Introduction to Marketing
Assignment Title: Marketing
Table of Contents
Marketing...............................................................................................................................3
Marketing Mix....................................................................................................................3
SWOT Analysis...................................................................................................................4
The Ansoff Matrix..............................................................................................................5
Digital Marketing:..............................................................................................................7
Conclusion:.............................................................................................................................8
References:.............................................................................................................................9
Marketing
Marketing is the management activity that aims at creating, communicating, delivering, and
exchanging products and services that have value for customers. It is one of the managerial
activities which is a process through which a business communicates with its customers with the
aim of selling goods or services (Hutt and Speh, 2021). Marketing is the process of creating,
communicating, delivering and exchanging products and services. Marketing is defined by the
American Marketing Association as the business activity that involves creating, identifying,
communicating, delivering, and exchanging products and services that have value for customers,
clients, partners, and society at large (Mowar, 2022). According to Dr. Philip Kotler, it is the
process of creating, communicating, and delivering value to customers profitably (ONCIOIU,
DOGARU and MANDRICEL, 2022).
Introduction To Marketing
Marketing Mix
The Marketing Mix is defined as the set of tools employed by an organization in order to fulfill
its marketing goals (Jasin and Firmansyah, 2023). Traditionally, this mix includes 4Ps: The four
Ps are Product, Price, Place, and Promotion. However, the Extended Marketing Mix has 7Ps
comprising of People, Process, and Physical Evidence (Prasetyawan et al., 2024). All the ‘Ps’ are
vital in the formulation of a good marketing strategy.
1. Product: The products or services that are required by the customers must be identified
by organizations. For instance, Apple’s key strategic management direction is innovation
and design to guarantee that its products are unique and easy to use to sustain the
competitive edge.
2. Price: Pricing is a very important factor that should be well determined. The target
market for a luxury product such as Rolex is the elite, and as such, the price for the
product is set high to correspond to the brand image.
3. Place: Distribution channels play a crucial role of ensuring that the products get to the
customers in the right manner. For instance, Amazon has adopted efficient supply chain
and a wide coverage on the internet to make products available to the global market.
4. Promotion: Promotion is the use of communication tools to inform target consumers
about the product. Coca-Cola is a popular soft drink brand that spends a lot of money on
international advertising campaigns to ensure that its brand is relevant to the targeted
population.
5. People: Employees affect customers. Ritz-Carlton has its staff undergo through rigorous
practice in order to provide quality services to the customers.
6. Process: It deals with how services are provided. The fast-food chain employs standard
operating procedures in order to maintain quality service delivery throughout the outlets.
7. Physical Evidence: This refers to the physical characteristics that support a brand image.
Starbucks ensures that its in-store atmosphere is warm and friendly which complements
the brand image of the company.
All the ‘P’s’ must be managed and harmonized with the organizational strategy in order to
satisfy the customer and achieve organizational goals.
Introduction To Marketing
SWOT Analysis
Competitive environment is the external force that affect an organization’s capability to
compete in its market (Leppänen, George and Alexy, 2023). SWOT Analysis is a strategic tool
that helps in identifying the Strengths, Weaknesses, Opportunities and Threats that an
organization faces (Puyt, Lie and Wilderom, 2023).. For instance, Tesco, a leading UK retailer,
has three key strengths:
1. Strong Brand Loyalty: Tesco has been able to create a large customer base due to quality,
value and the variety of products that it offers. This loyalty gives a competitive advantage
because it guarantees customers’ patronage and steady cash flow.
2. Extensive Distribution Network: Tesco has a large number of stores and an online platform
that allows it to cover a wide range of customers, which makes it more convenient than many
counterparts.
3. Economies of Scale: Tesco’s large scale of operations enables it to purchase its stocks at
cheaper prices from the suppliers hence offer cheaper prices to its customers, many of whom are
sensitive to price changes hence improving on its profitability.
In the external environment, threats are activities that are beyond the organization’s control but
can be leveraged to enhance the organization’s performance or its position in the market. Two
key opportunities for Tesco are:
1. Technological Advancements: The advancement in technology in the area of e-commerce
and digital marketing is another chance for Tesco to increase its online platform and deliver
customized shopping experiences to the customers, thus increasing its market coverage and
customer satisfaction.
2. Sustainability Trends: With the increasing awareness of the environment, Tesco can benefit
from this by encouraging the use of environmentally friendly products. This not only fulfills the
customer’s need but also helps the company to build its brand image as a socially responsible
retailer.
