Aspects and Definition of Marketing
Marketing includes advertising, selling, and delivering products to
people. The market department try to get the attention of target
audiences by using slogans, packaging design, celebrity endorsements
and general exposure in the media world. Objectives, strategies, and
tactics - these are the parts of a solid strategic marketing plan.
In order to achieve this the marketing mix must be put into use (the 4
p's):
Price
Product
Place
Promotion
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Marketing is not about providing products or services it is
essentially about providing changing benefits to the changing needs
and demands of the customer' (P.Tailor 7/00)
In order for your business to sell its products and services as
successfully as possible, you need to look at what products you are
selling in detail to ensure they will be attractive and needed; the
price to ensure it is not too cheap or too expensive; where you are
best distributing your product; and finally, how you can create
interest and awareness for your products. All these elements need to
be targeted at the right people at the right time. In order for your
business to tackle this correctly, you need to get the right type of
mix (marketing mix), the mix should include four main elements:
Product, Price, Place and Promotion, by examining each and carefully
and adapting them to your customer's needs, you will continue to
produce and needed products and services.
Product
You need firstly to identified who will be interested in buying your
products and services, this should be identified once you have
analysed the results of the market research. Your market research data
will be able to look more closely at what your market want and then
look at your products to see if they are satisfying your customer's
needs. Examine your packaging design, materials used, size and
quantity. By analysing the market and its requirements, you will be
able to change the product or develop the product in order to match
This paper will describe the four elements of the marketing mix (product, place, price, promotion). In addition, it will describe how each element is implemented within a specific organization and how the four elements relate to that organizations marketing strategy. The company used in this example is both a product and service driven company and is in business for profit.
A. The marketing mix is the main tools that help out the company to be successful; there are the four ps of the marketing mix which are:
The marketing mix, which is basic to any organization, can be considered the ‘controllable’ variables that every business encounters. These controllable variables can be modified based on the uncontrollable variables (external factors found in Environmental Scan) that directly affect business operations. A company focuses on four elements in the marketing mix: Product, Price, Place, and Promotion, which are managed and coordinated through marketing programs in efforts to appeal to their target market. Marketers strive to understand what motivates consumers to purchase certain products. The marketing mix helps to break down some of these questions: What will consumers buy? How much will they spend? Where will they buy? And will they buy again?
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
The term marketing mix is used to describe the all the options available to the marketing manager in order to market a particular good or service. It is often referred to as the 4P’s(i.e Product, Place, Promotion, and Place)
This marketing mix can be implemented by doing surveys. Forming a research team to do studies and find problems and execute solutions.
The marketing mix is for the most part made up of four elements, and they are product, place, price, and promotion. These elements are time and again referred to as the four P’s. Countless sources will portray the marketing mix as a formula used in creating a feasible marketing strategy, with each component utilized in various ways and in different intervals supported depending upon the product or service the group or individual is attempting to market. The marketing mix will be described using three sources to illustrate the elements of the marketing mix. It will also express how each one of the four elements of the marketing mix impacts the expansion of an organization’s marketing strategy and tactics.
The Concept of Marketing Within the Context of Public and Government Sector The aim of this paper is to discuss the concept of marketing within the context of the public/government sector. Also, issues of relevance, benefits, constraints and implementation, including literature based or organisation specific adaptations or models, trends and current practises have been included. The paper begins with the discussion of traditional marketing mix that is what marketing is and the 4Ps of marketing. It suggests that the simplicity of this marketing mix paradigm has become a taken for granted path rather than considering it a social exchange process and hence customers suffer.
All four Ps are needed in a marketing mix. The four Ps must be productively combined, so that a company develops the best mix for its target market. In other words, each decision must work well with all of the others to make a logical whole.
The effective use of all the tools of marketing mix help a company to create, communicate and deliver value to potential customers. Promotion the fourth element of the marketing mix is generally divided into five differential tools, all of which contribute to the achievement of marketing objectives. These are:
The 4 p’s are a vital part in which the product goes from the factory
Marketing is more than commercials on the television or billboards that dot the highways, they are more than advertisements in the paper or salesman attempting to sell you their products. Many believe that this is marketing but marketing is so much more complex than the advertising and the selling of goods and services. Marketing is the process of interesting potential customers and clients in your products and/or services. (Ward) Another definition is "Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives." (Boone & Kurtz, 1998) Marketing evolves from the birth of an idea that a customer may want or need and satisfying that customer. In order to satisfy particular customers a company must set up some controlled variables or Marketing Mix. Product, place promotions, and price make up the marketing mix and are know as the four P’s.
Marketing is a fundamental aspect of all businesses, whether they are set out to make a profit, or charitable organisations - they will have to carry out marketing research of some description. It has been described as being, “the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” (Chartered Institute of Marketing) This essay will explore the role of marketing in a marketing oriented business and different aspects of the external environment that a smartphone company should be aware of. The points raised throughout will be supported using relevant journals, textbooks and newspaper articles.
To create a successful marketing mix you must have all of the following aspects: the right product for your target market, sold to your target market at the appropriate price,in the right place and time, while using the most fitting promotion. ( Marketing Theory 1995.) The product, price, place, and promotion all are of uttermost importance in a business, since all businesses must complete all of these activities, including advertising agencies and research firms, everybody in the business world should understand the marketing mix.
A marketing campaign is defined as “a specific, defined series activities used in marketing a new or changed product or service, or in using new marketing channels and methods” (Entrepreneur, 2016). In order for a business to be successful and grow, business owners have to think of ways to brand their business by marketing, advertising and promoting their products and services effectively (Entrepreneur, 2015). Branding is very important for businesses. For a business to grow and sell their products and services they have brand their product and services and make it known to their customers so they can build reputation and customer loyalty (Campbell, 2013). Marketing campaigns are used by businesses to attract customers to buy their product