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Understand Concept of Marketing

University: Regent College of London

  • Unit No: 3
  • Level: Diploma
  • Pages: 8
  • Words: 2000
  • Paper Type: Assignment
  • Course Code:

    R/508/0553

  • Country: UK
  • Downloads: 55
Question :

This unit states you work in small family owned business and they are not aware about development of the market share thus concept of marketing had to be analyzed in order to gather information

  • Explain the concept of marketing used by organization
  • Conduct market research to find out customer demand and activities operating at market place.
  • Give brief introduction about E Marketing and methods used by organization to E Market their goods & services.
Answer :

INTRODUCTION

Marketing is among the most important device that can be utilized by the association for enhancing deals and income of a firm. There is a solid prerequisite to have a viable marketing instrument with intention to improve the products of a company in a viable way. Despite the fact that, this can be properly said that various authors have made a powerful procedure which can be utilized by the association for interpreting the marketing in a different manner (Vargas-Hernández, 2012). Maybe a couple of them conceives that marketing is a solid device which connects to the satisfaction of business activities for distinguishing various plans, settle values, publicizing of products and services, advancements and distributes in a powerful way. While, on the other hand, few thinks that marketing is a sort of business instrument that stress on upgrading expectations for everyday comforts of the general public. Different authors appropriately said that marketing is a sort of method that upgrade on enhancing items values in a viable way. This report moreover investigate about standards and tools of marketing and significance of E-marketing and various fundamental devices of marketing. This research is made on the market investigating of the Cadbury chocolates company which emphasis on the marketing of the product.

TASK 1

1.1: What is Marketing and different marketing activities

Marketing: This is a process which helps an organizations in using organization actions henceforth they could plan activities linked to offering of products like pricing, advertisements of products and services and promoting them in this manner in which they are willing to offer final consumers. Here are diverse specialists in the industry which elaborates marketing as the process of communicating features, price and other details about the goods which are willing to offer and likewise form value of the goods in the minds of the ultimate consumers. Marketing process is essential to gain consumer base and attain the market share in comparison to the diverse competitors. While organization retains higher consumers which enhances the revenue of the organization in turn advantages shareholders biased concept and implemented for the satisfactions of the consumers henceforth, organization could attain the concerned objectives of the firm.

Marketing segmentation: This is completed on two basis, firstly, this can be rightly said that the geographical domain of the country and secondly, via demographic components like age, income, occupation, attitude, education others. While on the other hand, in geographical segmentation is concerned, organizations segregated organizations divide their operations into the diverse subsidiary units of the organization that could operates in diverse locations and they are required to produce goods and services as per the culture of that specific area. Demographic segmentation adopted those factors like age groups along with impression which same age group people would have same pattern for enhancing their revenue, similar taste preferences and so on. Marketing segmentation is performed by the firms for exploring new and advanced segments which are introduced in the economy and targeting them as per their requirements and preferences.

Applications of marketing mix: Holiday season and likewise new year's and Christmas is reaching, henceforth for meeting needs of the consumers of chocolates. The cited organization must introduce their product along with renewed vital and enhancing consumer base. Objectives and aims of the plan comprises increment the loyal consumers in the organization and henceforth enhancing sales. Targeting consumer base in offering this goods is within the age group of 5 to 15. environmental components like macro and micro must need to assessed in convening marketing research for elaborating components which are connected to the strengths, weaknesses, opportunities and threats (Sarea and Hanefah, 2013). Likewise, the organization, must adopt enhancing amount of inflation in the area where the organization is operating. There is a reduction in the sales of the product as of the people are aware about their health among the consumers. Organization might face cut throat competition from diverse organization in the market and fro whole these backdrops the organization is trying to adopt whole advantages form the forthcoming season by manufacturing of Cocoa for meeting the demand of the consumers. Organization would likewise have to adopt the enhancement prices of gases and specific regulations which are imposed by the government friendly manufacturing and henceforth likewise forcing business in investing higher in the security of the Eco-system. For example, marketing mix approach the organization must edit the packaging of chocolates in order to form it in more efficient manner and easy to peel, that could likewise reducing the cost of packaging by 10% and this likewise environment friendly.

TASK 2

2.1 Market research

Aims of the market research: This comprises whole activities like gathering, consuming and in last, assessment of the information which are linked to the selling of the goods and services for the targeted market. Researcher must need to assess whole past, present and future based contenders and consumers as well, for taking initiatives for sales of the product (Polman and Atwater, 2012). The marketing research is convened in mostly two manner:

Primary Research: This is the research method which is used by the researcher for the first time. As this is the time consuming process and researcher would need to have one to ine interaction from the diverse respondents in an effective manner. Observation, Interview, questionnaire are the tool which can be used by the researchers for making the decision. But this research method is the time consuming activity as this requires so much time for collecting the data.

Secondary research: This has already been published somewhere. Now this can be rightly said that the researcher use this already published data in an effective manner. Government departments have the data which can be used by the organization for making the decisions in an effective manner.

Market analysis: This market assessment deals in elaborating the diverse processes and norms of the organization, that must be adopted by the organization for attaining the best outcomes form the marketing practices (Phillips and Graeff, 2014). The assessment procedure normally adopted studying of the marketing flexibility and quality of the specific market that represents specific industry. Marketing assessment introduced with the Swot analysis.

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