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Strategic Marketing Plan for Water Mart Systems (Pvt.) Ltd
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Index
Page
|1.0 INTRODUCTION |3 |
| 1.1 - Definitions for marketing |3 |
| 1.2 – The role and the importance of marketing in strategic planning |3 |
| 1.3 - Introduction to the company – Water Mart Systems (Pvt.) Ltd |5 |
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…show more content…
CONCLUTION |20 |
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|7. REFERENCES |21 |
1. INTRODUCTION
1.1 - Definitions for marketing
American Marketing Association (AMA) defines marketing as “Marketing is an organizational function and a set of processes for Creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake holders”
(Source: Kotler, Philip & Keller, Kevin Lane “Marketing Management”, 12th Edition, Prentice-Hall Inc, 2006, p 6)
The Chartered Institute of Marketing (CIM), which is the world's largest marketing body, defines marketing as "The management process responsible for identifying, anticipating and satisfying customer requirements. (Source: http://en.wikipedia.org/wiki/Marketing)
1.3 – The role and the importance of marketing in strategic planning
Planning at the corporate level (Strategic planning) sets the stage for the rest of the planning of the firm. Strategic
Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]
The American Marketing Association defines marketing as "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders". (2005) Simply put, marketing is the process by which businesses assess the needs and desires of consumers in order to provide products and/or services to meet those needs in the most efficient and cost effective manner. Truly effective marketers do market research in an effort to understand their target market and create marketing strategies based on the characterization of those in the target area.
Marketing is 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. (Approved October 2007) http://www.marketingpower.com/aboutama/pages/definitionofmarketing.aspx
What is marketing? Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy both individual and organizational goals. Marketing also include being able to get the goods from the producer to the consumer. The producer is responsible for the design and manufacture of goods. Marketing also includes market research and product development, design, and testing. Marketing concentrates primarily on the buyers, or consumers and determining their needs and desires. Companies then need to stress the availability of products and the important product features. You then need to develop strategies to persuade them to buy and keep their satisfaction with the product. Marketing management includes planning,
Kerin, R. A., Hartley, S. W., & Rudelius, W. (2013). Marketing. (11th ed.). New York, New
Marketing – The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.
David J. and John F. 2009, Foundations of marketing, 3rd ed., McGraw-Hill higher Education,5: 120-122
Kotler, P., & Keller, K. (2012). Marketing Management (14th ed., pp. 517-518). Essex, London: Prentice Hall.
Definition of marketing is the management process through which goods and services move from concept to the customer. For example, new Apple products are developed to include improved applications and systems, are set at different prices depending on how much capability the customer desires, and are sold in places where other Apple products are sold. Marketing is based on thinking about the business in terms of customer needs and their satisfaction.
Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.
Marketing is an essentially about marshalling the resources of the organization so that they can meet the changing needs of the customers on whom the organization depends. As a verb, marketing is all about how an organization addresses its markets. Marketing is “The management process which identifies, anticipates and supplies the customer requirements efficiently and profitability”.
Marketing is a process of identifying and satisfying the consumer needs and wants by creating or exchanging product.
Definition of Marketing – Marketing can be defined as the process of converting wants into needs. In other words it can be defined as the process of selling products or services to the customers by an organisation.
Marketing is the management process responsible for identifying, anticipating and satisfying customers requirements profitably (Chartered Institute of Marketing)
American Management Association: Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organisational goals.