Marketing Principles and Techniques Analysis: Wish-box Store Report

This report examines the marketing strategies employed by the Wish-box Store, a UK-based small grocery store, with the primary objective of increasing sales through various marketing techniques. It begins with an introduction to the concept of marketing, emphasizing its role in creating, retaining, and satisfying customers. The report then delves into Task 1, exploring the marketing mix (product, price, place, and promotion) and its application to the store. Task 2 focuses on market analysis and research, including primary and secondary research methods, and the aims of such research. The report also discusses the tools of marketing analysis, such as political, social, economic, and technological factors. Task 3 explores e-marketing techniques like email marketing, paid advertising, and blogging, along with strategies for managing online image. Finally, Task 4 applies market analysis techniques, interprets findings, and presents conclusions, highlighting the importance of understanding customer preferences and adapting marketing strategies accordingly. The report emphasizes the need for the Wish-box Store to leverage online platforms and expand its business to gain a competitive edge.

MARKETING PRINCIPLE AND
TECHNIQUES

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
Marketing Mix:...........................................................................................................................4
2.1 Aims of market analysis and market research.......................................................................5
2.2 Different Methods of market research..................................................................................5
2.3 Tools of marketing analysis: ...............................................................................................6
TASK 3............................................................................................................................................7
4.1 Techniques used for e-marketing..........................................................................................7
Different ways by which online image are oversee by firm ......................................................7
TASK 4............................................................................................................................................7
3.1 Utilization of techniques of market analysis .......................................................................7
3.2 Interpret the findings ............................................................................................................8
3.2 Present finding .....................................................................................................................8
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing is characterized as a procedure which incorporates different exercises of an
association identified with purchasing and offering of merchandise or services. This idea is
utilized as a part of organizations keeping in mind the end goal to make, hold and fulfil clients
diverse requirement in an effective and efficient manner (Cahn and Abigail, 2014). The report is
based on Wish-box Store which is a UK based small grocery store. The main objective of this
report is to increase the sale of company by using various techniques of marketing like marketing
mix, marketing research, online marketing and utilization of marketing analysis techniques so as
to gain high competitive edge in the market.
TASK 1
Concept of Marketing: The term “Marketing” is recognized as a social procedure by which
items, services or process moves from idea to customers. It helps in pulling in and holding more
number of clients and keeping up an extensive shopper base (Mughari, 2015). Predominantly,
firms utilize advertising idea keeping in mind the end goal to advance their merchandise and
ventures in showcase and impart their esteem and advantages to clients. Through showcasing,
amazing items are offer to purchasers that gives some an incentive to them and fulfil their
requirements. It's consist of 4 main P's including price, product, place and promotion known as
Marketing Mix.
Different exercises are performed by showcasing office keeping in mind the end goal to
accomplish objectives and targets of organization. A portion of these exercises are characterized
below:
Promotion: One of the principle action of showcasing is advancement of products and
enterprises in advertise keeping in mind the end goal to mindful clients about them and
conveying its esteem and advantages. It enables firm in achieving high deals and benefits.
Build strong customer relation: Marketing exercises of organization additionally helps making
extensive client base by keeping up great connection with them (Constantinescu, 2012). It
additionally aids mindful clients about brand and create solid picture of firm in psyches of
potential purchasers.
Segmentation of market

Market division is distinguished as the way toward segmented market into little
homogeneous gatherings. Individuals from sub divisions share same attributes and have at least
one regular perspective. It categorise into following:
 Behavioural segmentation: This division is done based on behaviour, usage, preference
and conduct of group of target customers.
 Psychographic Segmentation: : It depends on way of personality, attitude and lifestyle
clients. State of mind of purchasers is considered by Wish-box Store before separating
their market (French and Gordon, 2015).
 Geographic Segmentation: In this, advertise is partitioned on premise of geology.
Division of this kind is imperative for Wish-box Stores as prerequisites of individuals of
various districts are unmistakable. For instance: In a few zones, request of transitory
products are high while low in a few districts.
 Demographic Segmentation : Some factors are there based on which market is isolated
like salary, age, religion, sexual orientation, family measure, nationality and so on. This
division is finished by Wish-box Store by thinking about purchasing conduct of clients.
Marketing Mix:
Marketing Mix can be define as a combination of factors that is mainly controlled by firm
with an aim of influencing customers to purchase respective product or services. It is a blend of
price, product, promotion and place.
Product: As Wish-box Store bargains in retail division, different basic need items are offered by
organization to their potential clients with a specific end goal to meet their prerequisites and
fulfil them. Sustenance items, house hold things, excellence items and so forth are the products
offered by organization.
Price: Wish-box Store utilize aggressive evaluating system and set costs according to the costs
of contenders items. It encourages them in pulling in expansive gathering of clients and
furthermore helps in expanding its gainfulness ( Lees-Marshment, and Lilleker, 2012).
Place: according to the gave data, just a half year altogether are finished by Wish-box Store at a
place in this way, it is troublesome for them to extend their business at different places in this
way, they are require to underscore on development of business at single place.

