Science Marketing and Art Marketing

Science Marketing and Art Marketing: Marketing research and branding

Science Marketing and Art Marketing: Marketing research is the processes through which the marketing managers collect relevant information about their product and the customers. It also involves an evaluation of the necessary strategies required to develop the correct product that will capture the attention of the customer. It provides the basis for the development of the correct marketing mix and the correct style of marketing. Branding, on the other hand, is the process through which a business develops and creates a unique image and name for a product in the customer’s perspective.

Branding incorporates information marketing research to create a brand that is attractive and present in the customers’ mind. The information from marketing research is important as it presents the customer’s expectations. In other words, branding is the art through which the marketing management delivers the customer’s expectations. It is the means through which the marketing management showcases creativity and ability to meet the customers’ expectation. Combining the two strategies creates a mix of art and science that delivers the right product in the eyes of the customer.

Market research

Market research is the process through which managers gather important information about the product from the consumer. It is a science because it involves a combination of processes designed to gather information and knowledge. The science of market research is objective because it aims at gathering relevant information about the customers. Its main objective is to determine the viability of the product from the perspective of the customer. Market research is the process through which the company identifies the possible market and the customer base for the product. It involves understanding the needs of the customers and the means through which the company can modify the product to meet the customer’s expectation. Also, market research involves gathering the necessary information about the customers’ purchasing power and the ability to purchase the product. Through market research, the company can determine the best marketing mix that would help maximize revenue (Burns et al. 2014). Also, the company can use market research to gather information about preexisting segments in the market. Hence, market research is also useful in market segmentation and product differentiation.

Market research is an objective process that involves the identification of the desired market and the development of strategies for information gathering. The management must also analyze the data collected to extract useful information (Burns et al. 2014). It involves the collection of qualitative and quantitative data concerning the customers. The company can either correct the data directly or through existing research. Therefore, the company has to decide whether to use primary or secondary data sources. Primary data refers to the type of data that has not been used in prior research and that the company collects through primary data collection tools. Secondary data, on the other hand, refers to information gathered in a prior research.

The use of prior research implies that secondary data collection involves another entity. When a company chooses to use primary data collection methods, the management has to decide on the objective of the research. The management can decide to collect answers to previously identified issues. Therefore, the management identifies areas of concerns and seeks to collect answers to the questions through market research. The management may also choose to identify new issues in the market. Using this route, the management seeks to collect an array of questions that the customers would like answers to. Whether the company chooses secondary or primary data, the main purpose of market research remains the same, the company seeks to fulfill a certain set of objectives.

Science Marketing and Art Marketing
Science Marketing and Art Marketing

Market research is mostly applicable or put into use when an organization seeks to venture into a new market. It is also necessary when the company seeks to rejuvenate its market competitiveness or brand position. Organizations may also opt to identify the characteristics and needs of a special group in its marker. Researching the market may also be necessary when the company seeks to introduce a new product in its existing market (Burns et al. 2014).

Based on the reason behind market research, every form of research will have different objectives and strategies for obtaining the required set of information. For example, a company seeking to venture into a new market has to conduct an investigation of the current interest for the product in the new market. In other words, the organization must collect information to justify the viability of the new product in the target market. Based on the outcome of the research and information gathered, the management can then decide on whether to actualize the plan. If the company establishes that the customers have a viable interest in the product, the move to invest in the new market becomes feasible. However, interest alone is not enough to make a decision to venture into the new market. The organization also has to investigate the price viability and customers’ ability to purchase the product. Hence, the management must develop a strategy that answers all the necessary questions

Branding

Branding is the means through which the management answers to the expectations of the customer by providing the product in a manner that the customers are likely to accept. It involves positioning the product in the mind of the customer and presenting the product in a likable manner. It is an art because it involves the use of knowledge and skills to develop a product. The art of developing a brand is subjective to the information gathered and the need to present a final product that meets the customer’s needs and expectations. Branding involves the development of the product and means to position the product in the minds of the customers (Latif et al., 2014). Therefore, the art of branding involves the physical aspect of designing and developing the brand in form of the product appearance and composition. The physical aspect of branding involves the development of an attractive and memorable product. The physical aspect of branding involves creatively designing the aspects of the company that relates directly to the customer. One is the physical appearance of the product. A good example of vigorous branding is the Fanta brand of Coca-Cola that continuously changes shape and appearance to capture the customers’ attention.

Similarly, physical branding involves the development of the company’s logo in a unique and appealing manner. The logo is the main identifier for any given organization. Its uniqueness determines the company’s ability to position itself in the market (Latif et al., 2014). Therefore, the company must design the logo uniquely and outstandingly. It also involves the development of a company slogan. The slogan must reflect the values of the company and appear in a manner that keeps it viable in the eyes of the customers. Like the logo, the slogan will most likely be visible to the customers at all times. Hence, the slogan must stand out in the market. Most companies identify by the brand. A well-established brand often appears to be similar to the company. Most customers consider the brand to be the same as the company (Latif et al., 2014). Even for companies that have a brand name different from the company name, customers often confuse the company with the brand.

