The Importance of Marketing to Organisations in the Twenty-First Century

4310 WordsOct 31, 200818 Pages
The Importance of Marketing to Organisations in the Twenty-First Century Nintendo Co. Ltd ‘Marketing is a social process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others.’ When most people think of marketing, they think of selling, distributing and advertising, as we are daily swamped with sale calls, Internet pop-ups, and television commercials. Although these tactics of marketing are true, they are ineffective with no the sound basis of knowledge about the market, the environment, and most importantly having a solid understanding of how customers behave, their motivation for purchase, their awareness and their preferences. All these strategies must be…show more content…
In order to look at how Nintendo’s marketing has changed in the 21st century, the core concepts of marketing will be taken into consideration and how Nintendo delivers value in each concept to those affected by its transaction. Figure 1.1 The concept of ‘needs, wants and demands’ defines how individuals are influenced culturally and socially to satisfy a need which is not currently met. The demand is when the customers have necessary resources to obtain their wants. The second concept, ‘marketing offers’ are the value propositions companies offer ‘to satisfy human needs or demands’. The third concept of ‘value and satisfaction’ looks at how the product has satisfied consumer’s needs and it has met their expectations. This all leads to the fourth and fifth concept of ‘exchange, transactions and relationships’ leading to ‘markets’ where actual and potential buyers of the product, who have similar needs and wants meet. Nintendo has integrated these concepts of marketing in the 21st century to move away from the selling concept to the marketing concept. Think about the Nintendo Wii, which is outselling its rivals Playstation3, and the Xbox 360, the reason for this lies in Nintendo understanding consumer behaviour. Nintendo looked at how people who were not interested in consoles spent their time. Through market research they found that those people preferred to do sociable/physical activities, so they produced a physical product that requires
Open Document