Running head: MARKETING 1

Name of the student

Name of the university

Assignment title

Date
MARKETING 2

Table of Contents
Introduction.................................................................................................................................................2

Marketing....................................................................................................................................................2

Marketing Mix.............................................................................................................................................2

Product/Service Development.................................................................................................................3

Price levels..............................................................................................................................................3

Place........................................................................................................................................................3

Promotion:...............................................................................................................................................3

Physical Evidence....................................................................................................................................3

Practices..................................................................................................................................................3

People......................................................................................................................................................3

Remaining Competitive in a Market............................................................................................................3

SWOT.........................................................................................................................................................4

Strengths..................................................................................................................................................4

Weaknesses.............................................................................................................................................5

Opportunities...........................................................................................................................................5

Threats.....................................................................................................................................................5

Ansoff Matrix..............................................................................................................................................5

Market Penetration..................................................................................................................................5

Market expansion....................................................................................................................................5

Product development...............................................................................................................................6

Diversification.........................................................................................................................................6

Digital Marketing........................................................................................................................................6

Conclusion...................................................................................................................................................7

References...................................................................................................................................................8
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Introduction
It is critical for the company to contact its consumers. Marketing is a means of continuing
the dialogue. Entertaining clients is not the same as promoting the products. Providing useful
info about goods and services to consumers is part of connecting them. It's all about coming up
with new ideas. Telling the consumers what they do not even know is a good idea. Make it
fascinating and worthwhile for them to spend their energy on (Kukartsev et al., 2019). One of the
most effective ways to influence the consumers is through social networking sites. To connect
their consumer market, several businesses employ short movies and other humorous techniques.
Branding provides clients a feeling of connection by influencing them.

Marketing
Marketing's goal is to constantly investigate and evaluate your customers, hold focus
team interviews, mail out questionnaires, investigate internet buying behaviors, and raise one
central issue: "Why, what, and how do customers wish to interact with firm?"

The added market is a straightforward and strong declaration of worth, but it is just the
beginning (Dawes, 2018). How do marketers make sure they're engaging and giving content to
their targeted audience? Assume you're a "designed demographic." Consider your mobile phone.
What might entice you to get a fresh phone? What impact may the aforementioned factors have
on your purchase verdict?

The business plan explains when to utilize the business model to meet the company's
goals. The targeted client is at the heart of the advertising plan. While aspects of the business
policy may rely on domestic processes or aim to impact outer factors, the sales promotion is
overly concentrated on the intended audience.

Marketing Mix
Marketing Mix strategy is a construct that lies at the conceptual heart of the field of
strategic marketing and is central to the practice of marketing.  It aims to investigate the
influencing of marketing mix (MM) on increasing the effectiveness of product promotion and
their role to reduce the problems within the organization (Nikbin et al., 2021).
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The 7Ps assist businesses in reviewing and defining critical challenges that impact their
brand and solution marketing. The promotional strategy, often known as the 7Ps paradigm for
online advertising, is a well-known marketing paradigm (Hasan and Islam, 2020).

Product/Service Development: How to improve your item or facility?

Price levels: What changes can we make to cost structure?

Place: What innovative marketing alternatives are available for client to enjoy our goods, such as
internet, in-store, smartphone, and so on.

Promotion: Supplement or replace the sponsored, leased, and generated news organizations in
terms of advancement?

Physical Evidence: How to comfort our consumers, such as beautiful structures, well-trained
employees, and an excellent webpage (Mustaqimah, Hartoyo and Nurmalina, 2019).

Practices: Are there any corporate procedural roadblocks to providing the highest service
quality?

People: Who are we, and do we have any expertise shortages?

Are we actively pursuing different partnerships and effectively maintaining current ones?

