Nowadays, marketing has become an increasingly vital aspect which can drive the organization to develop and launch the new product successfully, even though marketing was not the worthiest priority for the organizations during 3-4 decades ago. In order to clarify the importance of marketing role that played in the development and launch of new products, the meaning of marketing needs to be referred. Marketing can be simply defined as “meet needs profitably” (Kotler and Keller, 2012) and “managing profitable consumer relationship” (Koler,2010). It indicates that the key objective of marketing is not only meet the consumer needs and wants but maintain and develop the long-term relationships with consumers. Otherwise, when developing the new …show more content…
According to the survey by researchers, companies which adapt to marketing- orientation were more profitable associated with the extent of inter-functional (Narver and Slater, 1990).in “Easy-Go!” case, this creative business idea completely meet consumer’s needs because of the weariness during travel make consumers prefer to release their hands than move the heavy suitcase by themselves. In this way, it is inevitable that organizations tend to transform to the market-driven business.
Marketing strategy as the overall plan as a whole need to be considered first. Without a powerful marketing strategy, all the efforts during the new product developing process are chaotic and easily to get lost. Because of marketing strategy can guide the company to implement marketing activities successfully and achieve their business goals. Moreover, Kotler and Armstrong (2012) supported this suggesting that developing the strategic planning by giving the rational specific situation, opportunities, objectives and resource of the strategy must be helpful for product long-term survival, and the balance between organization resource utilization and goals achievement should be
A wide range of companies today prefer to adopt the marketing orientated approach to sell their new products rather than using product orientation before.In fact,marketing orientation also helps such companies to earn more profits in the long time.According to Jobber and Ellis Chadwick (2013),marketing orientation focuses on customers need as the primary drivers of organizational performance.However,this is not always the case.Product orientation still be used by some senior executives and this method can help these companies to sell more products and even acquire reliable reputation in the customers.In this essay,first the history of marketing concept development will be discussed and the specific definition of the two kinds of marketing concept will be given respectively.Then these two concepts will be compared by using some examples.The final part will investigate why although marketing orientation is very popular in modern society,some enterprises still adopt the product orientated approach to extend their new products.
How is marketing defined? What is its importance in a company’s success? This paper will discuss and explain different definitions of marketing along with a definition of author himself. In addition, this paper will elucidate the importance of marketing by giving three examples where marketing was adapted with few mistakes resulting in disaster.
In the article Marketing is Everything, the author Regis McKenna emphasizes the significant of managing strategic marketing. He also highlights that the transformation process of marketing and several important marketing elements that lead originations toward success. First and foremost, McKenna compares two periods of companies. Before technology developed, most companies concentrated on sale or product driven. In other words, during that time, products were displayed as the first priority in corporations rather than being customer oriented. Instead of researching customers’ desires and customizing new products for them, manufacturers and sellers did not pay attention to their customers’ needs and only tried to alter their minds to match products.
The purpose of this article is to analyze and explore the characteristics of the marketing plan. Firstly, it will identify the role and nature of marketing plan. Secondly, it will outlines the structure of the marketing plan. Moreover, the paper will determines the each elements in the marketing plan and the linkage between these elements. Additionally, the two misconceptions will be examined. Last, it will conclude the marketing plan is indispensable to the organizations.
Marketing is an important part of the business organization; it is more than just promoting and selling a product. Marketing is gratifying the changing needs of the customer. This can be best summed up by the very successful businessman Bill Gates when he quoted, "Your most unhappy customers are your greatest source of learning ". The purpose of this paper is to define marketing from at least two different sources; based on these definitions I will explain the importance of marketing in organizational success. Also, I will offer three examples from the business world of the importance of marketing to the
New Times Providers designed their sales and marketing strategies by analyzing the current market conditions and their own strengths. Through this process, New Times Providers was able to develop their sales and marketing strategy to leverage their competitive advantage with peculiar marketing strategies. This enabled them to establish the company as the leading print service provider for consumers and business. New Times Providers has created momentum by engaging critical brand and mass recognition. The company will monitor the degree of effectiveness of their marketing efforts to establish the return of advertising on commerce and investment generated from different channels. The ongoing sales and marketing strategies by New Times Providers entail expanding and maintaining a wide range of target markets (Nash, 2011). Further, they are creating alliances with services and products firms to deliver quality products. This has enabled the company to invoke themselves thus bringing and implementing total solutions for the benefit of customers. The marketing plan for New Times Providers is based on key fundamentals, which include:
P3 describe how a selected organisation uses marketing research to contribute to the development of its marketing plans.
The name of the business will be A1 Accounting Services. The ideal location is Los Angeles, California. The business will be focused on creating customizable accounting solutions for addressing the needs of individual clients and large organizations. This means that there will be a concentration on a number of areas to include: providing tax advice / estate planning, insurance and creating programs that can deal with specific challenges impacting customers. ("How to Start an Accounting Firm," 2012)
The purpose of this paper is to define the term “marketing”, explain the importance of marketing in organizational success, and provide examples from the business world to support the explanation of its importance. Upon completion of this paper it should be understood what Marketing means and its importance in today’s society.
Product development is another appropriate technique to plan better strategic marketing. This strategy is the growth strategy which provides new goods and services to support existing market in the organisation. This strategy can be profitable if customer seeksto differentiate products. But there is a great risk that if new product or service would not attract customer then there can be a financial loss as well as lower down the image in market as well. Therefore, organisation should need tohave strong ability in research and
At the present time, in order to establish a product in the market, it is considerable for the business organizations to adopt unique marketing activities and strategies. A marketing plan can be elaborated as an integrated approach or process to deal with the dynamic business environment and foresee future. In addition, a marketing plan is also important to understand the varying consumer buying behavior, to serve them in a finest way and provide them a high level of satisfaction (Kotler, et al., 2013). The idea of marketing is associated with the introducing strategies and tactics to advertise
Gilligan & Wilson (2009), define marketing planning as logically establishing of marketing objectives and formulating plans to achieve them.
Marketing strategies is a strategy that takes in consideration of all marketing goals into a one comprehensive plan. A good marketing strategy should be drawn from market research and focus on the right product mix in order to achieve the maximum profit potential and sustain the business. The marketing strategy is the foundation of a marketing plan.
The market is evolving rapidly, not only because of the role that the customer has purchased in recent times, but because new technologies in the economic world and the Internet have created the need to create a new strategic vision that makes it difficult to predict their Final scope and consequences. Now, marketing has many more functions that must be met before starting the production process; between them, include market research and design, development and testing of the final product.
It is the difference between the desired level of sales & projected level of sales.