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
WHSMITH In the context of global expansion and competition of numerous businesses, effective marketing management is one of the key factors of success, playing an essential role in obtaining competitive advantage. Hence, the success of a company is determined by its ability to identify customers’ needs and offering products and/or services to satisfy them.
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.
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The marketing strategies Marketing involves getting the right product to the right place at the right time and right price in the best suitable promotional activity.
According to Graeme D. and Ensor J., (2005) ‘’Marketing is essentially a simple process and success stems from the understanding of the costumers need’’. The concept of marketing could be simple but it is the implementations that is highly complex and requires a range of interdependent variables. These variables must be given focus and direction in order to achieve successful fulfillment of customer needs. Marketing is also the means to provide such direction. Additionally, the provider must understand the needs and wants of the customer. Therefore marketing offers a mechanism that facilitates understandings, communication and the development of products and services as solution to the customer needs. Finally, marketing is an interface between the
Marketing Strategy:- Advertising: Our main advertising strategy is to let our potential customer know that we are aware of their wants and needs and have quality inventory and prices.
In order for a company to be successful, there are many pieces of the puzzle to fit together. Just like a puzzle, those pieces have specific places or it does not fit correctly. A successful company (Clow & Baack 2010). The consumers will have to understand who their target market is, and segment that market correctly, and the market will find the right methods to provide those messages to their consumers (Clow & Baack 2010).
Introduction The competition in today’s industrial world is very intense and every company is spending a lot of money on designing and marketing their products and services. In such a highly competitive world it is very essential to design and market your products keeping in mind the target customers and markets. A product which is designed for the developed countries might not work in the third world countries and vice versa. So the companies, prior to designing their products and services must be aware of their target customers and markets. Once the designing and the production phases are over then comes the very important and the deciding phase which is the marketing phase. It is very essential for a company to have a marketing
No initial survey Every product and service fulfills a need. Marketing begins from carrying out a survey to find out if people really need the service. This is very important. A lot of marketing fail because useless services or products are being marketed. People have gone into business based on only perceived needs. If you go into production because you only perceived a need, your marketing may not work.
Marketers always try their best to fulfill the needs and wants of customers with positive, motivating values and association and the most obvious way is
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 vital to the existence of a business, as it is experienced every day of our lives as consumers. When a new product is invented or an existing one is improved, there is no guarantee customers will purchase it. Without marketing these products may never reach the customers attention, regardless how good or how revelant the particular product may be to the customer’s needs.
Diploma in Business Management Level 7 Assignment on Human Resource Management ( 7010 )
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