Marketing Pricipels Essay

3734 Words Feb 18th, 2015 15 Pages
| 2014 | | |

[ Marketing Principles] | |

Contents Introduction 2 LO 1: Understanding the concept and process of marketing 2 AC 1.1: Explain the various elements of marketing 2 AC 1.2: Evaluating the approach of Amazon towards marketing 3 LO 2: Using the concepts of segmentation, targeting and positioning 4 AC 2.1: Product opportunities in changing family structure providing consumer companies 4 AC 2.2: Identifying appropriate market segmentation 5 AC 2.3: Appropriate targeting strategy for product launching 5 AC 2.4: Buying behavior of customer depending on product. 6 AC 2.5: Amazon Fire product’s position in target market. 7 LO 3: Understand the individual elements of the extended marketing mix 8 AC
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Every organization has to take one of the strategies adjusting to their marketing mission and vision (IMP Group, 1982).
And for Amazon it can be said that they are following the marketing concept. To adopt the marketing concept an organization needs to be more effective and efficient than its competitors in innovation, delivery and interaction. And this will create value not to all but to selected and segmented customers.
In Amazon’s approach to marketing it is seen that they are advertising to the selective customers using the SEO, collecting regular feedback from the customers, evaluating market on regular basis using their research tools and adjusting them continuously with the changing market. Moreover they are concerned about the product price and quality and customers reaction to that. Considering these issues we can say that they are using marketing concept in their marketing strategy.
LO 2: Using the concepts of segmentation, targeting and positioning

AC 2.1: Product opportunities in changing family structure providing consumer companies
Life of people is getting more and more complicated and sophisticated. In many families father and mother both are working. So, there is little time for them to afford the

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