Marketing In Action: Examples From Different Sectors, An Essay Showcasing Effective Strategies.

Your task is to collect a total of 6 different examples relating to specific topics that illustrate and provide evidence of ‘marketing in action.’ You need to find 1 example from each of the following topics/concepts:

1. Market Research and its use in a marketing plan. This means sourcing an example that demonstrates the use of market/marketing research to determine marketing objectives, strategies or tactics.

2. Who are the competition for your favourite product? This means sourcing an example that demonstrates the impact competition (an external factor) has on your favourite product and thus influences marketing objectives and strategies.

3. PESTEL and how this affects the introduction of a new product or service. This means sourcing an example of a new product or service first, and then explaining how each factor in PESTEL affects entry into the market.

4. SWOT analysis and its use in the marketing plan. This means sourcing an example that demonstrates how SWOT is used by a company to guide decisions related to the marketing mix or other elements of the marketing plan.

5. Segmentation, targeting and positioning in marketing (STP): Current trends in the industry of your choice. This means first choosing an industry that you are familiar with or interested in. Source an example that describes a current trend in that industry. Explain how STP could be used to take advantage of the trend.

6. Marketing Ethics – This means sourcing 1 example of a problem with marketing ethics relating to the marketing of a products or services. Explain how applying an ethical marketing approach could have helped avoid or address the problem.

Your examples must be current (from 2016, 2017) and should come from sources such as newspapers, magazines, websites, social media (e.g. consumer blogs), personal experience, etc. If you are not sure if the source of the evidence/ example is appropriate, please ask your tutor. 

Market Research and its use in a Marketing Plan

The report examines about the marketing portfolio of six different organizations. The report explains the marketing research done by Samsung to determine marketing objectives, strategies and tactics of the company, competition for Lakme, PESTLE analysis of Honda, SWOT analysis of P&G and marketing ethics issues in Volkswagen.

Market research: Successful organizations like Samsung have wide found out about their customers and their competitors. Having accurate and specific information about customers and competitors is a fundamental introductory stage in marketing examination and the change of a promoting design. In creating a market plan, basic capacities to be performed are the necessities and requirements of customers, choosing or creating up a product or services which will identify customer’s issues, make unique products that will make the customer aware, and ensure movement of the product or organization.

According to, market research enables Samsung Company to achieve market objectives, strategies, and tactics:

Monitor the restriction in the market: This market research enabled Company to comprehend the competitor’s strategies and tactics in advance and act accordingly.

Distinguishing opportunities to establish bargains and create organizations business: This market research helped Samsung Company to grow the new market by utilizing research encouraging company growth and deals in future.

Better understand the features and preferences of its customers: According to Brown & Anthony (2011), it empowered Samsung Company to investigate in advance the customer taste and preference identified with future and recent products.

Reducing peril by settling on educated business decisions and not just contingent upon nature or feeling: The market research also enabled Samsung to take an informed decision which empowered it to take beneficial and favorable choice for the organization. Essentially relying on sense which most marketers do, Samsung saved itself from many wrong decisions which it could have taken (Butler et al., 2016).

Perceives and plan for challenges in the industry and in the economy all over: The market research enabled Company to determine any loopholes in its products and strategies and discard it in a desirable manner.

Critical decision: Samsung also took the critical decision which demonstrated useful for the company in future and empowered it to focus on the future customer segment.

The Olay product of P&G is the favorite product selected. P&G has set up Olay as one of the world's best-known facial skin care brands, with a worldwide reputation. P&G portrays Olay as the best offering worldwide facial skincare mark with 10 percent market share. Olay has numerous competitors. While its primary opponents such as Dove or Neutrogena have enhanced into more generalized personal care products such as shampoos and do, Olay has remained firmly concentrated on the skincare sector, and since 2000 has pushed forcefully into the premium area with a scope of substantially higher-estimated variations. Olay greatest strength its accomplishments in the anti-aging segment and threaten to become an area of significant weakness (Haskova, 2015). Olay should now defend itself against newer or younger brands, perceived by the next generation of customers as more pertinent. The advancement of the mass market against maturing products has prompted a raft of competitive products, particularly in the United States and Olay's growth has slowed down since 2010. The Olay incorporates a wide assortment of saturating and cleansing products for the face and body, and at present comes in a puzzling scope of lotions, creams, bars, sprays, and wipes. Olay innovation, and in 2010 it launched a co-branded line of Dawn dishwashing cleansers which guarantee to give better care to hands. The Olay mark has additionally been co-decided on a few other gathering items, incorporating a Venus with Olay razor for women.

