Marketing Principles and Techniques for Chocoflair Bakery

This report provides a comprehensive overview of marketing principles and techniques, focusing on their application to a real-world scenario involving a bakery shop named Chocoflair. The report delves into key marketing concepts such as the marketing mix (product, price, place, promotion), market segmentation (geographic, demographic, psychographic, and behavioral), and the importance of understanding customer needs and preferences. It explores market analysis tools like PEST analysis and marketing research methods, including primary and secondary research. Furthermore, the report examines the role of e-marketing, including email marketing, social media, and paid advertising, and discusses strategies for managing a company's online image. The report analyzes how Chocoflair can utilize these techniques to expand its business, increase market share, and enhance profitability. The report also highlights the importance of research in identifying market opportunities and adapting to changing customer demands. Finally, the report presents a discussion on the application of marketing analysis techniques such as PESTLE and SWOT analysis.

Marketing Principle and
Techniques

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1: Concept of marketing...........................................................................................................1
1.2: Market segmentation............................................................................................................2
1.3: Marketing Mix.....................................................................................................................2
TASK 2............................................................................................................................................3
2.1: Aims of research and market analysis..................................................................................3
2.2: Marketing research method..................................................................................................4
2.3: Market analysis tools and techniques...................................................................................5
TASK 3............................................................................................................................................5
4.1: Method used for E-market product and services.................................................................5
4.2: Ways companies used to manage their online image..........................................................6
TASK 4............................................................................................................................................6
3.1: Use of marketing analysis techniques to research...............................................................6
3.2: Interpreting of finding..........................................................................................................6
3.3: Presentation in front of marketing team...............................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is an essential need of every business organisation irrespective of size whether
small, medium or large in order to expand business and capture large market share. The project
includes marketing aspects which includes marketing mix, marketing analysis tools and
techniques etc. Role of E-marketing in growth and success of business are also covered under
this report. The present assignment report is based on Chocoflair bakery shop which is just
started 6 months before. All given aspects in report are discussed with the context of such bakery
shop (Bishop, Fody and Schoeff, 2013).
TASK 1
1.1: Concept of marketing
At present times, marketing is an essential need for every organisation which drives them
to achieve success within shorter period of time. As in the given case, Bakery shop which is
continuing its business for last 6 months are finding difficulties in achieving growth due to lack
of knowledge of marketing which is essential to capture large market share. Due to offering
multiple products such chocolates, cold-drinks, cakes etc. it becomes easy to market as especially
young generation are easily attracted towards such bakery products.
Definition: Marketing refers to an activity in which business can promote its products
and services with an objective of capturing large market share. There are different marketing
techniques and tools such as advertising through pamphlets, newspapers, social media etc. which
can help in spreading information about availability of bakery products along with their prices
due to which the targeted customers can easily attracted towards them (Deaconu and Buiga,
2010). It includes various aspects which are given as below:
Defining and managing their brand: It includes identification of resources the business
have at present and accordingly manage and utilising them in marketing their brand so as to
provide knowledge to customers about their products and services. It can be done through
conducting campaigns, pamphlets etc.
Producing internal communication: It is must required for workers working in such
bakery shop to understand the main aim and objectives of business so as to motivate them to give
more efforts in reaching business to large scale.
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Planning activity: The owner of bakery shop is held liable to make an effective
marketing plans and strategies to expand their business in market so as to capture large market
share and generate huge revenues.
Research activity: Conducting research is an essential need to make business more
successful as it help in identifying the needs and preferences of targeted customers so as to fulfil
them as quickly as possible. For example, if chocolate pastries are more in demand then it will
directing the bakery business to produce such demand goods more (Georgiou and Jack, 2011).
1.2: Market segmentation
It is a process of dividing market into different segment to identify the needs and
preferences of respective segment which make easy for business to fulfil them according to their
requirements.
Psycho-graphic segmentation: Such type of segmentation is based on lifestyle, culture of
an individual which need to be considered by company in order to fulfil their needs and
requirements. Market segmentation is categorised into four parts which are briefly described as
below:
Geographic segmentation: Under this, the market is segmented on the basis of locations
or geographical area where the business can get more crowd. For example, Chocoflair Bakery is
located at London market of UK where large amount of population are gathered which may
increases sales figure of Chocoflair bakery shop.
