Introduction
Unit 4 Marketing Principles Assignment Help Online
The most important aspect of the business is marketing. It is a task that is essential to the business’s continued operation (Jobber & Ellis-Chadwick, 2012). Nowadays, businesses of all sizes must implement effective marketing strategies in order to stay in the market for an extended length of time. The report will go into great detail regarding several marketing concepts that are crucial for the company.
Task 1
Part 1: Two alternative definition of marketing
The Chartered Institute of Marketing (CIM)
The management process of marketing, according to the chartered institute of marketing (CIM), is in charge of finding, anticipating, and satiating consumer requirements profitably (Jobber & Ellis-Chadwick, 2012).
Unit 4 Marketing Principles Assignment Help Online
Marketing can be further defined as the collection of numerous ideas, the brand or the mode of communication or the design, process of printing, as well as measurement of the effectiveness of the marketing programme, market research, and the fundamental psychology behind all types of consumer behaviour, which is also a part of the bigger picture of marketing (Jobber & Ellis-Chadwick, 2012).
Part 2: elements of marketing process
Following is the diagrammatical representation of the market process: –
Analyzing the marketing environment: It’s critical to do a thorough analysis of the environment in which the business is operating. In addition to understanding its own capabilities and the entire business climate in which it is operating, the company will also need to identify the client who is most suited for the organisation (Kotler & Armstrong, 2013). Numerous components, including past, present, and future characteristics, are included in the study of the issue. In this manner, the business will be able to determine whether there is a discrepancy between the actual client needs and the offerings made to the consumer. If there is a gap in either of the situations, it can be filled right away. Several techniques, including 5 C analysis, PEST analysis, and SWOT analysis, can be used to do this (Kotler & Armstrong, 2013). One of the biggest fast food chains in the world, McDonald’s, will be used as an example in this section. The organisation must operate in numerous marketing environments, and it serves as the best illustration of how a multinational corporation must adapt to changing market conditions and environmental conditions. McDonald’s first conducts thorough market research to better understand the wants and needs of its customers. Marketing plan: After a thorough analysis of the scenario and the company’s ability to pinpoint unmet client needs, a proper marketing strategy is developed to meet those needs effectively. The target market will be identified through analysis and market research, and a strategy will be developed to position the product appropriately (Struthers, 2014). Children are typically the initial target market that marketers appeal to, so McDonald’s has launched a variety of products like Happy Meals to draw in as many kids as possible (Struthers, 2014).
Unit 4 Marketing Principles Assignment Help Online
Task 3
3.1 Describe the macro environmental elements that would influence Sainsbury in its selection of an international market for business expansio
Market environment, which is a phrase used in marketing, includes both the micro and macro environments. It describes the dynamics and causes that can affect an organization’s capacity to develop and sustain effective relationships with its clients. Microenvironment and macroenvironment are the two different sorts of environments (Ctoiu et al., 2013). The term “micro environment” refers to the little business forces that can have an impact on the clientele. When a corporation operates in a macro environment, it means that bigger societal forces are at play, which have an impact on the microenvironment. The PESTLE analysis of Sainsbury is as follows: –
Conclusion
The most crucial component of a firm is marketing, without which it would not exist (Challagalla et al, 2014). The paper went into great detail on numerous marketing principles and how they are applied in businesses.
References
Challagalla, G., Murtha, B. R., & Jaworski, B. (2014). Marketing Doctrine: A Principles-Based Approach to Guiding Marketing Decision Making in Firms. Journal of Marketing.
French, J. (Ed.). (2010). Social marketing and public health: Theory and practice. Oxford University Press.
Hanekom, L. M., Gericke, G. J., & Becker, P. J. (2011). South African private practising clinical dieticians’ perceptions of the relevance of service-specific healthcare marketing principles and communication elements. South African Journal of Clinical Nutrition, 24(4), 192-198.
Jobber, D., & Ellis-Chadwick, F. (2012). Principles and practice of marketing (No. 7th). McGraw-Hill Higher Education.
Jung, S. E., Hermann, J., Parker, S., Shin, Y. H., & Phelps, J. (2013). Formative Assessment using Social Marketing Principles to Identify Rural Older Oklahomans’ Perspectives of Health. Journal of Nutrition Education and Behaviour, 45(4 Supplement).
Rudd, D., & Mills, R. (2011). Expanding Marketing Principles for the Sale of Higher Education. Contemporary Issues in Education Research (CIER), 1(3), 41-52.
Struthers, A. (2014, August). Impact of High School Based Wellness Program on Adolescent Attitudes toward Fruits, Vegetables and Physical Activity. In2014 National Conference on Health Communication, Marketing, and Media (August 19-21). CDC.
Weinstein, A. (2013). Handbook of Niche Marketing: Principles and Practice. Routledge.
Wright, S., & Cawston, J. A. (2012). The Shifting Sands of University Funding: A Values-Benefits Driven Approach to Formulating Employer Liaison Direct Marketing Activity. Why Marketing Standards?