According to Hoberg & Phillips (2010), the competition influences the marketing goals and objectives of P&G, as it has to be at the top to retain the existing customer in business. The strategies which are adopted should be unique in order to achieve objective decided by the company.

Political: In the United Kingdom, an extremely predetermined number of cars are being sold after the legislatures gave out its new proposal. This law would influence the sales of Honda, and they would not have the capacity to deliver the quantity of cars like it used to previously. The stable political condition will build the advanced measures and boost the endowment. Political factors will be impacting the innovations directly. It refers Honda need to perform responsive to its changes in a safe manner.

Environmental: According to Dai & Cai (2017), the prices of petroleum are expanding because of global warming. Thus, Honda is manufacturing eco-friendly cars like Honda Hybrid to prevent global warming. Honda has fabricated different engines for various regions to resolve the issue of car engines.

Social: Honda introduced new eco-friendly cars with change the thinking of customers. Honda deals in the English language to discard language barriers and spread around the world. So a proper analysis of all social factors which can influence the launch of new product, Honda should be in advance investigate to build a place in the market.

Technological: According to Hollensen (2015), the factors that influence Honda regarding technology demonstrate how the pattern helps in the business. Honda producers have incorporated the Satellite Navigation system in new cars. Honda is now producing ecological friendly cars by giving fuel economy, clean emissions, and sufficient torque. The company will surely consider the reality of hybrid cars, which will give advantages the customers and generate more sales.

Legal: Honda needs to concentrate on its pricing policies, must propose the lessening on vehicles, which helps to consider the competitors, and permits creating more deals. Honda adapt up with the issues like detailing incidents, training, and the safety devices to confirm that its employees are secure.

Economic: The exchange rate of the United Kingdom and Japan are not same always which affects the price of Honda's cars. Honda presents new models of cars consistently to go on sale and keep up with this income rising. To adapt up with the economic issues that the world is facing, Honda is now launching more economical and eco-friendly cars (Levy & Roll, 2010).

Strength: Lakme is a famous brand in the cosmetic and beauty industry. High perceivability through focusing on the top of the line beauty parlors or salons and also through supporting fashion occasions and strong promotions have helped the company in making best of mind awareness. Lakme adds to the beauty of women through an awesome product offering, which has an amazing depth of products. Lakme is also known to launch an assortment of cosmetics which are creative and are known to solve the issue of cosmetics for ladies.

Weakness: Lakme has presence in the value for cash portion in which it is a leader. According to Nath et al. (2010), Lakme is the overall market leader in the color cosmetic segment with an extensive variety of products and costs but when it comes to premium markets which are expanding at the rate of 30 percent Revlon is the market leader. Falling quality of Lakme salon will bring about the negative word which can influence deals and development of the company in future.

PESTLE Analysis of Honda Company

Opportunity: Moving population and with the immersion of created economies, changing taste and preferences, education and changing way of life of the developing economies had resulted into development in the grooming segment. Creating more collaborative and participative group concentrated activities enable the company in establishing a brand image and co-making development opportunities. Lakme expands its essence in the grooming segment then it will help it is turning into a leader in the grooming industry.

Threat: Intensive competition from the local market, national and international players on cost and accessibility factors is the significant threat for the players in the segment which is influencing the business as a whole. Fake products are specifically influencing the brand image of the company in the rural market and small towns. International brands like Revlon which have a very long time of expertise in the personal care industry can impact the business of Lakme in the chosen market or can confine their growth rate (Panda et al., 2014). 

According to Rajasekaran (2015), the new product offered by Starbucks is company drinks and food. This is the creative idea used by Starbucks in order to attract new customers towards their company.

Segmentation: The goal of segmentation for Starbucks is to perceive and objective customer group so that company will get the high income from the promoting budget. Starbucks was based as a Socio-economic segmentation base in consumer markets as it has focused on social class especially the business class individuals those who are working in the workplace and needed to have some espresso with a good environment and services. Starbucks also had segmented his market by geographic and demographically by choosing the store area where they can locate the educated and coffee lovers.

Targeting: Starbucks needed to build up a respectable connection with the customers. Most of the organization enters a new market in serving a single segment, and if this demonstrates effective than they include more segments. Starbucks also targeted the parents with the youth, children and it has included more segments by including teenagers and build up its product range also. Starbucks capabilities are enhancing as it is going wi3th the current trend of the market. This will not enhance company sales but will increase customer health as well (Terpstra et al., 2012).

