Marketing management is a significant tool of companies striving to succeed by satisfying the most desirable needs of a consumer. It is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value (Kotler & Keller, 2012). Though people tend to primarily think about themselves and how to achieve the highest possible outcome according to the basic microeconomic theory, marketing suggests that consumer needs should be taken into consideration in order for the company to prosper. Firms use different kinds of measures to attract the customers and sell their products at reasonable prices. However, the producers often put too much effort into advertising and presenting their goods thus selling them to people who do not actually require that particular kind of commodity this way artificially creating a need for the customer. One of the most evocative tools of convincing consumers to buy products is the so-called multi-level marketing. It is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of the other salespeople that they recruit (Xardel, 1993). Reputable companies, such as Amway/ Quixtar, Nu Skin and Avon, say the only way to make money is to sell the products, establish repeat business and provide customers with good service (Pang, 2004). The main purpose of this technique is to train employees, equipping them with the required skills and abilities of forcibly persuading their customers to purchase the goods they present right at their doors. This business might seem encouraging as it offers huge revenues and an easy accessibility of entering it. Unfortunat... ... middle of paper ... ... Jackson, J. L. (2013). Problems With Rainbow Vacuums. Retrieved from Ehow: http://www.ehow.com/about_5497345_problems-rainbow-vacuums.html Kotler, P., & Keller, K. L. (2012). A framework for marketing management. London: Pearson Education Limited. Pang, G. (2004). Multi-level marketing:: [Final Edition]. Edmonton Journal, D8. Unknown. (2013, January 5). The bottom line. Herbalife is shorted. Retrieved from The Economist: http://www.economist.com/news/business/21569051-herbalife-shorted-bottom-line Whitacre, C. (2012, July 9). Rainbow D4 Vacuum Cleaner Appraisal For Inernet Vacuum Shoppers. Retrieved from Articletrader: http://www.articletrader.com/home-and-family/home-security/rainbow-d4-vacuum-cleaner-appraisal-for-inernet-vacuum-shoppers.html Xardel, D. (1993). The Direct Selling Revolution. Understanding the Growth of the Amway Corporation. Blackwell Publishing.
...nd this will be effective only with specific selling training sessions with real life scenarios.
Armstrong, Gary, and Philip Kotler. Marketing: an introduction. 11th ed. Upper Saddle River, NJ: Pearson Prentice Hall, 2013. Print.
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Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill Company.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
Philip, K., & Kevin, K. (2012). Marketing Management (14th ed.). Upper Saddle River, NJ: Prentice Hall.
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Armstrong, G, Adam, S, Denize, S, Kotler, P, 2010, Principles of Marketing 5th Edition, Pearson Australia Group, Frenchs Forest
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
Armstrong G. & Kotler P. (2007) Marketing: An Introduction 8E Upper Saddle River, NJ Pearson Prentice Hall Publishers
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.
Marketing is a very broad term, which encompasses all the activities that help businesses in identifying their customers and needs of their target market, utilising all the communication resources in order to target their target market, eventually persuading them to purchase the organisations products and services. It is much broader than the concept of selling, as selling just includes techniques of direct communication used to persuade the customers to buy the products and services of an organisation. In fact, sales are the integral part of marketing. Marketing also helps organisations to utilise all resources in an efficient way to gain customer satisfaction, which will eventually help in the growth of the company. While, on one hand, marketers tend to focus on the needs and preferences of the customers, they also need to keep a close eye on their competitors (Gillespie, 2010). Companies always look to beat down their competition with providing better products and/or services, or by providing less-expensive goods to the customers than their competitors, in order to achieve or maintain the leading position in the industry. The core focus of this paper is to identify and discuss the core aspects how managers could maintain the marketing activities of the organisation in the global context.
Petty Ross D. Editor's Introduction: The What and Why of Marketing; American Business Journal, Vol. 36, 1999
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.