about a product or service for the specific market. For solving organizational problem, manager
needs the valuable information of the product and services of the specific market. Manager gets
directions from the valuable information of the market which is effective for solving the potential
problem of the business for the issue of marketing (Uncles, 2002). The influencing issues of
market research and market analysis are Macro and micro levels, identify the market/consumer, and
identify customer needs.
Task1
1.1 Description of diverse activities carried out in marketing departments in
businesses
For gaining the customers’ wants and needs through offering products and services are called
marketing by individuals’ social and organizational activities is called marketing.
The marketing activities: Some core activities are done in the marketing departments in
business and they are research, customer profiling/segmentation, targeting, advertising/promotion;
pricing, public relations (PR) and managing social media.
The marketing research in business: Valuable information about a market for a selected product
or services, collecting and evaluating processes are known as marketing research in business
organization (Grosjean, 2005).
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Figure1: Market research
Customer profiling or segmentation: Identifying ways of customers’ needs and wants are the
main issues for segmentation because according to the needs and wants market are divided which
is known as marketing customer profiling or segmentation. The affecting issues of marketing
customer profiling or segmentation are identification of customers’ needs and wants, market size
and the promoting issues of marketing.
Product pricing: Determining and elevating the product or service values is known as mainly
pricing of the product or service. It is the most considering issue for marketing department in
business organization because this appropriate pricing is the determiner of the business success.
Figure2: Product pricing process
Public relation for marketing: Creating attraction of the customers to the product and service
and making a favorable image of product and service to the customers are the result of public
relation. The relation is effective for marketing because this increases the sales of products and
services.
Social media managing issue: Social media is effective for public relation and better
communication of marketing. That’s why managing social media is one of the most important
facts for marketing in business. It is also the way of presenting satisfaction of a product and
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service. Thus it has become one of the discussing methods of marketing like facebook is the most
used social medium and it is used for achieving satisfaction and responses of customers.
Figure3: Social media workflow
1.2 Explain market segmentation as a tool to identify customers
Customers’ needs and wants identification and dividing the market according customers’ needs
and wants as well as their position or regional situations are the determiners of marketing
segmentation. The main issues or factors of customers which determine marketing segmentation
are socio economic situations of the customers and their behaviors, demographic factors,
psychographic and geographical issues (Segmentation of electricity market for households in
Slovenia, 2010).
Socio economic situations of the customers: The socio economic situations of the customers
indicate Population, policies of a society, customs, economic facts and technological development.
Customers’ behaviors: These indicate the royalty of the customers and their personality about the
products and services.
Demographic factors: Occupational issues indicate the demographic segmentation of marketing.
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Geographical segmentation: Location segmentation is known as geographical segmentation of
marketing.
Psychographic segmentation: Expectation and the lifestyles of the customers are main issues for
psychographic segmentation of market.
Figure4: Market segmentation factors
1.3 Explanation of marketing mix
Combination efforts of product, price, promotion, and placement are called marketing mix and
this is the set of actions and tactics for ensuring the best quality of product at appropriate price.
Core elements of marketing mix: Ensuring the best quality of product at appropriate price, the
essential elements of marketing mix are product, price, promotion, and placement (THE
MARKETING MIX: A REVIEW, 2014).
Product: The marketing and business core issue is known as product and it is the delivering
issue to the customers and all development is ensured for this element of marketing mix.
Price: The ways of determining the value of a product or service is pricing and the value is
known as price.
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Placement: The effective location is known as place of marketing mix and the ways of
determining the marketing place is known as placement.
Promotion: Through feedback and editing promotion is ensured at the last stage of marketing
mix. This is the last step of marketing mix and it is related with the customer satisfaction.
So, marketing mix is the combination efforts of product, price, promotion, and placement.
Figure5: Marketing mix
Task2
2.1 Explain the aims of research and market analysis
The aim or objective of marketing research is to provide valuable information about a product or
service to the manager about a product or service for the specific market. For solving
organizational problem, manager needs the valuable information of the product and services of
the specific market (Research, 2014). Manager gets directions from the valuable information of
the market which is effective for solving the potential problem of the business for the issue of
marketing. The influencing issues of market research and market analysis are Macro and micro
levels, identify the market/consumer, identify customer needs, identify problems/product or service
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improvements, look for new markets, monitor existing markets. Analytical information is helpful to
the market research and effective to develop market position.
2.2 Describing market research methods
Marketing research indicates the information about a product and service is used as an essential
issue to solve the problems and it has strategies and processes of steps.
Marketing research method: The strategies and processes of collecting valuable information
about product and service of a specific market are known as marketing research methods.
Marketing research methods’ issues are given below:
Survey of the information: Some core straightforward questionnaires are the effective ways for
survey.
The focus group: Target the specific groups of people for marketing is known as focus groups
and they are the effective for marketing research.
The personal interview: It is one of the effective ways of marketing research.
Observation: By observing the actual behavior of people from the individual and getting
information about product and service is called observation of marketing research.
The field trails: Product modification, pricing and improvement of packaging, customers’
responses marketing research is field trails research of marketing.
2.3 Outlining market analysis tools and techniques
Primary and secondary are two kinds of marketing analysis tools and techniques. They are the
most common tools and techniques for marketing research.
Primary research tool and techniques: Through interviews, questionnaires and focus groups
methods are the primary research tool and techniques for marketing research. Besides these
factors the process must be simplification. Going to the research field is the foremost fact of
primary research.
