Marketing Principles: Brand Analysis, Target Market and New Product

This report provides an analysis of marketing principles, focusing on brand value, target market identification, and market expansion strategies. It utilizes methodologies based on secondary data, incorporating both qualitative and quantitative research. Key models such as Kapferer’s Brand Identity Prism, STP analysis (Segmentation, Targeting, Positioning), PEST analysis (Political, Economical, Social, Technological), and Ansoff Matrix are applied to assess market opportunities and competitive forces. The report also explores brand extension options, product packaging, and competitor analysis using Porter's Five Forces. Ultimately, the study concludes that STP and PEST analyses are crucial for understanding market dynamics and the external business environment, offering insights into customer perception and potential impacts on business growth. Desklib provides access to similar solved assignments for students.

Principles of Marketing

Table of Contents
 INTRODUCTION
 Methodology
 Existing brand and brand value
 Description of target market.
 Analysis of new market including trends.
 An explanation of new product.
 Competitor’s analysis
 CONCLUSION
 REFERENCES

INTRODUCTION
 It is essential for every business to analyse their growth factors
and work harder to achieve them appropriately.
 There are various kinds of marketing model which can be used by
a company to analyse their position in the market and make
strategies to mitigate negative impacts and accelerate positive
impacts for their business.

Methodology
 The following report is based on secondary data because it is
using marketing model to help company to analyse growth
opportunities for them by analysing their existing marketing
conditions.
 It is also qualitative as well as quantitative research

Existing brand and brand
values
 Brand- Brand in one of the most essential asset for any company
which is used for company recognition in market.
 Brand extension- This is the concept where companies make
strategies for their growth by introducing new products by using same
brand name.
 Kapferer’s Brand Identity Prism- This is the model which help the
companies to establish and enhance strong brand identity in market
which further help to reflect their core values

Description of the target market
 STP analysis-
 Segmentation- In context of Dove, they segmented their market for the age group of 16-24,
24-32, 32-40, and 40 and above. They also segmented their market for male and female of
middle and high income.
 Targeting- In context of Dove, they targeted mainly female with age group of 18-35. they also
target those customers who are having high purchasing power and become loyal customers.
 Positioning- In context of Dove, they are promoting their products through advertisements,
social media and many others which help them to capture larger part of globe.

Analysis of the New Market, Including
Trends
 PEST analysis-
 Political factors- It is essential for Dove to expand in those countries
where the government have good stability level and they promote trading
activities well.
 Economical factors- It is also essential for the Dove Company to expand
their business in those nations which are having good infrastructure
condition or which are going to develop their infrastructure well

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 Ansoff grid-
 Market penetration- This is the growth strategy which include to
expand sales by offering existing product in existing market.
 Market development- This is the growth strategy which consist of
offering existing product in new market.
 Product development- This is the growth strategy which consist of
developing new product or new product line in existing market.

An Explanation of the New Product
 Tauber’s brand extension options- This is the option where
company try to focus on the company's expansion by
introducing new product in the market.
 Product packaging- Packaging of product plays an important role in
brand recognition.
 Brand name- It is essential for the product that they will
known by their brand name.

Competitor's analysis
 Porter five forces- This is the model which is used to analyse
competitors condition within the market.
 Threat of new entrants- This element will help to analyse
what threat a company get when new competitors enter the
market.
 Bargaining power of buyers- It is essential for dove to
maintain good relationship with their suppliers

CONCLUSION
 It is concluded that STP model is used to analyse market appropriately and how
customers treat their brand and products in the market. PEST analysis is used to identify
external business environment of a company and help the company to identify their
positive and negative impacts upon business.

REFERENCES
 Akbar, M.B., French, J. and Lawson, A., 2020. Use of social marketing principles in sexual health: An
exploratory review. Social Business.
 Cannon, J.P., Lohtia, R. and Paulich, B.J., 2021. Blended Learning in Principles of Marketing: The
Effects of Student Differences on Student Performance. Journal of Marketing Education,
p.02734753211058357.
 Córdova, A.V.M. and Gómez, N.M.D.C.F., 2020. Principios de marketing y competitividad como
estrategias claves para el desarrollo de las MIPYMES en la provincia de El Oro Principles of marketing
and competitiveness as key strategies for the development of MSMEs in the province of El Oro.