Marketing Principles and Techniques: Myprotein Analysis and Report

This report provides a comprehensive analysis of marketing principles and techniques, using Myprotein, a British online retailer of sports nutrition products, as a case study. The report begins with an introduction to marketing and its diverse activities, followed by an examination of market segmentatio...Read More

Marketing Principles &
Techniques

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Diverse activities of marketing.............................................................................................1
1.2 Marketing Segmentation.......................................................................................................2
1.3 Marketing Mix......................................................................................................................3
TASK 2............................................................................................................................................4
2.1 Aim of Research and market analysis...................................................................................4
2.2 Market research methods......................................................................................................4
2.3 Market analysis tools & techniques......................................................................................6
TASK 3............................................................................................................................................7
4.1 Describe the methods used to e-market products & services................................................7
4.2 Explain how companies manage their online image.............................................................8
TASK 4............................................................................................................................................8
3.1 Market Analysis techniques to research the target market....................................................8
3.2 Interpret the findings of market research & analysis..........................................................10
3.3 Present findings in a team...................................................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
In dynamic market, business environment play significant role that analysis external and
internal factors that helps to get growth & success for a particular product & services. Marketing
relates to an information related to the communication of the goods and services of a corporation
throughout the global market. Marketing objective is to cultivate a favourable impression of such
offers and, therefore, it is extremely important for a business to maintain the same successfully
(Abtin and Pouramiri, 2016). The presented report based on principles and practices and for the
same, My-protein has been selected which is British online retailer based organization. The
company has been established on 2004 by my family and conduct activities in sports nutrition,
products and gym clothing where consist of supplements, protein powders, snacks, high protein
foods and vitamins. The firm has sold out product of Sports nutrition which are manufacturing
with natural things that used for longer period of time. The taste of product is effective and being
cold yet the firm is facing to market efficiency.
Every organisation set own long term and short term objectives. Along with, the
company wishes to increase the market existence as well as increase profit margin at the end of
the year. In this report consist of activities or marketing, segmentation, research methods,
marketing tools & techniques. Along with also cover internal as well as external analysis where
consist of SWOT and PESTLE analysis and concentrate on E-marketing and managing online
image efficiently.
TASK 1
1.1 Diverse activities of marketing
Marketing: It define to activities which are taken by an organisation to advertise and
encourage to customer to purchase their products & services. The term of marketing consist of
advertising, selling and delivering products to consumer as well as other business entities. There
are some activities are done by advertiser on behalf of an organisation. It is a effective operation
that is bringing out to present particular products & services. There are defined some activities of
marketing that done by the organisation such as:
Market Research: It is one of the major function of marketing department in which
conduct research for overall marketing activities. This is required to collect information about
market in regard of particular product of sports nutrition and follow trends, customer interest that
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allows by retailers such as Aldi sell out those products which is demanding by customer to fill
gap between customer and company and satisfy them. To conduct proper research company
follow the research methods such as primary research and secondary research. These methods
help to collect all authentic information in sufficient period of time (Ahmed and Rahman, 2015).
Promotion: It is a most important part of marketing in which present products & services
in effective manner and attract to customer for purchase their products. In the context of
Myprotein sell out Sports Nutrition so they provide all specification in regard of goods and
services like how to use it and why would they buy. There are consisting of various
communication activities which will use for collect incentives to all stakeholders to make
products within organisation to satisfy retailers and users. All nutrition drinks of Myprotein
based on natural things and herbal ingredients. To promote their products they distributed free
sample in gym to people which helps to attract customers and increase profitability of a company
in certain period of time. The marketing promotion can make more revenues to an organisation
that can bears some cost that is to make Myprotein to be more costly in year by year.
1.2 Marketing Segmentation
The market segmentation is a term and approach that is applied by business entities in
order to recognise their target market. It is essential for every business to identify their target
market and which type of people mostly like their products. According to segmentation company
prepare effective marketing strategies and supports them in marketing efforts effectively. Such
as, the particular firm is necessary to determine different market segments that are likely to
impress by the business concern. Therefore, for Myprotein context mentioned different types of
marketing segments that are discussed below: Geographical: It is a type of marketing segment in which consist of market place that
divided as per geographical location. Various types of marketing strategies are developed
as per the firm and these are based on the customers. Such as Myprotein, they are
targeting those area where establish large number of school of UK that would be easier
for the organisation to target people easily for Sports nutritions (Berends and Halliday,
2018). Demographical: There are consisting of age, income, occupation and other demographic
elements. According to these factors, an organisation would be producing products that
could fulfil the demand of the particular segment. In respect of Myprotein, the customer
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would be sports person and gym people of the UK, with age group 16 – 60 years, with
medium level income. The purpose of select this factor that it would enables the entity to
constricting and concentrating on marketing with product of Sports nutrition as per the
requirement of customer.
