SlideShare a Scribd company logo
Marketing Principles
Principles of Marketing
Executive Summery
Marketing principles influences largely on the activities of a business firm. The marketing
principles focus on the key principles, functions and practices. These help the business firm or a
company to compete effectively in the market in the ever changing trend to ensure profitability
and growth. Through market research and analysis, the market is being categorized according to
the business need. The marketing environment influences the business activities. Market
segmentation divides the market to reach the customers properly. How the internal and external
factors influence on the business strategies, how to set a positioning map, how to analyse
competitors etc. have been discussed in this assignment.
Contents
Principles of Marketing 1
Executive Summery 2
Introduction 4
P1 Explaining the various elements of the marketing process using the key elements from the
case 5
P2 Evaluating the benefits and costs of a marketing orientation. 7
P3 Macro and micro environmental factors which influence marketing decisions 8
P4 Proposing segmentation criteria to be used for products in different markets 9
P5 A targeting strategy for a selected product/service. 10
P6 Demonstrating how buyer behaviour affects marketing activities in different buying
situations. You may draw your answers from the factors identified in case above. 12
P7 Proposing new positioning for a selected product/service. 13
P8 Explaining how products are developed to sustain competitive advantage 15
P9 Explaining how distribution is arranged to provide customer convenience 16
P10 Explaining how prices are set to reflects an organization’s objectives and market conditions.
17
P11 Illustrating how promotional activity is integrated to achieve marketing objectives using the
Motorola case or any other organization 18
P12 Analysing the additional elements of the extended marketing mix. 19
P13 Plan marketing mixes for two different segments in consumer market 20
P14 Illustrating differences in marketing products and services to businesses rather than
consumers. 20
P15 Show how and why international marketing differs from domestic marketing. 22
Conclusion 23
References & Bibliography: 23
Introduction
All the marketing plans and the strategies are decided to reach the customers and the make the
expected profit. Marketing principles are the key points what effectively help in deciding the
marketing plans and strategies. The market is influenced by many macro & micro factors which
have a great impact on the changes of customer choices and needs. Concentrated marketing on
customers classifies the market to reach the only customers who are the actual consumer of the
products and services. It is very important to set an effective marketing plan to plan for providing
the products to the end consumers according to the place, price and the promotional activities are
also to be done for continuing the business by satisfying thee customers’ needs and demands.
P1 Explaining the various elements of the marketing process using the key elements from
the case
The marketing mix is a tool which is used in businesses to help for the determination of a
product or brands offering. E. Jerome McCarthy’s the 4 P’s have been associated with the
marketing mix since 1960. The 4 P’s marketing strategy is given below:
a) Product: The product should satisfy the demand & need of the customer.
b) Place: The product should be available mostly convenient for the consumer.
c) Price: Price should be set in a moderate rate through an adjustment between the customer and
the seller.
d) Promotion: The business firm should promote the business through advertising, developing
public relation, sales promotion.
The extended of 7 P’s:
e) People: People are so much important part of business. Having the right people is essential for
the product or offered service.
f) Processes: The delivery of the service which is done with the customer present also the part of
what the consumer pays for.
g) Physical evidence: All the services including some physical elements even though their
customers are paying for are intangible.
The 7 P’s are widely taught from 1980 due to the fundamental logic in the marketing
environment and also the marketer abilities.
Three alternatives are available for adopting a marketing orientation. These are:
a) Sales orientation: The main problem of some businesses is to face difficulties in selling
product which are already available to them. A sale oriented business pays little attention to
customer needs and wants even not trying hard to create suitable product or services.
b) Production orientation: Making as many units as possible is the main concern for the
production oriented business. The needs of the consumers are compared secondly to increase
output.
c) Product orientation: Actually it is quite obscure to define it from production oriented business.
Considering a business which is obsessed with its own product might be even more arrogant.
Whatever, failing to consider technological changes might be the cause of losing ground to
competitors.
Marketing can be defined as a strategic philosophy by assessing and meeting the needs of the
customers with so many complex and multifaceted activities (Author, P. 2014). The various
elements of marketing process are described below:
A) Understanding the customer needs: At first there needs to understand the customer's choice,
needs, demands. By getting idea from the preference of the customer, the marketing strategy
should be pointed according it (Indeed, W. 2015).In Micky- Mouse Plc. case, the holistic
approach of this organisation was to determining the demands what the customer want today.
B) Segmenting the market: In the next the market is to be segmented according to the class size,
market position.In Micky- Mouse Plc. case, we also see the segmented market to reach the
customer properly.
C) Analysing the competitors: Competitor analysis provides the firm to find out the weakness of
the competitors to set the marketing strategies according to the way (Papers, W. 2013).
D) Researching the market distribution: The products and services is to be reached to the end
consumers through research.Micky- Mouse plc. also focused a lot on market research.
E) Designing a customer driven marketing mix strategy: The marketing strategy should be
designed for the customers (Hearsh, N. 2009).
F) Analysing the financial condition: The business firm must analyse the financial condition
before starting the implementation of any marketing decision.The cost effectiveness and the
economic condition were also evaluated by Micky mouse Plc.
G) Capturing values from customers thorough reviewing and revising: The business firm or the
company should review and revise the marketing strategy for taking the further marketing
decision more effectively (South, W. 2010).
P2 Evaluating the benefits and costs of a marketing orientation.
A marketing orientation helps a company to have a strategic focus on understanding and
advances of the marketing concept (Hearsh, N. 2009).
Customer centric alignment: All the marketing strategies are aligned as according to customer
centric. It helps in decision making level properly what we noticed in Mickey Mouse Plc. case.
Competitive advantages: Through marketing orientation, the strengths and weakness of the
competitors can be identified what we noticed in Mickey Mouse case too (South, W. 2010).
Less productive differentiation: The product differentiation decreases by orienting the market.
Costs: Significant costs come to happen in a strong market orientation. In order to respond
properly and accurately companies need strong market intelligence (Papers, W. 2013). Thus the
investment in researching the market rises to high. Technological infrastructure is also important
for using the databases to gather, analyse and proper usage of customer data. To modify
constantly, it requires investment in ongoing training. The industries whose are experiencing
lower growth and higher competition may provide abysmal return on the investments of market
orientation (SayLor, F. 2015).We find the similarities in Mickey Mouse Plc. case.
P3 Macro and micro environmental factors which influence marketing decisions
Marketing environments can be classified micro and macro categories having a great influence
over the decisions made for a strategic marketing strategic (Indeed, W. 2015).Mickey-Mouse
would also focus on the demographic characteristics of their various customers aimed at
understanding better the buying patterns and behaviours influenced by economic and socio-
cultural factors across time as well as using new loyalty card scheme as current technology
dictates.
Micro environmental factors
A) The suppliers: The suppliers' condition of the same product or service impacts a lot over the
business activities (Forbes, M. 2013).
B) The resellers: The trend of the resellers for purchasing and selling of the goods has also an
influence on the marketing decision.
C) The customers: The responses from the customers also change the marketing decisions.
D) The competitors: The competitors in the market, their strengths & weaknesses etc. also
impact the planning and business environment.
E) The general Public: The psychological belief of the general public over the business firm and
on the product or the service influences the business (Hearsh, N. 2009).
Macro environmental factors
A) Demographic trend: Race, religion, location, age etc. have a great impact on the whole
market.
B) Economic factors: Financial conditions, inflation rate, employment rate etc. also influence the
market to a great extent (SayLor, F. 2015).
C) Natural forces: The climate, geological position, soil, rainfall, seasonal variations etc. actively
influence the market.
D) Technological factors: The new and newer forms of technologies are inventing and coming in
the market with the passage of time. This technological changes impact the business.
E) Political and legal forces: Political condition impacts on the business activities. Legal forces,
moderate political situation etc. impact the business (Quirks, A. 2012).
F) Cultural impact: Culture is varied from country to country, society to Society. The cultural
differences make a difference in a customer's demand, choice and product selection.
P4 Proposing segmentation criteria to be used for products in different markets
Market segmentation is the division into closely distinct groups of consumers. It might be
targeted for different products and thus it requires different marketing efforts (Author, P. 2014).
Selection of criteria is the first step in carrying out the segmentation. Company divides the
market into different groups through segmentation (Papers, W. 2013).The focus would involve
appraisal of various segments where Mickey Mouse Plc. currently operates. They are currently
using more product differentiation in their existing product markets.
According to gender, age, family life cycle, occupation, education, ethnicity, income, market can
be segmented into demographic, geography, psychographic and behavioural division.
Geographical segmentation: The spilt of market among different factors like area, density, city
size, region etc. are under this type of segmentation. Due to the geographical segmented position,
UK has more Diesel stores than those of Japan (Forbes, M. 2013).
Substantial:
Psychographic segmentation: It is based on attitudes, interests, values and personality traits or
lifestyle.
Accessible:
Demographic segmentation: This segmentation is based on such variables like gender, family
size, age, income, religion. Reaction of the customers to an oriented product is influenced by the
demographic variables. Diesel specially produce products their products for the early aged
people and old aged people (Hearsh, N. 2009).
Distinguishable:
Feasible:
Behavioural segmentation: divides the market based on the behavioural response from the
population, how much people use or know about a product. In marketing management, consumer
behaviour is a deeply studied context (South, W. 2010).
P5 A targeting strategy for a selectedproduct/service.
There needs to follow the market targeting strategies after the segmentation of the market into
different classes and groups (SayLor, F. 2015). The targeting strategies can be classified into
three categories. For Mickey- Mouse as a multi-product/service organisation, the success will
depend on the ability to meet the needs of the customers. They can do it through offering the
right product/service at the right price as well as the place using appropriate promotional
strategy. The targeting strategies can be classified into three categories. These are explained
below:
A) Undifferentiated marketing or mass marketing: The market is thought as one group without
any individual segment. For the business or product facing lower competition, this strategy is
mostly suitable as this strategy means for the production of one product for the whole market.
There is no need to market research in this Type of strategy (Hearsh, N. 2009). For the largest
segment of the market, firms usually use undifferentiated marketing for the creation of a product
design.
B) Differentiated marketing or targeted marketing: This strategy is opposite to the differentiated
marketing. The company decides for each individual proposal and acts on different market
segments in this case. At present, differentiated marketing practice is used by increasing number
of firms (Quirks, A. 2012).
C) Concentrated target marketing: A particular market niche selection is focused by this
approach. While focusing on a single segment, the company can easily concentrate on
understanding the wants and needs of particular market intimately (Indeed, W. 2015).
Concentrated marketing basically followed by the small business firms as focusing on single
segment which fuels them to compete against the larger firms effectively.
For Mcdonald, the targeting marketing strategies can be varied like that:
a) Kids: The kids and the product they are offering to them are focused by the strategy. This
strategy is the first targeting strategy of involving young kids between the age of three to seven.
In order to gain more market, they offer THE HAPPY MEAL which comes with chips, a burger
and a soda. But the strategy is to provide a toy with the food items. McDonalds also install
playground in some of their restaurants so kids after eating can go there.
b) Teens and students: Those who want to have some tasty food with friends on a relaxing time
after school, college or university and just have a chill chat, McDonald offers it’s the McCofe
and McDonald breakfast to the students who are in a rush. Students just need to show their ID to
get a discount from McDonald.
P6 Demonstrating how buyer behaviour affects marketing activities in different buying
situations. You may draw your answers from the factors identified in case above.
If the products can be created for the customer wants, the products will influence the buyer. But
there are some factors what actively effect the buying situations what we also noticed in
Motorola case.
According to Jim Riley (2012) "Research suggests that customers go through active stage
decision making process in any purchase (South, W. 2010).
These are explained below:
A) At the first stage, a customer identifies a problem or need. It can also be responds to a
marketing stimulus like while passing a bakery or getting attracted by the aroma of breads and
cakes (Author, P. 2014).
B) Searching information is the next stage which affects marketing activities. At this stage, a
customer starts to find out more information about the service or product. The customers start
gathering information and reviews. There are many wages to gather information.
Public sources: Friends, neighbours etc.
Commercial sources: Retailers, dealers, POS displays, packaging, sales people etc.
Personal sources: different public media like TV, newspaper, radio and specialist magazines.
Experimental sources: examining, using the product (Papers, W. 2013).
C) In the third stage a customer evaluates the alternatives. In this way, customers make a
comparison between alternative brands, goods or services.
D) I purchase decision step, a customer stop choosing and also stop the comparison of goods
(services), manufacturers. Finally the customer purchases the product (Sales, L. 2011).
E) At the last step which is post purchasing evaluation, the customer asses their choices. These
assessment can be implicitly & explicitly both.
The action of buyers for the demand of goods and services, consumer preferences, consumption
etc. is characterized and influenced by the buyer and consumer behaviour (SayLor, F. 2015). In
Motorola case, the attractive design, exceptional qualities etc. are also influential enough.
Customer behaviour can be divided into these three groups:
A) Habitual: These customers usually buy the same products from the same store in the same
way.
B) Variety seeking: This type of consumers often switches brands according their own
evaluation.
C) Dissonance reducing: This type of customers is aware enough about their needs. They have
knowledge enough about services and products. They are in search of finding out the same
product at a lowest range of price (Forbes, M. 2013). They always find out products cheap in
price but highly in quality. Brand is ignored by these customers.
P7 Proposing new positioning for a selectedproduct/service.
Positioning denotes the owning of a piece of customer's mind. Actually it is not that the product
does. It is what a customer does to the mind of respect (Author, P. 2014). Thus positioning is the
set of measures by which the targeted customer's mind in their product has a definite place in
relation to other same type products.From Motorola Case, many people like to buy phones from
independent retailers such as Car phone Warehouse. These can offer a variety of different
phones. They also can suggest the one that is best suited to the customer needs through
determining the positioning.
The company RS Rocket Skates Inc. follows easy current positioning strategy. So look on the
aspect as a marketing person, company needs to change its strategy to confirm position in the
market in Vietnam.
