Marketing Process Of Any Product Or Service

I am going to look at how marketing techniques are used to market products in two different organisations, I am going to look at apple, a private sector business, and the Samsung is also a private sector business. Marketing is the management process that a business carries out, it is responsible for identifying anticipating and satisfying the customer’s requirements, and to help the business to make a profit.

MARKETING IS ALL ABOUT CREATING VALUE. USING BOTH CRITICAL ANALYSIS AND PRACTICAL EXAMPLES, EXAMINE THE EXTENT TO WHICH CREATING VALUE TO CUSTOMERS AND TO THE FIRM ARE AN INTRINSIC PART OF MARKETING TODAY.

Today marketing must be understood not in the whole logic of making a sale “telling and selling “but in the new sense of sustaining customer needs. In the market understanding the customer and his wants is an important task .selling together to please customer needs and form customer relationships.

Marketing helps consumers achieve their goals and objectives by market segmentation. Effective market segmentation portrays segments whose members are similar to one another in one or more characteristics and different from members of other segments. Depending on its goals and resources, a company may choose to focus on just one segment or several, or it may ignore differences among segments by pursuing a mass-market strategy. An example in age segments is the Adeg Aktiv Markt 50+ in Salzburg, Austria, is Europe’s first supermarket for shoppers older than age 50 (Barrett, 2000)

Common necessities and desires have created a competitive nature in the corporate world. Marketing allows companies to face that competition by creating strategic advantages via touch points. These touch points are made to give targeted consumers exposure to companies and their products on multiple platforms such as; store visits, websites, newspapers, magazines, and social networks. Marketers hope that this exposure help consumers to choose their company’s product over other company’s similar products. The online mattress retailer Saatva has made a strong marketing campaign and strategy plan.

The birth of ‘Marketing’ happened centuries ago where vendors in ancient times tried to seduce the oncoming customer by chanting in loud noises and catering to the customer needs by negotiation of price or assumption of what they might need aside from what they were actually looking for. Over the years, this process has been refined, given a

Organizations can build strong customer relationships and value through marketing, and the success of marketing relies on satisfying the customers’ wants and needs by providing them with the best price, product, or service. The American Marketing Association defines marketing 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.” This exchange between customers and a business forms a relationship; a healthy consumer/marketer relationship improves value for both the marketer and consumer (Babin, pg 322). So what exactly is the definition of value? “Value is the relationship of a firm’s market offering and price weighed by the consumer against its competitor’s market offering and price” (Kothandaraman, 2001). Value is in the eye of the customer, which ultimately makes them the value source. Customers ' wants and needs determines the features and characteristics of products and their value. With business markets, the interdependent relationship between the buyer and the seller can be seen as the source of value creation (Ehret, 2004). Value Creation is “The evolution of cooperative buyer– seller relationships in the realm of business-to-business markets, In business markets, it became apparent early on that cooperative buyer – seller relationships can be the source of value creation” (Ehret, 2004) Value Creation is based off of customer

The new product introduction process is heavily reliant on the cross-functional coordination of an entire organization if it is to succeed. The many processes that need to be coordinated and highly collaborative in nature can significantly increase the odds of a new product succeeding in the market. It's the objective of this analysis to provide an overview of the most critical steps and processes needed to ensure a successful new product introduction.

We define marketing as a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. To explain this definition, we examine the following important terms: needs. wants, and demands; products: value and

Before beginning the paper I would like to briefly discuss the companies, I will be talking about in this paper.

The management consultant Peter Drucker once said “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”

Marketing has been defined in a number of ways. Kotler (1983,p.7) defined marketing as a “human activity directed at satisfying needs and wants through exchange processes.” He felt this encapsulated the fundamentals of marketing and went on to present the basic concepts of needs, a state of felt deprivation, that are plentiful and complex, they include basics such as food or clothing, wants which he described as an “expression of human needs, shaped by a person’s culture or individual development” (Kotler, 1972, p. 8), demands, wants that are backed by buyer power, exchanges, “the act of obtaining a desired object from someone by offering something in return.” (Kotler, 1972, p. 10), an exchange can also occur between a person and a television program (Bagozzi, 1975) and transactions, a trade of values between any two parties. The main aim of Kotler’s definition was to highlight the importance of customer satisfaction, and the significance of needs and wants.

Some marketers, feel that the image of a particular channel in which they sell product does not matter- all that matters is that the right customers shop there and the product is displayed in the right way. Others maintain that channel images- such as retail store- can be critical and must be consistent with the image of the product.

Business-to-business markets consist of companies that buy products or services to use in their own businesses or in making other products.

When a product or service is being introduced, it needs to be remembered and referred to and this is accomplished by assigning a brand name. In other words this brand becomes the product/service’s face. Producers of goods have used their brands remains to separate their product since the earliest time. Elation in their products has no doubt played a part in this. More principally, by determining their products they have made purchasers with a means of recognising them should they wish to repurchase the product.