Positioning: It means conquering the maximum necessary marketplace in customers' minds, creating the brand almost unconquerable. Starbucks has positioned in the market as a profoundly reputed brand. Starbucks positioning strategy was customer base with the goal that it can give the best service more than what the customers expect. Starbucks has acquired a competitive benefit over customer satisfaction and employees fulfillment as Starbucks had built up its positioning strategy depend on the customer and gave the most extreme facility in terms of layout, furniture to the music, and in terms of employee fulfillment, Starbucks make employee as a accomplices and gave them an individual security with an opportunity to take part in the every decision of the business and make it successful.

SWOT Analysis and its Use in the Marketing Plan

According to Crane & Matten (2016), Volkswagen had expelled the idea in the hybrid market, instead choosing to construct diesel cars which held just only 5 percent of the United States in 2007. The chairman of company Winterkorn believed that diesel promised thigh fuel effectiveness without relinquishing power. However, diesel cars produce fundamentally more pollutants than gas controlled cars. The major ethical issues present in the company which often employees act unethically are:

The pressure from the senior level was intense. Volkswagen code of conduct on which each employee was apparently prepared in morals, appeared to be immaterial when contrasted with management’s autocratic authority style and determined objective to succeed at any cost.

The second issue is the opportunity to cheat was available. Matching with the mandate the engineers got to come up with the another solution, Bosch of Volkswagen the diesel engine management software that could identify when a vehicle was being tried on discharge controlling devices on the understanding that it would be utilized for inner testing, as use was illegal sold to the public.

Following measures can be taken to solve ethical issues:

Proficient Conduct: According to Murphy et al.(2016), Volkswagen should practice professional conduct to determine the above issues raised like it re-centered their diesel engine management and should communicate substitutions immediately.  

Safer products: Ethical practices in sales and marketing should be conducted properly before launching any product. The company should go through a proper research and methodology to check the product safety measures.

Conclusion

This report concluded that the marketing portfolio is important for analyzing the market structure of different companies. This report explains the various elements of the market portfolio which include market research of Samsung, Competition analysis of P&G product, PESTLE analysis of Honda, SWOT analysis of Lakme, the marketing strategy of Starbucks and the marketing ethics issues of Volkswagen company.

References

Brown, B., & Anthony, S. D. (2011). How P&G tripled its innovation success rate. Harvard Business Review, 89(6), 64-72.

Butler, F.C., Butler, F.C., Martin, J.A. & Martin, J.A., 2016. The auto industry: adapt to disruptive innovations or risk extinction. Strategic Direction, 32(11), pp.31-34.

Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.

Dai, G. & Cai, Y., 2017. The Cross-Culture Management of Chinese Enterprises in Poland Under the Belt and Road Initiative—Based on PEST Model. International Business Research, 10(9), p.96.

Haskova, K. (2015). Starbucks Marketing Analysis. CRIS-Bulletin of the Centre for Research and Interdisciplinary Study, 2015(1), 11-29.

Hoberg, G., & Phillips, G. (2010). Product market synergies and competition in mergers and acquisitions: A text-based analysis. The Review of Financial Studies, 23(10), 3773-3811.

Hollensen, S. (2015). Marketing management: A relationship approach. Pearson Education.

Levy, M., & Roll, R. (2010). The Market Portfolio May Be Mean/Variance Efficient After All: The Market Portfolio. The Review of Financial Studies, 23(6), 2464-2491.

McQuarrie, E. F. (2015). The market research toolbox: a concise guide for beginners. Sage Publications.

Murphy, P. E., Laczniak, G. R., & Harris, F. (2016). Ethics in marketing: International cases and perspectives. Taylor & Francis.

Nath, P., Nachiappan, S., & Ramanathan, R. (2010). The impact of marketing capability, operations capability and diversification strategy on performance: A resource-based view. Industrial Marketing Management, 39(2), 317-329.

Panda, L., Panda, S. R., & Rout, L. P. (2014). Marketing sustainability with reference to Lakme industry. Arth prabandh: A Journal of Economics and Management, 3(9), 175-183.

Rajasekaran, R. (2015). Starbucks' Entry into Tea-Drinking India. IUP Journal of Brand Management, 12(3), 45.

Terpstra, V., Foley, J., & Sarathy, R. (2012). International marketing. Naper Press.