Marketing : A Successful Marketing

1153 WordsNov 3, 20145 Pages
Zachary Harris Professor Renee Porter Individual Paper 2 October 2014 Successful Marketing Marketing is defined as the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large (Pride 298). Marketing is the exposure of what a firm offers for the consumers. A firm’s products and/or services should be at the customers’ fingertips for easy accessibility. Customer service and satisfaction should be a priority of a firm. Customer satisfaction begins with a communication link where the needs of consumers are displayed. This is the marketing concept, “a business philosophy that a firm should provide goods and services that…show more content…
Each function contains numerous activities that contribute to the successful marketing of a product or service. Successful marketing starts with the development of a marketing strategy. A marketing strategy is a plan that will enable an organization to make the best use of its resources and advantages to meet its objectives (Pride 304). Pride states that a marketing strategy consists of the selection and analysis of a target market, then the creation and maintenance of an appropriate marketing mix. The marketing mix involves an incorporation of product, price, promotion and distribution which is created for the satisfaction of specific target market to occur. A target market is a group of individuals or organizations, or both, for which a firm develops and maintains a marketing mix suitable for the specific needs and preferences of that group (Pride 304). When a firm provides a service or product, they have to “target” people that would have the greatest benefits from the use of the service or product. A target market is developed after the completion of extensive research on society to obtain which groups of people or organizations that the products or services will satisfy their needs through a combination of product, price, promotion, and distribution. There are two approaches for target market selection and evaluation: The Undifferentiated Approach and The Market Segmentation Approach.
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