Unit 3: Introduction to Marketing - Marketing Strategies Analysis

This report, focusing on Unit 3: Introduction to Marketing, analyzes the marketing strategies of two organizations: ASDA and Teach First. It explores how marketing techniques, including Ansoff's growth and branding, are applied to market products. The report delves into the limitations and constraints of marketing, considering legal frameworks like the Goods Act and Consumer Credit Act. It examines the use of marketing research, both qualitative and quantitative, to contribute to marketing plans, including segmentation, targeting, and positioning. Furthermore, the report explains how customer groups are targeted and concludes with a proposal for a coherent marketing mix for a new product or service. The assignment highlights the importance of understanding organizational purpose, utilizing marketing research, and developing effective marketing mixes for business success. It provides a comprehensive overview of marketing principles and their practical application, offering valuable insights for students studying marketing.

UNIT 3. INTRODUCTION TO
MARKETING
STUDENT NAME: DIACONU GIG
CAROL
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Table of Contents
Introduction......................................................................................................................................3
Task 1................................................................................................................................................4
LO1. To understand the organisational purpose of the business ......................................................4
P1. Describing how marketing techniques are used to market products in two organisations, TEACH
FIRST and ASDA ................................................................................................................................4
P2. Describing the limitations and constraints of marketing...............................................................5
Task 2................................................................................................................................................6
LO2. Ability to use marketing research and marketing planning.........................................................6
P3. Describing how selected organisation uses marketing research to contribute to the development
of its marketing plans........................................................................................................................6
P4. Describing how to utilise data and information collected through marketing research to a market
planning............................................................................................................................................7
LO3. To understand how and why customer groups are targeted.......................................................8
P5. Explanation on how and why groups of customers are targeted for selected products..................8
LO4. Ability to develop a coherent marketing mix............................................................................10
P6. Development of a proposal for a coherent marketing mix for a new product or service..............10
Conclusion ......................................................................................................................................12
Reference List..................................................................................................................................13
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·Introduction
Marketing of any product is the topmost priority for any company. Here, in this
assignment the focus would be vested upon some of the basic features of marketing such as
marketing research, marketing activities and proper planning of the organization based on the
marketing research.
Proper understanding of the organisational purpose of the business, ability to use
marketing research and marketing planning and understanding some facts about techniques
used for attracting customers are the key features of this assignment. TEACH FIRST as a
non-profit organization and ASDA as a private sector organization have chosen for the
analysis. The assignment takes a close look at the various aspects of marketing and the
possible ways of marketing mixes for propagation of improved business actions
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·Task 1
· LO1. To understand the organisational purpose of the business
·P1. Describing how marketing techniques are used to market products in two
organisations, TEACH FIRST and ASDA
Marketing techniques are the tools which are used by an organization for
implementation o marketing strategies. These strategies are build up in order to achieve the
objectives and targets set by an organization. Hence in order for implementation of
marketing strategies, organizations such as TEACH FIRST and ASDA make use of effective
marketing techniques as stated below:
·Ansoff's growth: Both TEACH FIRST and ASDA in order for indetification of their
possible options in accordance with strategies use Ansoff's Growth as a tool . It basically
involves 4 strategies namely, market penetration, product developm ent, market-
development and diversification. Marketing penetration is used when company has high
brand recognition in market and also wants a competitive advantage over others. In product
development focus is laid upon replace,ment of existing products with something new. In
market development, for current products new markets are established or foound out.
Diversification is most risky since new resources, customers and capabilities are being
developed.
So, TEACH FIRST makes use of Market development while ASDA makes
use of Market-penetration technique.·Branding: Within this, a brand-new image of the new product or existing product is created
in minds of customers via advertisements in border to differentiate from others. Both the
cited organization make full utilization of this technique.
·Relationship Marketing Strategies: Both organizations are effectively able to manage their
relationships with customers.
TEACH FIRST makes use of multichannel strategy in which they are
connected with cutomers socially through mobiles and social-CRM.
ASDA however manages its relationship with customers by effectively using
Customer experience management technique where based upon those experiences it
alters its services ad products (Asda.com. (2017)).
TEACH FIRST uses internet and social media for branding product. ASDA on the
other hand uses selling outlets, advertisements and social media for its branding.
The valuation of the product needs some basic strategies, as observed Proctor (2005,
p.56). TEACH FIRST is a charitable organisation (Teachfirst.org.uk, 2017). They provide
education to the underprivileged students without pricing. ASDA is food industry, which
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decides its pricing based on the selling of the product. Branding also plays a major role to the
pricing of the company.
·P2. Describing the limitations and constraints of marketing
The buying and selling of any company regulated and guide by the Goods Act 1979,
Consumer Credit Act 1974 and 2006. All companies should abide by the law mentioned in
these two acts. Under different sections of this law as mentioned there above, the company
shall be liable to any act performed by the company under the law.