Promotion: It is exceptionally fundamental for Wish-box Store to mindful their clients about
item. For this, they should utilize different special instruments with a specific end goal to convey
esteem and advantages of their item in a powerful way.
2.1 Aims of market analysis and market research
Market Research assumes crucial part in deciding the genuine needs and needs of client
through social and assessment examine. It enable Wish-box Store to find its objective market
and record their suggestion concerning enthusiasm for the individual product. Essentially, it
gives a photo to showcase in regards to what sort of item organization needs to present in
advertise that satisfy assorted need of client in a compelling and productive way (Mughari,
2011). Research is characterized into two classes to be specific Primary and Secondary which
discussed in brief below:
Primary Research: Data is gathered out of the blue principally through review, focus group
survey etc. Up close and personal communication amongst buyer and specialist.
Secondary Research: In this technique, data is gathered from existing examination. In
straightforward words, it implies utilizing essential wellspring of information for social occasion
advising related with potential purchaser like web, magazine, daily papers and so on.
Aim of market analysis: "To discover more about client in regards to its like and hates and the
market in which they are by and by working".
Aim of research: "To gather and give valuable data to organization that assistance in
accomplishing their general objectives and targets in a savvy and opportune way".
2.2 Different Methods of market research
The fundamental arrangement of statistical surveying incorporate Primary and Secondary
research.
Primary Research Method: Under this, information in regards to client different preferences is
gathered that assistance Wish-box Store in delivering such merchandise and enterprises that
gives higher fulfilment and estimation of cash to potential purchaser (Palizban, Kauhaniemi and
Guerrero, 2014). Normally data under this technique is gathered for the simple first time by
straightforwardly cooperating with clients. It envelops:
1. Observation: Under this, specialist gets the upside of measure the conduct of client with
respect to individual merchandise or administrations.

2. Focus Group: In this strategy, analyst attempt its items on chose few gathering of
individuals from target client. Inquiries are asked related with their conclusions,
discernment or state of mind in regards to particular item or administration.
3. Survey : It is most generally used strategy and comes in wide assortment of size and
shape. It is essentially considered when an element needs to gauge something
quantitatively.
Secondary Research Method: In this strategy, data is gathered with respect to client
preferences and inclinations mostly through web, US evaluation information, diaries, twitter
remarks and so on (Salvo, 2015). The fundamental preferred standpoint of this technique is it is
accessible free of cost.
2.3 Tools of marketing analysis:
There are different apparatus that exist in showcase that straightforwardly or in a
roundabout way influence general activity and capacity of an organization. It incorporate
political, social, mechanical and practical.
11 Political Factors: It recognize the degree to which government will undoubtedly meddle
in business exercises. In fact, it covers exchange confinements, assess laws, business
arrangements and so on. Because of Brexit, there is political shakiness in UK which
antagonistically influence association's benefit.11 Social Factors: This arrangement with culture and conviction of the general public in
which Wish-box Store is directly working. Different preferences of target shopper are as
often as possible changing which empower firm to make items as needs be.11 Economical Factors: Inflation strike in UK because of Brexit which drive nearby
occupants to move to some other neighbourhood retailer offering comparative items and
products (Seeram, 2015).11 Technological Factors: Company can increase high upper hand in the market because of
top of the line innovation. Dawn Store can dispatch its portable application through
which they can grow its piece of the overall industry and make solid client base.

