This unit reflect that you are working in a small business which is running by family and they are not aware about increase in market share so it is essential to identify marketing concept in order to develop information
- Provide explanation of the concept of marketing used by Nature essence.
- Carry out market research to know about customer demand and activities which are operating at market place.
- Give brief introduction about E Marketing and methods used by Nature essence to E Market their goods & services.
Marketing is a continuous process whose main objective is to promote organizational goods and image across the various marketplaces in order to gain maximum revenue. Basically, promotional tools are indispensable for company success and advanced technology such as; e-marketin9g (Graber and et. al., 2016). Although, small companies are unaware about the modern tools due to which they are encountering major issues like; losses henceforth. In the present report “Nature essence” is small cosmetic organization which is engaged in manufacturing beauty products at the marketplace. Thus, assignment is throwing lights on major elements such as; company is getting failed in attaining their organizational goals due to inappropriate knowledge about marketing strategies. Furthermore, various types of promotional tools are discussed in this project for running their business activities in much suitable manner.
TASK 1 Define Marketing
Cosmetic industry is growing in a fastest way due to maximization in consumer demand as it helps in enhancing the beauty of person. However, competition is increasing day by day due to maximization in income level by fulfilling the requirement of clients. Currently, company is involving in numerous of problems due to unaware about the advanced technology. Thus, nature essence needs to understand the meaning of marketing for promoting their goods or services across the regions. Marketing is all about expanding the business in order to generate maximum revenue by satisfying the customer needs or requirements in a given time frame. It helps an association in various manner by offering qualitative products to them. Along with this, impressive strategy of marketing is also beneficial for organizational success because it aids in various manner. For example; creating positive relations with consumers, maintain long term relations with them, maximize the sales volume by satisfying customer needs or requirements. At last, marketing scheme is suggesting Nature essence towards corrective path by analysing the choice or preferences of clients (McClements, 2015).
1.2 Market segmentation
Nature essence is trying to prevent their business from getting dissolved and heavy losses by taking correct measures in a minimum time frame. This is only possible if an enterprise is getting succeeded in understanding choice or preference of distinct type of customers. Demand of beauty products are increasing on regular basis because women’s of modern world are more conscious about their overall personality.
Types of marketing segmentation:
There are some common types of marketing segmentations present in the marketplace which can be used by Nature essence and these are given below:
This sort of segmentation is linked with age, gender, martial status, education, religion, language, income, and many more other things which can be targeted by a company in order to improve customer base. Nature essence's marketing manager can use this type of segmentation, because it carries many advantages like it is easy to recognise, data can easily be gathered and it can correlate among sales and efforts that has been made by Nature essence. For an example: Building up a product looking at the age 14-32 can come under this segmentation.