Remaining Competitive in a Market

To remain competitive in regards to the operational industry, a company needs to act in
accordance with the modern world. Marketing assist a company’s growth in the market by
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gaining clientele by aligning with the strategies to attract customers. The awareness and brand
value increases as promotional activities help in reaching a wider customer base irrespective of
the geographical distance (Benzaghta et al., 2021). An increased customer base leads to
increased purchases and sales resulting in high revenues. The greater the market share, the more
successful an organization becomes through dominating the industry it is operating in.

SWOT
Moreover, in a firm, marketing tools are used to stay competitive by analyzing and
implementing the appropriate strategies that are derived from an in-depth evaluation of the firm
and industry. According to Serova, Vorobyev and Fainstein (2019), after the company has
decided the marketing mix and are utilizing them resourcefully, SWOT analysis must be applied.
SWOT is a combination of internal and external reviews, strengths and weaknesses give an
overview of the internal aspects of a company while opportunities and threats address the
external aspects. A detailed overview helps in constructing precise personalized plans that are
beneficial and suitable for the firm.

Strengths
The aspects that assist in accomplishing the firm's objectives are referred as strengths.
These are the building blocks for a company to be successful and keep long-term prosperity.
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Weaknesses
The aspect of weaknesses act as barriers in operational activities that undermines
company’s true potential (Serova, Vorobyev and Fainstein, 2019). Once known, an organization
can manage such limitations as they need to be reduced or even eliminated if possible. For
example, if there are cash flow issues, company could sell of long term assets to increase that to
simplify operations.

Opportunities
The opportunity must be evaluated by companies so that they can grasp those within the
appropriate time frame for instance new technological advances that customers are hyped about
can be incorporated (Benzaghta et al., 2021).

Threats
Moreover, contingency plans can be included within the strategies if the upcoming
threats can be predicted for instances lower stock during recession periods.

Ansoff Matrix
The Matrix, also termed as the Corporate Ansoff Matrix and the Device Extension Array
depicts four ways for expanding your firm. It also aids in the evaluation of the hazards connected
with each one. The concept is that danger grows as you travel into a different quarter (side to
side or laterally) (Kukartsev et al., 2019).

Market Penetration:

Market penetration is the first quarter of the Ansoff matrix. It is frequently used as a
method when a company has an old design with a well-defined marketplace and is looking for a
way to expand within that industry. The telephone business is the finest illustration of such a
situation.

Market expansion:

The Ansoff matrix's marketplace expansion approach is marketing approach. When a

company wants to enter a new industry with current products, they utilize this method. There are
various instances to consider. According to Khajezadeh et al. (2019), major shoes companies
such as Adidas, Nike, and Reebok have explored overseas areas to expand.
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Product development:

This is the process of creating new products. In the Ansoff matrix, research and
innovation consist of businesses that have a large marketplace position in an established sector
and may need to create new products. When a corporation has a large client group and
recognizes that the marketplace for its current offering has trended downwards, new growth is
required.

Diversification:

When a commodity is wholly new and just being released into a new industry, the Ansoff
matrix's dispersion method is used. Samsung is an illustration of diversity. It started off as a
selling firm before branching out into healthcare, finance, and retailing (Dawes, 2018).

Market penetration, market expansion, product development, and diversification are all
progression options that a business may employ to successfully expand its presence into new
areas or expand its product offers, according to the matrix. Any of those techniques has a specific
amount of danger in terms of implementation, which organization leaders should consider before
adopting the plan.

Digital Marketing
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With the ever-changing period, traditional marketing approaches have evolved

dramatically to internet advertising via digitized networks such as Instagram. The use of
electronic content is critical since it has a direct influence on profitability and customers (Denga,
Vajjhala and Rakshit, 2022). The incredibly fast-growing and affluent online sector, including its
demographic, are critical to the future of internet advertising. There are more essential
methodologies and programs provided to assist a company grow and flourish electronically by
communicating with existing and new customers, generating leads, and offering products and
commodities more successfully.

