Free Sample: What Is Marketing paper example for writing essay

What Is Marketing - Essay Example

Managing profitable customer relationships. The aim of marketing Is to create value for customers and capture the value from customers In return Five steps of marketing process: 1- understanding customer needs 2- Designing customer driven marketing strategies 3- Integrated marketing programs 4- Building customer relationship 5- Capture value fir the firm Capos:a passion for creating customers value and relationships: Example for customer focused and heavily committed to marketing. Understanding and satisfying customer needs in well defined target marketing’s. What Is marketing: More than any other business function, deals with customers. Marketing Is managing profitable customer relationships. Twofold goals: I-attract the new customers, 2- keep and grow current customers by delivering satisfaction Save money. Live better. Marketing: for profit firms and not for profit organizations.

Today’s marketing is not only about telling and selling, in the new sense of marketing: consumer needs, develops products that provide superior customer value and prices’ distributes and promotes them effectively. Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.

The Marketing Process: Understand the marketplace and customer needs=Design a customer driven marketing strategyГ=construct an Integrated marketing program that delivers superior profitable relationship and create customer delight (create value for customers and build customer value from customers to create profits and customer equity(Capture value from customers in turn) Create value for customers and build customer relationship: 1- understand the marketplace and the customers needs and wants: Human needs are physical needs for food, clothing, warmth and safety.

Social needs for belonging and affection and individual needs for knowledge and self expression. American needs food but wants a Big Mac. When they backed by buying power wants become demands. 2- Market offerings: Products, services and experiences: customer needs and wants fulfilled by market offerings. Such as services, Information or experiences offered to a market to satisfy a need or a want. – Customer Value and Satisfaction: Customer form expectation about the value and satisfaction that various market offerings will deliver and buy accordingly-customer value and satisfaction are the key for developing and managing customer relationship. 4- Exchanges and Relationships: Exchange is the act of obtaining a desired object form someone by offering something in return. Marketing consist of actions taken to build and maintain service, idea or other object. Marketers want to build strong relationships by insistently delivering superior customer value. – Markets: Exchange and relationships lead to concept of a market. A market is the set of actual and potential buyers of a product or services. Designing a customer driven marketing strategy: Understands consumers and the marketplace, marketing management can design a customer driven marketing strategy. For best marketing strategy: What customers will we serve? ( target market) How can we serve these customers best? (what’s our value proposition) I-selecting customers to serve: whom it will serve?

By dividing the market into segments of customers= market segmentation and target marketing(go after from market segmentation) not to serve all customers it will not well. The company wants to select only customers that it can serve well and profitably. 2- choosing a value proposition: How it serve to targeted customers. Differentiate and position itself in the marketplace. 3-Marketing management orientations:design strategies that will build profitable relationships with the targeted consumers. Five concept under this orientation: a- the production concept:(improving production and distribution) oldest orientation. Sky for focusing too narrow mom their operations, lack of real objective satisfying customer needs and building customer relationships. B- The product concept: marketing strategy focuses on making continuous product improvements. Problem: customers may look for a better solution not better quality of a particular product. Market myopia. C- The selling concept: consumers will not buy enough of the firms products unless it undertakes a large scale selling and promotion effort. Aggressive selling high risk: focuses on creating sales transaction rather than on building long term refutable customer relations. – The marketing concept: organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do. Customer focus and value are the paths to sales and profits. Not product centered concepts. Customer centered’, right products for your customers. E- The societal marketing concept: questions, customers short term wants and long term welfare (possible conflicts). Focus on sustainable markets, profits,wants and society long run interests.

Free Sample: What is marketing paper example for writing essay

What is marketing - Essay Example

Kettle et al (2008), in is book Principles of Marketing referred to promotion, price, product, and place as the key components of the “market mix” (Kettle & Armstrong, 2014). Jostler’s approach is traditional and fairly applicable for the basic strategies of most modern businesses, but fails to incorporate arising phenomenon, such as Apple’s “Cult Branding” (Schneider, 2011). Contemporary Marketing strategies are rapidly metamorphosing (Sinai & Offshoot, 2006). The key to successful marketing strategy in today’s world is Reverse Psychology.

Brands such as Apple epitomize this strategy, and insist its followers to kook down upon people with any other product (Cult of Apple, 2014). The customer Is spoon fed Oval media and information technology to enthrall a devoted line of clients (not customers), who will come back again and again irrespective of the product (Frugal Entrepreneur, 2011). The focus of modern marketing Is to brainwash the customers Into purchasing products neglecting the old traditional factors of the “market mix” namely: price, product. And place. Future is uncertain, but one thing is sure that, the smart customer will have a lesser role to play in modern marketing.

Free Sample: What is Marketing? paper example for writing essay

What is Marketing? - Essay Example

What Is Marketing Introduction Marketing has evolved a lot over the past few decades. It has adapted through the times changing. With the recognition of the Ad Age and Generation Y, marketing has become more interactive with the use of color, image and sound. Marketing isn’t only all about bringing the fun out of a product and service, but also a management strategy to improve profitability, through the transfer of goods and services for money and vice versa. Marketing Definitions The definitions of marketing may all have different meanings, but they all have one purpose.

The definitions below may either contradict with one another or mean similar things. Kettle (2009) defined marketing as An activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large (Kettle 2009. P. 7). Here, marketing is seen as an activity, in which an exchange of products and services are made between organizations and consumers. In the 21st century, it is agreeably a process of communication.

