Marketing Assignment Help

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Marketing Assignment Help

Marketing is one of the most important tools that lie with a businessman. Marketing plays a very important role in uplifting the overall status of a product. As we all know that only creation of a new product doesn’t matter. The newly created product is of no use if it fails to create an impact on the customers. And to create that impact we certainly need marketing skills. Marketing is nothing but the process of communicating with people to convert them into valuable customers. Marketing is the art that helps to identify the exact market where someone can sell his products. In this article, I am going to underline some of the facts about marketing that play a very important role in increasing the overall valuation of a product.
The main reason due to which a product flops is the fact that it lacks the concept of 4Ps. 4Ps plays a very important role in deciding the overall marketing of a product. The four Ps are basically Product, Place, Price and Promotion. In the next few lines I am going to elaborate all the four Ps that I have discussed above.

• Product: The first P of marketing is the Product. Product is the foremost element of marketing. Marketing skills will be of no use if someone does not have good product. It is the product that matters at the end. So, it should be the first duty of the operations management department to spend some time while researching the type of product that they are going to launch.

• Price: The second P of marketing is the Price. Price can decide the overall success rate of a product. It should be the duty of the project management department to decide a sensible price of the product. The department should also focus of on the price oriented fact that is whether increasing or decreasing a product’s price can help the product in gaining extra market status.

• Place: The third P of marketing is the Place. The target place should be very important.  The management team should study about the nature of product and the place from where they can launch their product. There are many available places like online media, boutique, advertising sites, stores and many more from where one can launch his product.

• Promotion: The fourth and the most important P is the Promotion factor. As I have earlier mentioned that the main reason that corresponds to the failure of a product is the fact that the product doesn’t have proper promotion factor. There should be a thorough analysis of the promotions skills that an organization can go for.

The four Ps that I have mentioned forms the basis of marketing. I have tried to cover each and every topic in a detail. But, if you still have any doubt regarding any topic related to marketing then you can always write to us.

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SWOT Analysis

SWOT Analysis

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Introduction

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A SWOT analysis enables firms to identify factors which need to be taken into account when developing marketing and corporate strategy. SWOT is an acronym which stands for Strengths, Weaknesses, Opportunities and Threats.

Strengths and Weaknesses are internal factors which are controllable by the organisation. Opportunities & threats are external factors which are uncontrollable by the organisation.

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Strength Factors

Strengths are internal factors that will help the organisation be successful. They can include employees, procedures, business assets and products. Examples of internal factors that are a strength are:

• A strong brand name
• Market share
• Good reputation
• Expertise and skill

Weakness Factors

Weaknesses are internal factors which could stop or slow down organisation's growth and success. Just like strengths they can relate to employees, procedures, business assets and products. Examples of internal factors that are a weakness are:

• Low or no market share
• No brand loyalty
• Lack of employee experience
• Inefficient company processes and procedures

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Opportunity Factors

Opportunities are factors outside the business which the firm may be able to use to help it grow the business. Examples of opportunities include

• A growing market.
• Increased consumer spending.
• Legal changes which make selling abroad (internationally) easier
• Changes in society such as an increase in birth rates

Threats Factors

Threats are factors outside the business which could make trading conditions more challenging for the firm. Examples of threats include

• Competitors
• Government policy such as a ban on some of the activities carried out by the firm
• Taxation rules which reduce the firm's or consumer income
• A change in consumer habits which makes the firm's products less appealing to the target market.

Conclusion

A SWOT analysis is a simple way to quickly assess the things that are "good" and "bad" for an organisation on a particular date. After the SWOT analysis firms should work out how to they can build on their strengths and make the most of opportunities. They also need to assess the impact of weaknesses to decide whether they need to get rid of them or simply prevent them from growing. Threats are external factors so organisations can not control them or wipe them out, instead firms should plan how to minimise their impact on the business.