 Behavioural: The particular segment is classified market in different manner on basis of
behaviour and attitude of customers. An organisation can produce products as per the
requirement of customer and fulfil demand. Such as Myprotein, in this segment consist of
individual who are habitual of drinking protein shake and prefer to take snacks with it
(Burksiene, Dvorak and Duda, 2019).
1.3 Marketing Mix
Marketing mix consist of different factors that is based on marketing environment of a
company which is significantly and crucial for market. It is defined as set of actions, tactics that
apply by company to advertise their products and services in particular market area. There are
4P's discussed in context of particular organisation like price, place, promotion and product.
Through these elements an organisation can achieve their marketing objectives effectively. There
are discussed different elements of marketing mix in context of Myprotein. Product: This component linked with the product strategy that applied by an
organisation. The company produced Sports nutrition amongst other trade goods.
Therefore, to assure about the particular strategy for product in order to retain long time
at market place. So for this firm select particular one product strategy Hence,
diversification approach applied by this firm that enables to involve in particular market
research as well as design good quality protein for youth. Price: There are covering particular pricing strategy that is applied by the business
according to structure. It is most important element that helps to define quality of product
and profitability of an organisation is mainly based on this pricing strategy. Such as
Myprotein set good quality of product Sports nutrition then according to that set effective
pricing strategy. Along with provide these products at lower and sufficient price to
customers (Ferreira, Coventry and Lenzini, 2015). Place: To target customer firm select particular are to sale out products at large number.
It consider the distribution of products is offer from its origin point of consumption. In
the context of Myprotein assure about high preference of Sports nutrition. This product
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available online as well as offline stores. It would supports to business to cover large
market area and get better results through offers.
 Promotion: In order to promote this product company analysis different types of strategy
and apply tools & techniques to increase sales of products. It is required to an
organisation is applied to promote their offering. To achieve this, an organisation can
invest into traditional and modern strategies of promotions such as Pay Per click (PPC)
advertisement and by social media.
TASK 2
2.1 Aim of Research and market analysis
Market research refers to a procedure that is adopted by organisations to appropriately
acquire an insight about the marketplace, as well as the trends within the customers that enables
them to produce effective goods and services that are in alignment with the preferences of
customers (French and Russell-Bennett, 2015). It is necessary that Myprotien appropriately
adopts this method that would be beneficial for its Sports nutrition product. There are certain
aims for market research and analysis, which are stated below: Aim for Market Research: The purpose of adopting a market research is to appropriately
determine the customers, along with the changes and trends within the market, along with
the kind of product which they wish the firm to manufacture.
 Aim for Market Analysis: Agenda for market analysis is to determine appropriate and
new prospectus for Myprotien in order to ensure enhancement, as well as growth of the
firm in context of its market share.
2.2 Market research methods
There are certain methods that a company could utilise in order to research the market
effectively. In context of Myprotien and its Sports nutrition product, certain methods are
discussed as under:
Primary Research:
This is the research type which a person carries out for the very first time, as well as for a
certain agenda. The purpose for researchers of this method is to acquire first-hand information in
order to satisfy a prominent agenda which is related to an issue with the company (Graber and et.
al., 2016). This approach must be used by the enterprise to determine information about
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customer perspective, as well as about the products, preferences and processes used by the firm.
Some of methods in this context are elaborated below: Interviews: These refer to the face-to-face conversations that is conducted by specific
individuals of the firm with certain people that allows them to gain a spontaneous
responses from these persons which limit the chances of fake responses. Moreover, this
approach could be subjected towards identifying the perceptions of individuals towards
the company and its employees (Grigsby, 2018). Questionnaires: These refer to the documents that are provided to specific individuals as
per the sample decided by the company and are effectively subjected towards acquiring
objective answers from these people about pre-decided topics. This method could be used
by the organisation to acquire feedbacks in context of the quality of product as well as
their satisfaction level.
Secondary Research:
Within this research, the information which is acquired by the researcher has already
been gained by previous researcher for some other purpose. This information is available through
different secondary resources that could be accessed by the company to fulfil its research agenda.
For Myprotien, there are two prominent secondary research methods that are explained below: Libraries: These are the entities which possess a huge variety of books and journals that
are written by authors of different fields, as well as managers of certain top organisations.
The organisation could use this source of information in order to gain information
regarding the processes which it could adopt in order to ensure high sales and better
production of Sports nutrition product.
 Internet: This is one of the most widely used sources in context of acquisition of
information recently. There are several websites and portals which allows organisations
to gain knowledge about several issues within their organisation. In this context,
Myprotien could acquire knowledge about new trends within the market, as well as better
processes that could be embedded by the company to produce the product effectively
(Haque, 2018).