The breach of which shall be punishable. This Law is dealt with the contract made for
the selling of any goods and right for the unpaid seller. Under the consumer credit act 1974
the customer should be educated properly before the enrolment into a credit agreement. The
Data Protection Act 1998 regulates the access of information of the customer. It also
provides the safe guard to the information provided by the customer. Under the
advertisement act company should not advertise any illegal commitment to a customer.
All marketing and advertisement under this act should publish accurate description of
the product. The advertisement should be legal, truthful and honest. Food retailing company
like ASDA and educational organization like TEACH FIRST should not abrogate theses
codes of conducts for promoting their products. To promote its food products ASDA Should
follow the guidelines mentioned under the Food Act 1978should satisfy the basic satisfaction
quality (Asda.com, 2017).
The food and the sample of the food should be of the same quality. Purchasing
through credit cards at the food corner the company should guaranteed that the information
provided by the customer should not get tampered or licked by the company. The data
provided to the company should be kept secret.
·Task 2
·LO2. Ability to use marketing research and marketing planning
·P3. Describing how selected organisation uses marketing research to contribute to the
development of its marketing plans
To get a proper knowledge of the market a company mainly do a marketing research
as opined by, Wood (2007, p.36). This research has done in two parts, i.e. Qualitative and
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Quantitative. Qualitative analysis is focusing is done basically depending upon the research
made upon various groups, Face to face discussion. It is helpful to discover brands suitable
for the product.
Alongside with this Quantitative research is also helpful to get a proper market
plan. Quantitative research is made focussing on the number users for the product. It could
organize by organizing polls, social media and existing research data. It is done via
campaigning as well, as opined by Berger and Schwartz (2011, p.78).
Without market research, it is not possible to chalk out a market plan. For launching a
new product, a company need to make the marketing research. Market research is done for
the fulfilment three basic needs.
Efficiency improvement, Innovation of a new product and problem identification are
three basic needs for which marketing research is done for a company. Internal sources like
balance sheets, sales man’s report, statistics, and transportation costs are main helping factors
for the company, as observed by Petrin and Train (2010, p.66). On the other hand, External
Sources are helpful to understand the market deeply for the company.
ASDA as a food retailing company need to segment the market, target its consumer,
positioning its product is very necessary. Segmentation helps ASDA to locate different users
with different tastes. Positioning and targeting help ASDA to locate and plan market
properly. Segmentation helps ASDA to divide its consumer pool according to its location, the
food habit and location. Positioning helps a company to allocate its product properly. ASDA
uses positioning technique to locate its market.
·P4. Describing how to utilise data and information collected through marketing
research to a market planning
Marketing Research is gathering information related to market for a company. It
helps a company to plan its marketing strategy. Information collected from the marketing
research helps the companies to locate, target potential market and develop a market plan, as
observed by Hair et al. (2012, p.97). The techniques used for the marketing research such as
Segmentation, Positioning and targeting help a company to locate its market, divide
consumer per their choice of the product.
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To do a market research is not an easy task. Benefits of doing this marketing research
is to have a proper understanding of the market for the company, helps to recognize methods
to launch new businesses and helps to make proper market plan. It also helps a company to
analyse the competition present in the market and reduce the risk for the company launching
a new product.
Per Moe (2011, p.79), marketing planning is written plan to achieve certain goals for
the company. As in case of ASDA segmentation data provided by the marketing research
helps the company to locate its target market.
On the launching of a new product, ASDA can make its plan based on the
segmentation data to promote its product to a location where the need is huge, as opined by
Stephe and Toubia (2010, p.65). The data from the targeting helps ASDA to detect its target
market. The company would not get diversified from the main market. Positioning data
helps the company to have a detailed view on basis of which ASDA can position its products
into a correct segment.
·LO3. To understand how and why customer groups are targeted
·P5. Explanation on how and why groups of customers are targeted for selected
products
STP or segmentation, targeting and positioning involve the potential customers to
regulate the marketing mix of any organisation. Targeting and segmentation support the
organisations to compress the target market into several feasible customer groups for
delivering the products appropriately regarding the demands, observes Proctor (2005, p.54).
Per the segmentation of market, the targeting can be done.
As TEACH FIRST is a voluntary sector and it provides convenient training for two
years to the participants for achieving the qualified teacher status. It is a non-profit
organisation and works for the betterment of the society, therefore the target customer of this
company is the participants with 2.1 degree or above or any degree which elates the
requirements of TEACH FIRAST’s teaching subjects.
The value of the service is the production of qualified and acceptable teacher to the
society to educate the student in an appropriate way. This organisation works within the UK.
TEACH FIRST targets the people with convenient degree who are interested in academic
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profession. With help of several campaigns and events the organisation notifies the people
about their next training programs.