The art of branding involves several aspects that define the company’s position in the market. Brand positioning is particularly important in marketing (Latif et al., 2014). It involves the setting up the brand in a manner that is noticeable and memorable. The brand position is a marketing strategy that is directed at creating a unique appearance to the customers. Other than the design of the logo and the slogan, positioning the brand may also include printing the brand name, logo, and slogan on the company products. The art of positioning has evolved to include online presence and ease of accessibility of information in social media and on the internet. The company can also improve the position of the brand by carefully placing the logo or the slogan in the customers’ daily activities. The Coca-Cola Company is usually very active in brand positioning. For example, the share a coke market campaign positions the company logo and slogan at the heart of summer celebrations. The company also uses promotional campaigns to position the brand in sports and other activities to keep the brand in the customer’s minds.

Science Marketing and Art Marketing

Marketing requires a combination of science and art to achieve its objectives. The application of scientific strategies in marketing allows marketing managers to collect sufficient data. It allows managers to track marketing expenditure and effectiveness. According to Gross (2017), the ease of data collection and marketing research through digital marketing enables the success of marketing strategies. Such a scenario indicates the importance of data collection and market research. According to Gross (2017), the integration between science and art in marketing guarantees the success of any marketing campaign. The organization must find a balance between the art and science of marketing in order to achieve the objectives set. Strategic marketing management is the simply the development of strategies that combine the art and science in marketing. It involves developing the necessary skills and techniques that enable the company to achieve its marketing objectives.

Therefore, market research and branding are simple methods of defining a multifaceted and complex science and art marketing. The discipline involves developing a synergy between the science in market research and the art in branding. The data collected in market research is helping the company to design and develop a unique and lasting market brand. Other marketing strategies whether art or science come into play to make the processes successful. For example, marketing managers can employ strategic marketing to develop strategies for the implementation of research and branding. Similarly, the marketing managers can employ product design in branding as described above to position the brand on the products. By combining marketing science and art, marketing managers develop strategies to achieve marketing objectives. Therefore, the two forms of marketing must work together for the betterment of the marketing department.

References

Burns, A. C., Bush, R. F., & Sinha, N. (2014). Marketing research (Vol. 7). Harlow: Pearson.

Gross, J. (2017). Marketing: The Convergence of Art and Science. Forbes. December 1. 2017.

Latif, W., B. Islam, A. & Mdnoor, I. (2014). Building Brand Awareness in the Modern Marketing Environment: A Conceptual Model.

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I hope you enjoyed reading this post on Science Marketing and Art Marketing. There are many other titles available in the Marketing Dissertation Collection that should be of interest to marketing students and practitioners. There are many dissertation titles that relate to other aspects of marketing such as branding, corporate advertising, marketing strategy and consumerism to name a few. I would be grateful if you could share this post via Facebook and Twitter. Feel free to add your thoughts in the comments section. Thank you.

UK Fashion Changes in the Clothing Market

UK Fashion Clothing Market

The UK fashion clothing market has been hit by many changes in the last decade. The UK’s plan to exit from the European Union has been one of the main changes that are facing business in the UK. The EU has been regulating trade in its member states and the UK’s exit will present a new environment for fashion retail market in the country (Dhingra, Ottaviano, Sampson, & Reenen, 2016). UK Fashion retailers have been enjoying free trade under the membership of the EU. In the past cloths are presented in shops where buyers could come and buy. Then come e-commerce. Cloths are sold over the websites and marketing is done through social media, a change that many clothing retailers are struggling to come into terms with. The economic recession presents an environment where businesses struggle to grow due to low sales and the high cost of doing business. This report will refer to Zara fashion Company to analyze the key changes in the UK fashion clothing market and suggest strategies to fix the changes.

UK Fashion – An Introduction to Zara Fashion Company

Rosali Mera and Amancio Ortega founded Zara in 1975 in Galicia, Spain, under the name Zorba. They later changed the name to Zara after noticing that there was a bar several meters away which had the same name. The company opened many other outlets in Spain during the 1980s. During the 1980s, Ortega started using a group of designers rather than individual retailers to respond to the new trends in the market in the fastest way possible. He also introduced information technologies to reduce lead times. In 1988, the company started to expand internationally and by 2011, the company had many retailing shops in the UK, China, Estonia, Russia, Philippines, South Korea, India, Australia, and South Africa. The company sells over 480 million clothing items every year in its shops.

In 2010, the company launched an e-commerce site where the cloths can be sold. The site was available in the UK, Germany, France, Portugal, and Italy. After five years, its online services extended to all other countries where it has shops. In 2014, RFID technology was made available in its shops. RFID technology involves fixing RFID chips on clothes before they are sold which notify them when a cloth is sold for an immediate replacement.

Zara retails on both men and women clothes. Children cloths are also sold under the name Zara Kids (Zara.com, n.d.). Zara uses consumer trends in the market to supply the clothes. The company spends less than 15 days before new cloths reach the shops after they have been manufactured.

Changes within the UK Fashion Retail Market

Economic Changes

A report made by the World Bank puts the UK at number fifth in the world of the largest economies. The high population of the UK and enabling infrastructure enables smooth business which makes the country attain the fifth largest GDP in the world after the US, Japan, and Germany. However, the UK was hit by the economic recession in 2008 and the recessionary conditions are just decreasing gradually. Zara has been storing new clothes in its shops twice a week but during the recession period, the target could not be achieved. The recession period presented a high cost of living to citizens making it difficult to buy cloths every time. Zara had to store its clothes in stores for a longer period than expected.

