Marketing Management Essay

Competitive advantage - Nundies is an innovative product which provides an alternative to visible panty lines; no other company produces the same type of product

In summary, marketing is very important for a business to achieve success. Many businesses have a difficult time in this area. With the stiff competition, businesses struggle to stand out among others. Other companies resort in unethical and unfair schemes just to win the competition. But eventually find themselves in great loss and failure. As businesses all over the world enter into a gigantic marketplace, every business owner is faced with convoluted market competition. Nevertheless, any entrepreneur can be different and become successful in this matter. In every product sold and in every service provided, patience and hard work should take precedence to ensure quality. Products and services should be marketed honestly, planning should not be done with evil

Discuss what is meant by the term “customer orientation”. Illustrate with examples how companies demonstrate their customer orientation by reference to at least two elements of the marketing mix.

An Analysis of Marketing As defined by Kotler and Armstrong (1994) marketing is “a social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others”. Marketing is an extensive topic. Primarily when we consider what is marketing we think about the advertising, publicity and selling of a product or service. In actual fact the prime concern of marketing is customers, and the establishment and growth of relationships between organisations and consumers. It consists of studying the wants and needs of the customers and how to make the perfect product which is priced, promoted and distributed in the right place to make it

Currently the inflation rate is stable at three percent or less per year, and the consumer price index is steady with approximately 1.5-2 percent change per year.   A stable economy without significant inflation will likely maintain the strong spending power of the consumer. The consumer’s dollar will be stretched further allowing them to purchase more goods. Low inflation rates will also persuade the Federal Reserve Board to keep rates low allowing free economic growth as rates increase.

As one of the leading companies in the niche market specializing in laundry detergent and fabric care, Tide has to continuously make efforts to differentiate itself from new, emerging competitors. In order to ensure brand image and loyalty are constant amidst the changes in the marketplace, the company could utilize descriptive research. One of the most common approaches to descriptive research is in the form of a survey. Surveys provide an understanding of consumer preferences, dislikes, buying habits, and overall perception of a company or brand, which can then be quantified. As technology continues to advance and communication becomes most effective in the digital form, the company could benefit from an online survey distributed across various segments. Additionally, the company could utilize the mall-intercept interview approach, in which shoppers are stopped and asked to complete a survey. In this scenario, the shoppers are already in the buying process or have already purchased, which ultimately could help the company to understand consumer buying behavior and preference.

Businesses are profit-seeking entities. Hence, the main aim of businesses is to survive and grow. In order to achieve these objectives, businesses have to satisfy the consumers’ needs. Marketing helps to realise this through marketing activities. By helping to sell, marketing activities contribute to the creation of wealth. According to the CIM (Chartered Institute of Marketing) “Marketing is the management process responsible for identifying, anticipating and satisfying consumers’ requirements profitably.” In other words, marketing helps businesses to put a product on the market at the right place, at the right price, and at the right moment using the most suitable promotion. For example, a company has no interest in selling solar panel in countries where there are not a lot of sunshine pear year or in selling scholar supplies a long time after the back-to-school period. To elaborate plans for a good or a service, businesses therefore use marketing activities such as the process of segmentation of the market that leads to the identification of a target market (for example, a certain part of the population such as teenagers or family) In order to satisfy its target market, firms manipulation some controllable variables (price, promotion…) also known as Marketing Mix. However, for a company to survive and grow, identifying and trying to anticipate the consumers’ needs is not a sufficient condition. Companies also need to accommodate to the constant marketing environment

Marketing has become a major part of business activity since the marketing revolution in the 1960’s. Keith (1960, p.35) identified that “marketing is emerging as the most important single function in business,” around 50 years since its emergence, marketing is now a fundamental function in any businesses operations. While most people believe that marketing is exclusively about promotion and selling, the marketing process entails conducting many more essential functions and activities before the products are even sold (Kotler, Shaw, Fitzroy & Chandler 1983). As identified by Kotler et al. (1983, p. 4), “if the marketer does a good job of identifying consumer needs, developing appropriate products, and pricing, distributing and promoting them effectively, these goods will sell very easily.” While the concept of selling and promoting are important, they are only part of the much bigger marketing process and mix. This directly correlates to the marketing concept of customer value. This concept is crucial in the marketing process as the organisation will not be able to sell a product unless it satisfies consumer needs and provides them with the ultimate value. For the customer to want to connect with the organisation they must feel they are gaining more from the product than they need to put in (Smith and Colgate, 2007). Due to the necessity to satisfy consumer needs an inextricable relationship exists between successful marketing and the creation of customer value.