ASDA is the leading online supermarket in the UK. Demographic segmentation is the
most fundamental way to access the target market. There are several types of product ASDA
dealing with. The children staffs are there for the kids and the infants, high pricing
appliances are there for the people with high income, female fashion goods are for the
females only based on gender.
ASDA runs their business globally, so they produce their products regarding the
fashion, taste, tradition etc exist in the specific country. Lifestyles, pattern of use, sensitivity
of price, brand loyalty are the other aspects for segmenting the market (Petrin and Train,
2010, p.5).
Figure 1: Segmentation, targeting and positioning
(Source: Dibb et al. 2005, p.69)
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·LO4. Ability to develop a coherent marketing mix
·P6. Development of a proposal for a coherent marketing mix for a new product or
service
ASDA launches new product in the market which require proper marketing plan
which supports the product to achieve enormous success for the company. Before developing
a marketing plan the company needs to analyse the market conveniently with 4P’s Marketing
Mix analytical tool which can give the effective knowledge about the target market and target
customers.
Product
As a leading supermarket chain this organisation sells large number of products to
their customers. Presently the company launches a new fashion product. This product fulfils
the requirements of latest fashion trends. There is no existing substitute product in the
business market, therefore it can be expected that the product will achieve huge success and
demands.
Price
As there is no substitute product in the market, the price must be set per the
production cost of the product and must be reasonable. Company can introduce a lower price
for the product to increase the number of the demanding customers for the product, as stated
by Berger and Schwartz (2011, p.870).
Place
This is a fashion product for the female, therefore the main target customers for the
product is females and fashion concerned. Besides the other can buy this to gift this to
another. There is different size available for the product. The product can be used by the
infants also. The company should target those markets where the number of the female
customer is more.
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Promotion
The product is new to the market, the customers are not aware about it. ASDA can
arrange some promotional events and campaigns to notify about the product to the customers.
In those events the company can propose promotional price for the product to the customers
which manages to develop the enough demanding and potential customers for the product.
Besides, these events can increase the brand awareness among the clients which drives them
to add some value to the product.
Figure 2: 4P’s of Marketing Mix
(Source: Wood, 2005, p.65)
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·Conclusion
In this assignment, the role of marketing in organisations is discussed. The
assignment describes the several marketing techniques which are used to market the products
of TEACH FIRST and ASDA. There are some limitations and coercions related with those
marketing techniques.
The assignment uses marketing research for marketing planning and describes how
ASDA uses marketing research to contribute to the development of its marketing plans. The
importance of targeting customers and customers group is understood for the selected
products of the organisations TEACH FIRST and ASDA.
The assignment develops a comprehensible marketing mix for a new product of
ASDA which can manage to create a demanding market and potential customers for the
product. Finally, the assignment makes justified recommendations for developing the
effectiveness of the marketing research used for contributing to the betterment of the
marketing plans of TEACH FIRST and ASDA.
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·Reference List
Asda.com. (2017). Asda.com - Online Food Shopping, George, & more. [online] Available
at: http://www.asda.com/ [Accessed 19 Jan. 2017].
Ataman, M.B., Van Heerde, H.J. and Mela, C.F., ( 2010). The long-term effect of marketing
strategy on brand sales. Journal of Marketing Research, 47(5), pp.866-882.
Berger, J. and Schwartz, E.M., (2011). What drives immediate and ongoing word of
mouth?. Journal of Marketing Research, 48(5), pp.869-880.
Cave, S., (2002). Consumer Behaviour in a Week. London: Hodder & Stoughton.
Dibb, S., Simkin, L., Pride, W.M. and Ferrell, O.C., (2005). Marketing: Concepts and
strategies . Boston: Houghton Mifflin.
Hair, J.F., Sarstedt, M., Ringle, C.M. and Mena, J.A., (2012). An assessment of the use of
partial least squares structural equation modeling in marketing research. Journal of the
academy of marketing science, 40(3), pp.414-433.
Moe, W.W. and Trusov, M., (2011). The value of social dynamics in online product ratings
forums. Journal of Marketing Research, 48(3), pp.444-456.
Petrin, A. and Train, K., (2010). A control function approach to endogeneity in consumer
choice models. Journal of marketing research, 47(1), pp.3-13.
Proctor, T., (2005). Essentials of marketing research. New Jersey: Pearson Education.
Spiller, S.A., Fitzsimons, G.J., Lynch Jr, J.G. and McClelland, G.H., (2013). Spotlights,
floodlights, and the magic number zero: Simple effects tests in moderated regression. Journal
of Marketing Research, 50(2), pp.277-288.
Stephen, A.T. and Toubia, O., (2010). Deriving value from social commerce
networks. Journal of marketing research, 47(2), pp.215-228.
Teachfirst.org.uk. (2017). About | Teach First. [online] Available at:
https://www.teachfirst.org.uk/about [Accessed 19 Jan. 2017].
Wood, M.B., (2007). Essential guide to marketing planning. New Jersey: Pearson education.
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