Marketing Principles [University] [Instructor Name] Marketing Principles The marketing process involves a lot of pre thinking and decision making process before any specific decision is made. The marketing plan should be designed keeping in mind the things that are to be considered when you are planning the product launch…
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The benefits that can be achieved if you understand the customer is very important it can also help avoid any pitfalls and other issues. 2. Analyzing the market to check viability. Some basic market research should be carried out before introducing the product so that there are no issues when you launch the product or try to get something done. It is very important that some of the research that has been carried out should be utilized to ensure a successful product launch. The data such as total available market, market growth (historical numbers and projections), market trends, etc. are easily available and can be utilized for the benefit of the organization. 3. Analyzing the Competition that exists in the market 4. Researching and establishing the market distribution channels 5. Defining the Marketing Mix that exists and that the company plans to launch Marketing mix involves product, price, place, and packaging. 6. Analyzing the financials of the company and then deciding the marketing plan. 7. The last step is to revise the steps that have been taken and then finalize the decision. There is no need to spend much on advertising. They can just print out the flyers and use the posters that can be put up so that people can become aware of the restaurant. At first they do not need any kind of marketing. They can start selling packaged lunches and dinners so that the students can have very easy access to food. This will help the restaurant build a better image as it will be creating an ease for the students. The main function of any organization’s marketing department is to be aware of what the consumer expects from the products of the company and be sure to devise methods that will help deliver the promises that they have made and satisfy the customers. The control and the leading quality of the management is visible from the way that they had anticipated the fact that it’s the ethnic groups that are basically introducing newer trends in the markets. The new product range that they had introduced also showed the keenness that they had in attracting newer customers and the tactics that they used to retain the older existing customers. The introduction of the newer product range and making Mc Donald’s “an any time walk in restaurant” has totally changed their positioning in the market, since they are catering to much more diverse market than ever before. When we analyze the facets that have influence on the buying behavior that people have are the different psychological aspects of the personality like attitudes, beliefs, values, motivation and perception, these are what play a major role in how much the person will spend and how will he spend it. The following psychological aspects have also been discussed in the hierarchy of needs and as well as the other theories that have been given by different psychologists (SHIMP, 35-36). The restaurant’s management can establish the cafes and revamp the play area and in fact create a better one so that the incoming families who are about to settle in the newly finished houses, that they were bent on remaining the market leaders and not losing their touch in the daily life of general public. This will help the restaurant create a better image for them. Also, through the case study that has been mentioned it was visible that the increase in the turnover had the sole reason that
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The paper has focused on the meaning of international direct marketing which is in a narrow sense, includes all the market oriented and cross border activities and include a wide range of multi level communication which help in developing contact to the customers both directly as well as cross border (Krafft & Hesse, 2007).
The paper will show that it is important to think out of the box, to think logically, and not to follow market trends blindly. It is differentiation that would put the Virgin Atlantic apart from its competitors. Consumers are always looking for something new, something that will intrigue and fascinate them
Marketing in the simplest form is defined as the activity and processes entailed in the creation, communication, delivering and exchanging offerings that have value for customers, clients and partners. In the endeavour to be effective in marketing, certain principles must be followed.
It is also defined as the process of planning and carrying out pricing, conception, distribution, and promotion of goods, ideas and services, to create exchanges that satisfy organizational and individual objectives. There is also a different definition which states that marketing is a process aimed at identifying, anticipating and satisfying customers’ requirements profitably.
The objectives of the communication campaign and the elements involved in marketing communication are focused in detail. Finally the marketing strategy and communication method is selected and applied .There is a detailed analysis on the cost of campaign for budget allocation and finally the effectiveness of the marketing communication campaign is gauged by proven methods.
When it should be done? And how it can be done? (Soundarapandian 2002).
In respect to this, the marketing plan presented in the paper is aimed to present some crucial action plans and strategies regarding improve the current market position of Ikea
tly sell their products locally as well as internationally and operate with international companies as either competitors or suppliers, which make their engagement in global issues more significant.
The increasing use of English as an international language and the use of the
The basic concept is to make to most appropriate product that has to be available at the right place at right prices with most suitable promotion. These elements are called variables because they differ from
The product can also imply to the services, which it is rendering to the consumers. As in the case of SleepWell, its products consist of bedding. For the products to fetch higher value, they must be of quality since
Marketing is not regarded as the actual presentation of such roles as production and design but as the manipulating and guiding of these activities through the role marketing plays in decision making. Marketing may also be defined as the actions involved in identifying
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