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Marketing Principles: Assignment A2
Marketing Principles: Assignment A2
ASSIGNMENT A2
MARKETING PRINCIPLES
Contents
I. LO3: ................................................................................................................ 2
1. Task 3.1: ....................................................................................................... 2
a. Marketing Mix 4Ps.................................................................................. 2
b. Marketing Mix 7Ps .................................................................................. 8
c. Begin by describing how the CIE Programs can be developed to
sustain competitive advantage. .................................................................. 10
2. Task 3.2: ....................................................................................................... 11
3. Task 3.3: ...................................................................................................... 12
4. Task 3.4:...................................................................................................... 12
5. Task 3.5: ...................................................................................................... 14
II. Reference: .................................................................................................... 17
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I. LO3:
1. Task 3.1:
The marketing mix definition is simple. It is about putting the right
product or a combination thereof in the place, at the right time, and at
the right price. The difficult part is doing this well, as you need to know
every aspect of your business plan.
As we noted before, the marketing mix is predominately associated
with the 4Ps of marketing, the 7Ps of service marketing, and the 4 Cs
theories developed in the 1990s.
The marketing 4Ps are also the foundation of the idea of marketing
mix.
Sales Organization
Public Relations
Advertising
Sales Promotion
Advertising typically covers communication methods that are paid for
like television advertisements, radio commercials, print media, and
internet advertisements. In contemporary times, there seems to be a
shift in focus offline to the online world.
Public relations, on the other hand, are communications that are
typically not paid for. This includes press releases, exhibitions,
sponsorship deals, seminars, conferences, and events.
Word of mouth is also a type of product promotion. Word of mouth
is an informal communication about the benefits of the product by
satisfied customers and ordinary individuals. The sales staff plays a
very important role in public relations and word of mouth.
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2. Task 3.2:
There are several ways in which businesses arrange distribution to
provide customer convenience. The methods used may vary slightly
based on what sort of business is being operated.
For example, those who are running an e-commerce business will
have different techniques than those who have a standard "real
world" business headquarters. Also, different real-world businesses
may have different techniques dependent upon the size of the
business and where they may be dealing with customers.
First, let's look at e-commerce. Amazon.com is a great example of
how distribution can be arranged to make things more convenient
for customers. Amazon offers free standard shipping for items that
are advertised through Amazon. One of the reasons that they are
able to do this is because they have distribution centers located all
over the place. When you make a purchase from the site, you will
receive your packages from a particular distribution center and the
location of the center is based on whichever one of the Amazon
fulfillment centers is nearest you and contains the item within its
standard inventory.
This results in savings for the customer as well as faster receipt of
items purchase, as they often do need to travel very far. It also means
that packages are less likely to arrive damaged or in poor condition,
as they don't have to be in transit as long or switch hands as many
times.
Next, there are stores that you can walk into and order from their
display inventory. The item will then be sent to you from a local
distribution center that is found in another part of your city or state.
This method allows stores to cut down on transportation costs as
items don't have to be shipped in large quantities to each individual
store. They are just housed at a central distribution warehouse
instead.
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Advertisement
The most common mediums of advertisements are Television,
radio, newspapers, banners and the hoardings. These days the
most upcoming medium of promotion is the social media.
Public relation
The company also gives bonus points on the birthdays and
festivals of the customers. In the advertising through the public
relation the administration push the company towards advertising.
Direct marketing
The sales person promote the product directly to the customer in
malls and markets.
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Personal selling
Personnel selling is one of the other strategy which involves direct
interaction with the customers by organizing various group
gathering, also through various messages and calls.
Fluctuation
These are the products whose demand changes with time and
season. For example the season of ice cream is summer.
Intangibility
These are the services which cannot be touched and sensed but
they can be availed. This is an abstract phenomenon.
Heterogeneity
These are the services which cannot be standardized. For example,
a doctor charges rich clients higher than the poor ones. (Chand,
2016)
The basic four elements of the marketing mix are product, price,
place and promotion. The three additional elements were added
later on. They are given as follows:
Process
There is some system or the organization to conduct the
marketing strategies such as the delivery of the service,
consumption of the service and the uniformity in the offering. The
marketing department is concerned with the efficiency and
effectiveness of the difficult process. The company makes sure
that the message of the marketing reaches the concerned
customer at the right time.
People
The main people responsible for the marketing process are the
management and the employees. They make the customer aware
about the products of the organization and the rich culture of the
organization. They are responsible for presenting the services of
the company in a good manner in front of the customers and the
people outside. Human resource management holds the
important responsibility of hiring the employees for the HR
department and the other department as well. This department
holds the responsibility of increasing the efficiency of the
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II. Reference:
https://www.professionalacademy.com/blogs-and-advice/marketing-
theories---the-marketing-mix---from-4-p-s-to-7-p-s
https://www.tutor2u.net/business/reference/marketing-distribution-
channels
http://www.marketingmo.com/strategic-planning/how-to-develop-a-
pricing-strategy/