Another economic change that has hit the UK market is increased inflation rates. The inflation rate in the UK reached 3.1% percent in November 2017. This increase in inflation rates translated to increased prices on clothes which make it difficult for consumers to purchase the clothes (Cowling, Liu, Ledger, & Zhang, 2015). Zara stores cloths which have been manufactured in its plant in Spain. The inflation rates in the UK makes the cost of importation to be high which forces the company to sell its cloths at higher prices than before. The consumer confidence in the UK is depreciating due to an unexplained increase in the company’s products. The company is struggling to restore consumer confidence and at the same time sell at prices that can make it make profits.

Corporate taxes has been increasing in the UK. The corporate taxes were 17% at first before they increased to 19% and now the Labour Party promises to increase the corporate taxes from the current 19% to 21%. The corporate taxes are one of the largest expenses of the company as they account for 19% of the profits that are made. Increasing the corporate taxes will lead to a reduction of the amount of money that is shared to the owners of the business (Suárez Serrato, & Zidar, 2016). They increase the cost of doing business which forces retail companies to increase their prices.

Political Changes in UK Fashion

The UK is set to exit from the EU. The company faces uncertainties of whether the importation tariffs will increase and by how much. The company sells which have been manufactured in Spain cloths in its UK shops. The UK and Spain being member states of the EU enjoy free trade. By free trade policies of the EU, the company pays zero importation tariffs to import its goods to the UK. This means that it can sell the sale the cloths at the same prices as those in Spain.

However, the UK’s exit from the EU (Brexit) will come with changes in trade terms which will include the introduction of importation tariffs since the UK will no longer be a member state of the EU. The companies will have to pay importation tariffs for the goods imported from Spain. This will increase its cost and make the company increase the price of clothes. Selling the cloths at high prices than those of the competitors like Arcadia UK fashion group which sell clothes made in the UK will have adverse effects on its business.

The pre-Brexit policies have not been formulated which brings further uncertainties about how the business will be done after the UK withdraws from the EU. The minister of trade in the UK held a meeting with the UK Fashion and Textile Association in December 2018. However, a clear direction was not given to the fashion retailer on how they will do their business after the Brexit.

Technological Changes

The UK provides one of the fasted bandwidths on the continent. The penetration of smartphones in the country has been high in the last decade. This enabling environment has made people within the market to change their shopping preferences to online shopping. People are now preferring to shop over the websites (Peng, An, & Vecchi, 2017). UK Fashion retail companies are facing this challenge by investing in e-commerce and launching shopping websites. Zara has never been left out in this campaign and in 2014, it launched its online boutique in the UK.

Environmental Changes

The recessionary period in the UK presents an environment where business finds it difficult to grow at the expected rate. In as much as Zara Company want to expand by opening more sales in the UK, the environment discourages such a move. The recessionary environment also makes it difficult to make the expected prices and abide to its policy of replacing the stocks twice a week.

Legal Changes

In May 2018, General Data Protection Regulatory (GDPR) came into force. The policy requires every social media firm and e-commerce sites to be transparent on how customers data is used. Zara Fashion Company is affected by the regulation since it owns an online boutique launched in 2014. To avoid litigations, the company should adhere to the General Data Protection Regulatory (GDPR) regulations. In April 2018, the bill passed by the UK parliament came into force. The bill required that all companies whose employee turnover is above 250 to publish the details of the employees including their gender and their salaries. This new rule affects Zara because it has more than 250 employees.

Social Changes

Unlike Spain where the market comprises of one main race with similar culture, the UK market features multi-ethnic cultures. The market has different design needs which should be fulfilled. Different people living in the UK have different design preferences.

Changes within the Micro Environment

Changing trends in the UK Fashion Market

The designs in the clothing market are subject to change within a short period of time. If the clothes are not sold within a short period of time they become useless to the customer and they might never be sold (Grewal, Roggeveen, & Nordfält, 2016). The company uses a group of designers to design every new design that is introduced as a tactic to respond to the changing trends in the market. The company also sells the cloths within a week to avoid cloths saying for long in the shelves which might render them useless. The RFID tag on clothes can monitor the clothes that have spent a long period in the shelves and change them.

Change in Marketing Strategies

Two decades ago Television sets and the print media were the well-known and reliable marketing channels. However, the changes in technology have brought digital marketing where marketing can be done over the internet. Social media marketing is also a new trend in fashion marketing. Social media sites are being used to market fashion products. Links are created on social media pages which lead the user to the website of the retail company (Okonkwo, 2016).

Increased Competition in the Retail UK Fashion Market

The UK market has too many too many fashion companies which bring undue competition in the market. The competition has led to a reduction of prices by some fashion retailers. Large discounts are also being offered to lure customer.

Online shopping

Over the last decade, consumers have a switching motive from shopping in the malls to shopping over the e-commerce sites. Some customers prefer online shopping to shopping in the shops. Retailers in the UK fashion market are exerting pressure by using e-commerce sites to sale their products. The company’s in the market are now required by the standards set by the level of competition to have both selling channels. Zara Company uses its online boutique to respond to such changes in selling strategies. The company has now used its online platform for a period of four years.

UK Fashion Dissertation
UK Fashion Dissertation

Strategies and Tactics to Employ

Open a manufacturing plant in the UK

Zara Company depends on clothes that are made in Spain and transported to the UK. After the UK’s exit from the EU, there will be tariffs imposed on the imports. The tariffs will increase the price of clothes imported by Zara Company. To avoid import tariffs Zara should retail on cloths made in the UK rather than importing its stock from Spain. Zara has four manufacturing plants where its cloths are made. The plants are in Spain, Morocco, Portugal, and Turkey. The cloths made in Spain are freely exported and sold in European Union member states including the UK, Spain being a member of the EU. However, after the Brexit, it will not be easy to transport them under free trade terms to the UK.

