MARKETING PRINCIPLES

Marketing Principles

Marketing Principles

Abstract

All businesses must quickly adapt to profound changes taking place in an economy characterized by a global market, increased competition and consumers demanding more than ever. This research includes model generic implications of these environmental changes at the organization of the company and its marketing strategy. This theoretical framework research can offer a conceptual model. Analysis Inductive documents obtained through structured interviews allowed non-structured to draw portraits of how such mutations were set up in each company. The results were validated by their leaders.

Marketing principles are crucial in the success of any company. It helps companies to boost their sales, attract more customers, and creating an image of the brand. In this paper Travelex a breakfast foodstuff has been chosen and its marketing principles has been analyzed using various SWOT, USP, STP, SMART and marketing mix approaches. From the discussion it has been concluded that the marketing strategy of the company is very effective, but it is not beneficial for the long run, however, the company needs to redesign its marketing principles to keep its competitive advantage over the competitors (Chandy & Tellis, 2001, 399-414).

Introduction

Marketing is a set of interrelated activities to meet specific company objectives. The main objective is to deliver goods or services from producer to consumer.

It involves selling, giving commercial marketing activities, develop strategies and techniques for selling products and services, import and export, sale and purchase of raw materials and wholesale goods, storage, display of counter products, organize and train the sales force, evidence of sales, logistics, purchasing, delivering and placing the product into the hands of customers, financing, etc.

To carry out the marketing of a product is very important to proper market research to identify customer needs and ways that the product or service offered to fulfil this purpose. Among other things, the marketing includes activities such as Telemarketing, Email Marketing, sales, sales techniques, advertising, merchandising, marketing, marketing, trade shows, exhibitions etc.

As you can tell with many activities that encloses the market yet are essential to make the sale of company products and get customer satisfaction (Gadde & Hekansson, 2001).

Marketing research since past few decades have gained immense recognition and importance as businesses and investors are now relying on the market research before setting up a business or investing in any particular market. Marketing research help companies to identify the potential customers, factors of risk, appropriate time and place to invest and above all how to invest, this heightens the importance of market research. In this study Travelex has been taken as the company who is now willing to expand its business to overseas and require feasible technique of marketing research and which type should they use. Choosing the right techniques is of research is of high importance as McDaniel (2009) mentioned that the accuracy of any research is completely reliant on the method adopted to carry out research, if inappropriate method would be selected no matter how much efforts one put in, will get wrong ...