MARKETING PRINCIPLES

Table of Contents
“The Concept and process of marketing” 3
1.1 VARIOUS ELEMENTS OF MARKETING PROCESS: 3
1.2 EVALUATE THE BENEFITS AND COSTS OF A MARKETING ORIENTATION FOR A SELECTED ORGANIZATION: 4
TASK 2: 5
REPORT on “The Concept of Segmentation, targeting and positioning” 6
2.1 Macro and Micro environment Factors Which Influence Marketing Decisions 6
2.2 Segmentation Criteria to be used for Products in different Markets 8
2.3 TARGETING STRATEGY FOR A SELECTED PRODUCT/SERVICE 9
2.4 HOW BUYER BEHAVIOUR AFFECTS MARKETING ACTIVITIES IN DIFFERENT BUYING SITUATIONS 10
2.5 NEW POSITIONING FOR A SELECTED PRODUCT/SERVICE: 10
Task 3: 11
UNDERSTAND THE INDIVIDUAL ELEMENTS OF THE EXTENDED MARKETING MIX 11
3.1 HOW PRODUCTS ARE DEVELOPED TO SUSTAIN COMPETITIVE ADVANTAGE 11
3.2 EXPLAIN HOW DISTRIBUTION IS ARRANGED TO PROVIDE CUSTOMER CONVENIENCE 12
3.3 EXPLAIN HOW PRICES ARE SET TO REFLECT AN ORGANIZATION’S OBJECTIVES AND MARKET CONDITION 13
3.4 ILLUSTRATE HOW PROMOTIONAL ACTIVITY IS INTEGRATED TO ACHIEVE MARKETING OBJECTIVES 13
3.5 ANALYSE THE ADDITIONAL ELEMENTS OF THE EXTENDED MARKETING MIX 14
Task 4: 15
USE THE MARKETING MIX IN DIFFERENT CONTEXT 15
4.1 Plan Marketing mixes for two different segments in consumer markets 15
4.2 Illustrate differences in marketing products and services to businesses rather than consumers 15
4.3 Show how and why international marketing differs from domestic marketing 16
CONCLUSION: 16

TASK 1: “The Concept and process of marketing”

1.1 VARIOUS ELEMENTS OF MARKETING PROCESS:

Marketing:
Marketing concept is a philosophy, not a system of marketing or an organizational structure .It is founded on the belief that profitable sales and satisfactory investment can only be achieved by identifying, anticipating, and satisfying customer needs and desires. Barwell (1965)
Elements Of