Staff Training

One of the challenges in retail fashion market is the ever-changing trends in the market. A new design can register large sales today and become an old fashioned cloth with a year. If such cloth spends a year on the shelves without beings customers will start ignoring it for new fashions. Although Zara has been using trend in the market to sell its clothes, staff training is essential. The staff should be trained on how to respond to ever-changing trends in the fashion market (Dillenburger, 2017). With the incorporation of new technologies in its business process, the company should also train its staff on how to use the new technologies.

The interaction of the staff with customers is also very important in ensuring that the customer buys the product and that the customer is maintained to purchase in the future. The staff should be trained on how to interact well with the customers. Every staff member should be trained in good customer relations.

Using both traditional marketing strategies and Digital Marketing

Both digital marketing and traditional channels like print media and television sets are useful when making advertisements. The company should employ both channels to boost its sales without ignoring either of them. Many people use the internet on daily basis and targeting those people through digital marketing is a wise idea. However, the two channels are not mutually exclusive and television sets, radios, and the print media can be used to reach people. Many people use these channels and digital marketing should never be used in place of them.

Forecasting

Every part of the world has cloths which are highly preferred to others. The company should be carrying research on which clothes to sell to a particular ethnic group as the market in the United Kingdom comprises of many cultures. This will reduce the risks associated with clothes being on the shelves for many days.

Continuous innovation

People in business are continuously innovating new strategies to make more sales. Retailers are not an exception and they should be innovative enough to be ahead of their competitors. A big challenge that is facing the retail market in the UK is increased competition from other retailers. Innovation is a tool that can be used to reduce competition. Innovation can involve using a shared economy by using the resources of other firms to boost sales. There are online platforms which sell various products without being fashion retailers or specializing in a particular product. Zara should partner with such firms so that the firms can be selling the products of Zara on top of Zara’s online boutique.

Recommendations

The Zara Company has tried to be innovative by introducing RFID chips to monitor the movement of cloths and introducing Zara online boutique to boost its online sales. The company and other fashion companies in the UK market should use the following challenges to meet the changes in the fashion market.

  • The company should open a manufacturing plant to avoid import tariffs after the Brexit. The UK might impose tariffs on the goods imported from Spain after the UK’s exit from the EU.
  • The company should use a variety of channels to make sales. Online shopping and shopping in the shops are all important.
  • Digital marketing is becoming popular in the retail market. The company should use both digital marketing and traditional forms of marketing.
  • Innovation is the best tool to use to have a competitive advantage over other companies. The company should be continuously innovating to meet the challenges in the market.
  • Having litigations against a company risks its existence and loss of funds through settling fines. The company should comply with the regulations set by the relevant authorities. It should be transparent on user data usage and should publish the details of its employees.

Conclusion

The changes in the fashion market have been a challenge to Zara and other companies in the market. The Brexit has also brought confusion about how cross border trade will be after the UK withdraws from the AU. Zara retails on clothes which have been by its plant in Spain which puts it under a threat of incurring import tariffs to the UK just after the Brexit. This threat can be met by setting up a manufacturing plant in the UK. Considering all channels in selling products and all forms of marketing can help the company meet the challenges in the market.

Bibliography

Cowling, M., Liu, W., Ledger, A. and Zhang, N., 2015. What really happens to small and medium-sized enterprises in a global economic recession? UK evidence on sales and job dynamics. International Small Business Journal33(5), pp.488-513.

Dhingra, S., Ottaviano, G.I., Sampson, T. and Reenen, J.V., 2016. The consequences of Brexit for UK trade and living standards.

Dillenburger, K., 2017. Staff training. In Handbook of Treatments for Autism Spectrum Disorder (pp. 95-107). Springer, Cham.

Grewal, D., Roggeveen, A.L. and Nordfält, J., 2016. Roles of retailer tactics and customer-specific factors in shopper marketing: Substantive, methodological, and conceptual issues. Journal of Business Research69(3), pp.1009-1013.

Okonkwo, U., 2016. Luxury fashion branding: trends, tactics, techniques. Springer.

Peng, F., An, N. and Vecchi, A., 2017. Cross-Cultural Study of Online User Behavior in Fashion E-Commerce: A Comparison of Britain and China. In Advanced Fashion Technology and Operations Management (pp. 277-293). IGI Global.

Suárez Serrato, J.C. and Zidar, O., 2016. Who benefits from state corporate tax cuts? A local labor markets approach with heterogeneous firms. American Economic Review106(9), pp.2582-2624.

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I hope you enjoyed reading this post on changes in the UK fashion and how it affects the clothing market. There are many other titles available in the Marketing Dissertation Collection that should be of interest to marketing students and practitioners. There are many dissertation titles that relate to other aspects of marketing such as branding, corporate advertising, marketing strategy and consumerism to name a few. I would be grateful if you could share this post via Facebook and Twitter. Feel free to add your thoughts in the comments section. Thank you.

