Marketing Principles: Analysis of Marketing Processes and Strategies

This report provides a comprehensive analysis of marketing principles, encompassing various elements of the marketing process, including market segmentation, targeting, and positioning. It evaluates the benefits and costs of a marketing orientation for businesses. The report examines macro and micro environmental factors influencing marketing decisions, proposes segmentation criteria, and explores targeting strategies for different markets, specifically focusing on SUV cars. Furthermore, it demonstrates how buyer behavior affects marketing activities and suggests new positioning approaches. The report also delves into product development, distribution, pricing, and promotional activities, with an extended marketing mix analysis. Finally, the report includes a case study of Vodafone UK, planning marketing mixes for different segments, illustrating differences in marketing products and services to businesses versus consumers, and highlighting the differences between international and domestic marketing strategies.

MARKETING
PRINCIPLES

Contents
TASK 1............................................................................................................................................3
Explain the various elements of the marketing process...............................................................3
Evaluate the benefits and costs of a marketing orientation for a selected organization..............4
TASK 2............................................................................................................................................5
2.2 Show macro and micro environmental factors which influence marketing decisions...........5
2.2 Propose segmentation criteria to be used for products in different markets..........................6
2.3 Choose a targeting strategy for a selected product/service....................................................6
2.4 Demonstrate how buyer behavior affects marketing activities in different buying situations
......................................................................................................................................................7
2.5 Propose new positioning for as elected product/service........................................................8
TASK 3............................................................................................................................................8
3.1 Explaining how products are developed to sustain competitive advantage...........................8
3.2 Explaining how distribution is arranged to provide customer convenience..........................9
3.3 Explaining how prices are set to reflect an organization’s objectives and market conditions
......................................................................................................................................................9
3.4 Illustrating how promotional activity is integrated to achieve marketing objectives..........10
3.5 Analyzing the additional elements of the extended marketing mix.....................................10
TASK 4..........................................................................................................................................11
4.1 Plan marketing mixes for two different segments in consumer markets for Vodafone UK 11
4.2 Illustrate differences in marketing products and services to businesses rather than
consumers for Vodafone UK. Use examples to illustrate your points.......................................12
4.3 Show how and why international marketing differs from domestic marketing in the case of
Vodafone UK.............................................................................................................................12
REFERENCES..............................................................................................................................13
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TASK 1
Explain the various elements of the marketing process
Business activities which are linked to marketing are retailing, broadcasting as well as
delivery of products to the overall public. It is significant for the organizations to understand the
requirements and demands of the customers and so business firms can contribute services and
products according to the client. Besides, marketing process is concerned with four basic steps
(Westwood, 2011).
The fundamental purpose of this step is prepared with the motivation driving making a
brand value among the customers.
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In selling process, the surroundings is scanned first as helps the organizations to identify
the client expectation about the product. To consider customer expectation, varieties of research
is coordinated by the business firms resulting to filtering of markets. So the organizations have to
segment their markets.
The second step is market segmentation. It is a technique where huge companies are
isolated into little units as showed by similar qualities. Segmentation is of four types such as
psycho graphic, behaviorist, demographic as well as geographic. In this measure afterwards
portioning the market that particular section is chosen which business firms need to reference
point.
The third phase is the target market. The target market is carried out by implementing
various strategies and marketing plans (Westwood, 2011). The target market is a part of the
market segment. Both are dependable to each other. In concentrating on every section are
examined from pre-chosen case then reported to the organizational limit that portion is
designated which offer an advantage to business firms and also provide satisfaction to the
customer.
Based on the features, positioning strategy of the product is chosen, this approach fixed
plant structure image in customer's knowledge. The scheme which is chosen it should regard
destinations and market condition of the organization (Bleicher, 2014).
Evaluate the benefits and costs of a marketing orientation for a selected organization
Market placement is concerned with the business reacts as indicated by the needs of the
customer instead than what they have to do customers. In a extremely competitor y market, the
car organizations need to maintain its position so that they can provide the best choice of
products and work to the customers. Marketing orientation consolidates product, production,
offering, selling and social commitment (Bleicher, 2014). In the car business, after sales service
is very significant to clients. The business firms dependably assess the obtaining behavior of
customers to keep up the standard of product and services. Many categories of cost are gained
using car companies to keep up the level of plant structure and service. The automobile
industries are driving many sorts of marketing investigation remembering the actual objective to
recognize the conformity in the necessities and expectation of customers (Ferrell and Hartline,
2005). Activities and marketing deals are extended using Car business firms since they are
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bearing business change cost like ordering online and so on. Moreover, the car companies get
many points of interest from marketplace placement if they present brand-new channel and work
then there have less accidental of product decreasing, if available market asks about has been
driven by business firms. In market location, they are offering product reported to customer
require, so there have possibility that product will endure mortal and make higher products
(Ferrell and Hartline, 2005).