There are two major product lines. RS company can assert own position in the market through
price, product and quality of the product. RS company segmented the product in both the mid
range segment and luxury segment. The quality and the price of luxury products are high in
price. The mid range segmented product costs lower than the luxury products. The RS Company
can fully assert own position on the Vietnam market from the provision of adequate information
combined with the suitable marketing. For the company’s products, this approach can make a
difference. For the RS Company, that is the best positioning strategy.
A positioning strategy can be classified into three steps. First one is to reveal the possible
competitive advantages in order to create a positioning. Second one is to select the proper
competitive advantages and the last one is to select a comprehensive positioning strategy. For the
selected position, effective communication and distribution should be provided by the company
(Hearsh, N. 2009). But the positioning should not be arbitrary. The new positioning should be
decided before starting production. The product is to be designed with a planned position in
mind. The LG brand positioned at the higher end of segmentation. It competes with so many
brands in the market.
P8 Explaining how products are developed to sustain competitive advantage
Due to the rapid progressive change in technology, trends and new state of competition, any firm
or company can't rely on only the currently existing products.From the Motorola case, the
company meets the completion through developing the products quality and also developing the
promotional activities. Promotion includes all of the techniques that a company uses to
communicate with other individuals and organisations. Communications are done through
Motorola and consumers receive them. An important avenue for communication is advertising.
Consumers are in search of new and improved products. The competitors in the market always
try their utmost to provide goods with newer form of innovations (Papers, W. 2013). To ensure
the proper implementation of plan, every company must have a program to develop the new
products.
Marketing strategy and development: At product development trend to happen in different
stages. These stages depend on the company. The most important stages are described below:
A) Idea generation: After the search for new products, the development of a new product is
begun (SayLor, F. 2015). A clear strategy should be created for the development of new
products. SWOT research can provide a lot for generating an idea in a positive way.
B) Development of concept and testing: The generated idea needs to be taken to the target
audience. At this step, price, distribution, promotion, place are being determined according to the
strategies. The company must select strategy which attracts the customers more than the
competitors (Sales, L. 2011).
C) Test marketing: At this stage, the product is primarily launched in small area for testing the
market.
D) Product commercialization: The product is finally selected for commercial purpose in the
market to among the customers (Indeed, W. 2015). How, when and where the products will be
distributed is defined at this stage.
P9 Explaining how distribution is arranged to provide customer convenience
There are several ways in which businesses organise distribution to provide customer
convenience. Based on what sort of business is being operated, the methods used may slightly
vary. For example, for e-commerce business, there are different techniques than the real world
business. Different techniques of different real world businesses are dependent on the size of the
business and where they may be dealing with customers.
For e-commerce business, Amazon.com is a great example. To make things more convenient for
customers, how distribution can be arranged easily understood from the website. Amazon mostly
offer free shipping charges for items that are advertised through them. They can do it as they
have so many distributions centre located all over places.
Next, there are stores from where one can easily walk to them and place order from their display
inventory. The item is then sent to the customer from a local distribution centre that is found in
another part of the city. This method allows cutting down the transportation costs as the items
doesn’t need to be shipped in large quantities towards the customers. The company saves from
the transportation cost, warehousing, labour and other costs translate to savings in final prices for
customers. They also usually mean that fulfilment processes are more reliable as well as the
network for handling the distribution is not complex and prone to problems of challenges.
The products and services of a company must be promoted to all members of the channel. Now-
a-days, online distribution is so much popular. It doesn't need to spend money on heating,
resting, lighting and others (Quirks, A. 2012).
P10 Explaining how prices are set to reflects an organization’s objectives and market
conditions.
The amount of money which is paid by the buyers for goods or services is defined as price
(Author, P. 2014). The core element of the marketing mix is pricing. It creates sales revenue
while all the others are costs. For companies like Motorola, price is a key element in the
marketing mix for the Motorola Company. Price is the monetary expression of value of goods,
services and products (Forbes, M. 2013). Price is an important marketing tool. The reasons are
given below:
A) The sales are affected greatly by the price.
B) Price changing without having any other marketing components has the fastest effect.
C) A potential customer reacts fast to the changes in price rather than changes to the products or
services. Pricing of good or service can be put differently.
The pricing strategy varies due to the objectives of the company, fixed and variable costs,
competition in a similitude section (SayLor, F. 2015).'Getting the price right' is a vital part for
Motorola company of building relationships with customers.
A marketer needs to follow these steps in setting price:
a) Examining company and marketing objectives: At the very beginning, a marketer needs to
examine the market and also defining well the marketing objectives.
b) Determining an initial price: From examining the company and the marketing objectives, it
requires to determine an estimated price.
c) Setting standard price adjustments: After doing that, the marketer should set a standard price
for the product or provided service.
d) Determining promotional pricing: For the promotion of the business, the marketer needs to
market research and also do something for the adjustments.
e) Stating payment options: Finally the marketer has to set the payment method from the
customers for providing the service or any product. The payment option should be convenient for
the customer.
These factors need to be considered while setting the price for the products or services:
a) Costs: Businesses are bound to set price more than what they spend for it. The cost of the
product for the end consumers should be according to their income. Any price setting lack of
market research is enough to discrease the market.
b) Competing products: The competing products of the same product and service should be kept
in research. Any development of competing product can have bad influence over company
product.
c) Consumer demand: The market demand of the product should be considered properly by the
marketer.
d) Product positioning: The product which is going to be satisfied the customer needs should be
positioned according to the macro and micro factors.
P11 Illustrating how promotional activity is integrated to achieve marketing objectives
using the Motorola case or any other organization
In attracting customer interest and persuading customers to buy company product over
competitors, promotional activities are crucial. For the Motorola Company, advertising is an
important avenue and they refer it as 'above the line' promotion. Others and discounts are
referred to as being 'below the line'.
These are explained below:
A) Consistency: For building up a brand, persuading the customers, there needs to present
consistent messages. The messages must consistently depict the core benefits like product quality
or service (Papers, W. 2013). The Motorola Company should maintain the consistency in the
business activities.
B) Sales promotion: In promotional integration, the Motorola Company can offer a coupon with
the products to raise the interest of the customers towards the products.
C) Advertising: It needs to consider reaching the target market in developing a promotional plan.
The Motorola Company should increase its advertising activities for attracting the customers.
This will increase the demand of Motorola products.
D) Repetition: Each targeted customer along with reach should come again to get the product or
service again (Indeed, W. 2015). The Motorola Company should maintain consistency and
repetition in nice business performance.
E) Public Relations: The Motorola Company can promote the business through developing teh
platform with public relationship. For example, the Motorola can advertise the upcoming selling
through sharing a profit in a charity fund.
P12 Analysing the additional elements of the extended marketing mix.
Marketing mix is a system, a set of tactical marketing tool through which the company
implement the marketing strategy (Quirks, A. 2012). The four main components which make the
marketing mix are price, place, promotion, and product. There are additional three 'P' described
below:
• People: In the provisions of services, all the people are involved directly or indirectly.
• Process: Mechanism of actions, procedures, working operations that make up the essence of
services is a significant element of the marketing strategy.
• Physical evidence: Environment can be an example in which services are provided. Material
things help promote and provide services.
4P is being replaced gradually by 7P by extended marketing as it corresponds better features of
services (Hearsh, N. 2009).
P13 Plan marketing mixes for two different segments in consumer market
Marketing is the group to everyone is exposed to the marketing daily even when they do not
know it and billboards enclosed the nation (Forbes, M. 2013). The marketing is a concept that it
is developing the new marketing. They are also known as four “P’s”. The important for an
association to have a good understanding and every element is main developing a marketing
plan. In the marketing mix there are four elements that build up the marketing process.
Marketing mixes are vital in marketing a product. Sony sound system is popular among the
customers though satisfying the customers need and demand.
Process: it is the meaning of achieving the outcome. How the products or services will go in
order to reach a specific person or particular destination. Process can be for how a person buys
an ipod. A customer needs to go a particular website, then enter the specifications and finally
purchase it by providing delivery details.
Physical evidence: The physical evidence of a product is the total product itself. There should be
physical evidence to identify a product for packaging, structure of the organization. It helps to
determine the products better from the other similitude products in the market. So it is so
important to differentiate the product from the competitors. For example, there are so many types
of ipod are available in the market like Sony, Sharp, Panasonic etc.. So it’s important to
differentiate the products from the competitors.
P14 Illustrating differences in marketing products and services to businesses rather than
consumers.
Two consumer market which are UK market and India market for the mobile phone as a product
are discussed below:
Product: The product which is going to be served the customers is crucial. For mobile, the
business strategies will be varied from the UK market to India market. For Uk people, they
expects many features in mobile phone while the people of India don’t know so much about it.
Price: Price is very crucial factor for attracting the customers. But all the customers are not the
same. The users of mobile phone of UK are value based customers while the users from India are
cost based customers. So price plays an important role in capturing the attraction of the
customers.
Place: After determining the price, the products need to deliver to the customers. Uk is more
developed than the India. An UK customer will seek an easier way for getting the product which
can be like home delivery of the product. COD (Cash on delivery) system will be surely more
popular for the customers from India due the market place determination and customer choice.
Promotion: For the promotion of the business, the marketing strategy can be quite different in
India than that of UK. The UK people are more used to internet than those of India. So, for
advertising of the product, the marketing strategy should be focused on online based for the UK
customers. For the customers from India, it needs to focus on television media for the
advertisement in the local market.
There are some major differences exist between the basic principles of marketing products for
business and consumer (Hearsh, N. 2009). These are also noticed in Kensington case. These are
explained below:
Purchase: In contrast to the ordinary consumer, businessmen do not buy goods sell at retail
purchases. They buy large is number like dozens, hundreds or thousands of units. But the seller
must continue the buyer that product is really necessary for his business in order to purchase took
place.
Risks: There are two types of buyer; one is businessman and another is customer. The
businessmen take higher risks than the customers. All the uncertain risks are carried by the
businessmen (Papers, W. 2013).
More technically complex products:
There are not like bricks, screws or nails which can be sold hundreds of tons without special
promotion. More technically complex products denote the all complex products that require
business like construction machinery, sophisticated communications equipment, machinery
tools, with numeral control (SayLor, F. 2015).
Payment: Business to business (B2B) transactions requires an increasing complex business
system. In general customer selection, products are sold. Then place an order and arrange the
delivery through an agreed logistics channel. At the time of order customers don't pay, but
receive an invoice which they settle within agreed Payment term. In B2B, price may vary by
customer. Payment mechanism also differs (Forbes, M. 2013).
P15 Show how and why international marketing differs from domestic marketing.
Although having the same goals, domestic marketing and international marketing differs.
Increasing the sale, profit and revenue are the same for both goals. Due to global financial crises
and sets of logistics constraints sales are slowing down of Kensington case. The company is
facing in its new China operations as it is difficult due to language and other social-cultural
factors which the group’s new operation is currently confronting. Also, complex exporting
regulations make it difficult for consigned auto parts to go through custom checks in
China.Domestic marketing are the marketing strategies to attract and influence customers within
the political boundaries of a country (Hearsh, N. 2009).
The gleaming dissimilarity between the two:
Scope: The international marketing has endless opportunities and scopes which are limited and
will eventually dry up in domestic marketing.
Benefits: International marketing benefits are higher than the domestic market.
Sharing of technology:
Domestic marketing is limited in the use of modern technology whereas international marketing
provides the greater use and sharing of latest technologies (Author, P. 2014).
Political relations: In domestic marketing, there is almost nothing to do on political turmoil
whereas international marketing leads to improvement between countries in good political
relation and also increased level of cooperation as a result.
Barriers: Although domestic marketing do not face so much barriers, international marketing
face many barriers like cross cultural differences, language, traditions, ethnicity and customs
(Papers, W. 2013).
Conclusion
The future is always uncertain. All the marketing plans and strategies should be taken with
having an adjustment with the uncertain future. Marketing authorities are done for selling to
satisfy the needs of people. The marketing activities refer to channelling the gap between service
and product providers to service and product serves which is also known as a way of satisfying
need. A new product may fail for many reasons. But by segmenting the market to the targeted
customers, set a positioning map, reviewing the activities etc. ensures a better future.
References & Bibliography:
Author, P. (2014). Marketing Tutorial. Available: http://www.knowthis.com/principles-of-
marketing-tutorials. Last accessed 10th Jan 2015.
Drews, S. (2010). The Role of Strategy Directors in the Current Economic Environment. GRIN
Verlag.
Forbes, M. (2013). Forbes. Last accessed 12th Jan 2015.
Hearsh, N. (2009). Examples of marketing research Problems. Available:
http://smallbusiness.chron.com/examples-marketing-research-problems-23051.html. Last
accessed 12th Jan 2015.
Indeed, W. (2015). Marketing Manager. Available: http://www.indeed.com/q-Marketing-
Manager-l-Skull-Valley,-AZ-jobs.html. Last accessed 10th jan 2015.
Larson, R. (2008). Starbucks a Strategic Analysis. Past Decisions and Future Options.
Papers, W. (2013). Marketing Research. Last accessed 11th Jan 2015.
Porter, M. (2008) The five competitive forces that shape strategy. Harvard business review,
86(1), 25-40.
Quirks, A. (2012). Marketing Issues. Last accessed 11th Jan 2015.
Sales, L. (2011). Marketing Topics. Available: http://www.sales-lead-
experts.com/speaking/topics/. Last accessed 11th Jan 2015.
SayLor, F. (2015). preliminary Info. Available: http://www.saylor.org/courses/bus203/. Last
accessed 12th Jan 2015.
South, W. (2010). Marketing Research. Last accessed 12th Jan 2015.
 In this case, Net profit margin is positive. Company made more money then its 4 marketing (1)

