Marketing Principles Report: Analyzing Marketing Strategies

This report delves into the core principles of marketing, examining various elements such as the marketing process, benefits, and costs of marketing orientation. It presents case studies on Sleepwell and McDonald's, analyzing micro and macro environmental factors, segmentation criteria, targeting strategies, buyer behavior, and positioning strategies. The report further explores product development for competitive advantage, distribution management, pricing strategies, and promotional activities, using Tesco as an example. Additionally, it discusses extended marketing mix elements, marketing mixes for different segments, and the differences between marketing to businesses and consumers, as well as international marketing versus domestic marketing. The report aims to provide a comprehensive overview of marketing strategies and their practical application, supported by real-world examples and analysis.

MARKETING
PRINCIPLES

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Various elements of marketing process.................................................................................1
1.2 Benefits and costs of marketing orientation..........................................................................2
TASK 2 CASE STUDY..................................................................................................................2
2.1 Macro and Micro environmental factors influencing Mc Donald’s marketing decisions.....2
2.2 Segmentation criteria to be used for products.......................................................................3
2.3 Targeting strategy for selected product.................................................................................3
2.4 How buyer behavior affects marketing activities in different buying situations...................3
2.5 Positioning strategy for new product.....................................................................................4
TASK 3: INDIVIDUAL WRITTEN REPORT...............................................................................4
3.1 How products are developed to sustain competitive advantage............................................4
3.2 How distribution is managed to provide customer convenience...........................................4
3.3 How prices are set to reflect organization’s objectives.........................................................5
3.4 How promotional activity is integrated to achieve marketing objectives..............................5
3.5 Additional elements of extended marketing mix...................................................................5
TASK 4............................................................................................................................................6
4.1 Marketing mixes for two different segments.........................................................................6
4.2 Difference in marketing products to businesses rather than consumers................................6
4.3 Why international marketing differs from domestic one.......................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is generally regarded as the transfer of goods from producer to the seller and
takes into consideration various forms of activities such as advertising, shipping, storing etc. In
the modern era with the rise in level of competition it has become difficult for every business to
sustain in the market and due to this reason effective marketing strategies are required. Further,
their exist large number of marketing principles which every business needs to consider for
operating efficiently and they are differentiation, narrow market focus, strategy before tactics etc
(Fillis, 2003). Moreover, various factors are macro and micro level are present which company
needs to consider for its growth and development. In the present report various organizations
have been chosen named sleepwell, Mc Donalds etc. Every business operates in different sectors
and the range of tasks which report covers are various elements of marketing process, macro and
micro environmental factors, positioning strategy for product etc.
TASK 1
1.1 Various elements of marketing process
Marketing process takes into consideration series of activities through which it becomes
easy for business to operate efficiently in the market. The key elements of marketing process
which Sleepwell has to consider are as follows:
Carrying out market research: It is one of the major element where business company has to
carry out market research in order to determine need and requirement of its target market. By
knowing their actual requirement business can offer them products and this enhances market
performance of organization (Gainer and Padanyi, 2002).
Developing marketing strategy: After knowing taste and preferences of customers marketing
strategy is developed so that customers can be attracted towards range of products in the market.
Managing promotional tools: For effective promotion of the product range it is necessary for
Sleepwell Company to have effective promotional tools so that sales volume can be enhanced
easily.
Optimizing sales volume: Through effective marketing, promotion and advertisement it is
possible for organization to enhance sales volume and in turn it has positive impact on the brand
image also.
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1.2 Benefits and costs of marketing orientation
Marketing orientation is regarded as the type of approach which focuses on identifying
need and requirement of the target market. Further, it is quite effective for business and supports
in accomplishing desired goals and objectives of the business. Benefits of marketing orientation
to Sleepwell are:
 Responding to customers need: It is one of the major benefit of this approach where
marketing orientation allows business to easily respond towards the changing needs of
the target market and assist in enhancing their satisfaction level (Helgesen, Nesset and
Voldsund, 2009).
 Building customer value: It is another type of benefit of marketing orientation where it
becomes easy for business to build customer value by meeting with their expectations in
the market.