Understanding and application Of Marketing Principles Of Kaffel Ltd.   Table of Contents Understanding and application 1 Of 1 Marketing Principles 1 Of 1 Kaffel Ltd. 1 Introduction 2 Task-1 Understand the concept and process of marketing 2 1.1 Explain the various elements of the marketing process. 2 1.2 Evaluate the benefits and costs of a marketing orientation for a selected organization 4 Tesk-2 Be able to use the concepts of segmentation, targeting and positioning 5 2.1 Show macro and micro environmental factors which influence marketing decisions. 5 2.2 Propose segmentation criteria to be used for goodsin different markets. 6 2.3 Choose a targeting strategy for a selected goods/service 7 2.4 Demonstrate how buyer behavior affects marketing activities in different buying situations 7 2.5 Propose new positioning for a selected goods/service 8 Task-3 Understand the individual elements of the extended marketing mix 9 3.1 Explain how goods are developed to sustain competitive advantage 9 3.2 Explain how distribution is arranged to provide customer convenience 9 3.3 Explain how prices are set to reflect an organization’s objectives and market conditions 10 3.4 Illustrate how promotional activity is integrated to achieve marketing objectives 11 3.5 Analyze the additional elements of the extended marketing mix 11 Task-4 be able to use the marketing mix in different contexts 12 4.1 Plan marketing mixes for two different segments in consumer markets 12 4.2

Marketing is a management process which responsible for satisfy customers needs and wants , and it is a social process by which organizations and individuals gain what they want and need through create values and exchange between each others. Marketing gives you an opportunity to gain profits with your business and build long-lasting relationships with customers. There are four elements “4 P’s” of marketing mix : PRODUCT , PRICE , PLACE and PROMOTIONAL STRATEGY

     All companies compete with one another; they strive for excellence and to be the best. They have to compete with each other to win over markets and to be the one who ends up on top. Most businesses are guided by the maxim "nothing ventured, nothing gained" (Spulber 7). Winning a market requires a company to have an aggressive investment and growth. Although many companies try to keep costs down for the consumer, low costs are not always the solution for every situation. It is generally the Chief Executive officer (CEO) who formulated strategies to connect markets. The CEO has to have the ability to for see the future of the company in order to make intelligent decisions. Wal-Mart was founded in

Define marketing and the two goals of marketing. As a company president, explain why each of the two goals of marketing is important to your company. Give examples.

Strategic management develops an organizations plan for how they will do what it’s in business to do. “Strategic management is used to look at and plan the future” (Yakup, & Zeynep Derya 2016). The role of planner for a manager also comes with its challenges, in these cases he must remain calm and resorts to his strategic weapons: employee skills, innovation, social media and bench marking. A manager that can stay calm and in control under a time of uncertainty, are better capable of coming up with a better solution/plan. A manager can do this is by becoming open to ideas and allowing lower organizational levels to make plans this promotes innovation, a better work environment, improved manager-employee relationship, and loyalty to the company.

Emerging in the early 1900’s, marketing strategies are a fairly youthful practice in the world of business. Nearly a century later, product and service exposure has evolved into the focal point of all business strategies. Majoring in marketing with a concentration in fashion merchandising, I regularly seek out new ways to emerge myself in the world of fashion advertising. My focus narrows in on the collision of fashion and its consumers. After conducting thorough research, it is evident that there is a drastic pivot away from traditional marketing methods toward digital marketing strategies. In an age where technology seems just as important as the oxygen we breathe, I uncovered both the positives and negatives of marketing via social media versus traditional marketing methods. Traditional marketing methods include publishing advertisements through outlets such as billboards, magazines, newspapers, and radio broadcasts, while digital marketing channels consist of social media, pay-per-click advertisements, and newsletters. Triumphing these various marketing strategies, Social Media marketing takes the spotlight in a majority of 21st century business approaches. When pondering why the fashion industry chooses social media marketing rather than traditional marketing methods, it is important to take into consideration various factors. The fashion industry chooses this marketing technique because social media marketing reaches a larger audience, creates strong parasocial

Online marketing has many different definitions. However, the most straight forward is “Any positive communication between distributor and purchaser through the digital area (Internet, forums, chat, e-mail, the web, etc.) Which provides for the exchange of requested or necessary information directed to a potential customer’s purchase and a continuing and profitable customer/seller relationship.” (Forester, 1999, p.3) This definition gives the main idea of why many businesses have joined the online marketing segment and why businesses are still joining. On the other hand, the simple definition of marketing is “the process of planning the conception, pricing, promotion, and distribution of ideas, goods, and