Unit 3.24 Marketing Principles and Techniques Assignment Solution(GC0300)

Executive Summary

Marketing principles and techniques for small companies(including peace Essentials) are mainly described by this assignment. Marketing is the art or science of making, delivering and discovering the values to fulfill the target market’s needs.  Moreover, marketing classifies the unsatisfied desires or needs of the customers. This is a very accommodating assignment which is providing proper clarifications for the small companies including the Peace Essentialsincurrentmarketplace scenario. Marketing principles and techniques are the significant features for the business organizations that mainly create appropriate information on the marketing policy. However, e-marketing is a very effective tool for marketing from small businesses including peace Essential’sperception to support business activities worldwide.  Additionally, marketing techniques and principles maintain the small business (including peace Essentials)to create the brand image and brand awareness.

Table of Contents

Introduction.

LO 1.

Task 1: Marketing (AC 1.1, 1.2, 1.3)

Diverse activities related to the marketing of business organizations.

Marketing.

Marketing activity with example.

Market segmentation in identifying the customers.

Tool using in market segmentation.

STP Model

Marketing Mix.

Role of the marketing mix.

Task 2: Market Research (AC 2.1, 2.2, 2.3)

Market research and Market analysis.

Market research methods.

Market analysis techniques and tools.

Task 3: E-Marketing (AC 4.1, 4.2)

Methods used in e-marketing.

Search engine marketing.

Figure 4: Search engine marketing.

Manage the online image and brand value.

Task 4: Learning outcomes (AC 3.1, 3.2, 3.3)

Market analysis techniques.

Interpret the findings.

Presentation of marketing strategy in the marketing team.

Recommendation.

Conclusion.

References.

 Introduction

As Kotler (2015) notes, marketing is the art or science of making, delivering and discovering the values to fulfill the target market’s needs.  Moreover, marketing classifies the unsatisfied desires or needs of the customers. Marketing principles and techniques for the small companies(including peace Essentials) are mainly described by this assignment. Peace Essentials is a small Islamic shop in the UK and it has a few numbers of employees in its organization. Principles and techniques of marketing provide the approach to customers on updated policy on the developments of products. Additionally, this assignment provides essential information to the research which is related to the organization namedPeace Essentials related. Finally, this assignment is providing appropriate solutions for peace Essentials on the marketplace’s current scenario.

LO 1

Task 1: Marketing (AC 1.1, 1.2, 1.3)

Diverse activities related to the marketing of business organizations

Marketing

Marketing is the art or science of making, delivering and discovering the values to fulfill the target market’s needs.  Moreover, marketing classifies the unsatisfied desires or needs of the customers (Kotler, 2015). A number of activities including target marketing, market opportunities and marketing strategy which are interconnected with the marketing of business organizations are explained as follows:

Market opportunities: As Investor Words (2016) notes, marketing opportunity includes the possibly satisfactory situation in that business organizations can give capital on the changing developments well as the developing demand the products by the demographic individual which has to be known by the competitors.

Target marketing: The target market is about advertising the business organizations which need to retail their services and products (Investopedia, 2016). Target marketing includes a set of targeted customers for whom it aims the efforts of marketing. It is essential to identify the target market for developing the plan of marketing.

Marketing strategy: According to marketing Donut (2017) notes, marketing strategy is the complete plan of business for targeting the people as well as trying to make them into the consumers of products and services of the business organizations. A company’s marketing strategy includes the value proposition of the company, main messages of marketing, information and elements on target customers.

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Marketing activity with example

There are different types of marketing activities which are described as below:

Promotional activity

The promotion activity means these activities that promote the products, services and brand of a business organization to the customers (The Economic Times, 2016). Several promotional activities create awareness among the people and attract them to buy products of the business organizations. Promotional activities are of different types including press releases, advertising, several promotions for consumers (including contests and discounts). Promotional activities support the business organization to conduct marketing properly.

Social media

Social media is several applications and websites’ series which is mainly created to permit persons to share different information efficiently and quickly in real-time (Hudson, 2017). Moreover, marketing by social media is effective in methods to promote updated services and products. In addition, marketing through social media creates a business organization’s brand value. In terms of Samsung, it has united with Facebook to market its updated products.

Market segmentation in identifying the customers

Tool using in market segmentation

According to TrackMaven (2016) notes, market segmentation is a procedure of distributing the marketplace of the potential consumers in several segments, and groups relied on several features. Market segmentation is very significant for marketers because it creates an easy process for marketers to identify their several campaigns of marketing.

Figure 1: Market Segmentation

(Source: Lecturer notes, 2018)

Several tools are using for segmenting the market including geographic factor, demographic factor, behavioral factor and a psychographic factor which are described as below:

Demographic factors: Demographic factor means allocating consumer marketing several factors such as age, socio-economic status, race, marital status, gender, etc. Demographic marketplace segmentation maintains the potential consumers depended on several demographic factors (IGI Global, 2016). Peace Essentialsshouldapply the demographic market segmentation to allocate its customers in different groups………………

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