MARKETING PRINCIPLES

Marketing Principles

Overview of the Company1

Part A1

Task 11

1.1 Elements of Marketing Process1

1.2 Concept of Marketing Orientation7

Task 2: Development of New Product8

2.1 Macro and Micro Environmental Factors Influencing Marketing Decisions8

Macro Environmental Factors9

Effects of Technological Environment9

Effects of Cultural Environment9

Micro Environmental Factors9

Effect of the Company (itself)10

Effects of the Suppliers10

2.2 segmentation Criteria10

2.3 Implementation of the Targeting Strategy11

2.4 Effects of Buyer Behaviour on Marketing Activities in Different Buying Situations12

2.5 positioning for the new product12

Task 313

3.1 Development of products to sustain competitive advantage13

3.2 Distribution of the Product14

3.3 Pricing strategy15

3.4 Integration of promotional activity for achieving marketing objectives16

3.5 Extended Marketing Mix17

Task 4: FMCG (Fast Moving Consumer Goods)17

4.1 Marketing Mixes in Consumer Markets17

4.2 Differences in Marketing Products and Services to Organisations Rather Than Consumers18

4.3 Difference between International and Domestic Marketing24

Part B25

Merit 1: Appropriate Strategies to Overcome Threats and to Avail Opportunities25

Merit 2: Justifying the Promotional Strategies26

Merit 3: Risks and Opportunities in the National to International Market27

Part C28

Distinction 1: Critical evaluation of the proposed strategies28

Distinction 2: Impacts of promotional Mix on the Market28

Distinction 3: Entry of FMCG Company into International Market29

Conclusion30

References31

Marketing Principles

Overview of the Company

This paper discusses all the relevant aspects of the product development process and its marketing strategies and tactics for attaining competitive advantage in the market. The Company taken is “Aqua-Fresh Company” that is going to develop a new product named as “Aqua Boom”. The product is going to be extremely nutritious and healthy for the physical and mental well-being of the individuals. The company deals in a large network of soft drinks, and is a privatized company. The company deals in a large business with its products recognized globally, also at the domestic level.

Part A

Task 1

1.1 Elements of Marketing Process

1.2 Concept of Marketing Orientation

Marketing orientation is the implementation of the marketing concept in order to approach the customer's needs and desires. It is a fact that the customers lead the market and the produces are meant to follow the preference of the customers. It helps in the generation of organization-wide intelligence of market as the main focus is on the customers, based on their current and future needs and preferences (Kotler, 2009 pp. 38-60).

Market orientation includes the involvement of customer orientation, competitor-orientation and the inter-functional coordination, together with the consideration of company's value and the consumers' benefits. It provides the company a competitive advantage by focusing on the two main areas, including the increment of product benefits pertaining to the cost of consumers and the decrement of customers' cost for the benefits of the customers (Kotler, 2009 pp. 38-60).

For achieving competency in the market, the company has to carry a thorough research for responding to the customers' needs accurately. Therefore, significant cost is associated with a strong market orientation. These costs include the deployment of technological infrastructure for collecting, analyzing and using the data of customers. Moreover, the modification of processes, training needs, and iteration of products also intake ongoing investment form the company (Kotler, 2009 pp. 38-60).

The company needs to focus on the marketing concept to a greater extent as the customers are well-informed ...