Marketing Principles and Techniques Assignment _Sports Direct (GC0303)
Marketing Principles and Techniques
Executive Summary
The research is based on the efficiency of marketing policies and strategies of small business organizations such as Sports Direct. The method by which a business may be able to sell its products to customers is known as marketing. This paper is beneficial in giving appropriate and efficient solutions for the delivery of the festivals according to current market conditions. Marketing policies and strategies are two integral parts of a business organization that provide information on how to quickly accept new marketing strategies. E-Marketing is an effective way to sponsor global business activity. In addition, a good marketing policy helps Sports Direct to ensure good maintaining its brand value.
Table of Contents
Introduction.
Task 1: Marketing.
Diverse activities related to the marketing of business organizations.
Market segmentation in identifying the customers.
Marketing Mix.
Task 2: Market Research.
Market research and Market analysis.
Market research methods.
Market analysis techniques and tools.
Task 3: E-Marketing.
Methods used in e-marketing.
Manage the online image and brand value.
Task 4: Learning outcomes.
Market analysis techniques.
Interpret the findings.
Presentation of marketing strategy in the marketing team.
Conclusion.
References.
Introduction
The research is based on the efficiency of marketing policies and strategies of small business organizations such as Sports Direct. The method by which a business may be able to sell its products to customers is known as marketing. This paper is beneficial in giving appropriate and efficient solutions for the delivery of the festivals according to current market conditions. Marketing policies and strategies are two integral parts of a business organization that provide information on how to quickly accept new marketing strategies. E-Marketing is an effective way to sponsor global business activity. In addition, a good marketing policy helps Sports Direct to ensure good maintaining its brand value.
Task 1: Marketing
Diverse activities related to the marketing of business organizations
Marketing
Marketing process; with its help, a business organization is able to supply its products to the public and thereby fulfill customer service satisfaction (Challagalla et al. 2014, p.12). The marketing process involves the following process in order to meet marketing strategies:
Market opportunities: Current trends in the current market, with the existing market analysis, the need to engage with the Sports Direct, evaluate the current resources and skills. Furthermore, business organizations should analyze the role of external and internal factors related to the marketing policy.
Target marketing: It is one of the important parts of the Sports Direct perspective, it gives clear ideas about customers and provides their requirements related to services and products. Marketing policies help in various types of identification with different aspects and therefore provide quality products to the customers.
Marketing strategy: Sports Direct must be adopted on the basis of marketing and market opportunities, where they endorse their greeting cards through social networking sites. Marketing strategies give different features of marketing progress and goods improvement.
Marketing activity with example
Promotional activity
A business organization can sponsor its latest product by using this process. A business organization can sponsor its products and services through several means, by advertising in newspaper, television, and the Internet, especially on social networking sites (Nowak et al. 2015, p.4209). For instance, Lenovo has launched its last phone using the e-commerce website Amazon in Asian countries. The online portal is very much involved in the purchase of products and Amazon is a big giant in the online retail business.
Social media
Social media has played an important role in marketing strategy recently. Social media marketing promotes brand value as well as useful for recent product ads. For example, MI collaborated with Pinterest to sponsor new fixtures related to mobile phones.
Market segmentation in identifying the customers
Tool using in market segmentation
According to Crane et al (2014, p.33), Segmentation plays an important role in helping to make a marketing message with the help of Sports Direct, for example, adjusting prices or propaganda, appealing to buy a solution with the interests, problems, and needs of each group its company provides.
Cluster Analysis
According to Frenz (2017), cluster analysis shows the information gathered about consumers to identify market segments that they can market. For using the cluster analysis, Sports Direct should identify the characteristics and demographics of its target market. Sports Direct then insert variables into a cluster analysis software program.
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Segmentation Trees
According to Frenz (2017), if the information about Sports Direct is not available, then it is not possible to find marketing purposes for them, but a segmentation tree comes easily. Similar to a family tree, a segmentation tree starts with the name of its product or service at the top of the tree. Then Sports Direct started to break its prospective market within the branches.
ZIP Code Research
According to Frenz (2017), receiving demographic information by reviewing ZIP codes if Sports Direct wants to acquire a general feeling of family or business in a specific area, then it works. Many companies provide free online zip code lookup programs that provide different types of information for a ZIP code Sports Direct and the total population living in ZIP code, also middle age and income.
Lifestyle Segmentation
The argument behind the lifestyle segmentation tools of understanding its customer’s lifestyle. The tools provide Sports Direct with information from millions of families, including information on the shopping, technology, and financial information of their expectations. Sports Direct focuses on potential customers of online and traditional types of media.
STP Model
The STP model has three steps that the proposal of Sports Direct analyses and manages the way to contact its benefits and pricing for specific groups……………..
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