Btec National Diploma Level 3 Unit 3 Introduction to Marketing

The American Marketing Association defines marketing as "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders". (2005) Simply put, marketing is the process by which businesses assess the needs and desires of consumers in order to provide products and/or services to meet those needs in the most efficient and cost effective manner. Truly effective marketers do market research in an effort to understand their target market and create marketing strategies based on the characterization of those in the target area.

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

In the very complicated world of business there are three main things you need to focus on, Marketing, Management and Finance. Now to get more in depth on marketing. Marketing is a group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas to create exchanges that satisfy individual and organizational goals. Marketing ensures that the products consumers want to buy are available at a price they are willing to pay and that the consumers are provided with information about the product features and availability. Marketing is very important, all organizations of all sizes use it. There are some basic principles to marketing. There is the nature of marketing, the strategies of marketing, the buying behavior, and the impact of the environment on marketing. Let’s look more closely at these basic principals of marketing.

The overall concept of marketing is a management philosophy according to which a firm 's goals can be best achieved through identification and satisfaction of the customers stated and unstated needs and wants. Companies should identify the needs of their customer and produce products and

Market research is the method of gathering and analyzing information about customers, competitors and the market. Market research is used when companies want to focus on things like market trends, customer habits and lifestyle, what price customers will pay for a product and what competition exists. This type of research assists companies build an idea on how competitive the market is also business owners can price their products efficiently with the understanding of the current market research.

The task of marketing is to identify consumers’ needs and wants accurately, then to develop products and services that will satisfy them. For marketing to be successful, it is not sufficient to merely discover what customers require, but to find out why it is required. Only by gaining a deep and comprehensive understanding of buyer behaviour can marketing’s goals be realised. Such an understanding of buyer behaviour works to the mutual advantage of the consumer and marketer, allowing the marketer to become better equipped to satisfy the consumer’s needs efficiently and establish a loyal group of customers with positive attitudes towards the company’s products.

International trade is defined by shipping commodities and finished goods between countries, including both exporting commodities and goods from the U.S. as well as importing commodities and goods from around the world. Logistics is the process of planning, implementing, and controlling the efficient flow of goods and services through the supply chain from producer to consumer. Distribution comprises all freight carriers (water, air, trucking, and intermodal) and warehousing. Until recently, most manufacturing organizations took responsibility for the warehousing

Market research helps the organisation to identify the most appropriate marketing mix. The mix should consist of the right

Marketing involves a range of specific information areas designed to be researched and analysed in order to make effective decisions about the future of the business. It involves marketing research; This related to finding out about The Customers – their ages, sex, social groups, income level and lifestyles; The Market – what customers are buying and how much they are willing to pay for that products and/or service; The competitors – they research their

Research and update the case information as much as possible with current research, and then conduct a comprehensive SWOT analysis for USA Today.

To be successful in business, "a consumer does not buy a whole of physical components of the product but it is usefulness, function, satisfaction of consumer's needs, solving the problem, etc" (Dubrouski, , p.1). "That is why the product is a whole of tangible and intangible components which means satisfaction of consumer's needs and desires, solving the problem"(Dubrouski, p.1). Companies and managers must learn to utilize marketing research, as well as, strategy skills to fulfill customers' satisfaction. Management has to focus on exclusive marketing challenges presented by the new era of the 21st century. Management has to be able to utilize inventive, dominant, and cost effective marketing techniques that will support the future success of the organization. Companies must meet,"the increasing importance of services as part of a product (offer, offering package) which cannot be neglected" (Dubrouski, p.1). Exploring the purpose of market research, as well as, evaluating the importance of such research, facilitates managers in realizing the importance of marketing to an organization's success and to be globally competitive.

The marketing concept relies upon marketing research to define market segments, their size, and their needs. To satisfy those needs, the marketing team makes decisions about the controllable parameters of the marketing mix. The concept of marketing has evolved over the time.

of the understanding of marketing in regard to understanding the needs of their customers which may be seen

Those setting up their own business should remember that profitable sales volume is more important

In this task I have been asked to write about what is marketing principles and concepts, and also go though what are the 6 elements of Marketing Mix.