More Related Content

What's hot

Chapter 1 introduction- MBS Marketing Management
Chapter 1 introduction- MBS Marketing ManagementChapter 1 introduction- MBS Marketing Management
Chapter 1 introduction- MBS Marketing Management
Advance Saraswati Prakashan Pvt Ltd
 
CORE CONCEPTS OF MARKETING-4Ps+STP+CB
CORE CONCEPTS OF MARKETING-4Ps+STP+CBCORE CONCEPTS OF MARKETING-4Ps+STP+CB
CORE CONCEPTS OF MARKETING-4Ps+STP+CB
JyotiPradhan12
 
Introduction to Marketing
Introduction to MarketingIntroduction to Marketing
Introduction to Marketing
Anuradha Chandrawansha
 
Marketing management complete PPT
Marketing management complete PPTMarketing management complete PPT
Marketing management complete PPTYatin Sharma
 
The marketing environment and the marketing information system
The marketing environment and the marketing information systemThe marketing environment and the marketing information system
The marketing environment and the marketing information system
NGANG PEREZ
 
INTRODUCTION TO MARKETING MANAGEMENT
INTRODUCTION TO MARKETING MANAGEMENTINTRODUCTION TO MARKETING MANAGEMENT
INTRODUCTION TO MARKETING MANAGEMENT
Dr. Durgaprasad Navulla
 
Marketing mix
Marketing mixMarketing mix
Marketing mix
deepu2000
 
Forecasting the future for profit - SCIP presentation
Forecasting the future for profit - SCIP presentationForecasting the future for profit - SCIP presentation
Forecasting the future for profit - SCIP presentation
milnerltd
 
The marketing mix
The marketing mixThe marketing mix
The marketing mix
Rosa Domingo
 
Strategic market management gt
Strategic market management gtStrategic market management gt
Strategic market management gt
Tribhuvan University
 
Marketing management-ppt
Marketing management-pptMarketing management-ppt
Marketing management-ppt
masilamani ramasamy
 
Marketing Management - Basics
Marketing Management - BasicsMarketing Management - Basics
Marketing Management - Basics
Sarosh Gul
 
Principles of Marketing _ Chapter 2
Principles of Marketing _ Chapter 2Principles of Marketing _ Chapter 2
Principles of Marketing _ Chapter 2
Haroon Ahmed
 
DIFFERENT APPROACHES TO THE STUDY OF MARKETING
DIFFERENT APPROACHES TO THE STUDY OF MARKETINGDIFFERENT APPROACHES TO THE STUDY OF MARKETING
DIFFERENT APPROACHES TO THE STUDY OF MARKETINGDEVIKA ANTHARJANAM
 
