Anushka Dsilva – 40121289
Unit 3 – P1M1
According to Philip Kotler, “Marketing is the science and art of exploring, creating, and
delivering value to satisfy the needs of a target market at profit. Marketing identifies
unfulfilled needs and desires. It defines, measures and quantifies the size of the identified
market and the profit potential. It pinpoints which segments the company is capable of
serving the best and its designs and promotes the appropriate products and services.”
I would simply define marketing as a social practice exercised by businesses to generate
profit by exchanging their finished goods/services with money from interested people. It’s
more about delivering desirable goods to appropriate people, at a decent place and time.
Source: https://heidicohen.com/marketing-definition/#:~:text=Philip%20Kotler%20defines
%20marketing%20as,identifies%20unfulfilled%20needs%20and
%20desires.&text=Marketing%20is%20meeting%20the%20needs%20and%20wants%20of
%20a%20consumer.
For Boohoo to be a successful business, they must ensure that they have chosen the right
products and services according to their goals and target market i.e. 16 to 24 years’ olds.
Since it’s an online retail business, Boohoo would want to keep making increased sales to get
better profits. This business would have its aims and objectives to stand the highest place in
the market. So in the first stage, they will need to do market research to know the right
products or service i.e. the current trends, styles and fashion preferred by 16 – 24 years olds
(especially women) in the UK. After researching, the design department of Boohoo will take
over to sketch the right patterns and style. The production department will then fabricate the
generated designs. After finishing the production and packaging, the finished goods will be
available for consumers to buy (online) via marketing. To understand this in-depth, I will
now explain how marketing works by applying marketing techniques to Boohoo:
How does Boohoo use marketing?
Unit 3 – P1M1
According to Philip Kotler, “Marketing is the science and art of exploring, creating, and
delivering value to satisfy the needs of a target market at profit. Marketing identifies
unfulfilled needs and desires. It defines, measures and quantifies the size of the identified
market and the profit potential. It pinpoints which segments the company is capable of
serving the best and its designs and promotes the appropriate products and services.”
I would simply define marketing as a social practice exercised by businesses to generate
profit by exchanging their finished goods/services with money from interested people. It’s
more about delivering desirable goods to appropriate people, at a decent place and time.
Source: https://heidicohen.com/marketing-definition/#:~:text=Philip%20Kotler%20defines
%20marketing%20as,identifies%20unfulfilled%20needs%20and
%20desires.&text=Marketing%20is%20meeting%20the%20needs%20and%20wants%20of
%20a%20consumer.
For Boohoo to be a successful business, they must ensure that they have chosen the right
products and services according to their goals and target market i.e. 16 to 24 years’ olds.
Since it’s an online retail business, Boohoo would want to keep making increased sales to get
better profits. This business would have its aims and objectives to stand the highest place in
the market. So in the first stage, they will need to do market research to know the right
products or service i.e. the current trends, styles and fashion preferred by 16 – 24 years olds
(especially women) in the UK. After researching, the design department of Boohoo will take
over to sketch the right patterns and style. The production department will then fabricate the
generated designs. After finishing the production and packaging, the finished goods will be
available for consumers to buy (online) via marketing. To understand this in-depth, I will
now explain how marketing works by applying marketing techniques to Boohoo:
How does Boohoo use marketing?