Behavioural segmentation: In this market segmentation, the population are divided on
the basis of their behaviour, consumption and decision making pattern. For example, Kids and
young generation are the one who preferred to buy bakery products thus their needs and
preferences are identified first for the purpose of fulfilling them.
Demographic segmentation: Under this, market is segmented on the basis of variables
which includes age, income, gender, religion etc. For example, mostly kids are preferring to buy
bakery products thus are targeted first (Gordon, 2012).
1.3: Marketing Mix
Marketing mix is combination of several factors which may affects and influences the
interest and buying behaviour of customers to buy products and services of Chocoflair bakery
shop. It consists of 4P's which are briefly described as below:
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Product: Chocoflair bakery business offered multiple number of bakery products which
includes chocolates, cakes and pastries, cold-drinks, snacks etc. which makes easy to survive and
achieve growth in market due to having large number of customers who preferred to buy such
products.
Price: It refers to the amount value which is charged on the products and services offered
by Chocoflair bakery shop. Pricing factors largely affects the buying behaviour of customers thus
need to adopt an effective pricing strategies after analysing their rival's strategies. For example,
the prices of chocolate flavour cake is different from normal flavour cake.
Place: Chocoflair bakery shop is situated in London market for last 6 months with a hope
of expansion of business to a large scale. Thus, producing quality products at an affordable
prices and market them through using different marketing tools and techniques the chances of
achieving expansion of business will be more (Polman and Atwater, 2012).
Promotion: It is essential Chocoflair Bakery Shop to spread information about the
products and services offered by them in market through using different marketing tools and
techniques such as advertisement through pamphlets, hoardings, newspapers etc. which can
easily grab an attention of targeted customers towards the location and products offered by them.
TASK 2
2.1: Aims of research and market analysis
The main aim of research is to identifying the the location of targeted customers along
with their needs and preferences so as to fulfil them in order to attain their loyalty. For this, there
is need to hire researcher who conduct research for Chocoflair Bakery shop and provide them
relevant and accurate information about the taste and preferences, buying behaviour, product
packaging etc. due to which further actions will be implemented to improve the deviations if any.
Market size: It can be evaluated after determining the current sales and desired sales in
order to expand business on large scale. There are number of information sources determining
the market structure which includes government data, trade associations, customer surveys,
financial information from rivals etc.
Market growth rate: The market can be evaluated through forecasting which help them
in find out the products and services whose demands goes high in future. Such forecasting is
done on the basis of historical data into future. At present times, Chocoflair Bakery business are
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not successfully run thus required for management to forecast the market needs so as to meet
them more effectively.
Market profitability: An enterprise having different nature will have different
profitability level. Therefore, it is required for business to understand their profitability level
through finding out the struggle to make money in market. It can be possible through using five
forces model which defines the forces affecting their business operation either in negative or
positive manner.
2.2: Marketing research method
Research is more useful in order to identify the changing needs and preferences of
customers so that it becomes easy to make profitable decisions for the growth of business. To
conduct research, there are various methods of collection of data which can be adopted by
researcher on the basis of situations and needs.
Types of market research:
Primary research: Under this research, the researcher focuses on collecting first hand
information which were not used earlier by any party. Such information can be collected through
various sources such as survey in which questions has been asked to the targeted customers
through giving them questionnaire containing all relevant questions regarding products and
services offered by Chocoflair Bakery. Therefore, collected information are more reliable and
accurate due to which it becomes easy for owner of business to make an effective decision and
plans for business growth (Reynolds, 2013).
Secondary research: Under this research, the researcher focuses on collecting second
hand information which were previously used by other companies. Such method can be adopted
on the basis of time and funds the business have at current time. Required information can be
collected through various sources such as books, journals, magazines etc. which gives an idea to
business about current market trends. Hence, such information are not reliable and accurate due
to which the chances of formulating an effective decisions and plans will be very low.
Therefore, adoption of primary research by Chocoflair Bakery will brings more profitable
outcomes in reliable and accurate form as compared to secondary research.
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2.3: Market analysis tools and techniques
PEST Analysis is an appropriate tool which help business to analyse market in an
effective and efficient manner. Such tool consists of political, economical, social, technological
which are further described as under:
Political factors: It is such a factors which includes taxation and political instability
which may affects the business operation of an organisation. As Chocoflair Bakery is small-sized
company which is started 6 months before due to which such factors are not much affected their
business.
