Assignment on Unit 4 Marketing Mix

Assignment on Unit 4 Marketing Mix

introduction
Marketing is an integral task of a business organization. Its complexity is increasing in the current globalized market, where the existence of a company has become difficult with many companies competing simultaneously. To become a Leader and Beat Contest, it is necessary for a company to follow the best possible marketing process, including proper marketing strategies, market segmentation, selection of ideal target market, product status, etc. It is also ideal for choosing the best marketing mix for each targeted market so that more customer retention and loyalty can be achieved. This ensures the increase in sales volume and profitability. In this unit, the matter of 4 assignments, an office furniture company, Cuffal Ltd, has been discussed on the marketing mix. The company has some stores to provide direct service to consumers, but they also have strong participation in the industrial market. How can Kaffel Ltd's marketing process and marketing mix and the company survive in different market segments, this report highlights the appropriate use of the right marketing mix. The difference between marketing buying behavior and marketing mix in Business to Business Marketing (B2B) and Business to Customer (B2C) marketing is another topic of discussion on this Unit 4 assignment in marketing mix.

Also read:- Marketing Mix

task 1
Marketing Concept: Marketing concept is the principle that organizations should break the needs of their customers and then compromise on options to meet those needs, which are better than the opposition. Today most firms have adopted the idea of ​​advertising, although this is not usually the case. The idea of ​​advertising depends on the business sector pieces after showing the exam to mark their size and their needs. To meet those needs, the promotion group sits on options regarding the controlling parameters of the mix.

 Elements of Marketing Process: The marketing process is a comprehensive concept that is essential to the success of any organization. Different types of activities involved in the marketing process are designing the product, setting prices, making strategies, advertising and promotional activities. To ensure the best marketing process and business success, these activities should be the perfect combination and effective conduct. All these marketing activities are combined into four key elements of the marketing process, which are described below:

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 Research: Before the product launches or development, the company needs to analyze the current market conditions and how the market trend will affect the company's products. Market research involves knowing the exact requirements of the market, customer's priorities, the strengths, weaknesses, opportunities and dangers of both internal and external market conditions. This enables the company to select target market, product status etc.
Strategy: After analyzing the market through market research, the next important step is to create a good marketing strategy in which the policies and procedures for the operation of marketing activities will be identified and planned. Strategic formulation will be based on SWOT analysis of the company and is associated with business objectives. The objective of the strategy is to beat the competition and increase customer base and market share (Griffin, 2013).

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task 2
Planning: Another major element is market planning. This helps to know the exact goals of the company. Market planning includes forecasts sales, financial requirements, communication strategies, personnel requirements and many other criteria that the company wants to achieve in the future.
Strategy: Strategies are small plans that are designed to attract more customers towards the company's products, increase market share in high profit margins and so on. In this aspect, the firm will have to take action to make some short-term objectives and achieve the same. Promoting
strategies in the price like cuts, discounts, proposals, etc. may be.
Kaffel Ltd. Evaluate the benefits and costs of marketing orientation for
The relevance of the marketing orientation approach is achieving its visibility in recent years rather than product oriented approach. In the market-oriented approach, the primary purpose of the company is to identify the needs and preferences of the customers and to identify the marketing process in such a way that the needs of the customers are met through distributed products. Market research, strategic manufacturing, market planning, product launch and implementation will be based on the needs and priorities of all customers.

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To be customer centric, Kefel Ltd has to go through three steps. First of all, identify and research the needs and wants of the customer. The second is to study research production to know where to improve in the current market process.

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