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2.3 Market analysis tools & techniques
There are certain tools and techniques in relation to market analysis, which must be used
by Myprotien for their Sports nutrition product. Some of the most prominent tools and their
applications are discussed as under:
SWOT Analysis:
This framework is used by an organisation to determine internal strengths and
weaknesses within the organisation, along with external opportunities and threats (Jim Burtles
and CMLJ, 2015). In relation to Myprotien, this framework is applied below:
BASIS DESCRIPTION
Strengths  The company has wide variety of nutritional and sports products.
 Effective investment capacity is another strength of the company.
Weaknesses
 The firm has been subjected to controversies in relation to food safety.
 Ineffective marketing methods and processes
 Rigidity of the product connected with the product in order to selecting
standard marketing options.
Opportunities
 The current trends within the market is inclined towards sports,
nutrition and fitness. People become health conscious so they wants to
good drinks for the particular product where contributes for health
standard at the market place.
 Rising environmental conditions would present opportunities in
context of improving its production and distribution system.
 Digitalisation is most effective opportunity which is applying by
business to assure about the product manufacturing and creation in its
marketing.
Threats  Competition from firms like MaxiNutrition and GymShark is quite a
threat for the organisation. This have impressive market share already
because of already famous in the market in regard of different
activities.
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 Due to global recession, the firm might not be able to charge high price
for the offering. They are facing challenges at lower scale that could be
different threat in improvement of particular product.
TASK 3
4.1 Describe the methods used to e-market products & services
E-marketing defined as a procedure of planning and formulating the conception,
circulation, promotion and pricing of products as well as services in a computerized, network
environment like the system software and the world wide web (Kehinde, Adegbuyi and
Borishade, 2016). There are discussed different methods of E-marketing that applied by a
business entity in order to provide services in digital manner. In the context of Myprotein
discussed methods of E marketing such as: Blogging: It is defined as writing and publishing content in respect of particular topic
where a subject matter on an information website. This procedure known as an interactive
practices where business activities conduct by an individual and provide specification
about product on blog in context of Sports Nutrition. Social Media: It is one of the famous method which is utilised every organisation to
promote their products at large manner. For this company select different platform where
advertise about their products and services on Twitter,Facebook, Instagram and many
others. To attract customer prepare short video and play on different sites to get
preference from customer about their products. Furthermore, they could direct connect
with user and achieve all comments in positive and negative manner that link with the
expectations and requirements. Search Engine optimisation: In this procedure conduct marketing that when people
search best sports nutrition so show this products. In this regard Myprotein create traffic
on their site to increase popularity and effectively optimise website to increase the chance
of ranking compare with similar products when user search this on google and any other
sites (King, 2015).
 E-mail: It is a standard and less cost method which is part of E-Marketing. According to
this method a company could select push marketing where send E-mails to people at the
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same time in large number of groups within the market. It would enables them to design
and their Sports nutrition familiar with that targeted markets by E-mails.
E-marketing better than to traditional market because in tradition does not direct contact
with customers whereas digital marketing provides provides a higher level of involvement and
fundamental interaction. Whether it is by social media get comments direct from customers and
take suggestion in regard of modification. The target audience direct connected with different
digital marketing channels.
4.2 Explain how companies manage their online image
To set good performance and image at digital platform face struggling in the market and
its offering amongst the customers. Every organisation wants to increase and arrange their online
image in particular market area (Kubacki and et. al., 2015). There are various ways to manage
online image, explained in detail manner: Enhanced social channels: Presently, every people active on different application of
social media that impact on the image of an organisation. They freely present their views
without any restriction. Such as, British airline concentrate on showing itself sports
nutrition to about each social media portal such as Facebook, You tube, Instagram. There
is allowed a firm to connect with broader market and develop a positive point of view of
a business entity.
 Monitoring: It is another way which is applied by organisation to set up good online
image. In this method company observe different social media sites and other sites. Such
as, Sainsbury which does does not search themselves to see whether their products as
well as pictures are being perceived in effective way. It prohibit them to apply methods to
enhance their image at online platform.
As per the above discussion both methods can affect the business and it must influence
on the business due to select different methods to set good image at online sites.
TASK 4
3.1 Market Analysis techniques to research the target market
To increase scope of marketing in regard of Sports Nutrition, Myprotein must effectively
determine the external aspects to develop prominent approaches that linked with the same (Liu
and Levin, 2018). There is conducting PESTLE analysis for selected organisation such as:
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 Political: The political activities of UK is not stable due to create problem of Brexit. It
impact on the organisational strategies and become issue for the products & services.