The 21st century technology has advanced, where society lies on forms of communication to be attracted. Vary (2002) saw marketing as a way of satisfying a customer. Hence Marketing is concerned with creating and sustaining mutually satisfying exchanges of value between producer/servers and their customers. It has both a managerial orientation and an organizational/social function. (Vary 2002. P. 4). Marketing does play a major role In an organization. It increases profitability for an organization, yet satisfies the consumer.

When both stakeholders are happy with profit and product, a valid exchange is made. Surfboard ND Sold (1987, p. 42) went as far as to connect Marketing to the international world Marketing Is a mediated activity occurring within the economic sphere that employs strategies Intentionally rendered and goal-directed towards the exchange of goods and services. (Surfboard Sold 1987. P. 42) In comparison to Jostlers (2009) definition of marketing acting as an activity.

Surfboard Sold (1987) have also referred to marketing as an activity, and have mentioned marketing as an International concept. In 1929, Valley Galapagos (cited In Peterson 2002) referred to racketing as Mainly concerned with changes in the time, when, and the place where, commodities are available for use (Avail, R. S Galapagos, P. L. 1929. P. 16). The definition made by both Avail Galapagos (1929) was simple. It gave us lee-way to make our own Interpretation. It showed Initiative by making It clear that Marketing can change overtime.

This proves the viewpoint of Marketing having different view points to every individual. Carmen, J. M (cited in Peterson 2002) defined marketing as Marketing is the process in a society by which individuals or public and private organizations identify the needs and wants of their respective clients, design and develop the products, services, and ideas to satisfy these needs and wants, communicate information about them, distribute them, and exchange them so as to create value for the parties involved. (Carmen,J. M. 1980).

Similarly to Kettle (2009) and Vary (2002), Carmen (1980) has included the key term client in their definition to outline the Importance of such a stakeholder. Carcass (1980) viewpoint. This view also distinguishes that products and services must be created in order to fulfill a 1 OFF o the times and analyzing the definition of marketing. The best definition would be that of Carmen, J. M (1980). This definition showed a lot of intuition. It was not bias, and brought forward points for both consumer and organization.

It was descriptive, and could be used at any time of a product cycle and as times change. Its is adaptable to society from years down the track, where products have either improved or lost its natural quality. Conclusion Marketing plays a large role in our lives. Unknowingly, we are exposed to it through many forms, such as a billboard, television advertisement, radio, magazine etc. However, we are attracted mostly to those products our hearts desire, based on our culture and values, age, gender and demographics.

Free Sample: What Is Marketing? paper example for writing essay

What Is Marketing? - Essay Example

Effective marketing is a result of examining every aspect of your business and how it affects your consumers’ end experience. Ultimately, it covers everything you will need to do In order to deliver your products or services to the consumer Including research, planning, pricing, packaging, promotion, selling and lastly distribution. (2)Describe the four As. Marketing Is a business function that Identifies customers’ needs, determines target markets and how to apply these products or services to the markets. A strategy commonly used is known as the “Marketing Mix”.

According to Philip Kettle, “A marketing mix is the mixture of controllable marketing variables where firm uses to pursue the sought level of sales In the target market”. In other words, It Is the set of controllable tactical marketing tools which concentrates on combination of four basic elements; product, price, place, and promotion (4 AS) that the firm blends to produce the response it wants in the target market. The following describes the four Fays of marketing; Product – are the goods and services combination that the company offers to the argue market.

The business has to produce a product that people will want to buy. This Is the first element In the marketing mix. The product mix includes variables ranging from quality, product line, physical features of a product, packaging & labeling of product, branding & trade mark, product innovation, services and etc. Product is the heart of the marketing mix because if the product is not attractive to the customers, no amount of sales promotion, channel selection or price reduction will help to achieve the marketing target.

Hence. Arability uses, qualities etc of the product are important from marketing point of view. Marketing team of a firm will decide which ‘market segment’ they are aiming at based on its demographic and psycho-graphic. They have to differentiate their product so that it is slightly different from what the present market has to offer so that people can be persuaded to “give It a try”. Price -refers to the amount of money that customers must pay in order to obtain the product.

The price must high enough to cover costs and make adequate profits but low enough to attract customers. Therefore, It Is one more critical element of marketing mix. The price mix includes pricing setting, discounting, payment periods, 1 OFF an important bearing on the competitive position of a product in the market. For example, a marketing manager may use pricing as a tool to hit sales target, used for capturing market, and to achieve good standing in a market competition effectively.

Place – also known as the distribution channels such as location and methods of getting the product to the customers being at the right time and the right place. Physical distribution of product is possible through appropriate distribution channels that include the location of the business, shop front, distributors, inventory, logistics, transportation and the potential use of the internet to sell the products directly to the customers globally and locally. For instance, a marketing manager has to select a channel which is convenient, economical, and suitable for customers and any supplier.

Promotion – refers to the activities that communicate the benefits and value of the reduces to consumers and persuade target customers to buy for it using methods such as advertising & publicity of product, personal selling, direct marketing, sales promotion, display of promotion goods, and public relations technique used for maintaining cordial relationships with distributors and consumers. Promotional activities are useful for establishing good rapport with the consumers. The use of advertising gives information, guidance to consumers and also act as a product/ brand reminder.