TASK1 Marketing Concept and Process 1.1: Marketing and Various Elements of Marketing

700 WordsApr 23, 20193 Pages
TASK1 Marketing Concept and Process 1.1: Marketing and Various Elements of Marketing Process Several authors are explained about marking in a different ways. According to Kotler and Armstrong “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” and Marketing is the process of analyzing marketing opportunities, selecting target markets, developing the marketing mix and managing the marketing effort. CIM defines the marketing as “Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably”. Marketing Mix is the intelligent and potential tool of the marketing. It includes product,…show more content…
Boots organizational concept as follows; 1. Production concept: Boots main products are most of the time available and highly affordable. For an example No7 cosmetic products are available in boots most of the time and they are providing medicine and distribution service also very effectively. 2. Product concept: boots is retailing varieties of quality products and due to the environmental changes boots is introducing improved quality products. For an example: No7 beauty products 3. Selling concept: boots is offering their customers to 3 for 2, buy one get one free, advance age card off for specified product, baby event and etc. these are increase the sales to less moving products. 4. Marketing concept: It is about boots capabilities with customer wants. Boots provides product and services based on customer needs and demand. For an example oxford street boots stores has more beauty and cosmetic products rather than local boots because of tourists. Below the figure shows core concept of marketing. 5. Societal Marketing concept: Boots marketing strategy considers customer value, company profit and society benefits. 1.2: Cost and Benefit Analysis Cost and benefit analysis is one of the quick and simple way to make a financial decision. In the boots benefits and costs are connected with market orientation. Such as building customer satisfaction, service and customer care, desired quality, customer profitability,

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