MARKETING ASSIGNMENT

Marketing Assignment

1.1 Explaination of the different elements of the marketing mix1

1.2 Evaluation of the pros and cons of marketing orientation for the selected firm2

2.1 The influence on marketing decisions of micro and macro factors within the environment4

2.2 Segmentation criteria in accordance with differing markets5

2.3 Targetting strategy for the selected service or product6

2.4The affect of buyer behaviour on various marketing activities and its reflection in different situations6

2.5 Positioning strategy for the firm's service or product product7

3.1Sustenance of competitive edge through product development8

3.2 Arrangement of distribution in order to make it convenient for the customer8

3.3 Reflection of organisational objectives and market conditions through pricing strategies8

3.4 Integration of promotional activities for attaining marketing objectives9

3.5 Analysis of the futher extended elements in the marketingmix9

4.1 Marketingmixes for different consumer profiles/segments10

4.2 Differences of marketing a service or product to business as compared to doing it to consumers10

4.3 The major difference between domestic market and the international markets.10

Marketing Assignment

1.1 Explaination of the different elements of the marketing mix

Definitions of Marketing:

“Marketing covers those activities that relate the organization to those parts of the outside world that use, buy, sell or influence the outputs it produces and the benefits and services it offers.”

(Shaughnessy1995, p.4)

According to the above definition, an organisation's activities concerning the usage, selling and distribution of its products as well as services consists of marketing activities.

“The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, or services, to create exchanges that will satisfy the individual and organisational objectives.”

(Needham 1999, p.3)

This definition has been provided by the AMA (American Marketing Association). This definition of marketing emphasises particularly on the concept of customer satisfaction and the core functions of marketing.

Customer needs refer to the deficiency that is created due to lack of a product, whereas want is a demand backed up by buying power. Satisfying customers' needs and wants is essential due to the very basic fact that unsatisfied customers not only show a decrease in sales & profits, but also go on to do bad word of mouth marketing.

Marketing has evolved from several stages in its past, from the era of simple trade till the early 19th century, to the production era with emphasis on mass scale production in the mid 19th- early 20th century. Then came the sales era, with emphasis on customer loyalty and sales-targets. It was followed by the era of marketing, with emphasis on defining the departmental function of marketing. Subsequent eras included the marketing firm era of the late 20th century, and the more recent relationship marketing till the first decade of the 21st century. The current era of marketing can be labelled as mobile marketing.

Limitations of marketing concepts include consumer research that may be incomplete, hesitation from adopting the concept, constraints within the organisation, social barriers, as well as conflict within marketing objectives. A collaborative approach should be adopted in order to overcome these limitations (Anonymous n.d., pp.56-57).

1.2 Evaluation of the pros and cons of marketing orientation for the selected firm

SWOT Analysis

The market analysis of Tesco ...