RESUME - THOMAS J MICHALSKI 2016
RESUME - THOMAS J MICHALSKI 2016RESUME - THOMAS J MICHALSKI 2016
RESUME - THOMAS J MICHALSKI 2016THOMAS MICHALSKI
 
Module 2- Key Concepts of Marketing Process
Module 2- Key Concepts of Marketing ProcessModule 2- Key Concepts of Marketing Process
Module 2- Key Concepts of Marketing Process
DANEKHRYSSELSEVERA
 

What's hot (20)

Chapter 1 introduction- MBS Marketing Management
Chapter 1 introduction- MBS Marketing ManagementChapter 1 introduction- MBS Marketing Management
Chapter 1 introduction- MBS Marketing Management
 
Chapter2
Chapter2Chapter2
Chapter2
 
CORE CONCEPTS OF MARKETING-4Ps+STP+CB
CORE CONCEPTS OF MARKETING-4Ps+STP+CBCORE CONCEPTS OF MARKETING-4Ps+STP+CB
CORE CONCEPTS OF MARKETING-4Ps+STP+CB
 
Introduction to Marketing
Introduction to MarketingIntroduction to Marketing
Introduction to Marketing
 
Marketing management complete PPT
Marketing management complete PPTMarketing management complete PPT
Marketing management complete PPT
 
Marketing Management
Marketing ManagementMarketing Management
Marketing Management
 
The marketing environment and the marketing information system
The marketing environment and the marketing information systemThe marketing environment and the marketing information system
The marketing environment and the marketing information system
 
INTRODUCTION TO MARKETING MANAGEMENT
INTRODUCTION TO MARKETING MANAGEMENTINTRODUCTION TO MARKETING MANAGEMENT
INTRODUCTION TO MARKETING MANAGEMENT
 
Marketing Management Notes Unit II
Marketing Management Notes   Unit   IIMarketing Management Notes   Unit   II
Marketing Management Notes Unit II
 
Marketing mix
Marketing mixMarketing mix
Marketing mix
 
Forecasting the future for profit - SCIP presentation
Forecasting the future for profit - SCIP presentationForecasting the future for profit - SCIP presentation
Forecasting the future for profit - SCIP presentation
 
The marketing mix
The marketing mixThe marketing mix
The marketing mix
 
Strategic market management gt
Strategic market management gtStrategic market management gt
Strategic market management gt
 
Marketing management-ppt
Marketing management-pptMarketing management-ppt
Marketing management-ppt
 
Marketing Management - Basics
Marketing Management - BasicsMarketing Management - Basics
Marketing Management - Basics
 
Principles of Marketing _ Chapter 2
Principles of Marketing _ Chapter 2Principles of Marketing _ Chapter 2
Principles of Marketing _ Chapter 2
 
DIFFERENT APPROACHES TO THE STUDY OF MARKETING
DIFFERENT APPROACHES TO THE STUDY OF MARKETINGDIFFERENT APPROACHES TO THE STUDY OF MARKETING
DIFFERENT APPROACHES TO THE STUDY OF MARKETING
 
RESUME - THOMAS J MICHALSKI 2016
RESUME - THOMAS J MICHALSKI 2016RESUME - THOMAS J MICHALSKI 2016
RESUME - THOMAS J MICHALSKI 2016
 
Marketing notes
Marketing notesMarketing notes
Marketing notes
 
Module 2- Key Concepts of Marketing Process
Module 2- Key Concepts of Marketing ProcessModule 2- Key Concepts of Marketing Process
Module 2- Key Concepts of Marketing Process
 

Viewers also liked

Computer
ComputerComputer
Computerveracha
 
Vibration arenas
Vibration arenasVibration arenas
Vibration arenasmihaelz
 
Vera donghae
Vera donghaeVera donghae
Vera donghaeveracha
 
Terrones entering the conversation ppt
Terrones entering the conversation pptTerrones entering the conversation ppt
Terrones entering the conversation pptlterrones
 
Iberomet ezd
Iberomet ezdIberomet ezd
Iberomet ezdmihaelz
 
From Hobby to Business: 3 Strategies for Success
From Hobby to Business: 3 Strategies for SuccessFrom Hobby to Business: 3 Strategies for Success
From Hobby to Business: 3 Strategies for Success
Rebekah Pierce
 
W13 libr250 databases_scholarlyvs_popular
W13 libr250 databases_scholarlyvs_popularW13 libr250 databases_scholarlyvs_popular
W13 libr250 databases_scholarlyvs_popularlterrones
 
Get This Story Out of My Head
Get This Story Out of My HeadGet This Story Out of My Head
Get This Story Out of My Head
Rebekah Pierce
 
Sped501
Sped501Sped501
Sped501
lterrones
 
W13 libr250 do_iv_urlciations
W13 libr250 do_iv_urlciationsW13 libr250 do_iv_urlciations
W13 libr250 do_iv_urlciationslterrones
 
W13 libr250 topicto_researchq_ppt
W13 libr250 topicto_researchq_pptW13 libr250 topicto_researchq_ppt
W13 libr250 topicto_researchq_pptlterrones
 
97674720 buku-mikrokontroler-atmega8535-dengan-codevisionavr
97674720 buku-mikrokontroler-atmega8535-dengan-codevisionavr97674720 buku-mikrokontroler-atmega8535-dengan-codevisionavr
97674720 buku-mikrokontroler-atmega8535-dengan-codevisionavrPrayogy Pangestu
 
How to Tell Your Story...After the Elevator Speech
How to Tell Your Story...After the Elevator SpeechHow to Tell Your Story...After the Elevator Speech
How to Tell Your Story...After the Elevator Speech
Rebekah Pierce
 
First Communion Dresses 2013 www.flowergirldressforless.com
First Communion Dresses 2013 www.flowergirldressforless.comFirst Communion Dresses 2013 www.flowergirldressforless.com
First Communion Dresses 2013 www.flowergirldressforless.com
flowergirldressforless
 

Viewers also liked (16)

working on it
working on itworking on it
working on it
 
Computer
ComputerComputer
Computer
 
Vibration arenas
Vibration arenasVibration arenas
Vibration arenas
 
Vera donghae
Vera donghaeVera donghae
Vera donghae
 
Terrones entering the conversation ppt
Terrones entering the conversation pptTerrones entering the conversation ppt
Terrones entering the conversation ppt
 
Iberomet ezd
Iberomet ezdIberomet ezd
Iberomet ezd
 
From Hobby to Business: 3 Strategies for Success
From Hobby to Business: 3 Strategies for SuccessFrom Hobby to Business: 3 Strategies for Success
From Hobby to Business: 3 Strategies for Success
 
W13 libr250 databases_scholarlyvs_popular
W13 libr250 databases_scholarlyvs_popularW13 libr250 databases_scholarlyvs_popular
W13 libr250 databases_scholarlyvs_popular
 
Get This Story Out of My Head
Get This Story Out of My HeadGet This Story Out of My Head
Get This Story Out of My Head
 
Sped501
Sped501Sped501
Sped501
 
Wp71
Wp71Wp71
Wp71
 
W13 libr250 do_iv_urlciations
W13 libr250 do_iv_urlciationsW13 libr250 do_iv_urlciations
W13 libr250 do_iv_urlciations
 
W13 libr250 topicto_researchq_ppt
W13 libr250 topicto_researchq_pptW13 libr250 topicto_researchq_ppt
W13 libr250 topicto_researchq_ppt
 
97674720 buku-mikrokontroler-atmega8535-dengan-codevisionavr
97674720 buku-mikrokontroler-atmega8535-dengan-codevisionavr97674720 buku-mikrokontroler-atmega8535-dengan-codevisionavr
97674720 buku-mikrokontroler-atmega8535-dengan-codevisionavr
 
How to Tell Your Story...After the Elevator Speech
How to Tell Your Story...After the Elevator SpeechHow to Tell Your Story...After the Elevator Speech
How to Tell Your Story...After the Elevator Speech
 
First Communion Dresses 2013 www.flowergirldressforless.com
First Communion Dresses 2013 www.flowergirldressforless.comFirst Communion Dresses 2013 www.flowergirldressforless.com
First Communion Dresses 2013 www.flowergirldressforless.com
 

Similar to In this case, Net profit margin is positive. Company made more money then its 4 marketing (1)

Mkt Plan
Mkt PlanMkt Plan
Mkt Plantogtox
 
MBM 6109 Revision Qns and Answers.docx Guiding quaestions and answers
MBM 6109 Revision Qns and Answers.docx Guiding quaestions and answersMBM 6109 Revision Qns and Answers.docx Guiding quaestions and answers
MBM 6109 Revision Qns and Answers.docx Guiding quaestions and answers
ahimbisibwelamed
 
MBM 6109 Revision Qns and Answers.docx final
MBM 6109 Revision Qns and Answers.docx finalMBM 6109 Revision Qns and Answers.docx final
MBM 6109 Revision Qns and Answers.docx final
ahimbisibwelamed
 
Unit 1
Unit 1Unit 1
Unit 1
prachimba
 
Marketing strategy of dabur india ltd
Marketing strategy of dabur india ltdMarketing strategy of dabur india ltd
Marketing strategy of dabur india ltdAbhishek Keshri
 
Report on Strategic Marketing Chapter Review [Elegant (VI)]
Report on Strategic Marketing Chapter Review [Elegant (VI)]Report on Strategic Marketing Chapter Review [Elegant (VI)]
Report on Strategic Marketing Chapter Review [Elegant (VI)]
Md. Abdur Rakib
 
Marketing process needs market research
Marketing process needs market researchMarketing process needs market research
Marketing process needs market researchkrishymohan
 
MBM_6109_CAT 1_Deliverable_Lamed.docx for coursework submission
MBM_6109_CAT 1_Deliverable_Lamed.docx for coursework submissionMBM_6109_CAT 1_Deliverable_Lamed.docx for coursework submission
MBM_6109_CAT 1_Deliverable_Lamed.docx for coursework submission
ahimbisibwelamed
 
MBM_6109_CAT 1_Deliverable_Lamed.docx deliverable
MBM_6109_CAT 1_Deliverable_Lamed.docx deliverableMBM_6109_CAT 1_Deliverable_Lamed.docx deliverable
MBM_6109_CAT 1_Deliverable_Lamed.docx deliverable
ahimbisibwelamed
 