Introduction To Marketing
The Ansoff Matrix
The Ansoff Matrix is a tool used in strategic planning to determine the potential of growth in
various opportunities (Zugay and Zakaria, 2023). It focuses on four key strategies for growth:
The four strategic business models are Market Penetration, Product Development, Market
Development, and Diversification. It helps the firms to decide whether to target existing or new
markets and whether to provide existing or new products, and in this way, it helps to visualize
potential opportunities and threats related to each strategy (Tashyan and Suvaryan, 2023).
Ansoff’s Growth Matrix is a tool that has four categories, which are the strategies of growth. The
matrix’s purpose is to guide organizations in choosing the most appropriate strategy based on
their market conditions and product offerings: The matrix’s purpose is to guide organizations in
choosing the most appropriate strategy based on their market conditions and product offerings:
1. Market Penetration: It is a business strategy that aims at growing the sales of products
in the existing markets.
2. Product Development: This involves creating new products to fit into existing markets
or creating new markets for existing products.
3. Market Development: Refers to the expansion of a firm’s operations into new markets
with the products that are already in its portfolio.
4. Diversification: Introduces new products into new markets, which are considered to be
the riskiest.
Market Development and Diversification are two quadrants that can guide growth strategies:
1. Market Development is the process of taking existing products into new markets. This
strategy is appropriate when a firm has a good product but it lacks a large market share. While
this approach focuses on new markets, it is moderate risk because the product is already
established. For instance, Zara, a clothing retailing company, may expand to a new country by
offering products that are acceptable by the people of that country but at the same time, the
company will rely on its brand image (Aaker and Moorman, 2023).
Introduction To Marketing
2. The riskiest quadrant is the diversification strategy since it involves the development of new
products in new markets. This strategy is usually used when an organization wishes to diversify
risk across various markets and products (Van Kranenburg, Hagedoorn and Pennings, 2023). For
example, a tech firm like Apple may expand by creating new products that are unrelated to its
core markets, for example, electric cars, thus cutting its dependence on its core markets. This
approach is high risk but the rewards are high if the new market and the product are successful.
Digital Marketing:
Digital marketing is the process of using the internet and technology to advertise products or
services, communicate with customers, and generate sales (Peter and Dalla Vecchia, 2021).
Some of them include SEO, Paid Search, SMM, and Content Marketing to target the
international market and create brand awareness and leads. Digital marketing allows
organizations to reach out to a large pool of customers and thus expand and grow on an
international level.
SEO is the process of enhancing website visibility and rank on search engines to improve on the
traffic generated from the search engines (Alfiana et al., 2023). For instance, through proper
SEO, Amazon ensures that the product pages rank high in the search results hence more visibility
and sales across the world.
Another tool is Paid Search or AdWords where companies pay for their advertisements to be
displayed in the search engine results. Nike for instance employs AdWords to advertise products
to people searching for sports apparels by targeting particular words that relate to the products. It
is used to grab the attention of the customers and direct them to the business sites for increased
sales (Panchal, Shah and Kansara, 2021).
Social Media Marketing is the process of using social media such as Facebook, Instagram, and
Twitter to reach out to the public. Some of the key areas that are being exploited by the social
media include; Coca cola for instance uses social media to develop a viral marketing strategy,
customer relations and brand equity. (Nuseir, 2020).
Introduction To Marketing
Content Marketing is the strategy of delivering valuable and relevant content to the audience
(Ho, Pang and Choy, 2020). For instance, HubSpot employs blogs, ebooks, and webinars as a
way of offering information that establishes them as a marketing software company thus
generating leads and retaining customers.
Conclusion:
In this assignment, the major concepts of marketing like SWOT analysis, Ansoff Matrix and
digital marketing have been discussed which are very helpful in the growth of the organization
and to achieve competitive advantage. Through the SWOT analysis of Tesco, I have illustrated
how a firm can use internal strengths and external opportunities to sustain its dominance in the
market. The Ansoff Matrix gave understanding to strategic growth opportunities, with focus on
the right course of action depending on the market and product characteristics. Specific tools of
digital marketing such as SEO, Paid Search, social media, and Content Marketing were discussed
as critical for global outreach and customer attraction. The information shared here presents a
practical way of improving market presence, increasing sales and establishing sustainable
business in the future in the light of growing competition and advancement in technology. This
analysis highlights the need to balance conventional marketing theories with contemporary
approaches in the global marketplace.
Introduction To Marketing
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Introduction To Marketing
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Leppänen, P., George, G. and Alexy, O. (2023) ‘When Do Novel Business Models Lead to High
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Introduction To Marketing
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Introduction To Marketing
