Business Studies Notes

In the context of global expansion and competition of numerous businesses, effective marketing management is one of the key factors of success, playing an essential role in obtaining competitive advantage. Hence, the success of a company is determined by its ability to identify customers’ needs and offering products and/or services to satisfy them.

Question: Outline the marketing process and explain the importance of each element of the marketing plan.

This is when the business says anything that is untrue about the product which is being sold. This could be the description of the materials in the product or how it was manufactured. It would be a crime if the seller knows or is reckless about the accuracy of the statement. Example of this would be a business saying that

1. Complete the table below with descriptions of different methods of communication. You should include two verbal, two non-verbal and two written methods of communication.

BMGT 380 Exam One Statutory Interpretation 1. Plain Meaning Rule: Courts are supposed to apply and interpret statutes (法令) according to their usual or ordinary meanings. 2. Legislative History (when 1 conflicts with 2，consider 2 first): if legislative history suggests a different outcome than plain meaning rule, the court then will mostly likely do what the legislative history suggests.

3. Defining the firms marketing scope – basing it on customer satisfaction; comparisons to competitors; and maintaining strategy development

Marketing strategy is the fundamental goal of increasing sales and achieving a sustainable Marketing strategy includes all basic short-term and long-term activities in the field of marketing it deal with the analysis of the strategic initial situation of the company and the formulation, evaluation and selection of market-oriented strategies and therefore contribute to the goals of the company and its marketing objectives this are very helpful to the organization Growth in marketing strategies Growth of a business is critical for business success, so using strategies such as horizontal, vertical, diversification and intensification will all benefit a business’s growth, be it long term or short term. Horizontal Integration Horizontal integration

“Marketing strategies can have a broad impact on the business in terms of instilling a marketing orientation among all those in the firm: the way of thinking or philosophy of the whole organization. However, marketing strategies can alternatively be seen as dealing only with the development of competitive advantages directly associated with the marketing function such as customer loyalty and distribution channel control. In the latter case, the domain is sometimes even further restricted by sole attention to the various element of the marketing mix rather than the more general issues of customer and channel relationships. There are two key

Mariotti & Glackin (2013) provide that development of marketing strategy and competitive advantage is from the "Four P's". The "Four P's" include product, price, promotion, and place. This paper further outlines each of the "Four P's". Mariotti& Glackin (2013) recommend continually referring to the mission statement and vision statement while developing the marketing strategy. This reference helps to build the marketing strategy and form the core competency for the business. The first part of the business plan, the mission and vision statements, are stated below:

Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.

Promotional strategy can be described as the function of notifying, persuading, and influencing the decisions of a customer regarding a particular product and/or service. Notably, certain promotional strategies are geared towards creating primary demand or desire for a general product category. The most common objectives of the use of promotional strategies across organizations include creating the primary demand for a product, expanding markets, maintaining the current market position, and presenting a corporate view on a public matter. The other important aspect in the marketing mix is developing an appropriate pricing strategy for the product and/or service. The main objective a suitable pricing strategy is to ensure that the product and/or service are provided at reasonable prices while the

Thus a company giving a warranty or an extended warranty will signal the consumer regarding its quality.

This assignment is about marketing, where I will produce a marketing strategy for a new or existing product. This unit introduces the major principle and functions of marketing; I will look on customer needs, and creating a suitable strategy or marketing mix, which will satisfy customer needs. In this unit I will experience the marketing process from carrying out initial research about a market, investigating the principles of functions of marketing and the way in which it contributes generating income/profit in a business. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.

Materially misleading about the cost at which such goods or services are available in the marketplace.

We are thankful to Almighty Allah for His help in the completion of the project. We are thankful to our respected teacher Mr. KASHIF SAEED for his keen interest and support in providing us the needed information and we like to thanks for assigning us this project that has helped us in learning the basic concepts of marketing management.