Marketing Principles

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Marketing Principles

Marketing is all about understanding the customer and ensuring that

products and services match existing and potential customer needs.

Marketing is essential to a business and without it a business cannot

give its customers what they want.

There are five main points to marketing and they are,

· Understanding customer needs

· Understanding and staying ahead of competition

· Communicate with customers to satisfy expectations

· Co-ordinate its market functions to achieve its' marketing aims

· Be aware of marketing constraints.

These points seem very obvious and basic, and yet they are all very

in-depth, and very important to a business that is involved in

marketing. If a company has its marketing strategy wrong, then it

could result in financial hardship for the company.

Understanding customer needs

----------------------------

In order to anticipate change, Pepsi need to have an antenna that is

highly sensitive to changes taking place in the buying population, for

example what is happening to,

· The age and structure of a population

· Tastes and preferences

· Income

Market research is the antenna of an organisation and is far more

complicated that asking people if they like a particular product.

I started to understand my customers needs by doing my primary

research into what people actually want. I have tried to adapt Pepsi

to offer exactly what people within my target band want from Pepsi.

The way that I understood my customer needs, is by doing my primary

research. I asked people in a random sample survey to complete my

questionnaire I recorded the responses...

... middle of paper ...

... organisations cannot

afford to have a big advertising campaign, and so the product goes on

sale without being promoted to many people, and so the product may not

do as well in the shops as was hoped. Pepsi have had this problem,

they have many various types and variations of Pepsi available but

they do not sell well, due to people not knowing about them, and so

shops refuse to stock it, as it does not sell well.

All of the previously mentioned principles of marketing, go together

to make a product successful. The principles of marketing also work in

conjunction with the 'Marketing Mix'

It is important that the principles of marketing are understood and

taken into consideration, as without looking at marketing factors,

correct marketing cannot take place, and Pepsi will find themselves

eventually loosing sales.

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