Notes On Marketing Principles

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Pages: 16

Unit 4: Marketing Principles
Jade Pemberton

Table of Contents
Introduction: 3
LO1 Understand the concept and process of marketing 4
1.1 Explain the various elements of the marketing process 4
1.2 Evaluate the benefits and costs of a marketing orientation for a selected organization 5
LO2 be able to use the concepts of segmentation, targeting and positioning 6
2.1 Show macro and micro environmental factors which influence marketing decisions 6
2.2 Propose segmentation criteria to be used for products in different markets 7
2.3 Choose a targeting strategy for a selected product service 7
2.4 Demonstrate how buyer behaviour affects marketing activities in different buying situations 8
2.5 Propose new positioning for a
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It also decides of the company targets, company mission and the goal where the company wants to reach through its activities.
d) Tactics – In the companies, the planning happens at the topmost level while these tactics are the short term plans as well as the street smart that anyone can implement to increase the company sales, defeat other competitors, attract the customers of his business, and for providing a better value for the customers for any other short goals those which may seems to be needed to achieve properly.
1.2 Evaluate the benefits and costs of a marketing orientation for a selected organization

In the present time, various multinational companies are developing different types of new services and products which are based on a marketing orientated approach and sometimes on a product orientated approach. These marketing-oriented organizations specially focus on the discovery of the customer’s needs and they concentrate on the implementation of these requirements for achieving their goals. A further analysis is given by Cheng (2009) who described that the main focus of the company is to learn the undiscovered and unknown needs of the customer market and take proper attempt to provide the necessary things according to the customers’ need. Many organizations in the marketing sector such have various types of significant competitive advantages. Marketing concept in an organization is