TASK 2
2.2 Show macro and micro environmental factors which influence marketing decisions
The business decisions and operations of a particular organization are affected by many
micro and macro environmental factors.
Macro-Environment: The macro environmental component are legal, social, cultural,
technological, political and economic (Drejer, 2014). Only economic, social and cultural factors
highly impact a business because these factors are non-controllable. The particular company
needs to consider New Year and Christmas as their peak timing for marketing for generating
high revenue as well as attracting more new customers. During the season, various marketing
strategies are adopted by the organizations to know the difference between non-profitable and
profitable years (Asad, 2015). The other factors which affect an organization are growing rate
and magnitude of the people in many cities, nations, ethnic mix, age distribution, household's
patterns, educational level, environmental movements and symptomatic.
Micro-Environment: On the other hand, the micro environmental factors which impacts
the operation of business firm are suppliers, employees, stakeholders, customers, substitute
products and other internal factors in the workplace. Besides that, there are many providers of
organizations who are responsible for transportation of goods to customers (Raskovich, 2013).
Those works are looked after by the supply chain management of a company. Apart from it, the
plane of contest also effect the scheme department of the endeavor. A large number of
competitors means making more right strategies and implementing them for gaining competitive
advantage.
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2.2 Propose segmentation criteria to be used for products in different markets
The company must process a market segmentation according to the requirements and
demands of the customers. Therefore, based on the requirements and needs, the purchasing
power and the buying behavior of the clients of the organization classifies the customers
(Plesničar and Zaletel-Kragelj, 2015) . The process is called segmentation. Places and peoples
differ according to the cultures, styles and characteristics. So, the company must do market
segmentation by maintaining these factors. The company should manage this segmentation
process properly to attain the target market effectively. On the basis of demands of different
types of people, the company should provide a large number of quality product. For example, the
economic stability of a city is more than a village. The company must set prices according to the
areas they have segmented. With the assist of partition, the customized who have homogeneous
needs are treated equally. The main thing is that the organization needs to maintain the four
elements of market segmentation like geographic, demographic, psychographic and behaviorists
(Dahlman, Parkvall and Sköld, 2011) .
2.3 Choose a targeting strategy for a selected product/service
Suppose the selected product is SUV cars. There are mainly three type of target market
and strategies; Differentiated, concentrated and undifferentiated market strategy. SUV cars focus
on single and mass market rather than focusing on different segment. Concentrated focuses on
niche market and advertise its products into specific areas. Differentiated market strategy is very
important and used by SUV cars. In this kind of technique company focusing on different market
and use various promotional ways to market its product. As SUV car is having number of
products and huge market share. Promotional message for different income level persons are
differed from others. It conveyed with low and middle income level person that food are
available in affordable prices. It offers quality products with unique test also a promotional
strategy for those who concentrate on products more rather than price. It has strategy to sell
products that it gives details about ingredients for healthy foods so that people can attract
towards the brand.
Initially, the organization must keep in mind about the car specifications. If the vehicle is
made to high specifications, then the company must sell to places where people are rich
(Balasubramanian, 2014). Apart from it, if the standard of the SUV is standard, the organization
can sell it to various locations in the world. A market specialty technique consider a firm which
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covert one market section exceptionally appealing, and henceforth that portion an mixture of the
different products. It is on a regular basis finished by a firm to top off a section, and thus cheer
any rival from move in. The management should focus on the targeting strategy to gain their
target market properly. As their products are of standard level, the organization attracts high
standard customers at first. Then they aim to provide some productions of some less range to
other customers. One past centering on a methodology which is increasing additionally taking
after is the idea of private selling. This procedure depends on utilizing past client buy
information to offer particular products to individualist acquisition given their previous
inclinations. It can mainly target customer needs, be that as it may, it additionally requires a lot
of message and compelling information administration which many organizations battle with.
