Definition Of Marketing : Management Process Essay

Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]

Marketing research is the method/methods that connect the clients, buyers and users to the marketer through data found from research to find and outline marketing opportunities and dilemmas. The general aim of marketing research is to recognize and evaluate how altering the marketing mix which is comprised of 4 features: product, price, promotion and place, influences customer behaviour.

What is Market Research? When you collect and identify data (qualitative data and quantiative) about customers, the market and competitors.

Marketing research is what informs business’s make decisions by helping it to understand the changing dynamics of its market. This involves finding out more about customers, competitors and the overall marketing environment.

Marketing research is best defined as, “a way of investigating and answering questions about human behavior,” (Bont, Et. Al, 2007). Essentially, marketing research is a tool that helps businesses stay ahead of the trends and maintain a competitive edge in the constantly changing global market. Companies that make marketing research a central part of their business plan will see the business grow and develop to not just achieve their business goals, but exceed them. Robert Duboff puts it into perspective in a way that anyone can understand in terms of why marketing research is a valuable tool, “Marketing

Research Function: The collection, analysis, and distribution of all the information the marketer needs to plan, implement, and control need satisfying marketing activates

33) Marketing research is the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.

Place -Place is with reference to distribution, location and strategies of obtaining the products to the client. This includes the placement of your business, shop front, distributors, provision and therefore the potential use of the web to sell products on to customers.

Pricing is very important because it is the only element that generates a turnover for the organization. Price supports the remaining P’s, as they are the variable cost. Pricing is difficult as it must follow the laws of supply and demand. However, the pricing response of competitors must be taken into consideration when

Place: it is very important to choose a good place because we cannot sell product like BMW in Jamaica. So it is very important to have good location where products can reach safely and easily and where there are more customers.

Place – a way of getting the product to the customer and / or how easily accessible it is to customers.

Place- Place matters for any business, place should be easily accessed by customers and parking is available for customers so they do not feel any problems in parking their cars. They should select the place that they targeting the market according to their business.

Marketing plays a key role in today’s business activities which direct the flow of goods and services from the producer. Marketing is also involving the consumer wants and desires. If we have to start analyzing the market flow, we should understand the notion of product and consumer. Market producers should understand the consumer needs and desires and they must analyze before developing a product. Marketing mainly refers many steps like pricing strategies to produce according to the consumer needs and exchanges with the target market. The four P’s according to marketing are

Marketing can be defined as a managerial and social process whereby groups and individuals obtain what they need or desire through the creation of a product, offering it and exchanging the product of value with others. Some of the marketing concepts include needs, wants, and demand; products; cost, value, and satisfaction; transactions and exchanges; networks and relationships; markets; marketers and prospects.

Price – Price is also important because company should set the price according to the quality of their product and to achieve the target of sales they must set the price which can beat all of their competitors who are selling the similar products. Customer must get the value for his money.