Introduction:
Bright Light Innovations LLC has invented and developed the Starlight Stove, an inexpensive home appliance for developing countries that provides both and heat and electricity without discharging hazardous wood smoke or kerosene . The stove brings in a new concept to the world of clean energy. Though the company has just started to fly it has a lot of future potential. Because annual revenue for biofuels, solar energy, wind power and fuel cells rapidly increases from 39% in one year which is $40 billion in 2005 to $55 billion in 2006, and it has been forecasted to be a $226 billion market by 2016 (Gangemi,2007). In this scenario the marketing management team of bright light innovations should devise appropriate marketing plan to gain advantage of such a big consumer market and enjoy long term profitability while contributing to the social welfare.
Critical Marketing Issues: Every business must have quality product or service offerings to its consumers. This is why marketing of product and services are one of the most important issue for both profit and not for profit businesss. Organization and is management team must find and analyze all marketing issues and develop appropriate marketing plan to reach its goals and objectives.
These marketing issues are as follows:
• Education beyond boundry: the case for Management Schools
• Promotional strategies in developing countries
• Developing a competitive pricing policy
• Profitability in The age of
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
Marketing plans are critical to the success of any business organization as they help achieve company goals by providing guidance, instruction, and structure to an organization. Effective marketing plans are crucial to the success of all companies large and small. Marketing plans, may look different depending on the size and scope of the organization, but no matter their appearance they serve an important role in achieving and maintaining organizational goals. A well-written marketing plan provides focus and direction for the company and its employees. It organizes valuable information about the product and target markets. An effective plan transforms the marketing strategy into calculated procedures to achieve company objectives. Without a marketing plan confusion can ensue because information is not properly relayed and there is little consistency.
Marketing strategy and marketing are becoming more important elements to the business now than ever before, due to dynamic environment throughout the globe. The changes taking place in the political, social, economical and technological environment have a great impact on the businesses and posing great challenges to the business to survive in the dynamic market place as the world is transforming into the boundary less world. (Crittenden VL, Crittenden WF & Muzyrka DF, 2002)
An understanding of what customers need and value is central to marketing. Creating a marketing strategy and selecting the right marketing strategy will allow the firm to get the data on the right target. After finding the target market the firm can set up the marketing mix. Product, place, promotion and price all are essential to directing the firm to sell the product. The customer is not a part of the marketing mix because the customer should be the target of the marketing mix. Understanding what they customer needs and want will help improve the product and
Marketing issues is the marketing problem which facing by the company. A market where companies can raise finance by issues new shares.
The core success of a business lies in its marketing strategy. Most aspects of your business depend on prosperous marketing techniques. The overall marketing includes advertising, public relations, promotions and sales. Marketing is a process by which a product or service is introduced and promoted to potential customers and the ability to keep a loyal customer base. Without marketing, your business may offer the best products or services in your industry, but none of your potential customers would know about it. Without marketing, sales may crack and companies may have to close or partner with other companies. With a good logo, a great marketing team and nowadays a good website your business could have longevity in today’s economy.
Marketing is essentially a matching process between the needs and expectations of customers, and the organization’s ability and capacity to satisfy them.
Marketing nowadays is the essential element of successful organizations (Kotler, 1999). And of course all products that are produced by companies are made to be sold and provide the profit for producers in this light marketing is the most important tool because it effects profitability and sales dramatically and provide the healthy turnover for the company. According to Kotler marketing is “the process that satisfies needs and wants through an exchange process” (1999). The Chartered Institute of Marketing enhances this definition to 'The management process responsible for identifying , anticipating and satisfying customer requirements profitably '. Marketing is based on several marketing concepts (Appendix 1).
Marketing management is crucial business function. The management function usurp the market share from competitor and
Marketing is the sometimes the soul reason a product is chosen. Whether it is something one needs or it is an everyday service provided, how this is marketed can be the reason one business is so successful and another is not.
Marketing is a very valuable part of the customer and business intamite relationship.Marketing anticipates potential customer needs and once those are identified, the production proccess may begin. Our
Business organizations continue to impress and make customers more satisfied with their goods and services they offer. The focus is majorly on consumer satisfaction and not the volume of the products. To achieve the consumer satisfaction, most business organizations consider proper and timely dissemination of information that will strike a balanced deal between the organization and the consumers. The consumers get what they need and the organization profit from the sales. The process of informing the customers about the value of goods and services with the aim of making sales is called marketing.
Marketing is the managerial process which activities start from developing a product in market and end with consuming the products by customers. Marketing’s two objectives are satisfying the consumers need and achieving organization goals and objectives. Marketing main four elements are product, price, place promotion. Marketing should target their product on the basis of market and product feature as well as the condition of competitors. They should choice such target which gives them competitive advantage. For this, they should understand each element with the market condition. They should choice such target market which sustains in long run benefited. Another importance thing is that the current target is how different and distinguish from the competitors. In this market, they should have SMART objective.
Marketing is termed as an essential element with the help of which any product or service can generate potential outcomes in a best possible manner. The main task of marketing is to stimulate consumer demand for the product, but not limited to this. It also helps the company achieve its goals in the process, the impact of the level of demand, the demand of time and the composition of demand. Marketing is considered a management discipline to define the state of the market. It is a process that allows you to have a vision and a very clear idea of how to approach your market. Therefore, the task of marketing management is to stimulate the creation, adaptation and influence consumer demand. Marketing is the creation,
Marketing helps the business to develop a strong brand, inform the customers about new products or services, influence consumers in some way to buy specific products, assist with sales and provide up-selling services.