MARKETING PRINCIPLE
Task-1
Many educators and practitioners define marketing in different methods. The core idea of marketing is to satisfy the customer needs and wants. Marketing is the process of planning and executing the conception, distribution of ideas, promotion, and pricing, goods, and services to create exchanges that satisfy individual and organizational objectives. But in short, marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.
The essential marketing strategy falls under 4Ps. They are Product, Price, Place and Promotion. All these strategies are vital for a company to enhance their business. However, these strategies become active when it satisfies the customer needs because the main idea of marketing is to fulfil the customer wants and needs. In this marketing tactic, all the 4Ps plays a particular role for the business. The first ‘P’ stands for the “Product” which deals with the goods, services or idea offered by a firm. The target of the “Product concept” is to make a quality product which helps them to enrich their trade. The second ‘P’ represents “Price” it mainly focus on what customers are willing to pay for the service. The Price should be reasonable which indirectly gives profit for the company. The third ‘P’ emphasis the “Place” that is the location where they sell the items which should be approachable for the customers. The final ‘P’ deals the “Promotion” it clearly states the offers suitable for the customers. This should be customer-driven marketing; it helps the company to sustain with the competitors.
For instance, Boots is a member of Alliance Boots, leading UK and Ireland Pharmacy...
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...s to the transfer of goods inside the country itself whereas international means goods transfer from one country to another. International trade is characteristic by tariff and non-tariff barriers. In domestic, they do not have any restrictions. In international exchange take place under government rules and regulations. On the other hand, in domestic there are no or zero essential commodities.
In my viewpoint, Boots deliver excellent customer service by promoting standard products with amazing offers. Their marketing strategy is to cover all the people in order to stand in the marketing field within their competitors. The mission is to “put the patient at the heart of everything we do and so to become the provider of choice both for our pharmacist customers and manufacturer partners.” This helps them to persist in the marketing field forever with their new trends.