Marketing introduction
Marketing introductionMarketing introduction
Marketing introduction
ARATHIM6
 
Chapter five
Chapter fiveChapter five
Chapter five
teza bekele
 
Effect of Pull and Push Marketing Strategies in the Pharmaceutical Field
Effect of Pull and Push Marketing Strategies in the Pharmaceutical FieldEffect of Pull and Push Marketing Strategies in the Pharmaceutical Field
Effect of Pull and Push Marketing Strategies in the Pharmaceutical Field
International Journal of Business Marketing and Management (IJBMM)
 
Marketing Mgt. notes and Planning template for SMEs
Marketing Mgt. notes and Planning template for SMEsMarketing Mgt. notes and Planning template for SMEs
Marketing Mgt. notes and Planning template for SMEs
Kofi Kyeremateng Nyanteng
 
Week 05 - Marketing and Project Management
Week 05 - Marketing and Project ManagementWeek 05 - Marketing and Project Management
Week 05 - Marketing and Project ManagementAbid Khan
 
The Project Management Process - Week 5
The Project Management Process - Week 5The Project Management Process - Week 5
The Project Management Process - Week 5
Craig Brown
 
Unit 2Marketing Essentials.docx
Unit 2Marketing Essentials.docxUnit 2Marketing Essentials.docx
Unit 2Marketing Essentials.docx
SyedmunimejazEjaz
 
Chapter 2 strategic marketing
Chapter 2   strategic marketingChapter 2   strategic marketing
Chapter 2 strategic marketingEyya Ahmed
 
Unit 1 marketing management
Unit 1  marketing managementUnit 1  marketing management
Unit 1 marketing management
prachimba
 

Similar to In this case, Net profit margin is positive. Company made more money then its 4 marketing (1) (20)

Mkt Plan
Mkt PlanMkt Plan
Mkt Plan
 
entrepreneur[1].pdf
entrepreneur[1].pdfentrepreneur[1].pdf
entrepreneur[1].pdf
 
MBM 6109 Revision Qns and Answers.docx Guiding quaestions and answers
MBM 6109 Revision Qns and Answers.docx Guiding quaestions and answersMBM 6109 Revision Qns and Answers.docx Guiding quaestions and answers
MBM 6109 Revision Qns and Answers.docx Guiding quaestions and answers
 
MBM 6109 Revision Qns and Answers.docx final
MBM 6109 Revision Qns and Answers.docx finalMBM 6109 Revision Qns and Answers.docx final
MBM 6109 Revision Qns and Answers.docx final
 
Unit 1
Unit 1Unit 1
Unit 1
 
Marketing strategy of dabur india ltd
Marketing strategy of dabur india ltdMarketing strategy of dabur india ltd
Marketing strategy of dabur india ltd
 
Report on Strategic Marketing Chapter Review [Elegant (VI)]
Report on Strategic Marketing Chapter Review [Elegant (VI)]Report on Strategic Marketing Chapter Review [Elegant (VI)]
Report on Strategic Marketing Chapter Review [Elegant (VI)]
 
Marketing process needs market research
Marketing process needs market researchMarketing process needs market research
Marketing process needs market research
 
MBM_6109_CAT 1_Deliverable_Lamed.docx for coursework submission
MBM_6109_CAT 1_Deliverable_Lamed.docx for coursework submissionMBM_6109_CAT 1_Deliverable_Lamed.docx for coursework submission
MBM_6109_CAT 1_Deliverable_Lamed.docx for coursework submission
 
MBM_6109_CAT 1_Deliverable_Lamed.docx deliverable
MBM_6109_CAT 1_Deliverable_Lamed.docx deliverableMBM_6109_CAT 1_Deliverable_Lamed.docx deliverable
MBM_6109_CAT 1_Deliverable_Lamed.docx deliverable
 
Marketing introduction
Marketing introductionMarketing introduction
Marketing introduction
 
Chapter five
Chapter fiveChapter five
Chapter five
 
Effect of Pull and Push Marketing Strategies in the Pharmaceutical Field
Effect of Pull and Push Marketing Strategies in the Pharmaceutical FieldEffect of Pull and Push Marketing Strategies in the Pharmaceutical Field
Effect of Pull and Push Marketing Strategies in the Pharmaceutical Field
 
Marketing Mgt. notes and Planning template for SMEs
Marketing Mgt. notes and Planning template for SMEsMarketing Mgt. notes and Planning template for SMEs
Marketing Mgt. notes and Planning template for SMEs
 
Marketing
MarketingMarketing
Marketing
 
Week 05 - Marketing and Project Management
Week 05 - Marketing and Project ManagementWeek 05 - Marketing and Project Management
Week 05 - Marketing and Project Management
 
The Project Management Process - Week 5
The Project Management Process - Week 5The Project Management Process - Week 5
The Project Management Process - Week 5
 
Unit 2Marketing Essentials.docx
Unit 2Marketing Essentials.docxUnit 2Marketing Essentials.docx
Unit 2Marketing Essentials.docx
 
Chapter 2 strategic marketing
Chapter 2   strategic marketingChapter 2   strategic marketing
Chapter 2 strategic marketing
 
Unit 1 marketing management
Unit 1  marketing managementUnit 1  marketing management
Unit 1 marketing management
 

Recently uploaded

Enterprise Excellence is Inclusive Excellence.pdf
Enterprise Excellence is Inclusive Excellence.pdfEnterprise Excellence is Inclusive Excellence.pdf
Enterprise Excellence is Inclusive Excellence.pdf
KaiNexus
 
April 2024 Nostalgia Products Newsletter
April 2024 Nostalgia Products NewsletterApril 2024 Nostalgia Products Newsletter
April 2024 Nostalgia Products Newsletter
NathanBaughman3
 
Exploring Patterns of Connection with Social Dreaming
Exploring Patterns of Connection with Social DreamingExploring Patterns of Connection with Social Dreaming
Exploring Patterns of Connection with Social Dreaming
Nicola Wreford-Howard
 
Unveiling the Secrets How Does Generative AI Work.pdf
Unveiling the Secrets How Does Generative AI Work.pdfUnveiling the Secrets How Does Generative AI Work.pdf
Unveiling the Secrets How Does Generative AI Work.pdf
Sam H
 
Cracking the Workplace Discipline Code Main.pptx
Cracking the Workplace Discipline Code Main.pptxCracking the Workplace Discipline Code Main.pptx
Cracking the Workplace Discipline Code Main.pptx
Workforce Group
 
Digital Transformation and IT Strategy Toolkit and Templates
Digital Transformation and IT Strategy Toolkit and TemplatesDigital Transformation and IT Strategy Toolkit and Templates
Digital Transformation and IT Strategy Toolkit and Templates
Aurelien Domont, MBA
 
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
BBPMedia1
 
Cree_Rey_BrandIdentityKit.PDF_PersonalBd
Cree_Rey_BrandIdentityKit.PDF_PersonalBdCree_Rey_BrandIdentityKit.PDF_PersonalBd
Cree_Rey_BrandIdentityKit.PDF_PersonalBd
creerey
 
Skye Residences | Extended Stay Residences Near Toronto Airport
Skye Residences | Extended Stay Residences Near Toronto AirportSkye Residences | Extended Stay Residences Near Toronto Airport
Skye Residences | Extended Stay Residences Near Toronto Airport
marketingjdass
 
Memorandum Of Association Constitution of Company.ppt
Memorandum Of Association Constitution of Company.pptMemorandum Of Association Constitution of Company.ppt
Memorandum Of Association Constitution of Company.ppt
seri bangash
 
Attending a job Interview for B1 and B2 Englsih learners
Attending a job Interview for B1 and B2 Englsih learnersAttending a job Interview for B1 and B2 Englsih learners
Attending a job Interview for B1 and B2 Englsih learners
Erika906060
 
amptalk_RecruitingDeck_english_2024.06.05
amptalk_RecruitingDeck_english_2024.06.05amptalk_RecruitingDeck_english_2024.06.05
amptalk_RecruitingDeck_english_2024.06.05
marketing317746
 
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
BBPMedia1
 
Business Valuation Principles for Entrepreneurs
Business Valuation Principles for EntrepreneursBusiness Valuation Principles for Entrepreneurs
Business Valuation Principles for Entrepreneurs
Ben Wann
 
Brand Analysis for an artist named Struan
Brand Analysis for an artist named StruanBrand Analysis for an artist named Struan
Brand Analysis for an artist named Struan
sarahvanessa51503
 
Sustainability: Balancing the Environment, Equity & Economy
Sustainability: Balancing the Environment, Equity & EconomySustainability: Balancing the Environment, Equity & Economy
Sustainability: Balancing the Environment, Equity & Economy
Operational Excellence Consulting
 
CADAVER AS OUR FIRST TEACHER anatomt in your.pptx
CADAVER AS OUR FIRST TEACHER anatomt in your.pptxCADAVER AS OUR FIRST TEACHER anatomt in your.pptx
CADAVER AS OUR FIRST TEACHER anatomt in your.pptx
fakeloginn69
 
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraTata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
Avirahi City Dholera
 
20240425_ TJ Communications Credentials_compressed.pdf
20240425_ TJ Communications Credentials_compressed.pdf20240425_ TJ Communications Credentials_compressed.pdf
20240425_ TJ Communications Credentials_compressed.pdf
tjcomstrang
 
ikea_woodgreen_petscharity_dog-alogue_digital.pdf
ikea_woodgreen_petscharity_dog-alogue_digital.pdfikea_woodgreen_petscharity_dog-alogue_digital.pdf
ikea_woodgreen_petscharity_dog-alogue_digital.pdf
agatadrynko
 

Recently uploaded (20)

Enterprise Excellence is Inclusive Excellence.pdf
Enterprise Excellence is Inclusive Excellence.pdfEnterprise Excellence is Inclusive Excellence.pdf
Enterprise Excellence is Inclusive Excellence.pdf
 
April 2024 Nostalgia Products Newsletter
April 2024 Nostalgia Products NewsletterApril 2024 Nostalgia Products Newsletter
April 2024 Nostalgia Products Newsletter
 
