I have been asked to produce a marketing strategy for an existing or new product on the market in the U.K. The strategy will be based on the four P's, Price, Place, Promotion and Product.

... Contents Page 1 Terms of Reference 2 2 Procedure 2 2.1 Text 2 2.2 Electronics 2 2.3 Organisations 2 2.4 People 2 3 Findings 2 3.1 The Principles of Marketing 3 3.1.1 Understanding customers needs 3 3.1.2 Marketing aims and objectives 3 3.1.2.1 Objectives 4 3.1.3 What marketing has to achieve to be successful 4 3.1.4 Marketing principles related to my product 5 3.2 Primary and Secondary Marketing Information 6 3.2.1 Analysis of research methods 6 3.2.1.1 Implementing market research 7 3.2.1.2 Primary Research Methods 8 3.2.1.3 Secondary Research Methods 11 3.2.2 Secondary Research 12 3.2.2.1 Evaluating Research 14 3.2.3 Primary Research 14 3.2.3.1 Evaluation of Results 21 3.3 Methods of analysing marketing opportunities 21 3.3.1 PESTEL analysis 21 3.3.2 SWOT analysis 24 3.4 Developing marketing strategies 25 3.4.1 Marketing Models 25 3.4.1.1 Ansoff Matrix 25 3.4.1.2 The Product Lifecycle 27 3.4.1.3 Boston Matrix 29 3.5 Creating a strategy that meet customer needs 30 3.6 Marketing Strategy 31 3.6.1 Targets 31 3.6.2 Short Term Goals 31 3.6.3 Long Term Goals 31 3.6.4 The Four P's 31 3.6.4.1 The price part of the 4P's 31 3.6.4.2 The Product part of the four P's 35 3.6.5 Promotions 38 3.6.5.1 Branding 38 3.6.5.2 Advertising 39 3.6.5.2.1 Why do firms advertise? 39 3.6.5.3 The Place part of the four P's 40 4 Conclusion 40 4.1 How is my marketing strategy based upon the principles of marketing 40 4.2 How my market research affected my choice of marketing strategy 41 4.3 How external influences affected my choice of marketing strategy 41 5 Evaluation 41 5.1 How likely is it that my strategy will succeed? 41 1 Terms of Reference I have been asked to produce a marketing strategy for an existing or new product on the market in the U.K. The strategy will

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