TASK 3
4.1 Techniques used for e-marketing
Different kinds of e-marketing strategies are utilized by firms keeping in mind the end
goal to offer their merchandise and enterprises in market. A portion of these are characterized
below:
1. Email promoting: It is a conventional method for doing web based marketing. Firm can
showcase their merchandise by sending messages straightforwardly on the ids of clients
when they arrange items by utilizing on the web mode. A few rebates are likewise given
by organization to clients (Strauss and Frost, 2016).
2. Paid promoting: In modern era, paid advertising are more used by organization as it is a
standout amongst the best technique for electronic advertising. For Wish-box Store, it
can be a more dependable strategy for promoting or for offering results of firm.
3. Blogging: It is exceptionally prominent strategy among organizations for advertising of
their products. Acquaintance of sites empowers organization with get their substance on
the web. It makes simple and quick for organizations to distribute their substance and
furthermore create monstrous abundance of data or substance for open.
Different ways by which online image are oversee by firm
There are different routes through which firm can deal with their e-marketing are listed
below:
 Differentiate web nearness.
 Choosing most suitable channel of social network
 Focusing on disconnected clients.
 Owning first page of web index.
 Improve site with organization name.
 Survey of locales or sites
TASK 4
3.1 Utilization of techniques of market analysis
Market Research is normally embraced by organization not to contend with other existing
opponents but rather additionally to acquire diagnostic data on rivalry, market size and other
assorted needs of market. It help in building solid relationship among client by knowing their
genuine inclination and likes with the goal that organization can make items as needs be. With

the assistance of these methods, it wind up less demanding for Wish-box Store to distinguish
existing issue and after that detail techniques in like manner. For example: The fundamental
point of organization is to extend its piece of the overall industry and increment the quantity of
potential purchasers that contributes essentially towards creating higher benefit proportion.
3.2 Interpret the findings
Based on previously mentioned various tools of marketing devices, it can be make sense
of that, Wish-box Store are require to complete business exercises in more precise way. They
have to distinguish what are the present preferences of target gathering of people (Vasileiou and
Rowley, 2011). Presently a days purchasers want to buy item through online sites or versatile
application Thinking about this data, the organization needs to present its own portable
application with the goal that their products can viably reach up-to most extreme number of
clients. All techniques that have been planned for the same must be executed appropriately so
odds of achieving better results increments.
3.2 Present finding
From the above conducted market research, it can be expressed that in its underlying
stage it end up troublesome for the organization to pull in expansive number of clients.
Subsequently, its deals began diminishing (Palizban, 2014). Anyway keeping in mind the end
goal to adapt up to such circumstance they are require to have profound information and
understanding in regards to all procedures and methodologies identified with promoting. They
ordinarily assemble information about through essential and optional research. Online business
stage has been utilized for drawing in immense number of clients. Also, they are require to grow
its business activity in different territories in order to get the benefit of high focused edge.
CONCLUSION
From the above discussed report it can be presumed that the term “marketing” assume
enter part in expanding the deals and gainfulness of the organization. Heart of each and every
affiliation lies in its promoting capacity. With the assistance of this, business can grab the
consideration of its objective client and earn adequate profits.

REFERENCES
Books and Journals
Cahn, D.D. and Abigail, R.A., 2014. Managing conflict through communication. Pearson.
Constantinescu, M., 2012. The Relationship between the Quality of Life Concept and Social
Marketing Development. International Journal of Economic Practices and Theories.
2(2). pp.75-80.
French, J. and Gordon, R., 2015. Strategic social marketing. Sage.
Lees-Marshment, J. and Lilleker, D.G., 2012. Knowledge sharing and lesson learning:
consultants' perspectives on the international sharing of political marketing
strategy. Contemporary Politics. 18(3). pp.343-354.
Mughari, A.M., 2011. Analysis of guerrilla and traditional marketing integration in improving
the productivity of organizational marketing in enterprises in Iran: A case study of
Kaveh Industrial Estate in Iran. African Journal of Business Management. 5(3). p.944.
Palizban, O., Kauhaniemi, K. and Guerrero, J.M., 2014. Microgrids in active network
management—Part I: Hierarchical control, energy storage, virtual power plants, and
market participation. Renewable and Sustainable Energy Reviews. 36. pp.428-439.
Salvo, S.G., 2015. Massage Therapy-E-Book: Principles and Practice. Elsevier Health Sciences.
Seeram, E., 2015. Computed Tomography-E-Book: Physical Principles, Clinical Applications,
and Quality Control. Elsevier Health Sciences.
Strauss, J. and Frost, R.D., 2016. E-marketing: Instructor's Review Copy. Routledge.
Vasileiou, M. and Rowley, J., 2011. Marketing and promotion of e-books in academic
libraries. Journal of documentation. 67(4). pp.624-643.