However, a few organizations had several accomplishment in execution such a technique as they
can assemble and superintend a lot of consistent customer substance utilizing steadfastness card
plans (Wise, 2014).
2.4 Demonstrate how buyer behavior affects marketing activities in different buying situations
It 's hard for the organizations to remain in the competitive market and it is not simple as
well to understand the intelligent, behavior and acquisition decisions of the customers every time
(Jain, 2015). Moreover, it is essential for the companies to examination the form of purchasing
behavior of the customers so that they can develop marketing strategies and policies along with
the products. Consequently, the research about the purchasing behavior will help the company to
sustain in the high competitor y marketplace. The purchasing behavior of customers is influenced
by many social and personal factors. Initially, the personal factors which impact the purchase
decision of customers are a lifestyle, current trends, old trends, income and age. Therefore,
before doing any marketing, the company must think about the customers (Jain, 2015). On the
other hand, social factors such as cultural values, customs, tradition and recommendations from
family and friends impact the buying decisions of the customers. For example, wealthy people
will have the tendency to buy more than one car for their business and personal purposes
whereas regular people may or may not buy cars, and that depends on their level of demands.
The buying behavior of the customers depends on four types of buying behavior such as
complex buying behavior, variety seeking behavior, dissonance buying behavior as well as
habitat buying behavior. Some people belief that SUV is more comfortable and safety than
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regular cars. So they buy it. Aside from, market positioning also has an effect on the buying
behavior of customers.
2.5 Propose new positioning for as elected product/service
A strategy to position services and products in the international or domestic market is
popularly known as market positioning. Besides that, market positioning clarifies the how
products and brand will be seen by individuals (Shapiro, 2013). The organization attempts to
influence customers about the products or the brand in the competitive market. Their main aim is
to earn the position in the mind of consumers for occupying a unique, clear and advantageous
place in the market. For instance, the car companies need to position its sustainability of cars in
the market. So, the company needs to place them but first, they have to remove the benefit gave
by this products, for example, the car company is swing away the new car models with varieties
of specifications and price tags. So, the company must point this scope in individual’s mind they
demand to take after different process. For experts, they can advance their garments on various
societal locales and organization sites, because normally they don't have room schedule-wise to
go buying, so they are utilizing internet advertising for purchasing.
TASK 3
3.1 Explaining how products are developed to sustain competitive advantage
Market is very crucial and challenging, to sustain in such environment is very tough.
SUV cars uses various kinds of strategies which help to make in sustaining organization.
Cost leadership: SUV cars use the cost leadership style by which firm enhance their sale
and sustain in the competitive market. Firm provide low and affordable prices to their customers
while purchasing the car. By using this, it will attract large number of customers towards their
brand. All theses process help to increase their profitability and competitiveness in the market.
Product differentiation: SUV cars manufacturing company offers various kinds of
models so that it can be affordable by different income group persons. It has large number of
innovation features car's model by which data base of customers will be increased. In order to
this, SUV car manufacture increases their sales by using this technique effectively.
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3.2 Explaining how distribution is arranged to provide customer convenience
In marketing activities, distribution is significant to attract the convenience of clients.
Therefore, the banking systems of distributing services and marketing campaign can show the
essential ability for the company (Richter, 2013). Additionally, distribution is the group of place,
and so the banking firms should establish an accurate distribution method. Consequently, the
customers find easy ways to access their bank accounts. Distribution system of banking sector is
one of the important facility which is provided to the consumers. When the customers of bank
especially in need of money, the bank should provide the distribution process to them. The
customers save their money for the future prospect, so, when they are in need, the bank should
provide them this distribution service quickly. Moreover, the statistical distribution scheme of a
company can be both its failing and capability. The banking establishment in current situations
make sure that their arrangement transmission should be stable (Wahyudi, 2013).
The high distribution channel helps a bank to distribute money and services whenever the
customer needs in a time of emergency or any situation. Also, the banking company can
implement three types of distribution strategy such as exclusive distribution, selective
distribution as well as intensive distribution. The bank also provides facilities like online
shopping with the use of credit and debit cards. The bank sends credit/debit cards to customer’s
home after the submission of application regarding credit/debit cards to the bank. These facilities
are significant for the sustainability of the bank towards customers.