Exploring Patterns of Connection with Social Dreaming
Exploring Patterns of Connection with Social DreamingExploring Patterns of Connection with Social Dreaming
Exploring Patterns of Connection with Social Dreaming
 
Unveiling the Secrets How Does Generative AI Work.pdf
Unveiling the Secrets How Does Generative AI Work.pdfUnveiling the Secrets How Does Generative AI Work.pdf
Unveiling the Secrets How Does Generative AI Work.pdf
 
Cracking the Workplace Discipline Code Main.pptx
Cracking the Workplace Discipline Code Main.pptxCracking the Workplace Discipline Code Main.pptx
Cracking the Workplace Discipline Code Main.pptx
 
Digital Transformation and IT Strategy Toolkit and Templates
Digital Transformation and IT Strategy Toolkit and TemplatesDigital Transformation and IT Strategy Toolkit and Templates
Digital Transformation and IT Strategy Toolkit and Templates
 
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
 
Cree_Rey_BrandIdentityKit.PDF_PersonalBd
Cree_Rey_BrandIdentityKit.PDF_PersonalBdCree_Rey_BrandIdentityKit.PDF_PersonalBd
Cree_Rey_BrandIdentityKit.PDF_PersonalBd
 
Skye Residences | Extended Stay Residences Near Toronto Airport
Skye Residences | Extended Stay Residences Near Toronto AirportSkye Residences | Extended Stay Residences Near Toronto Airport
Skye Residences | Extended Stay Residences Near Toronto Airport
 
Memorandum Of Association Constitution of Company.ppt
Memorandum Of Association Constitution of Company.pptMemorandum Of Association Constitution of Company.ppt
Memorandum Of Association Constitution of Company.ppt
 
Attending a job Interview for B1 and B2 Englsih learners
Attending a job Interview for B1 and B2 Englsih learnersAttending a job Interview for B1 and B2 Englsih learners
Attending a job Interview for B1 and B2 Englsih learners
 
amptalk_RecruitingDeck_english_2024.06.05
amptalk_RecruitingDeck_english_2024.06.05amptalk_RecruitingDeck_english_2024.06.05
amptalk_RecruitingDeck_english_2024.06.05
 
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
 
Business Valuation Principles for Entrepreneurs
Business Valuation Principles for EntrepreneursBusiness Valuation Principles for Entrepreneurs
Business Valuation Principles for Entrepreneurs
 
Brand Analysis for an artist named Struan
Brand Analysis for an artist named StruanBrand Analysis for an artist named Struan
Brand Analysis for an artist named Struan
 
Sustainability: Balancing the Environment, Equity & Economy
Sustainability: Balancing the Environment, Equity & EconomySustainability: Balancing the Environment, Equity & Economy
Sustainability: Balancing the Environment, Equity & Economy
 
CADAVER AS OUR FIRST TEACHER anatomt in your.pptx
CADAVER AS OUR FIRST TEACHER anatomt in your.pptxCADAVER AS OUR FIRST TEACHER anatomt in your.pptx
CADAVER AS OUR FIRST TEACHER anatomt in your.pptx
 
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraTata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
 
20240425_ TJ Communications Credentials_compressed.pdf
20240425_ TJ Communications Credentials_compressed.pdf20240425_ TJ Communications Credentials_compressed.pdf
20240425_ TJ Communications Credentials_compressed.pdf
 
ikea_woodgreen_petscharity_dog-alogue_digital.pdf
ikea_woodgreen_petscharity_dog-alogue_digital.pdfikea_woodgreen_petscharity_dog-alogue_digital.pdf
ikea_woodgreen_petscharity_dog-alogue_digital.pdf
 

In this case, Net profit margin is positive. Company made more money then its 4 marketing (1)

