Understanding of marketing concept is required to create consumer trust and loyalty. For this different types of techniques and tools and techniques of marketing facilitate Honey Jam to ensure continuous growth and long term development.
- Underline concept of marketing along with various forms of activities covered in this.
- Determine techniques as well as tools of marketing.
- Evaluate e-marketing modes to manage online image of Honey Jam.
- Identify target market with the help of market analysis techniques.
Marketing is one of the important sector which helps in promoting sales of company. Due to change in business related factors business environment has to make alterations in their plans and policies. Marketing is department which deals with customer to know their demands and then take actions to upgrade growth of company (Lee and Hoffman, 2014). It is essential that manger has to work as per business environment, so they can compete with external factors of society. This report is based on Honey Jam which is toy retail store. In this report there is discussion about market, its concept, marketing mix, e-,marketing, tools of market research.
TASK 1 What is Marketing
marketing is the department which helps too improve image of company in effective and efficient way. There are possibilities that when company is expanding their business, then this has to be known to society. So this is performed by marketing department. It is necessary that organisation has to give emphasise on change in demand of customer, this can b e analysed by marketing managers through various techniques.
ACTIVITIES PERFORMED BY MARKETING DEPARTMENTS
Apart from marketing job there are various activities which has to be performed by marketing manager, which is important for growth and development of business. There are various departments in business, which work to achieve targets of association. Some activities apart from marketing performed by managers of Honey Jam are as under-
Innovation- There is requirement of various changes which has to be undertaken by managers to make competent to other factors. There are possibilities that association has to perform innovation so they can competent to satisfy demand of society.
Customer interaction- Customer is the main component which makes association to work as per need of company. It is essential that marketing manager has to contact with customers to know their requirements (Gray, Peltier and Schibrowsky, 2012).
Purchase- There is requirement of various raw material and other substances to make use it in business operations. Toys has to be purchased from wholesaler for the purpose of resale, in this case marketing department has to work for business growth.
Segmentation means to make difference among group of customer. Through segmentation, demands can be satisfied in effective way. It is important to now what can be done through which they can perform business activities in efficient and effective way. Honey Jam has various basis on which they bifurcate their customers-
Income- This is the main cause of dividing customer in division. It is important ton know what has to be done through which association can make their customers satisfied. It helps in making customers satisfied and then give appropriate product to customer (Amaral, 2013).
Gender-Toys are basically for children. There is difference in demand of boy and girl child, so it is necessary to show product which are effective as gender. Robots, cars, trucks, etc. is preferred by boys. At the same time teddy bears, dolls, etc. are preferable.
Age- This is also effective factors which help to divide children. There are possibilities that due to change in demand of customer. As child grows there demand for toys also differs, so while knowing age of child manager can provide appropriate product (Biroscak and et. al., 2014).
Marketing mix is one of the effective technique which has to be used by m,angers to know what has to be done through which organisation can display their product in more effective and efficient way.