 Investment in market research: Cost of marketing research involves investment in
market research where large amount of funds have to be allocated by business in
determining need and requirement of target market.
So, this highlights the benefit along with cost of marketing orientation which company
has to consider for its long term survival.
TASK 2 CASE STUDY
2.1 Macro and Micro environmental factors influencing Mc Donald’s marketing decisions
Various factors are present in the market which influences the overall marketing
decisions taken by Mc Donald’s and they are as follows:
Micro
Customers: Target market of Mc Donald’s affects marketing decision of the business where
business has to develop marketing strategies keeping in view taste and preferences of its target
market.
Competition: Mc Donald’s has to take marketing decisions keeping in view its competitor
strategy so that target market can be influenced to purchase products (Tapp and Spotswood,
2013).
Macro
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Political: Government of nation has introduced various guidelines which business has to comply
with. Every marketing activity has to be developed by company keeping in view laws introduced
by regulatory authorities.
Social: This factor is linked with taste and preferences of customers on the basis of which
marketing decisions have to be taken by Mc Donald’s so that business can enhance its overall
strength in the market.
2.2 Segmentation criteria to be used for products
Mc Donald’s deals in large number of products in the market and due to these reason
adopting appropriate segmentation criteria are necessary for company. Segmentation criteria
appropriate for business is Psychographic one where customers are targeted on the basis of
lifestyle, personality and other form of attributes (Wang and Pizam, 2011). Further, this criteria
can be used in case of product like Hamburger and they can be offered on the basis of lifestyle of
customers. Through this it is possible for business enterprise to better understand personality
along with lifestyle of its target market and in turn their needs can be satisfied in efficient
manner.
2.3 Targeting strategy for selected product
The selected product is Hamburger of McDonald’s for which the most appropriate
targeting strategy is undifferentiated one where same promotional message is shared with
everyone. Further, McDonalds operate in different areas, cities, countries etc (Wilson and
Gilligan, 2012). Therefore, through this targeting strategy it is possible for enterprise to share
same promotional message with each and every individual who prefer to consume fast food.
Customers can be targeted with the help of promotional messages and this can influence
purchase decision of target market in every possible manner.
2.4 How buyer behavior affects marketing activities in different buying situations
Buyer behavior supports in knowing why consumers purchase any specific commodity
and it directly influences the marketing activities developed by Mc Donald’s. In case if
customers of the company prefer to consume Hamburger then marketing of the same has to be
done in unique manner such as highlighting its key benefits etc (Korotkov, Occhiocupo and
Simkin, 2013). Presence of effective marketing activities directly attracts customers in the
market and in turn provides them reason to purchase the products of Mc Donald’s. On the other
hand, in case if any customer prefers to purchase egg wrap of Mc Donald then in such case
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marketing is required differently where business can highlight its key attributes along with price
etc. Alteration in the marketing activities as per buying situations can provide long term benefits
to the business.
2.5 Positioning strategy for new product
Positioning is considered to be most significant part of the marketing. The selected
product is Hamburger which can be positioned on the basis of ingredients present in the product.
Further, company can highlight that product is fit for consumption and is healthy too. This
positioning strategy can act as source of attraction where business can easily retain its loyal
customers for longer period of time (Kotler and Armstrong, 2013). Apart from this, it can built
positive brand image of business in the market where overall strength to serve large number of
customers can be enhanced easily. Through this positioning strategy Mc Donald’s can
differentiate its products from those of its competitors in the market.
TASK 3: INDIVIDUAL WRITTEN REPORT
3.1 How products are developed to sustain competitive advantage
Products are developed by Tesco Plc in different manner where need and requirement of
target market is kept on the top. Further, social factors are necessarily considered in development
of products through which products are modified as per culture, religion and other type of
requirement of target market. Gaining competitive advantage is one of the main motives of every
business and Tesco is able to accomplish this aim by focusing on the areas where expectations of
the target market can be met in efficient manner (Helgesen, Nesset and Voldsund, 2009). Timely
products are modified as per customers’ trend and this directly contributes in the success of
business in the market. Therefore, in this way products are developed by Tesco in efficient
manner and it is one of the main reasons behind growth of company in the market.