  • 1. Marketing Principles Principles of Marketing Executive Summery Marketing principles influences largely on the activities of a business firm. The marketing principles focus on the key principles, functions and practices. These help the business firm or a company to compete effectively in the market in the ever changing trend to ensure profitability and growth. Through market research and analysis, the market is being categorized according to the business need. The marketing environment influences the business activities. Market segmentation divides the market to reach the customers properly. How the internal and external factors influence on the business strategies, how to set a positioning map, how to analyse competitors etc. have been discussed in this assignment. Contents Principles of Marketing 1 Executive Summery 2 Introduction 4 P1 Explaining the various elements of the marketing process using the key elements from the case 5 P2 Evaluating the benefits and costs of a marketing orientation. 7 P3 Macro and micro environmental factors which influence marketing decisions 8 P4 Proposing segmentation criteria to be used for products in different markets 9 P5 A targeting strategy for a selected product/service. 10 P6 Demonstrating how buyer behaviour affects marketing activities in different buying situations. You may draw your answers from the factors identified in case above. 12 P7 Proposing new positioning for a selected product/service. 13 P8 Explaining how products are developed to sustain competitive advantage 15 P9 Explaining how distribution is arranged to provide customer convenience 16 P10 Explaining how prices are set to reflects an organization’s objectives and market conditions. 17
  • 2. P11 Illustrating how promotional activity is integrated to achieve marketing objectives using the Motorola case or any other organization 18 P12 Analysing the additional elements of the extended marketing mix. 19 P13 Plan marketing mixes for two different segments in consumer market 20 P14 Illustrating differences in marketing products and services to businesses rather than consumers. 20 P15 Show how and why international marketing differs from domestic marketing. 22 Conclusion 23 References & Bibliography: 23 Introduction All the marketing plans and the strategies are decided to reach the customers and the make the expected profit. Marketing principles are the key points what effectively help in deciding the marketing plans and strategies. The market is influenced by many macro & micro factors which have a great impact on the changes of customer choices and needs. Concentrated marketing on customers classifies the market to reach the only customers who are the actual consumer of the products and services. It is very important to set an effective marketing plan to plan for providing the products to the end consumers according to the place, price and the promotional activities are also to be done for continuing the business by satisfying thee customers’ needs and demands. P1 Explaining the various elements of the marketing process using the key elements from the case The marketing mix is a tool which is used in businesses to help for the determination of a product or brands offering. E. Jerome McCarthy’s the 4 P’s have been associated with the marketing mix since 1960. The 4 P’s marketing strategy is given below: a) Product: The product should satisfy the demand & need of the customer. b) Place: The product should be available mostly convenient for the consumer. c) Price: Price should be set in a moderate rate through an adjustment between the customer and the seller. d) Promotion: The business firm should promote the business through advertising, developing public relation, sales promotion. The extended of 7 P’s:
  • 3. e) People: People are so much important part of business. Having the right people is essential for the product or offered service. f) Processes: The delivery of the service which is done with the customer present also the part of what the consumer pays for. g) Physical evidence: All the services including some physical elements even though their customers are paying for are intangible. The 7 P’s are widely taught from 1980 due to the fundamental logic in the marketing environment and also the marketer abilities. Three alternatives are available for adopting a marketing orientation. These are: a) Sales orientation: The main problem of some businesses is to face difficulties in selling product which are already available to them. A sale oriented business pays little attention to customer needs and wants even not trying hard to create suitable product or services. b) Production orientation: Making as many units as possible is the main concern for the production oriented business. The needs of the consumers are compared secondly to increase output. c) Product orientation: Actually it is quite obscure to define it from production oriented business. Considering a business which is obsessed with its own product might be even more arrogant. Whatever, failing to consider technological changes might be the cause of losing ground to competitors. Marketing can be defined as a strategic philosophy by assessing and meeting the needs of the customers with so many complex and multifaceted activities (Author, P. 2014). The various elements of marketing process are described below: A) Understanding the customer needs: At first there needs to understand the customer's choice, needs, demands. By getting idea from the preference of the customer, the marketing strategy should be pointed according it (Indeed, W. 2015).In Micky- Mouse Plc. case, the holistic approach of this organisation was to determining the demands what the customer want today. B) Segmenting the market: In the next the market is to be segmented according to the class size, market position.In Micky- Mouse Plc. case, we also see the segmented market to reach the customer properly. C) Analysing the competitors: Competitor analysis provides the firm to find out the weakness of the competitors to set the marketing strategies according to the way (Papers, W. 2013). D) Researching the market distribution: The products and services is to be reached to the end consumers through research.Micky- Mouse plc. also focused a lot on market research.
  • 4. E) Designing a customer driven marketing mix strategy: The marketing strategy should be designed for the customers (Hearsh, N. 2009). F) Analysing the financial condition: The business firm must analyse the financial condition before starting the implementation of any marketing decision.The cost effectiveness and the economic condition were also evaluated by Micky mouse Plc. G) Capturing values from customers thorough reviewing and revising: The business firm or the company should review and revise the marketing strategy for taking the further marketing decision more effectively (South, W. 2010). P2 Evaluating the benefits and costs of a marketing orientation. A marketing orientation helps a company to have a strategic focus on understanding and advances of the marketing concept (Hearsh, N. 2009). Customer centric alignment: All the marketing strategies are aligned as according to customer centric. It helps in decision making level properly what we noticed in Mickey Mouse Plc. case. Competitive advantages: Through marketing orientation, the strengths and weakness of the competitors can be identified what we noticed in Mickey Mouse case too (South, W. 2010). Less productive differentiation: The product differentiation decreases by orienting the market. Costs: Significant costs come to happen in a strong market orientation. In order to respond properly and accurately companies need strong market intelligence (Papers, W. 2013). Thus the investment in researching the market rises to high. Technological infrastructure is also important for using the databases to gather, analyse and proper usage of customer data. To modify constantly, it requires investment in ongoing training. The industries whose are experiencing lower growth and higher competition may provide abysmal return on the investments of market orientation (SayLor, F. 2015).We find the similarities in Mickey Mouse Plc. case. P3 Macro and micro environmental factors which influence marketing decisions Marketing environments can be classified micro and macro categories having a great influence over the decisions made for a strategic marketing strategic (Indeed, W. 2015).Mickey-Mouse would also focus on the demographic characteristics of their various customers aimed at understanding better the buying patterns and behaviours influenced by economic and socio- cultural factors across time as well as using new loyalty card scheme as current technology dictates. Micro environmental factors A) The suppliers: The suppliers' condition of the same product or service impacts a lot over the business activities (Forbes, M. 2013).
  • 5. B) The resellers: The trend of the resellers for purchasing and selling of the goods has also an influence on the marketing decision. C) The customers: The responses from the customers also change the marketing decisions. D) The competitors: The competitors in the market, their strengths & weaknesses etc. also impact the planning and business environment. E) The general Public: The psychological belief of the general public over the business firm and on the product or the service influences the business (Hearsh, N. 2009). Macro environmental factors A) Demographic trend: Race, religion, location, age etc. have a great impact on the whole market. B) Economic factors: Financial conditions, inflation rate, employment rate etc. also influence the market to a great extent (SayLor, F. 2015). C) Natural forces: The climate, geological position, soil, rainfall, seasonal variations etc. actively influence the market. D) Technological factors: The new and newer forms of technologies are inventing and coming in the market with the passage of time. This technological changes impact the business. E) Political and legal forces: Political condition impacts on the business activities. Legal forces, moderate political situation etc. impact the business (Quirks, A. 2012). F) Cultural impact: Culture is varied from country to country, society to Society. The cultural differences make a difference in a customer's demand, choice and product selection. P4 Proposing segmentation criteria to be used for products in different markets Market segmentation is the division into closely distinct groups of consumers. It might be targeted for different products and thus it requires different marketing efforts (Author, P. 2014). Selection of criteria is the first step in carrying out the segmentation. Company divides the market into different groups through segmentation (Papers, W. 2013).The focus would involve appraisal of various segments where Mickey Mouse Plc. currently operates. They are currently using more product differentiation in their existing product markets. According to gender, age, family life cycle, occupation, education, ethnicity, income, market can be segmented into demographic, geography, psychographic and behavioural division. Geographical segmentation: The spilt of market among different factors like area, density, city size, region etc. are under this type of segmentation. Due to the geographical segmented position, UK has more Diesel stores than those of Japan (Forbes, M. 2013).
  • 6. Substantial: Psychographic segmentation: It is based on attitudes, interests, values and personality traits or lifestyle. Accessible: Demographic segmentation: This segmentation is based on such variables like gender, family size, age, income, religion. Reaction of the customers to an oriented product is influenced by the demographic variables. Diesel specially produce products their products for the early aged people and old aged people (Hearsh, N. 2009). Distinguishable: Feasible: Behavioural segmentation: divides the market based on the behavioural response from the population, how much people use or know about a product. In marketing management, consumer behaviour is a deeply studied context (South, W. 2010). P5 A targeting strategy for a selectedproduct/service. There needs to follow the market targeting strategies after the segmentation of the market into different classes and groups (SayLor, F. 2015). The targeting strategies can be classified into three categories. For Mickey- Mouse as a multi-product/service organisation, the success will depend on the ability to meet the needs of the customers. They can do it through offering the right product/service at the right price as well as the place using appropriate promotional strategy. The targeting strategies can be classified into three categories. These are explained below: A) Undifferentiated marketing or mass marketing: The market is thought as one group without any individual segment. For the business or product facing lower competition, this strategy is mostly suitable as this strategy means for the production of one product for the whole market. There is no need to market research in this Type of strategy (Hearsh, N. 2009). For the largest segment of the market, firms usually use undifferentiated marketing for the creation of a product design. B) Differentiated marketing or targeted marketing: This strategy is opposite to the differentiated marketing. The company decides for each individual proposal and acts on different market segments in this case. At present, differentiated marketing practice is used by increasing number of firms (Quirks, A. 2012). C) Concentrated target marketing: A particular market niche selection is focused by this approach. While focusing on a single segment, the company can easily concentrate on understanding the wants and needs of particular market intimately (Indeed, W. 2015).
  • 7. Concentrated marketing basically followed by the small business firms as focusing on single segment which fuels them to compete against the larger firms effectively. For Mcdonald, the targeting marketing strategies can be varied like that: a) Kids: The kids and the product they are offering to them are focused by the strategy. This strategy is the first targeting strategy of involving young kids between the age of three to seven. In order to gain more market, they offer THE HAPPY MEAL which comes with chips, a burger and a soda. But the strategy is to provide a toy with the food items. McDonalds also install playground in some of their restaurants so kids after eating can go there. b) Teens and students: Those who want to have some tasty food with friends on a relaxing time after school, college or university and just have a chill chat, McDonald offers it’s the McCofe and McDonald breakfast to the students who are in a rush. Students just need to show their ID to get a discount from McDonald. P6 Demonstrating how buyer behaviour affects marketing activities in different buying situations. You may draw your answers from the factors identified in case above. If the products can be created for the customer wants, the products will influence the buyer. But there are some factors what actively effect the buying situations what we also noticed in Motorola case. According to Jim Riley (2012) "Research suggests that customers go through active stage decision making process in any purchase (South, W. 2010). These are explained below: A) At the first stage, a customer identifies a problem or need. It can also be responds to a marketing stimulus like while passing a bakery or getting attracted by the aroma of breads and cakes (Author, P. 2014). B) Searching information is the next stage which affects marketing activities. At this stage, a customer starts to find out more information about the service or product. The customers start gathering information and reviews. There are many wages to gather information. Public sources: Friends, neighbours etc. Commercial sources: Retailers, dealers, POS displays, packaging, sales people etc. Personal sources: different public media like TV, newspaper, radio and specialist magazines. Experimental sources: examining, using the product (Papers, W. 2013). C) In the third stage a customer evaluates the alternatives. In this way, customers make a comparison between alternative brands, goods or services.
  • 8. D) I purchase decision step, a customer stop choosing and also stop the comparison of goods (services), manufacturers. Finally the customer purchases the product (Sales, L. 2011). E) At the last step which is post purchasing evaluation, the customer asses their choices. These assessment can be implicitly & explicitly both. The action of buyers for the demand of goods and services, consumer preferences, consumption etc. is characterized and influenced by the buyer and consumer behaviour (SayLor, F. 2015). In Motorola case, the attractive design, exceptional qualities etc. are also influential enough. Customer behaviour can be divided into these three groups: A) Habitual: These customers usually buy the same products from the same store in the same way. B) Variety seeking: This type of consumers often switches brands according their own evaluation. C) Dissonance reducing: This type of customers is aware enough about their needs. They have knowledge enough about services and products. They are in search of finding out the same product at a lowest range of price (Forbes, M. 2013). They always find out products cheap in price but highly in quality. Brand is ignored by these customers. P7 Proposing new positioning for a selectedproduct/service. Positioning denotes the owning of a piece of customer's mind. Actually it is not that the product does. It is what a customer does to the mind of respect (Author, P. 2014). Thus positioning is the set of measures by which the targeted customer's mind in their product has a definite place in relation to other same type products.From Motorola Case, many people like to buy phones from independent retailers such as Car phone Warehouse. These can offer a variety of different phones. They also can suggest the one that is best suited to the customer needs through determining the positioning. The company RS Rocket Skates Inc. follows easy current positioning strategy. So look on the aspect as a marketing person, company needs to change its strategy to confirm position in the market in Vietnam. There are two major product lines. RS company can assert own position in the market through price, product and quality of the product. RS company segmented the product in both the mid range segment and luxury segment. The quality and the price of luxury products are high in price. The mid range segmented product costs lower than the luxury products. The RS Company can fully assert own position on the Vietnam market from the provision of adequate information combined with the suitable marketing. For the company’s products, this approach can make a difference. For the RS Company, that is the best positioning strategy. A positioning strategy can be classified into three steps. First one is to reveal the possible competitive advantages in order to create a positioning. Second one is to select the proper
