PRINCIPLES OF MARKETING

Introduction

  • The principles of marketing are based on marketing ideas and thoughts of companies which are use for developing effective marketing strategy.
  • An organisation can use marketing principles for effective promotion of potential products and facilities.
  • It is important for businesses to operate in free market as success depends on recognising and retaining customers to remain profitable and ensure business growth.

Background of Chosen Brand

  • In this presentation, selected brand is Dove Toothpaste which is provides whitening and freshening to the teeth of customers.
  • It is most famous brand which has high cleaning Silica and polyphosphates.
  • The market share of this brand is around 4% and most of customers buying such product to refresh their teeth.
  • Dove is one of the popular brand and they launch variety of goods and services in the market place.
  • Market size need to understand by Dove company where they require to positioned their brand and attract new customers.
  • It is also essential for an organisation is to focus on maintaining business operations and its functions.
  • The current trends are analysed by brand which shows the actual condition of market place where company placed their brand and try to expand such in the large area of market.

Existing Brand Value

  • Advertising campaign: It is important part of creating awareness of brand among customers. By conducting campaign, company can easily reach with desired customers.
  • Company’s website: Managers of company need to update Dove website and update the products details as well.
  • Sponsorship activities: It is also requires for the team members is to performing necessary actions and functions that are important for brand extension.

PRINCIPLES OF MARKETING

 

Suitable growth strategy for brand

  • For the Dove, market expansion strategy is best suitable to enhancing the business growth.
  • Company can adopt this strategy when their growth peaks in current channels.
  • With the use of this strategy, firm can easily identify different markets where they can target potential customers.

Proposed target market for the new brand extension

 

PRINCIPLES OF MARKETING

 

Key trends and PESTEL issues that have influenced choice of brand extension idea

 

PRINCIPLES OF MARKETING

 

Comparative analysis

 

PRINCIPLES OF MARKETING

 

Visual Image of the Brand Extension

Dove toothpaste brand is most famous product among customers and its logo and design are develop in such way which attract desired buyers.

PRINCIPLES OF MARKETING

 

References

Palmatier, R.W. and Crecelius, A.T., 2019. The “first principles” of marketing strategy. Ams Review, 9(1-2), pp.5-26.

Brown, B.S., 2015. A Multiple Discriminant Analysis Prediction of Performance in Principles of Marketing. In The 1980’s: A Decade of Marketing Challenges (pp. 112-115). Springer, Cham.

Bonaparte, Y.L., 2019. Sustainable outcomes of an experiential learning project in a principles of marketing course. Journal of Global Scholars of Marketing Science, 29(1), pp.7-14.

Cummins, S., Loe, T. and Peltier, J.W., 2016. Using sales competition videos in a principles of marketing class to improve interest in a sales career. Journal for Advancement of Marketing Education, 24(Special Issue on Sales Education), p.16.

Tontuș, H.Ö., 2018. Promotion of health tourism and evaluation of the principles of marketing of health services. Journal of Multidisciplinary Academic Tourism, 3(1), pp.67-88.

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