3.3 Explaining how prices are set to reflect an organization’s objectives and market conditions
Today, most of the organizations identify the fallacy of cost-based monetary value and its
harmful effect on the profit. The amount of money that customers of a particular organization are
willing to spend on unique service and product can be defined as price. Moreover, it is the most
vital components of the marketing mix (Choi and Kim, 2015). Besides that, they comprehend the
need for pricing to reflect market conditions. Consequently, some banking companies have
considered pricing power away from the manager who deals with the financial matters and given
it to product managers. The valuation scheme which is followed by particular structure is cost-
based pricing, value rating, competitive rating as well as an anti competitive pricing strategy
(Choi and Kim, 2015). Moreover, the organizations should select competitive rating strategies
for its new products so that they can sustain the function of their business. With the help of this
scheme, the companies keep up energetic point in market and adversary contenders. To stay
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forceful in the market, this framework is planning the association. In different territories, as
showed by the compensation level of the customer's companies have tailored its expenses. As to
give an estimation of things to its clients and accomplish the little lived sales they focusing on
regard based assessing to a improved position. Promote which is esteem delicate or to pull a
specific section they require after the negligible exertion determining approach.
3.4 Illustrating how promotional activity is integrated to achieve marketing objectives
To finish advancing end composed strategies are needed by associations. Promotional
mix is a bit of this strategy. The subject matter scheme focusing on plan of action where to
prompt about its things to buyers business can use offer information to purchasers. The
promotion strategy is joining blend of cost and place. Encouragement strategies which should be
utilized by banks are publicity, sales promotion and personal publicity. They should promote
about their facilities which are provided by them. If they promote their services efficiently, the
customers can get attracted to those facilities.
Then they can easily achieve their marketing strategies effectively. Promotional activity
is the main feature of an organization to promote their business easily. The organization should
focus on this perspective to attain a perfect place in the competitive market. In banking sectors,
advance its thing tell about the cost and the zone where this thing can find. Personal marketing
framework is coordination of promotion and esteem technique because in this salespeople is
endeavoring to offer their job on esteem introduce. Sales promotion structure is blended of
significant places, price and products. All these strategies are coordinating to achieve the
objective of banks.
3.5 Analyzing the additional elements of the extended marketing mix
The other items of the drawn-out selling mix are a process, people and physical
evidence. Banks have different jobs assigned to different employees. In a bank organization,
workers are the contact staff with the client. Consequently, a representative expect a captious
part in the boosting function of an direction organization. For example to understand its potential
in bank promoting. Information Workers, Employees, Management and different Consumers
regularly increase the value of the aggregate item or administration advertising. It is the workers
of a bank which speak to the association to its clients (Wahyudi, 2013). The fundamental target
of inner promoting is to create inspired and cognizant client workers. The beginning stage in
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internal marketing is that the workers are the primary domestic market for the association. An
administration organization can be just comparable to its kin. An administration is an execution,
and it is typically hard to isolate the implementation from the general population.
All the main activities of bank follow their guidelines. These events are known as
processes. In banking operations, there has to be obedience to certain principles and rules.
Besides that, the activities have been isolated into various departments. On the other hand,
physical evidence is the material part of a banking service. Physical evidence such as paperwork,
furnishing, business cards, brochures and so on are essential documents of a banking company.
The physical evidence also includes punch lines, signage, reports and dress codes of employees
which help in maintaining the uniqueness of the bank.
TASK 4
4.1 Plan marketing mixes for two different segments in consumer markets for Vodafone UK
With the aid of suitable marketing mix, the companies pine for targets and goals that can
be refined. Marketing mix consists of price, product, promotion as well as place. With a
particular ultimate objective to increment most contemptible market share, Vodafone UK divided
two various section of the market, and they are:
Segmentation by zone: If they section the market according to the range then they
should monitor selling mix scheme consequently. For example, Vodafone UK can boosts their
services in urban cities and zones, for instance, South Africa, Korea (Srivastava, 2016). By then
it is no usage since people of there are not using those sorts of services. So it is basic to use right
marketing mix at the ideal place.
Segmentation by Age and Gender: According to era and gender, Vodafone segments its
customers. They are working on the plant structure as per the age of the part. Based on age and
gender, the company is providing all types of data plans in 3G and 4G services to both males and
females of United Kingdom. At using perfect point right plant part through with right promotion
and the fair price, they can offer the products such as Vodafone androids. For example: in case
they are progressing in youth then they should progress through a major name since youth takes
after massive name style. They should progress through mobiles and tablets.
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