  • 9. competitive advantages and the last one is to select a comprehensive positioning strategy. For the selected position, effective communication and distribution should be provided by the company (Hearsh, N. 2009). But the positioning should not be arbitrary. The new positioning should be decided before starting production. The product is to be designed with a planned position in mind. The LG brand positioned at the higher end of segmentation. It competes with so many brands in the market. P8 Explaining how products are developed to sustain competitive advantage Due to the rapid progressive change in technology, trends and new state of competition, any firm or company can't rely on only the currently existing products.From the Motorola case, the company meets the completion through developing the products quality and also developing the promotional activities. Promotion includes all of the techniques that a company uses to communicate with other individuals and organisations. Communications are done through Motorola and consumers receive them. An important avenue for communication is advertising. Consumers are in search of new and improved products. The competitors in the market always try their utmost to provide goods with newer form of innovations (Papers, W. 2013). To ensure the proper implementation of plan, every company must have a program to develop the new products. Marketing strategy and development: At product development trend to happen in different stages. These stages depend on the company. The most important stages are described below: A) Idea generation: After the search for new products, the development of a new product is begun (SayLor, F. 2015). A clear strategy should be created for the development of new products. SWOT research can provide a lot for generating an idea in a positive way. B) Development of concept and testing: The generated idea needs to be taken to the target audience. At this step, price, distribution, promotion, place are being determined according to the strategies. The company must select strategy which attracts the customers more than the competitors (Sales, L. 2011). C) Test marketing: At this stage, the product is primarily launched in small area for testing the market. D) Product commercialization: The product is finally selected for commercial purpose in the market to among the customers (Indeed, W. 2015). How, when and where the products will be distributed is defined at this stage. P9 Explaining how distribution is arranged to provide customer convenience There are several ways in which businesses organise distribution to provide customer convenience. Based on what sort of business is being operated, the methods used may slightly vary. For example, for e-commerce business, there are different techniques than the real world
  • 10. business. Different techniques of different real world businesses are dependent on the size of the business and where they may be dealing with customers. For e-commerce business, Amazon.com is a great example. To make things more convenient for customers, how distribution can be arranged easily understood from the website. Amazon mostly offer free shipping charges for items that are advertised through them. They can do it as they have so many distributions centre located all over places. Next, there are stores from where one can easily walk to them and place order from their display inventory. The item is then sent to the customer from a local distribution centre that is found in another part of the city. This method allows cutting down the transportation costs as the items doesn’t need to be shipped in large quantities towards the customers. The company saves from the transportation cost, warehousing, labour and other costs translate to savings in final prices for customers. They also usually mean that fulfilment processes are more reliable as well as the network for handling the distribution is not complex and prone to problems of challenges. The products and services of a company must be promoted to all members of the channel. Now- a-days, online distribution is so much popular. It doesn't need to spend money on heating, resting, lighting and others (Quirks, A. 2012). P10 Explaining how prices are set to reflects an organization’s objectives and market conditions. The amount of money which is paid by the buyers for goods or services is defined as price (Author, P. 2014). The core element of the marketing mix is pricing. It creates sales revenue while all the others are costs. For companies like Motorola, price is a key element in the marketing mix for the Motorola Company. Price is the monetary expression of value of goods, services and products (Forbes, M. 2013). Price is an important marketing tool. The reasons are given below: A) The sales are affected greatly by the price. B) Price changing without having any other marketing components has the fastest effect. C) A potential customer reacts fast to the changes in price rather than changes to the products or services. Pricing of good or service can be put differently. The pricing strategy varies due to the objectives of the company, fixed and variable costs, competition in a similitude section (SayLor, F. 2015).'Getting the price right' is a vital part for Motorola company of building relationships with customers. A marketer needs to follow these steps in setting price: a) Examining company and marketing objectives: At the very beginning, a marketer needs to examine the market and also defining well the marketing objectives.
  • 11. b) Determining an initial price: From examining the company and the marketing objectives, it requires to determine an estimated price. c) Setting standard price adjustments: After doing that, the marketer should set a standard price for the product or provided service. d) Determining promotional pricing: For the promotion of the business, the marketer needs to market research and also do something for the adjustments. e) Stating payment options: Finally the marketer has to set the payment method from the customers for providing the service or any product. The payment option should be convenient for the customer. These factors need to be considered while setting the price for the products or services: a) Costs: Businesses are bound to set price more than what they spend for it. The cost of the product for the end consumers should be according to their income. Any price setting lack of market research is enough to discrease the market. b) Competing products: The competing products of the same product and service should be kept in research. Any development of competing product can have bad influence over company product. c) Consumer demand: The market demand of the product should be considered properly by the marketer. d) Product positioning: The product which is going to be satisfied the customer needs should be positioned according to the macro and micro factors. P11 Illustrating how promotional activity is integrated to achieve marketing objectives using the Motorola case or any other organization In attracting customer interest and persuading customers to buy company product over competitors, promotional activities are crucial. For the Motorola Company, advertising is an important avenue and they refer it as 'above the line' promotion. Others and discounts are referred to as being 'below the line'. These are explained below: A) Consistency: For building up a brand, persuading the customers, there needs to present consistent messages. The messages must consistently depict the core benefits like product quality or service (Papers, W. 2013). The Motorola Company should maintain the consistency in the business activities. B) Sales promotion: In promotional integration, the Motorola Company can offer a coupon with the products to raise the interest of the customers towards the products.
  • 12. C) Advertising: It needs to consider reaching the target market in developing a promotional plan. The Motorola Company should increase its advertising activities for attracting the customers. This will increase the demand of Motorola products. D) Repetition: Each targeted customer along with reach should come again to get the product or service again (Indeed, W. 2015). The Motorola Company should maintain consistency and repetition in nice business performance. E) Public Relations: The Motorola Company can promote the business through developing teh platform with public relationship. For example, the Motorola can advertise the upcoming selling through sharing a profit in a charity fund. P12 Analysing the additional elements of the extended marketing mix. Marketing mix is a system, a set of tactical marketing tool through which the company implement the marketing strategy (Quirks, A. 2012). The four main components which make the marketing mix are price, place, promotion, and product. There are additional three 'P' described below: • People: In the provisions of services, all the people are involved directly or indirectly. • Process: Mechanism of actions, procedures, working operations that make up the essence of services is a significant element of the marketing strategy. • Physical evidence: Environment can be an example in which services are provided. Material things help promote and provide services. 4P is being replaced gradually by 7P by extended marketing as it corresponds better features of services (Hearsh, N. 2009). P13 Plan marketing mixes for two different segments in consumer market Marketing is the group to everyone is exposed to the marketing daily even when they do not know it and billboards enclosed the nation (Forbes, M. 2013). The marketing is a concept that it is developing the new marketing. They are also known as four “P’s”. The important for an association to have a good understanding and every element is main developing a marketing plan. In the marketing mix there are four elements that build up the marketing process. Marketing mixes are vital in marketing a product. Sony sound system is popular among the customers though satisfying the customers need and demand. Process: it is the meaning of achieving the outcome. How the products or services will go in order to reach a specific person or particular destination. Process can be for how a person buys an ipod. A customer needs to go a particular website, then enter the specifications and finally purchase it by providing delivery details.
  • 13. Physical evidence: The physical evidence of a product is the total product itself. There should be physical evidence to identify a product for packaging, structure of the organization. It helps to determine the products better from the other similitude products in the market. So it is so important to differentiate the product from the competitors. For example, there are so many types of ipod are available in the market like Sony, Sharp, Panasonic etc.. So it’s important to differentiate the products from the competitors. P14 Illustrating differences in marketing products and services to businesses rather than consumers. Two consumer market which are UK market and India market for the mobile phone as a product are discussed below: Product: The product which is going to be served the customers is crucial. For mobile, the business strategies will be varied from the UK market to India market. For Uk people, they expects many features in mobile phone while the people of India don’t know so much about it. Price: Price is very crucial factor for attracting the customers. But all the customers are not the same. The users of mobile phone of UK are value based customers while the users from India are cost based customers. So price plays an important role in capturing the attraction of the customers. Place: After determining the price, the products need to deliver to the customers. Uk is more developed than the India. An UK customer will seek an easier way for getting the product which can be like home delivery of the product. COD (Cash on delivery) system will be surely more popular for the customers from India due the market place determination and customer choice. Promotion: For the promotion of the business, the marketing strategy can be quite different in India than that of UK. The UK people are more used to internet than those of India. So, for advertising of the product, the marketing strategy should be focused on online based for the UK customers. For the customers from India, it needs to focus on television media for the advertisement in the local market. There are some major differences exist between the basic principles of marketing products for business and consumer (Hearsh, N. 2009). These are also noticed in Kensington case. These are explained below: Purchase: In contrast to the ordinary consumer, businessmen do not buy goods sell at retail purchases. They buy large is number like dozens, hundreds or thousands of units. But the seller must continue the buyer that product is really necessary for his business in order to purchase took place. Risks: There are two types of buyer; one is businessman and another is customer. The businessmen take higher risks than the customers. All the uncertain risks are carried by the businessmen (Papers, W. 2013).
  • 14. More technically complex products: There are not like bricks, screws or nails which can be sold hundreds of tons without special promotion. More technically complex products denote the all complex products that require business like construction machinery, sophisticated communications equipment, machinery tools, with numeral control (SayLor, F. 2015). Payment: Business to business (B2B) transactions requires an increasing complex business system. In general customer selection, products are sold. Then place an order and arrange the delivery through an agreed logistics channel. At the time of order customers don't pay, but receive an invoice which they settle within agreed Payment term. In B2B, price may vary by customer. Payment mechanism also differs (Forbes, M. 2013). P15 Show how and why international marketing differs from domestic marketing. Although having the same goals, domestic marketing and international marketing differs. Increasing the sale, profit and revenue are the same for both goals. Due to global financial crises and sets of logistics constraints sales are slowing down of Kensington case. The company is facing in its new China operations as it is difficult due to language and other social-cultural factors which the group’s new operation is currently confronting. Also, complex exporting regulations make it difficult for consigned auto parts to go through custom checks in China.Domestic marketing are the marketing strategies to attract and influence customers within the political boundaries of a country (Hearsh, N. 2009). The gleaming dissimilarity between the two: Scope: The international marketing has endless opportunities and scopes which are limited and will eventually dry up in domestic marketing. Benefits: International marketing benefits are higher than the domestic market. Sharing of technology: Domestic marketing is limited in the use of modern technology whereas international marketing provides the greater use and sharing of latest technologies (Author, P. 2014). Political relations: In domestic marketing, there is almost nothing to do on political turmoil whereas international marketing leads to improvement between countries in good political relation and also increased level of cooperation as a result. Barriers: Although domestic marketing do not face so much barriers, international marketing face many barriers like cross cultural differences, language, traditions, ethnicity and customs (Papers, W. 2013).
  • 15. Conclusion The future is always uncertain. All the marketing plans and strategies should be taken with having an adjustment with the uncertain future. Marketing authorities are done for selling to satisfy the needs of people. The marketing activities refer to channelling the gap between service and product providers to service and product serves which is also known as a way of satisfying need. A new product may fail for many reasons. But by segmenting the market to the targeted customers, set a positioning map, reviewing the activities etc. ensures a better future. References & Bibliography: Author, P. (2014). Marketing Tutorial. Available: http://www.knowthis.com/principles-of- marketing-tutorials. Last accessed 10th Jan 2015. Drews, S. (2010). The Role of Strategy Directors in the Current Economic Environment. GRIN Verlag. Forbes, M. (2013). Forbes. Last accessed 12th Jan 2015. Hearsh, N. (2009). Examples of marketing research Problems. Available: http://smallbusiness.chron.com/examples-marketing-research-problems-23051.html. Last accessed 12th Jan 2015. Indeed, W. (2015). Marketing Manager. Available: http://www.indeed.com/q-Marketing- Manager-l-Skull-Valley,-AZ-jobs.html. Last accessed 10th jan 2015. Larson, R. (2008). Starbucks a Strategic Analysis. Past Decisions and Future Options. Papers, W. (2013). Marketing Research. Last accessed 11th Jan 2015. Porter, M. (2008) The five competitive forces that shape strategy. Harvard business review, 86(1), 25-40. Quirks, A. (2012). Marketing Issues. Last accessed 11th Jan 2015. Sales, L. (2011). Marketing Topics. Available: http://www.sales-lead- experts.com/speaking/topics/. Last accessed 11th Jan 2015. SayLor, F. (2015). preliminary Info. Available: http://www.saylor.org/courses/bus203/. Last accessed 12th Jan 2015. South, W. (2010). Marketing Research. Last accessed 12th Jan 2015.