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Secondary research tool and techniques: Through analyzing qualitative and quantitative
method by using secondary data is secondary research tool and techniques (Rao, 2005). Reuse of
Primark market survey is the example of secondary research technique and it is the effective way
of research.
Figure6: Marketing research tools and techniques
Task3
3.1 Use market analysis techniques to research the target market for a selected
product or service
The chosen product is electronic products.
Micro technique and macro technique are two types of marketing analysis techniques and for a
selected product or service, a business organization must take these analysis techniques.
Reaching to the target market, these competitive analyses play effective role through market
research.
Micro technique: SWOT analysis is one of the techniques to research the target market for the
selected product and service. The strength of the product or service, weakness of the selected
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Market analysis tools and
techniques
Market analysis tools and
techniques
Primary
research
tools and
techniques
Primary
research
tools and
techniques
Secondary
tools and
techniques
Secondary
tools and
techniques

products or service is exhibited by the SWOT analysis. Opportunities and threats of the selected
products and services are exhibited by the SWOT analysis.
Macro technique: The PESTLE analysis is another one of the techniques to research the target
market for the selected product and service. Political issues, economical situations, social
customs, legal issues, environmental facts and technological changing influences are exhibited
through the PESTLE analysis (Williams, Lee and Haugtvedt, 2004).
Figure7: PESTLE analysis
Competitor analysis: Ensuring the development of the selected product or service for the target
market, competitive analysis plays effective role.
3.2 Interpreting findings of market research and market analysis
The main findings of market research and market analysis for a target market of a selected
product or service are the review research goals, organize data and identify patterns.
Political issues, economical situations, social customs, legal issues, environmental facts and
technological changing are the interpreting facts for market research.
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Review research goals: Review is a effective issue for achieving the goals of marketing and
research goals of marketing is the result of review. SWOT analysis and PESTLE analysis are two
kinds of techniques or tools for re-viewing goals of marketing.
The organized data and identify patterns: These are the findings of marketing research and play
effective role for development of the selected product or service for the target market (Ereaut,
2002).
3.3 Present findings to the marketing team
Both micro and macro techniques are the presenting findings of marketing team. For exhibiting
the selected products ‘strengths, opportunities, weakness and threats, SWOT analysis is effective
technique. PESTLE analysis exhibits political issues, social culture, economical conditions, legal
issues and technological advanced issues are found for the selected product or service of target
market for getting competitive advantages. Market positions’ strength and weakness are
exhibited by the competitor analysis.
The reflecting findings like above these are the presenting facts to the marketing team.
Task4
4.1 Describe the methods used to E-market products and services
E-marketing indicates the Search engine marketing, pay per click, search engine optimization, on
line advertising, viral marketing, on line reputation management and email marketing. It has
become common affair in the present marketing system both home and abroad.
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Firure8: E-marketing
The search engine marketing: The process by which traffic and visibility are noticed through
search engines of both paid and unpaid efforts is search engines marketing. Pay per click is one
of the best examples of search engine marketing.
The on-line advertising: Internet based advertising is online marketing (Piercy, 2002).
The viral marketing: It is the marketing which indicates the web site messaging.
The e-mail marketing: It the marketing by using e-mail.
The social media marketing: It is the marketing by using social media like Twitter.
4.2 Explain how companies manage their online image
The online managing image and benefits are cost, global reach, scope, allows interactivity,
immediate, allows targeting from traditional marketing techniques.
Cost: Online marketing is less cost and speedier than the tradition marketing technique.
Global reach: It is easy to reach in the work market through the online marketing.
Scope: Online marketing creating more scope for knowing the work culture and their influences.
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Allow interactivities: Online marketing is the combination of allowing interactivities to create
effective communication between the customers and organization through the permission of
interactivities.
Target: Online marketing can easily perform to fulfill the target and hence the most considering
issue is online marketing in the present competitive world.
Conclusion
Marketing research indicates the information about a product and service (Sontakki, 2010). The
strength of the product or service, weakness of the selected products or service is exhibited by
the SWOT analysis. PESTLE analysis exhibits political issues, social culture, economical
conditions, legal issues and technological advanced issues are found for the selected product or
service of target market for getting competitive advantages. Traffic and visibility are noticed
through search engines of both paid and unpaid efforts are search engines marketing
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References
Ereaut, G. (2002). Analysis and interpretation in qualitative market research. London: Sage.
Grosjean, M. (2005). L’awareness à l’épreuve des activités dans les centres de
coordination. Activites, 02(1).
Piercy, N. (2002). Market-led strategic change. Oxford: Butterworth-Heinemann.
Rao, M. (2005). Knowledge management tools and techniques. Amsterdam: Elsevier
Butterworth-Heinemann.
Research, G. (2014). Insulin Market Analysis By Product (Fast Acting, Short Acting,
Intermediate Acting, Pre-Mix and Long Acting), By Segments (Insulin Analogs And Human
Recombinant Insulin), By Application (Type I and Type II Diabetes) And Segment Forecasts
To 2020. San Francisco: Grand View Research.
Segmentation of electricity market for households in Slovenia. (2010). CBR, 09(07).
Sontakki, C. (2010). Marketing research. Mumbai: Himalaya Pub. House.
THE MARKETING MIX: A REVIEW. (2014). ELK Asia Pacific Journal of Marketing and
Retail Management.
Uncles, M. (2002). From Marketing Knowledge Tomarketing Principles. Marketing Theory,
2(4), pp.345-353.
Williams, J., Lee, W. and Haugtvedt, C. (2004). Diversity in advertising. Mahwah, N.J.:
Lawrence Erlbaum.
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