Marketing Principles and Techniques_ Darussalam Limited(GC0329)
Table of Contents
Introduction.
Task 1.
What is marketing?.
Diverse activities carried out in marketing departments in other businesses.
Explain market segmentation as a tool to identify customers.
Explain the marketing mix and apply it to Darussalam Limited’s products.
Task 2.
Explain the aims of research and market analysis.
Describe market research methods. Give examples of methods that would be suitable for your own organization.
Outline market analysis tools and techniques that could be used.
Task 3.
Describe the methods used to e-market products and services.
Social Network.
RSS Feeds.
Pay Per Click Advertising.
Press Releases.
Explain how companies manage their online image.
Task 4.
Use market analysis techniques to research the target market for your own product or service.
Interpret the findings of your market research and market analysis.
Interpret the findings of Porter’s Five Forces Analysis.
Make recommendations to the marketing team based on your analysis.
Present your findings to the marketing team.
References.
Introduction
I have just finished my course and I have been working for a family runs a business, called Darussalam Limited. The company house registration number of this business is 04451476. There are three family members who control this business. Their names are Sana Ullah, Samee Ullah, Hafeez Wahid. The company sells books, clothing, attires, accessories, Islamic prayer essentials, children toys and books, CD/DVDs and some electronics. The products are mainly based on the need and purpose of religion Islam, and many British Muslims are able to buy their essentials from this company. The Registered office address is Flat 7 Stoney down House, Blackhorse Road, London, E17 6NJ where the business firm can be found.
Task 1
What is marketing?
There are many marketing definitions. The better definitions are focused upon market orientation and the satisfaction of customer needs. According to Thimmesch (2010), marketing is the social process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. This definition is based upon and a basic marketing exchange process and recognizes the importance of value to the customer. Another definition of marketing provided by Kotler and Armstrong (2017), marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return”. Kotler and Armstrong develop their original definition to recognize the importance of the longer-term relationship with the customer. This is achieved by relationship marketing and Customer Relationship Management (CRM).
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Diverse activities carried out in marketing departments in other businesses
Brand management: Brand management is one of the key activities of the marketing department of business (The Hartford, 2018). Marketing department applies different tools and techniques to increase brand awareness, brand perception, and brand image among the target and potential customers.
Campaign management: Marketing proactively identifies the products and services to focus on over the course of the sales cycle, and then produces materials and communications that get the word out.
Using marketing and promotional materials: Marketing department should create materials that describe and promote core products and/or services. They should be kept up-to-date as those products and services evolve (The Hartford, 2018).
Creating content for the website: Website is often the first (and possibly the only) place people go for information about the business. The marketing department will be responsible for keeping Web content current, while also working to ensure the website comes up quickly when someone searches for business.
Managing digital marketing: Marketing should contribute to, manage and maintain social media pages and other digital tools like mobile devices, emailing, etc (The Hartford, 2018). It should also manage accounts and carefully watch what’s being posted about business online.
Developing communications: A business’s employees need to understand its activities, its values, its goals and its priorities (The Hartford, 2018). Marketing is often responsible for employee communications through a newsletter and/or intranet
Conducting customer and market research: Research helps a business define target markets and opportunities and help a business understand how its products and services are perceived.
Overseeing outside vendors and agencies: Marketing is typically responsible for selecting and managing the agencies and vendors who produce marketing materials and or/provide marketing support (The Hartford, 2018). These may include ad agencies, print vendors, PR agencies or specialists, Web providers, etc.
Explain market segmentation as a tool to identify customers
Market segmentation is the practice of dividing customers into groups of potential buyers that have similar preferences and buying habits (Steven, 2017). As opposed to mass marketing, in which the company offers the same product to the market, in targeted marketing, a specific group of customers is the focus of marketing efforts. In other words, target marketing is matching marketing efforts to the needs of a specific market segment. Darussalam Limited typically does not have the means to target mass markets, nor can they afford to make costly mistakes in marketing. Managers of Darussalam Limited need to bear in mind market segmentation principles in their marketing efforts.
Psychographic factors: Psychographic factor means segmenting the consumer market in a number of factors such as personality, lifestyle, social status, characteristics of the consumer (MBA Skool, 2016). Darussalam Limited should measure the new generation to develop a marketing strategy.
Behavioural factors: As MBA Skool (2016) note, behavioural factor means segmenting the consumer market by depending on the consumers’ behaviours. Moreover, behavioural market segmentation is evaluated by the behaviour, sensitivity and loyalty of the consumers to increase the brand value. Darussalam Limited should promote its new products by focusing on the behaviours of the consumers.
There are different steps to market segmentation. The first step in market segmentation is to define the total market for the product. Purchasing patterns and needs are important factors to consider. Darussalam Limited should define the total market for its products………………
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