Fundamental of Marketing

Marketing: the process of planning and executing of a product, its pricing, its promotion, and its distribution. In addition marketing attempts to manage customer relationships in ways that benefit the organization and its stakeholders. Marketing creates UTILITY (want-satisfying power of a good or service) through the exchange process. Time Utility – Availability of goods and services when people want them. Place Utility – Availability of goods and services at convenient locations. Ownership Utility – Ability to transfer title to goods and services from marketer to buyer. Form Utility – Conversion of raw materials and components into finished goods and services.

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 is about understanding and acknowledging the needs of customers and leaving an impact on developing the absolute best product to meet their needs by the business. Marketing comes into account for any business and how they can develop to be the best and deliver the best customer satisfaction.

Marketing is an important tool for any business. It is how a company makes their product known to the public. Without marketing, the consumers will either not know that the product even exists or will not know all the applications of the product; who makes it, what it is and what it is made from, when came on the market, where it can be purchased, how it can help the consumer and why the consumer should even purchase the product in the first place. According to Tom Ash, Marketing is the process whereby demands for products, services and ideas are anticipated, managed and satisfied (2011).

You will provide your completed assessment for all of Part One in one document with cover page (included in this assessment tool on page 2). You are required to professionally format your document including spell-check and indicating each Task answer [e.g. Task 1 (a.) then the answer, Task 1 (b.) then the answer etc.] according to this Assessment Tool Task requirement. You may lose marks if you have not spell-checked your document (as this is a professional formatting requirement, a business skill). Whenever conducting a Presentation, you must always provide copies of MS PowerPoint slides as evidence for your Trainer/Assessor. Be sure to properly reference your sources of information using the Harvard referencing system. For more information go to:1. Student Handbook - latest version 2. AIPE Connect online resources; or 3. Ask your Trainer/Assessor to provide you with this information In order to determine if you are addressing this assessment adequately in terms of competency/comprehension (prior to due date) a draft copy of your assessment should be discussed during class time in consultation with your Trainer/Assessor. For this feedback/ support from your Trainer/Assessor, you will need to bring to class your “draft copy” with any evidence of the research you have conducted to produce the assessment. AIPE accommodates students with reasonable adjustments to training and assessment. This could include variations in course delivery or assessment methodology and it

According to Coke and its ad agency company Oglivy, the two commonly interested parties discovered that 50% of teens and young adults had not even tasted a Coke. As an advertiser, that is an alarming statistic, since young adults are the future generation in regards to opportunity; consequently, that statistic coincide with that fact that Coke has a 50% chance of existing in the next generation or future. Effective advertising campaigns make consumers feel invited to be apart of specific brands, and it was evident Coke had flopped at that vital element over the past few years. Coke and Oglivvy dedicated an entire campaign to the younger generation by ways of emotional branding strategy. Furthermore, Coke and Oglivvy unveiled the genius marketing

Generation Z is the most diverse demographic group in the United States. It has been recorded there are over 20.9 million tweens with a purchasing power of $BLANK amount. The current tween is being targeted. Different clothing, technological, and food companies have tried different marketing tactics to reach out to this new generation of youngsters. However, some marketers have failed to connect with this group, because certain marketing strategies are outdated and separated from the tween’s view. The primary research is fixated on understanding the habits and interests of tweens.

The customer base in the soft drink industry is the biggest base in the world, filled with an extensive category. According to the publication, “Beverage Digest”, the customer base for soft drinks is 90% of users in the United States alone. The figure of 90% represents a large number of potential customers for PepsiCo. PepsiCo has aligned itself as the beverage of choice for the “New Generation”, “Generation Next”, or just “Pepsi Generation”. The phrases that PepsiCo adopted in their advertising campaigns refer to the markets to which the marketing team deemed “Generation X”. The Generation X consumer has been profiled to range between the age group of 18 and 29. Generation X is deemed to hold high expectations from life and they are always moving about and highly active. Generation X adopts a lifestyle of living only for today, rather than

In the ever expanding world of consumerism and advertising, companies are constantly looking for new ways to sell their products to youth by making their commercials and campaigns more memorable than the competition; thus having to reinvent themselves. The youth generation has become the prime target because they have more spending power than ever before; because of more disposabel income, and increased avenues at their disposal in which to spend their money. Therefore companies spend an enormous amount of money on advertisement to ensure popularity and early brand loyalty. In the last decade, these superbrands are looking towards new and outrageous ways to capture young audiences, although these campaigns are appealing, how effective are

In this paper, I have researched to find out how this grant empire has become and remain so successful. I found out that one of the reasons is because it has been able to maintain the goals and standards that its owner, Mr. Sam Walton has built it upon. Even after his death, Wal-Mart continues to expand and grow in other countries. Wal-Mart is considered one of the top ten global companies today. Mr. Walton’s main goal was to sell products at a low price so that people could live a better life. Another reason is because Wal-Mart uses certain market mix strategies such as the four P”. These strategies, price, promotion, product and place.

Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.

ANSWER:MARKETING AND CUSTOMER VALUE Marketing involves satisfying consumers’ needs and wants. The task of any business is to deliver customer value at a profit.

The Marketing Concept The marketing concept has evolved over the last years, marketing reflects to a key approach to doing business. An organisations objective is to make profit, to do this they have to consider the marketing concept, in order to satisfy customers. For an organisation to be successful should divert its attention away from particular products and towards the interest of the customers. Customers changing their needs and wants influence an organisations strategies and plans. Meeting customer’s needs is the main key in marketing.

In attempt to better understand the field of marketing I read many articles by renowned scholars. However, two articles in particular caught my distinct attention. The first was by Michael Czinkota who researches international marketing issues at Georgetown University and the University at of Birmingham. International marketing has always intrigues me due to the professors that have expressed the need to become international due to globalization. Czinkota asked international executives on views of international marketing that brought up some enlightening terms to my mind. The first that spoke to me were opportunity and contentment. The article speaks about the opportunity that international marketers have to, “…unite the world with a better era of the human race as competitive cooperation supersedes the rules of total competition.” It is in the duty of international marketers to help nations with limited resources to overcome such inequalities and provide opportunities. The next was the term innovation in the sense of international marketing. This form of marketing allows for a rapid growth in innovation and thus further enhances prosperity for the people. Marketers can introduce a product to vast group of people at a rapid pace with use of international tools. Lastly was the description of fairness that is provoked through the use of international marketing in today’s world. With international marketing, the market has gained a better conscious for its products and how they

Marketing is a process of identifying and satisfying the consumer needs and wants by creating or exchanging product.