R/508/0532 - Marketing Principles And Techniques Of Grocery Store

TASK 1

1.1 Concept of marketing

In modern scenario, marketing can be stated as the concept which has become necessity for the company for conducting the operations in coming period of time. Based upon the case study, Grocery Store which has been running for around 6 months which can not operate in certain way. Major motive of this sector is the products which are being provided to give out high level of satisfaction to the customers in better and effectual manner.

Definition: According to the association of marketing, there are set of institutions and the process of communicating, creating and thus exchanging the demand which mainly has the certain kind of value for the customers, partners and other kind of communities (Bishop, Fody and Schoeff, 2013). Apart from this, this mainly can be stated as the activity of the companies which are mainly related to the buying and selling up of products provided by the grocery store to multiple customers. This mainly consists of selling, delivering and advertising for multiple people. Dominant role is majorly being played by the marketing sector in promoting the business and accomplishing the objectives. This is being mainly served as company's face which mainly coordinates the producing all material representing the business. These mainly depends upon the various kind of aspects which are:

• Defining and managing their brand: This kind of factor is mainly associated with the management of resources which brand in turn can bring improvisation in coming period of time. Campaigns are being conducted for the initiatives of marketing within certain tenure.  
• Producing internal communication: Value of the company has to be determined by the employees along with objectives which are being set up the company. These are mainly vital and has effectual communication for being result oriented.   
• Planning activity: This is mainly being considered as one of the reliable executive set which is highly related with the marketing objectives. This in turn improve the marketing share with certain kind of percentage for meeting up of objectives (Gordon, 2012).  
• Research Activity: This kind of factor is highly effective for carrying out proper research for determining the opportunities for having better level of profits.

1.2 Market segmentation

This is mainly being stated as one of the essential breakdown of the target of the company within the smaller unit which is mainly manageable by all kind of group. This mainly enables the companies to serve the customers by conducting research so that needs and wants can be evaluated and fulfilled in better and effectual manner. There is the high need for classifying the markets along with customers into various kind of homogeneous products. This is mainly categorised in 4 equal parts and they are described below:

• Geographic segmentation: In this kind of factor, market is being classified as per the geographical area. Modern market is mainly being segmented for the continents and more narrowly and this mainly consists of region, country, density of population and climatic zone.     
• Demographic segmentation: This kind of demographic division is majorly based upon the variables of customers which are like income, age, family size and socio economical factors. This mainly assumes that similar kind of demographic profiles will mainly exhibit the buying patterns and interests (Graber and et. al., 2016). 
• Behaviours segmentation: Segmentation is mainly being done on grounds of attitude and behaviour of customers for mainly determining the behaviour of number of customers. Marketer mainly believes upon the all kind of variables which are highly superior of demographical formulation of market.  
• Psycho-graphic segmentation: These are mainly based upon the lifestyle segmentation which in turn is being measured by studying all kind of activities, interest and customer's opinion. This is mainly being utilised for various kind of aptitudes which are spending certain kind of issues.  

1.3 Market mix

This is mainly the most reliable part of the marketing model. Marketing mix has been defined as the set of valuable techniques for various kind of products , price and other kind of crucial aspects and thus it can mainly be determined within future time (Hodge and et. al., 2011). This mainly consists of 4ps of marketing and some of them are described below:

• Product: In the business of grocery store, numerous kind of products are mainly being produced which in turn can help company for improving the productivity. This mainly consist of every kind of home products, food items and many more.
• Price: There are prices which are being set upon the products which are being set by the members of family. However, the prices which are being set are at their maximum level as compared to the quality . There is the need of changing up the prices as per quality standard. Like for the household products there should be range set below the MRP rate. 
• Place: As per the given data, this has been majorly found out that the business has been running successfully for 6 months in the grocery sector at single location. This is highly difficult for making the expansion so easily for growing the business in slow manner.   
• Promotion: Awareness needs to be created for the products which are mainly being offered by the company (Lees-Marshment, 2014). There is the need of making the utilisation of promotional techniques which are highly reliable for attracting the people. 

TASK 2

2.1: Aims of research and market analysis 

Major objective of the particular research which in turn can mainly improve the level of businesses by utilising the innovative ideas for product. By this, researcher will be able to determine the purchasing habit, advertising recalls and packaging of the product with some of the factors (Lefebvre, 2011).

Analysis of market is being done for investigation of the crucial aspects and thus it can help in determining number of opportunities along with threats as well. This mainly consist of common aspects such as:

Market size: This is mainly being related with entire level of sales and potential sales done by the company for work expansion effectively. There are some vital resources which helps in determining size of market which is Govt. data, trade association and