Marketing Concepts Research Dissertations

Marketing Concepts

Title: Marketing Concepts for Marketing Students. Marketing is a mode of communication that exists between an individual or a company and their clients with the intention of selling them their products and services. Being able to communicate the value of a company or an individual’s product or service is a significant aspect or element of marketing. As such, various marketing concepts that including advertisement, promotion, marketing mix, marketing research, pricing, packaging, personal selling, brands, business markets, buying behaviors of customers, retailing, sales management, distribution channels, global markets, innovations, and trends in marketing, among others exist. In particular, this research paper presents an evaluation of marketing mix, market research, and pricing with an intention of creating a further understanding of the concepts. The general understanding is that marketing defines everything under the management process via which merchants and services provided move from being mere concepts to the point where they reach the end users or customers.

Marketing Mix

This concept defines a planned or scheduled mix of the controllable fundamentals of the marketing plan of a product commonly referred to as 4Ps: promotion, product, place, and price. These elements are continuously attuned until the correct recipe that meets the desires of the customers purchasing the product is established, while yielding optimum profit.

In some cases the ‘P’ of product is replaced with presentation. With a combination of the 4Ps, business managers have to avail the right products in the right location or place, at the right timing and price. Essentially, a business is compelled to develop a product that a specific segment or group of personalities want, avail it for sale at a location that those personalities regularly visit, and tag a cost on it or price it such that its value matches the actual value that they feel they obtain from it; and actually implement all this within a duration or time when they are in demand. This whole concept defines marketing mix.

Luan and Sudhir (2010) argue that the 4Ps act as the parameters that an organization’s marketing manager regulate or control, based on the external and internal constraints of the business or marketing surrounding (environment). The objective is to come up with decisions that focus the 4Ps on the clients in the market that is targeted with an intention of creating a perceived product value and give a positive feedback.

In their discussions, Luan and Sudhir (2010) define a product as tangible objects, including services, which are offered by a company or an individual. Decisions that marketing managers can make on products include, but are not limited to choosing a brand name, packaging, warranty, functionality, accessories, services, styling, repairs, quality, support, safety and styling of the product.

Place defines where buyers obtain a good or service from. Under the element of ‘place,’ a variety of questions can be asked to meet the quest or need of customers (Luan & Sudhir, 2010). For instance, a marketing manager may want to know how to access the right and best distribution channel, determine whether to use sales force, or may be become part of a trade fair, make online product submissions, or better yet still mail product samples to catalogue organizations or companies. Imperative to note under this concept is equally determining what one’s competitors are doing, how they do it, the lessons that can be learnt from their actions, and finally determine a differentiation formula.

Pricing or the cost charged for a service obtained or a product purchased is equally a significant element of the 4Ps. According to O’Cass and Heirati (2015), one requires to work extra hard to determine what customers really want, in addition to identifying where a majority of them do their routinely shopping. Important to note is that getting just one of this elements wrong could be a recipe for disaster. For instance, a product might be priced too high or too low with an intention of attracting clients, but if the target group have no capacity to afford the costly product or its too much cheap or below their standard, then the product might not be bought or assumed to be of low quality respectively (O’Cass & Heirati, 2015). Essentially, getting right the marketing mix acts as a leading edge where any marketing manager should begin when thinking through their plans to offer a particular service or product, and it majorly helps them evade simple mistakes.

Within the context of marketing mix, the element of ‘promotion’ takes into consideration the numerous dimensions of marketing communication, and specifically the communication of the details of the product or service with the intention of achieving a positive response from the customers (Powers & Loyka, 2010). Decisions that can be made under marketing promotion or communication include whether to use a push, pull, or other forms of promotional scheme, identifying the modes of doing adverts, sales improvements and promotions, publicity works and public relations, the budget for marketing communication, in addition to making use of individual selling strategies or a sales team (Powers & Loyka, 2010).

Generally, the elements of marketing mix are used to help marketing managers to successfully position their goods and services, or what could be referred to as market offers. The aforementioned elements or the 4Ps of marketing are used by marketing managers to define their marketing options based on their product, place, price, and promotion (4Ps). This kind of model can be used when an individual is making plans for a completely new business venture, in the evaluation of an already existing business offer or product, and finally in the optimization of the effect or impact of a venture in regard to a targeted market.

Product; the product refers to the physical commodity that is sold to the market by the seller. The product forms an important element in the marketing mix because it gives different products the require matrix. The product might occur both in physical and invisible form. Products which are visible might be categorized further on the basis of service, warranty, packaging and stature. Product differentiation is based on increased level of appearance and product formation.

Price; price is the amount of money which is paid as an exchange of the products. Prices vary due to the quality and quantity of commodities and services. The major reason why price forms an extensive aspect of marketing is because of the relationship between the price levels and the movement of goods from one location to the next. Price includes discounts, leases, promotion, and profits. Marketing mix has been related to the number of companies which operate within the designated places. This is the most significant element among the 4Ps of marketing mix because it is the only one that generates an income for the company. The other three elements actually have impacting costs when implemented. For instance, it will cost the business money to design and develop or produce a new product, distribute it, and finally promote it in the market.

Promotion; Promotion refers to the marketing of products to the designated buyers and sellers. Since prices could be extremely large, marketing is an important concept because it helps to eliminate any disadvantages related to the product. The major role of promotion is to reduce competition between different products. Promotion also helps in determination of the worth of other customers in relation to the to the promotion and advertising decisions.

Marketing Concepts Research

Marketing managers are in need of data or information so that they successfully introduce a service or product that would create a lasting value in the mind of clienteles (McDaniel & Gates, 2005). However, the opinion of value is personal, and whatever clients attach so much value to this year may be completely different from what they would attach value in the coming years or years. In this manner, the attributes that create a perception of value cannot merely be deduced from ordinary information.