Irrespective of physical proximity, internet marketing impacts customers, resulting in

increased continued expansion. The corporation may develop worldwide brand recognition using
online marketing avoiding tax payments for starting business around the world, and the interest
of the intended audience can be captured globally through a successful web presence (Melović et
al., 2020). Additionally, it assists an organization in determining what their current audience
wants or does not want, allowing them to engage with their clients and offer customized content,
earning their engagement and commitment. Companies can attain a strong digital presence by
continued existing, expansion and success.

Small and medium-sized businesses do not have a lot of money to spend on different
advertising methods. Television commercials, as well as posters and printed advertisements, are
highly expensive. Additionally, not every business has an unlimited promotional budget. It’s
how online marketing works since digital promoting tactics don't take a significant number of
money and may reach a larger, more focused population for less money.

Through obtaining a wider customer based, as explained supra, would help an

organization grow and become more successful. Moreover, through digital marketing feedback
can be gathered that would help an organization in constantly improving in accordance to the
customers’ needs and demands.

Conclusion
Marketing is an essential component for a business to be successful as reaching the
customers and communicating with them is important. Through marketing, companies can
establish a loyal customer base through constantly updating the clientele along with increasing
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their reach and re-enforcing their promotions in the minds of the consumers (Hasan and Islam,
2020). Moreover, marketing tools help in analyzing every aspect such as the 7p’s in terms of
what the consumers demand and provide accordingly. Furthermore, opportunities and expansion
marketing strategies help the company in constantly modifying and expanding its reach and
consequently its success. Lastly, the digital presence and marketing has made the means of
marketing cost efficient, less time consuming and widened the scope of it making it further
beneficial for a business to incorporate marketing means.
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References
Benzaghta, M.A., Elwalda, A., Mousa, M.M., Erkan, I. and Rahman, M., 2021. SWOT analysis
applications: An integrative literature review. Journal of Global Business Insights, 6(1),
pp.55-73.

Dawes, J., 2018. The Ansoff matrix: A legendary tool, but with two logical problems. But with
Two Logical Problems (February 27, 2018).

Denga, E.M., Vajjhala, N.R. and Rakshit, S., 2022. The Role of Digital Marketing in Achieving
Sustainable Competitive Advantage. Digital Transformation and Internationalization
Strategies in Organizations, pp.44-60.

Hasan, M.M. and Islam, M.F., 2020. The Effect of Marketing Mix (7Ps’) on Tourists’
Satisfaction: A Study on Cumilla. The Cost and Management, 48(2), pp.30-40.

Khajezadeh, M., Niasar, M.S.F., Asli, S.A., Davari, D.D., Godarzi, M. and Asgari, Y., 2019.
Application of neural network in portfolio product companies: Integration of Boston
Consulting Group matrix and Ansoff matrix. International Journal of Economics and
Management Engineering, 13(6), pp.809-813.

Kukartsev, V.V., Fedorova, N.V., Tynchenko, V.S., Danilchenko, Y.V., Eremeev, D.V. and
Boyko, A.A., 2019, August. The analysis of methods for developing the marketing
strategies in agribusiness. In IOP Conference Series: Earth and Environmental Science
(Vol. 315, No. 2, p. 022107). IOP Publishing.

Melović, B., Jocović, M., Dabić, M., Vulić, T.B. and Dudic, B., 2020. The impact of digital
transformation and digital marketing on the brand promotion, positioning and electronic
business in Montenegro. Technology in Society, 63, p.101425.

Mustaqimah, A., Hartoyo, H. and Nurmalina, R., 2019. Marketing mix effect towards customer
satisfaction and loyalty: Case study of Rejuve cold-pressed drinks. Indonesian Journal of
Business and Entrepreneurship (IJBE), 5(3), pp.310-310.
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Nikbin, D., Iranmanesh, M., Ghobakhloo, M. and Foroughi, B., 2021. Marketing mix strategies
during and after COVID-19 pandemic and recession: a systematic review. Asia-Pacific
Journal of Business Administration.

Serova, E.G., Vorobyev, P.F. and Fainstein, E.M., 2019. Quantitative SWOT analysis and its
application to strategic management: The case of chain restaurant business.