Therefore, to face this problem require to select effective flexible strategies which are
changing according to situation and enables it to market itself to different customers
falling in the target market related with outside nations. Economical: Economic aspects of United Kingdom goes fall down because of reducing
the value of pound and increase in prices. These reflect the economic performance of a
nation and its direct influence of the organisation. Therefore, increasing unemployment,
an organisation could achieve talented peoples as well as could offers its Sports nutrition
at deducted price to increase sales of product (Malik and Khan, 2016). It would supports
to business to cover large market area and influence to focus on those customers who
have income level more than £1,000. Due to Brexit, the financial performance of the
country has decreased substantially, along with decrease in value of Pound. This has a
negative impact on the company as it could not demand higher prices from the people for
its quality products due to their decreased standard of living. Social: It is most important factor that related with the market trends and customer
interest. In present time people become health conscious and like to go gym. For this
require to take proper nutritions and company provide this in less price with more
innovation and natural ingredients nutrition that justifies the requirement of this among
the people. In the development age require to proper protein that helps to live healthy life.
Within the UK, the lifestyle of individuals, specially millennials are shifting substantially
towards fitness, which is an opportunity for the company and its Sports Nutrition product
to establish a better market share within the nation.
 Technological: This factor concerned that in present time organisations can adopt
advanced technologies such as Automation and artificial intelligence certain technologies
which could help the company in producing high quality products without any scope of
error. Hence, through utilising advanced technology company promote their products and
modern marketing tools can help to increase information to more individual to target
group due to having their familiarity with the utilising of technological devices (Xia,
Deshpande and Bonates, 2016).
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3.2 Interpret the findings of market research & analysis
It is essential by Myprotein to determine all the findings of the questionnaire in particular
way where all the approaches of market in their Sports Nutrition are increased. There are defined
interpretation and related recommendations.
QUESTIONNAIRE
1) Are you aware about the company
Myprotein?
Frequency
YES 4
NO 2
MAYBE 4
Interpretation: There are taking 10 respondents to answer different questions in regard
of company and related products. From 10 respondents 4 candidates aware about the firm and 4
are not sure about that. Therefore, 2 people are confusing about the firm so it is required to
increase its presence at the market to become friendly with an organisation.
2) Have you ever tasted the Sports Frequency
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Nutrition provided by the company?
YES 3
NO 5
MAYBE 2
Interpretation: As per the above chart it has been interpreted that 5 people say no
because of do not aware about the Sports Nutrition product that sell out by the Myprotein. From
10 respondents, 3 are familiar with the product. Hence, majority of individuals have not
knowledge about this product that could be interpreted as a strong weakness in the particular
marketing strategies.
3) Do you prefer more innovative and
healthy Nutrition available to you in
the city?
Frequency
YES 8
NO 2
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Interpretation: From the above chart it has been analysed that 8 peoples say yes about
the innovative drinks are available in the market. They know that company offer healthy drinks
in the city. Therefore, it is analysed that majority of candidate favourable in regard of particular
product.
4) How best do you think the company
should approach its targeted
customers?
Frequency
SOCIAL MEDIA 5
NEWSPAPERS 2
E-MAIL 3
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Interpretation: There are 5 individuals who seek social media as a platform for business
to approach the. Furthermore, from 10 respondents 3 people seek from the Emails due to active
on it and spare 2 use newspapers. Hence, it could be determined that people seek social media as
the prime tool for advertising.
At the end it is concluded that the firm is in a serious requirement to increase its image at
online level as well as market. To become familiar with organisation and its Sports Nutrition
within the market place.
3.3 Present findings in a team
It is understanding that an organisation like Myprotein to perform its findings to
marketing team in which would conduct work and select best approach of communication about
products of a business entity. Hence, there are defining some findings as well as
recommendations for marketing team:
 An organisation must aware to showing itself at the market place where acquire success
through products and services.
 To modify marketing strategies, a business entity must increase presence on online
activity and must work towards advertising its offering online approaches such as SEO
and social media.
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 Myprotein must concentrate on the production activities and use good quality items that
supports to business and circulating the same within nation due to increase their
preferences amongst customers.
 An organisation must aware for their products & services and increase presence on
online platform due to huge uses of social media sites such as Facebook, Instagram etc.
CONCLUSION
As per the above discussion it is concluded that marketing principles as well as
techniques are essential for the business entity in which a market offer a better and effective
products at the market place. Furthermore, it is highly require to understand all the activities and
various market segmentation where they are increasing target audience. Moreover, a business
must select particular aspects of marketing mix for development of strategy as per the offer at
market. Additionally, market research method use to collect information and through marketing
tools & techniques collect information about market and situation of company. At the end
importance of E-marketing and arrange their online presence to remain ahead in the game and
market themselves in a better manner.
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