Economical factors: It includes factors related with economic stability of country. As
Chocoflair Bakery is operated its business in London Market, UK whose economy are growing
rapidly. Thus, the income of people are also increases which makes huge impact on the sales
figure and revenue of bakery shop (Vargas-Hernández, 2012).
Social factors: It includes such factors related with behaviour of people living in society.
Nowadays, the people are more conscious about their health due to which they preferred less to
buy bakery products. Children are the one who help in maintaining their sales figure at all time.
Technological: It includes such factors related with technological advancement used in
performing different activities of business. As due to small in sized, Chocoflair Bakery have
limited funds due to which low cost marketing tools has been adopted by them such as
advertisement on Newspapers, Pamphlets, Hoardings etc.
TASK 3
4.1: Method used for E-market product and services
E-marketing consist of different types which is more useful for business to market their
products and services in very influencing way. Such are includes:
E-mail marketing: It is considered as an effective tool in which the mail has been sent to
the mail-ids of targeted customers so as to influence their interest and behaviour of customers.
Informing them about discounts and coupons etc. can easily attract customers.
Social media: It is cost effective tool of e-marketing which gives platform to business to
interact with their targeted customers within less time period. Thus, can be better option for
Chocoflair Bakery to adopt.
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Paid advertising: Such method are expensive to adopt as the promotion of goods and
services are done through paid advertisement which are appear on the search engines of google
thus difficult for Chocoflair Bakery to adopt.
4.2: Ways companies used to manage their online image
There are various ways through which company can use to manage online image:
 Own the initial page of search engine outcomes.
 Draw the image before exhibition
 Do not forget the excess.
 Ask for help in case any need.
 Review of sites.
TASK 4
3.1: Use of marketing analysis techniques to research
Examination of targeted market help company to develop better communication planning
due to which it becomes easy for them to identify their needs and requirements. There are two
most effective marketing analysis techniques which are PESTLE and SWOT analysis which help
them in finding out the current market trends and their own capabilities to cope up with such
market trends in an effective and efficient manner (Market Research, 2018).
3.2: Interpreting of finding
It has been observed from the research that Bakery business become more successful in
market for proper plaining and strategies are formulated on the basis of information collected
through research. As nowadays every one prefer to consume bakery products in the different
occasion thus the demand of bakery products never falls in whole year. For example, during
birthday the cakes are more in demand which increases their sales and revenues as well.
3.3: Presentation in front of marketing team
As from the information collected from research, it has been observed and found that the
company should focus to improve at their initial stages in order to operate business more
successful. Formulation of plans and strategies related with marketing help company in reaching
to their targeted customers which directly makes positive impact on their sales figure and
revenue of company.
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CONCLUSION
It has been concluded from the above project report that marketing is essential need of
every organisation whether small, medium or large which drives them to achieve growth and
success in competitive market. There are various marketing techniques such as E marketing and
research methods which are more helpful in fulfilling the market needs in an effective and
efficient manner.
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REFERENCES
Books and Journals
Bishop, M. L., Fody, E. P. and Schoeff, L. E. eds., 2013. Clinical chemistry: principles,
techniques, and correlations. Lippincott Williams & Wilkins.
Deaconu, A. and Buiga, A., 2010. Analysis of the convergence degree between the accounting
and the valuation standards concerning fair value. Journal of Property Investment &
Finance,28(5), pp.365-384.
Georgiou, O. and Jack, L., 2011. In pursuit of legitimacy: A history behind fair value
accounting.The British Accounting Review,43(4), pp.311-323.
Gordon, R., 2012. Re-thinking and re-tooling the social marketing mix. Australasian Marketing
Journal (AMJ). 20(2). pp.122-126.
Polman, A. and Atwater, H.A., 2012. Photonic design principles for ultrahigh-efficiency
photovoltaics.Nature materials,11(3), p.174.
Reynolds, G., 2013. Presentation zen design: Simple design principles and techniques to
enhance your presentations. New Riders.
Vargas-Hernández, J.G., 2012. Background of the Degree in Public Accounting.Accounting &
Financial History Research Journal, (3).
Online
Market Research, 2018.[Online]. Available through:
<https://www.shopify.com/encyclopedia/market-research>.
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