Rather, a marketing manager must collect and analyze data. The objective of the concept of marketing research is to provide managers with the facts in addition to informing their direction or decisions, more specifically those that involve marketing choices. In order to fully benefit from the concept of marketing research, the individuals that make use of the collected data have to understand the process of carrying out the research in addition to considering its limitations (Malhotra, 2010).

Burns and Bush (2000) describe the process of marketing research to include the collection, analyzing and interpreting data or information as regards a market, and in regard to the services or products to be offered for sale in that market, plus about the history, current and possible clients for the service or product ; research delving into the desires of the targeted market of business, characteristics, location, and needs of the targeted business market, the overall industry, in addition to the specific competitors that the business has (Burns & Bush, 2000).

The foundation of all the successful business ventures is accurate and detailed information since it issues a wealth of data or information as regards prospective and existing clients, the competitors, and the general industry. It gives business owners the freedom to determine the viability of a business before committing considerable amounts of money or resources to the business venture.

Marketing research provides a marketing manager or the overall company with the relevant information that would help them solve their likely future challenges, more so in the marketing segment, which makes it a critical aspect in the process or managing and planning a business venture (Burns & Bush, 2000). In actual sense, business strategies that include market segmentation (spotting particular groups within a target market) in addition to product differentiation, which simply means identifying the distinguishing factors of a business’ products or services as compared to those offered by competitors, are completely impossible to establish or develop minus doing a marketing research (Zarrella & Zarrella, 2010).

Marketing research entails two major forms of data, namely primary and secondary information. Primary data refers to the results of a research that a business owner decides to compile in person, or perhaps indirectly hire a different individual to perform the action of collecting information. Contrarily, secondary data makes reference to the information that is already compiled and organized in a specific format minus the researcher’s involvement. Sample secondary sources include reports from trade unions or associations, government agency studies, in addition to other business ventures within the same industry. Secondary data is commonly used in this process.

Marketing Concepts Research
Marketing Concepts Research

For marketing managers, the significance of research is not only limited to learning but also a vital element when making good managerial decisions. Essentially, marketing research provides individuals with a general picture of what is taking place or likely to happen. If implemented well, marketing research avails offers as regards the alternative choices or decisions that can possibly be made within a company. For example, a properly done research can offer managers alternative methods on how to enter new markets and as well help them introduce new products. Marketing decisions are known to be less risky, more so when the marketing manager has a variety of options to choose from.

Marketing research is considered as the foundation of business marketing. Marketing decisions require to be substantiated through research so that the customers view the business as favorable. In addition, marketing research can help a business stand up to other external pressures in addition to competition. The general understanding is that all the areas covered under marketing, in addition to making marketing decisions, ought to be supported with some degree of research.

Even though marketing research is significant in making marketing decisions, it does not require any further elaboration to attain its purpose. Many a time, taking time to do a quick search via the internet will avail the required data or information. However, there comes a time when more complex processes of research are requisite, in addition to understanding the correct method of conducting a research, whether they are doing the work at a personal level or have hired someone to do it can make the projects much more successful.

Trends in Marketing

The current decade has seen an increased number of innovations. The innovations in marketing have seen increased incorporation of technology and marketing. Several trends have developed for the past five years and their impact on marketing has been massive. The trends include;

Virtual reality; virtual reality emerged in the late 2000. Virtual reality incorporates online marketing of products with virtual content. Virtual reality encourages each firm to provide its customers with a 360 immersive story. The engagement between the commercials provides a call to action procedure in each firm. Increased online marketing has resulted in increased use of apps like Facebook to make sales. Facebook has been at the forefront in provision of marketing for various products.

Social media marketing; Google has revolutionized marketing strategies for the past three years. Increased level of functionality and presence of Facebook and twitter in the search engines has increased the marketing probabilities of different companies. The major revolution accompanied by these marketing strategies is the increased level of procedural sales that have increased the sales in different companies. Digital migrations and increased connectivity of social media sites has been the major reason why social media marketing has gained much more ground.

In a recent study, Facebook has been voted as the most appreciated social site among the other sites. Incorporation of advertising portals in Facebook has helped many business advertisements to receive much more attention. The conversion portal on Facebook includes the dominant pictures that could be included when making promotion on Facebook. The attribution model on twitter and Facebook is shown by the existence of both the website and an email which is used to log in. The attribution panel provides an extensive channel that is important for the formation of correct provisions. Twitter and Facebook have been the foremost media sites to embrace development of an expensive direct channel. The direct provision of advertisement is an essential strategy developed by Facebook in order to achieve this.

Green marketing; Global warming is a major topic in 21st century. Increased demand for proper products has seen increased embrace of for green products. Green products mean that the world is resolving to use products that don’t emit much carbon or excessive methane. The target audience for green products revolves around increased appreciation for products that use less energy and don’t emit any poisonous gases to the environment. The concept of green energy has been used in marketing especially for products that use power. Increased appreciation for clean energy has led to reduced number of products that use black energy. Green energy has been used by majority of firms to increase the level of marketing (Blick, 2008).

Marketing automation; marketing automation is mostly based on the production of content based advertisement methods in the markets. The current market systems have been based on the increased level of competition that has been witnessed in production procedures. Marketing automation is a new concept because it has based its advertisement modes on content reproduction and analysis. Increased level of production has increased the number of sales per production unit. Improved marketing choices have increased the level of sales funnel within certain regions. Sales automation has led to increased sales in different firms because of the increased level of segmented customer levels (In, 2015).

