BUSI0011 Business Faculty Management - Free Samples to Students

The management of business functions is dependent upon the various business management tools like the sales and marketing principles. The marketing principles like 4Ps of marketing, corporate social responsibility and other tools are used to manage the business operations and processes properly. This could help to understand the purchasing behaviours and patterns of customers in the different market segments and then implement effective marketing strategies for proper disctribution and pricing of products and services (Epstein and Buhovac 2014). The major business problem faced could be the lack of proper pricing and distribution of products and services. Lack of pricing could elad to customer dissatifaction and even result in decline of sales, furthermore degarde the profit level for the company. If the products are not distributed proeprly, then the customers wpuld be unable to access them proeprly and the sales would fall gradually.  The four principle components of marketing are product, price, place and promotion while the values and benefits are provided to the customers through the management of safety and quality standards and ensuring that those are made available at the right places and at the right price (Jobber and Ellis-Chadwick 2012).

Rational for research: The rational of research mainly illustrates the problems that could be faced if the marketing principles would be ignored. The marketing principles could be used as effective business management tools used for the purpose of enhancing the products’ features, setting the right prices of those products and ultimately making those accessible to the customers by distributing those properly in the various market segments. Ignoring the principles of marketing could lead to higher costs incrred for managing the business practices and it would also be difficult to understand the buying behaviours and patterns of different market segments (Nowak et al. 2015). The research rational illustrates the business problem related to the improper pricing and distribution of products and services. If prices are not set properly, then the sales of products would decrease and the profit level could also reduced largely. When the products ldievered by the company would be unaccessible to the customers, then also the company migth face loss.

Research aim: The aim of the research is to analyse the impact of marketing principles on the business management practices for a business organisation. The aim of research is to develop proper pricing strategies and enable product differentiation for distrubuting the produts in right market segments and ensure that the products can be easily accesible to the customers.  

Research question/s:

· What could be the probable impact created on the business management practices by using the various marketing principles?

· How could the marketing principles could help in setting right prices and enable distrubition of products through proper promotional strategies?

· Why does the major marketing principles play important roles in enhancing the products’ features, setting the right prices, distribute and finally promote those to grab he attention of the customers?

· What suitbale recommendations could be provided for making sure that the business management practices’ efficiency would be improved?

The research philosophy that is found to be most suitable can be the post positivism research philosophy whereas the research approach considered as effective is the deductive research. The most suitable research design could be the descriptive research design because it would consider the existing articles consisting of information and data and conduct the research in a detailed manner (Armstrong et al. 2014). The data collected would include both qualitative and quantitative data where the qualitative data would be the responses of managers whereas the quantitative data should be the responses provided by the respondents, i.e., the customers. The non-probability sampling strategy would be used because the convenience sampling process would allow for gathering samples in the form of data from the managers who would be called in for interviews based on their time convenience. The purposive sampling could be used as well based on judgments whereas the new addition could be the snowball sampling technique (Buchanan, Boddy and McCalman 2014).

Ethical issues can arise when confidentiality of individuals is not maintained and even the private information about the respondents is disclosed without their consent. Lack of privacy could, result in the loss of information, further create ethical issues (Epstein and Buhovac 2014).

References

Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing (No. 7th). McGraw-Hill Higher Education.

Nowak, G.J., Gellin, B.G., MacDonald, N.E. and Butler, R., 2015. Addressing vaccine hesitancy: the potential value of commercial and social marketing principles and practices. Vaccine, 33(34), pp.4204-4211

Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia.

Buchanan, D., Boddy, D. and McCalman, J., 2014. Getting in getting on getting out and getting back. In Qualitative research in business and management: practices and preoccupations. SAGE Publications Inc..

Epstein, M.J. and Buhovac, A.R., 2014. Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts. Berrett-Koehler Publishers.

Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing (No. 7th). McGraw-Hill Higher Education.

Nowak, G.J., Gellin, B.G., MacDonald, N.E. and Butler, R., 2015. Addressing vaccine hesitancy: the potential value of commercial and social marketing principles and practices. Vaccine, 33(34), pp.4204-4211.