Role Played By Marketing Development And Launch Of New Products

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 is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.’ - Kotler

Marketing involves getting the right product to the right place at the right time and right price in the best suitable promotional activity.

Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products

Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others.(Kotler, Armstrong, Saunders, Wong page 5)

Company G’s mission is to improve the quality and convenience of people’s lives and they have done so with their latest small appliance, the espresso maker. It fits their goals by reducing its size with innovative design solutions and ergonomics that will put Company at the forefront of the industry. It will save time and money and ease the daily morning grind for consumers.

Marketing refers to advertising of a product to a group or society using a selected array communication medium and each brand will require advertising its products to its customers so as to so as to improve its sales (Stokes & Lomax, 2008). Advertisement involves informing the customer regarding the product and service specifications, cost and value and how the product will benefit them. Most brands will provide only the positive aspects linked to the product or services and avoid discussing negative aspects as this can result in deterring the customers from purchasing it. Marketing also involved close analysis of the consumer market in determining consumer demand before developing suitable products that fit that category. This

In this day and age, marketing plays a pivotal role in the business environment. Marketing is dynamic, complicated and challenging. The basic concept of marketing is to identify the need of human and society, and research how to satisfy and create those need. According to American Marketing Association (AMA), defining that marketing is the processed activity which communicate and exchange valuable offerings to customers (AMA, 2013). To be more precise, the main mission of marketing is choosing target market, creating, delivering customer value in order to develop the partnership with customer, and contribute to the organization and relevant stakeholders (Kotler & Keller, 2011). In a word, ‘marketing is to meet needs profitably’ (Kotler & Armstrong, 2011).Therefore, when it comes to launching a new product is not easy in such intensive marketing environment, it is estimated that the failure rate of new products is at 90 percent in Europe and even at 95 percent in United States resulted from high development cost, bad launch timing, poor design of product and incorrect segmentation, targeting and positioning (Kotler & Armstrong 2011). As a result, marketing is not only regarded as selling, in other word, selling is not the most vital part of the marketing process, Peter Drucker who is a prestigious founder of modern management asserted that the making selling unnecessary is the objective of marketing. The aim of marketing is to realize customer profoundly so that the product

The quest of a marketing theory, where to frame the present proposal, has ended up with an interesting tour through the evolution of the marketing theory. So that, before arriving to a definition of marketing that will eventually help this proposal to clearly state its goal, it merits to mention some considerations about the process that has hitherto led us.

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals. (Kotler, Keller, ‘05)

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

Marketing is a mix of activities involved in getting goods from the producer to the consumer. The producer is responsible for the design and manufacture of goods. Early marketing techniques followed production and were responsible only for moving goods from the manufacturer to the point of final sale. Now, however, marketing is much more pervasive. In large corporations the marketing functions precede the manufacture of a product. They involve market research and product development,

For external resources, market research techniques are good tools that are used to encourage ideas; such as, running focus groups with consumers, encouraging customer comments and suggestions via telephone interviews, consumer surveys and website forms can get direct feedback from customers. As the company want to tap into the growing demand for domestic washing products in Turkey and the surrounding countries, Turkish should be the main Interviewees. This may also help the company to find out why Wonder Wash powder is not selling well. Company can observe what customers needed by searching for their habits or market trends. For example, company can know more about the competitive product developments via secondary data sources (such as sales records), website and sales literature analysis to improve their own products. After some research, company find out that Turkish would like a pre-wash product rather than a formal washing powder.

Marketing can be seen everywhere, directly or indirectly. Both consumers and organisations end up being influenced by the factors of marketing. This can be from the cloths we wear to high end cars or electronic gadgets. In order to understand the role of marketing in the development and launch of our product “RAINBOW” (a mood band that changes its colour according to our mood and connects us with social media sites such as Facebook, twitter, etc. on the go depending on our feelings and also it helps to enhance our moods or feeling whenever we are low or depressed), we first need to know the perfect meaning of marketing. Good marketing is a result of careful strategic planning, vision or forecasting of market conditions and timely executions of the planned strategic moves. In simple words it is placing the product at the right place on right time with the right price. Marketing basically deals with identifying and satisfying human needs and wants. Marketing can be defined as “marketing is an organisational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefits the organisation and its stake holders.” Kotler and Keller(2012). The Chartered Institute of Marketing(CIM),UK defined marketing earlier as “The management process responsible for identifying, anticipating and satisfying customer requirements profitably”, this definition was totally focused on the profitable aspect of

Marketing is usually understood as a bridge between the companies (offering products and services) and ultimate customer or consumers. Through marketing sales of goods and services take place between customer and a company in exchange of money. Companies generally use typical or traditional selling approach for their offerings. Traditionally company gather knowledge of and target the needs and wants of a particular group of people and then market their products and services to that targeted group and then through their sales professional sell their goods and services to the people of targeted group (William, 2011). This is the general practice of all most all the companies and it is referred to as typical selling.