3.2 How distribution is managed to provide customer convenience
Tesco operates in different type of market and offers wide variety of products. For
distributing products company has opened its stores worldwide through which they can easily
purchase the commodities as per their requirement. Apart from this, concept of online selling has
also been undertaken by business which is considered to be more convenient for target market.
Through this, Tesco well satisfies need of its target market and this directly acts as development
tool for the company. Through physical stores and online selling Tesco highlights its range of
products and it has become one of the main reason behind success of company in the market
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where operations are being carried out (Fillis, 2003). Through effective distribution channels
Tesco provides convenience to its target market and customers can be retained through this.
3.3 How prices are set to reflect organization’s objectives
Pricing plays most significant role in marketing and highlights the overall objectives
being set by business for its growth. Tesco has adopted moderate pricing policy where prices set
are neither high nor low (Gainer and Padanyi, 2002). Further, it highlights the objective set by
business which is linked with strengthening customer base and enhancing profit margin. Apart
from this, market conditions are also not in favor of business where competition level is high and
in case if Tesco sets high price then it clearly prevents firm from accomplishing its overall aims
and objectives. Apart from this, prices of the products fluctuate as per market conditions,
purchasing power of customers etc. Main objective of business is to retain its loyal customers
and this has been accomplished by setting fair prices so that customers can easily afford
products.
3.4 How promotional activity is integrated to achieve marketing objectives
Promotional activities are considered to be integral part of the marketing objectives.
Further, through effective promotion Tesco attains its marketing objectives such as enhancing
brand awareness in the market, building brand image etc (Wilson and Gilligan, 2012). Moreover,
attractive offers and other type of schemes have been introduced for products through which
company focuses on its marketing objectives and this allows to survive in the competitive market
for longer period of time. Without effective promotion it is not possible for Tesco to focus on its
key objectives and sometime it can lead to decline in overall performance of the business in the
market.
3.5 Additional elements of extended marketing mix
Additional elements of extended marketing mix on Tesco are as follows:
People: Staff members working in Tesco are highly skilled and knowledgeable. Further, they are
efficient enough in satisfying need of the target market.
Physical evidence: All the stores of Tesco are efficient enough in attracting customers where
internal along with external layout assist in satisfying need of target market (Martin., 2014)
Process: All the internal processes of Tesco are flexible through which remarkable customer
service is delivered along with complaints of target market is handled.
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TASK 4
4.1 Marketing mixes for two different segments
Customers have been segmented on the basis of age where Academic English courses is
for individuals lying under age group of 18 to 22 and MBA course is for individual who are lying
under age group of 24 and above.
Product: Academic English courses Product: MBA course
Price: The prices of Academic English course will
be moderate in case of youngsters. Further, many
universities and colleges are present who are
offering this course. Therefore, by offering this
course at moderate price it is possible to attract the
target market being set
Price: high prices will be set for this course as it is
valuable and can easily enhance knowledge level of
the individual
Place: Place for delivering this type of course will
be through college campus and through online
sources it is possible to gain information
Place: Place for imparting this degree will be
college campus itself.
Promotion: For promotion advertisement through
print media will be used
Promotion: Discount and other schemes will be
undertaken for delivering this master degree
4.2 Difference in marketing products to businesses rather than consumers
In case when college market its products to consumers then emotional buying decision
takes place where desire, price and other factors are considered. Further, B2C marketing relies
on maximizing value of transaction and brand identity is developed through image (Tapp and
Spotswood, 2013). On the other hand in business to business marketing main focus is on
maximizing value of relationship and it is relationship driven.
4.3 Why international marketing differs from domestic one
International marketing differs from domestic one in terms of market size where at global
level market is wide and at domestic level it is small (Wilson and Gilligan, 2012). Further,
challenges at international level are present in large amount such as competition, legal barriers
etc but at domestic level their influence is very less.
CONCLUSION
The entire study carried out has supported in knowing about the concept of marketing
principles. Further, macro and micro environmental factors are affecting business productivity of
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McDonald’s. Apart from this, the targeting along with segmentation criteria developed for
business are effective through which company can easily retain its customers in the market.
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