Techniques of Market Analysis - Cissy Wears
University: UK College of Business and Computing
Question :
Different types of advantages has been provided by principles and techniques of marketing to Cissy Wears that enhances their future growth and opportunities for holding more number of market shares.
- Evaluate concept of marketing and application of marketing mix.
- Determine market analysis aim.
- Analyse e-marketing concept to manage online image.
- Examine techniques of market analysis.
Answer :
INTRODUCTION
Marketing is identify as an art and science of exploring, delivering and creating value to satisfy the requirement of target market or audience at a profit. It is also defines unfulfilled desires and needs of the customers. It quantifies, measure and defines the size of specified marketplace and the profit potential (Arcaro and et. al., 2016). It is more important tool which is used by the each and every enterprise with motive to maximise their turnover and sales in given time period. The reference organisation taken in this assignment Cissy Wears, it is a small shop which is located in London, UK. This report cover different tasks including marketing concepts, E-marketing, types of market research and its finding which presented to the marketing team.
TASK 1- What is marketing?
Concepts and activities of marketing:
Marketing refers to the essential activities of an organisation associated with selling and buying a services or products. It covers, selling, advertising and delivering the quality products to the people. There are different activities of marketing which are determined as below:
Product Selection: Cissy Wears is a small enterprise which deals in different kind of products including Toys & Gifts, Grown ups, Interiors and many other beautiful design products. In this business manager provide selection facility to the customers so that they are satisfy with company products (Gordon, 2012). It benefited to the organisation to maximise their profitability and productivity.
Pricing Activities: Price of the business products are diversified as per its quality and quantity. It is good for the every class of people. In this company analysis price of their competitors and set best price in order to compete challengers in marketplace.
Product placement: Under this activity marketing play vital role to diversifying products into different category. In this Cissy Wears place their various products including Gifts & toys, interiors and many other.
Promotional activities: It is another important and beneficial activity which help the business to promote their all products and services in marketplace. In this company used different kind of promotional mix including advertisement, public relation etc.
Market Segmentation:
It is another important part of marketing which identify the customer taste, preferences, income level and many other. Thus, classification of market is totally depend on customer behaviour, attitudes and many other relevant points. These segmentation are divided into four parts which are explained as below:
Geographic segmentation: It is essential for the marketers as large number of person belonging to various regions may have various needs. Cissy Wears provides different products to the customers as per its needs.
Demographic segmentation: Under this segmentation, market is classified on the basis of family size, martial status, age, religion, nationality etc. Business products are useful for the every age group people which help them company to maximise their turnover (Gordon, 2013).
Behavioural segmentation: The market is also classified which is based on preferences, usage, behaviour, decision making and choice of customers.
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