Better relationship marketing; relationship marketing refers to the relationship between the buyers and the sellers in the appropriate way. Over the past years, increased level of relationship marketing has led to increased number of sales. In the past five years, better relationship marketing has been revolutionized through better marketing. Marketing dynamics for a long time have been based on the relationship between consumer surpluses and producer surpluses. Producer surplus means that there is a sale of an extra unit of production. Better relationship management limits the number of sales per unit to a specified number only.

The dynamics of marketing have been improved through better relationship management. Better relationship management has been enhanced by the adoption of smartphone technology. Smart phones possess apps which have been utilized by different companies in order to make increased sales per unit. A consumer who possesses a strong internet connection is likely to access more services. Dynamic trends in the marketing field have led to increased sales. The marketing of concepts through automation could be altered through the use of increased investment in content management and analysis. The concepts on marketing have been enhanced through the development of extensive development.

Marketing Concepts References

Burns, A. C., Bush, R. F., & Sinha, N. (2000). Marketing research (pp. 599-602). Upper Saddle River, NJ: Prentice Hall.

Zarrella, D. (2010). The social media marketing book. Beijing: O’Reilly.

Blick, D. (2011). The ultimate small business marketing concepts book. Surrey: Filament Publishing.

O’Cass A, Heirati N. (2015) Mastering the complementarily between marketing mix and Customer-Focused capabilities to enhance new product performance. Journal of Business and Industrial Marketing.

In Tsiakis, T. (2015). Trends and innovations in marketing concepts and information systems.

Luan, Y. J., and Sudhir, K. 2010. “Forecasting Marketing-Mix Responsiveness for New Products,” Journal of Marketing Research (47:3), pp. 444-457.

Powers, T. L., & Loyka, J. J. (2010). Adaptation of marketing mix elements in international markets. Journal of global marketing, 23(1), 65-79.

Zarrella, D., & Zarrella, A. (2010). The Facebook marketing book. ” O’Reilly Media, Inc.”.

Malhotra, N. K. (2010). Marketing research: An applied orientation (Vol. 834).

McDaniel, C., & Gates, R. (2005). Marketing Research.

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Experiential Marketing Dissertation

Experiential marketing (EM) is known to increase overall and spontaneous brand awareness, purchases and recommendations by huge values in the market. This mode of marketing is fast gaining relevance in the market and becoming the necessary tool for marketers in general and specific for brand managers. With this importance, there has been a growing need for the use of experiential marketing in organizations thus indicating their relevance and effectiveness especially in the perishable market and the fast moving consumer goods (FMCG) sector. In determining the relevance and appropriateness of experiential marketing a relationship between the marketing strategy and other variables will be explored, the positive consequences of these variables on experiential marketing is to indicate the relevance and appropriateness of the marketing mode.

In regards to the effectiveness, relevance and appropriateness of experiential marketing, the study sought to establish the relationship between experiential marketing, the consumer behavior or the behavior of purchaser, experiential value and customer loyalty in the fast moving consumer goods (FMCG) sector. In executing the study, a population of 1090 respondents was evaluated with the survey design being cross-sectional. In this population a sample of 381 was drawn.

Questionnaires were administered to assist collect the responses. In establishing the relationship of the study, there was a rigorous data analysis that was carried out. The relationship would help determine the relevance, appropriateness and effectiveness of EM. From the study, the relationships between the experiential marketing, consumer behavior, experiential value and the loyalty of the customer were found to be positive and quite significant in determining the appropriateness of the marketing mode. Upon carrying out regression analysis, the results showed that EM, value and consumer behavior were significant predictors of customer loyalty. Given that the model used could only explain the customer loyalty of FMCG products by 45.8% in variance, the study recommends that further research should be done with other factors in place or put in consideration especially those that were not part of the model. In carrying out a further research, a longitudinal study is recommended.

Dissertation Objectives

  • To carry out a detailed literature review of previous literature concerning the effectiveness, appropriateness and relevance of integration experiential marketing in organizations.
  • To examine the appropriateness of EM
  • To establish the relevance of experiential marketing
  • To determine the potential effectiveness of
    EM and experiential value.
  • To determine the relationship between
    EM, experiential value and customer loyalty

Experiential Marketing Dissertation Contents

1 – Introduction
Background to the Study
Statement of the Problem
Purpose of the Study
Research Objectives
Research Questions
Scope of the Study
Subject scope
Geographical scope
Time Scope
Significance of the Study
Conceptual Framework

2 – Literature Review
Customer Loyalty
Experiential Value and Purchase Behavior
Experiential Value and Customer Loyalty
Purchase Behaviour and Customer Loyalty
Consumer Relationships and Emotions with Brands
Experiential Marketing Trend
Schmitt’s 5-Stages Experiential Marketing Strategy

3 – Methodology
Research Design
Study Population and Area
Sample Size and Sampling Technique
Data Sources and Data Collection Instruments
Measurement of variables
Validity and Reliability Instrument
Data Processing and Analysis
Limitations to the Study

4 – Analysis and Discussion
Survey results
The Relationship between the Study Variables
Customer Loyalty
EM and Purchase Behavior
EM and Experiential Value
EM, Experiential Value and Customer Loyalty
Regression Analysis

5 – Discussion
Customer Loyalty
EM and Purchase Behavior
EM and Experiential Value
EM and Experiential Value and Customer Loyalty

6 – Conclusions and Recommendations
Recommendations
Areas for further study

References

Appendix
Questionnaire

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Digital Branding Marketing Dissertation

Digital Branding – The Impact of Digitization on the Branding Process: Economic Opportunities and Risks

Digital Branding – The emergence of digital economies and markets has necessitated companies to rethink how they influence and create consumer impressions. Even today, consumers are still brand thinking is still exist just as in the traditional days. However, today, the competition is much stiff and the market much complex. Brands have to depend on social media to engage their consumers, sell their products and also create a following. Today, a brand is seen as a competitive edge of reference, a guarantee to consumers for long term sustainability and security, and dedication to delivering emotional, functional and economic benefits. Such a definition only increases obligations for business to perform, keep innovating while simultaneously keeping cost down. Overall, branding is just a way to justify the price, the quality, functionality, and the product appeals.

To achieve this, companies, even the biggest of them all must depend on digital channels to establish responsive engagement programs for communicating their justifications. However, for the process to be effective, they must understand the consumer because contemporary branding must adopt a consumer centric approach. More importantly, branding is about creating an exceptional experience and lasting impressions in the minds of consumers. Basically, a firm must be able to command attention of consumers with each new product, invention or development. Companies such as Apple who are the global leaders in sale of electronics are able to command such attentions. They have been able to establish themselves as an authority in the field of electronics. Essentially, this is the goal of every small or large corporations. Each company wants to have a dominating factor that differentiates themselves from competitors. This is why there is so much potential in digital branding. They have no boundaries when it comes to engaging consumers.

Dissertation Research Questions

  • How can digital branding contribute to SME’s growth, development and capacity to compete in today’s markets?
  • What inputs and factors determine successful digital branding?
  • Which process of digital branding holds merits in garnering more opportunities and eliminating risks?
  • What is the best way to increase conversation rates to more sales, better visibility and consumer engagement?
  • How to make digital branding data actionable?

Digital Branding Marketing Dissertation
Digital Branding Marketing Dissertation

Dissertation Contents

1 – Introduction
Problem Statement
Research Questions and Hypotheses
Research Questions
Hypotheses
Significance and Purposes of Dissertation
Methodology
Dissertation Structure
Limitation of Study
Definition

2 – Literature Review
Historical Review: Evolution of the Branding Process
Branding before the 1970s
Branding in the 1970s and 1980s
Branding in the 1990s and 21st century
Theoretical Review: Theories of Digital Branding
Customer Based Brand Equity Theory
Applying the Customer Based Brand Equity Theory
Empirical Literature
Dynamics of Digital Branding in an Interactive and Participative Business Environment
Digital Content and Online Presence
Digital Communication Model
Digital Customer Experience
Digital Branding Communication Tools
Content Branding
Social Media Branding
Brand Identity, Image, Trust, Loyalty, Reputation, Equity in Digital Era
Brand Identity
Brand Image
Brand Trust and Reputation
Brand Loyalty
Collaborative Branding
Corporate Branding
Consumer Behavior in Digital Marketing
Consumer Behavior and Behavioral Biases
Innovation in Digital Marketing – Brand Leveraging and Brand Building
The Red Bull’s Brand Leveraging Strategy
Innovative Brand Building
Content Integration – User and Firm Generated Content
User Generated Content (UGC)
Firm Generated Content (FGC)
Digital Branding Story Telling and Consumer Engagement
Storytelling in a Branding Perspective
Storytelling on Social Media Platforms
Brand Reputation Management – Organizational Rejoinders to Negative Brand Stories
Online Reputation Management
Monitoring – Analyzing – Influencing
Digital Branding Implication on Offline Brand Management

3 – The Ultimate Digital Process – Case Studies of Digital Market Leaders
Uber Digitalization Process
Amazon Digitalization Process
American Express Digitalization Process
Airbnb Digitalization Process
Tesla Digitalization Process

4 – Findings and Analysis: Economic Opportunities and Risks in Digital Branding
Statistics – Visual and Informatics
Data Tables, Figures, and Statistics
Confirmatory Analysis
Exploratory Analysis
Descriptive Analysis – Demographics, Quotations, Data Paraphrasing
Economic Opportunities in Digital Markets
Opportunities in Growth
Opportunities in Product Development
Opportunities in Service Improvement
Opportunities in Diversification
Opportunities in Lead Generation – Cross Sell, Upselling, and Retaining
Increase in Operational Efficiency
Finances – Higher Profits, Less Costs, Pricing, Underwriting
Brand Extension
Risks in Digital Markets
Risks in Reputation Management
Risks in Competition – b2b Engagement
Risks in Content Integration and Channel Conflict
Financial Risks – Budgets, Lower Revenue, Price Volatility
Cybercrime
Obsolete Models, Strategies or Products/Services
Inaction and Lower Retention
Distribution Challenges

5 – Discussion
Compare Findings to Theories
Brand Reputation
Brand Image
Brand Identity
Answering the Research Questions
Answering the Hypothesis
Practical Implications of Dissertation
Pedagogical Implications of Study
Future Areas of Research
Creating an Action Plan for Digital Markets

6 – Recommendations
Choosing a Brand Personality
Winning Strategies in Digital Markets
DRIP Framework
Blue Ocean Strategy
Literacy in Digital Branding
Creating Responsive Digital Platforms
Creating Digital Content
Integrating Digital Platforms

7 – Conclusions

Bibliography

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