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Marketing Principles Essay

4026 words - 17 pages

1.1

Marketing process is the process where the company start analyzing and identifying the potential opportunities of the company selecting the target market, and managing the marketing effort. Marketing process is a series of actions and reactions between the customers and the company. The steps of the marketing process are:

Analyzing marketing opportunities

It is the first step of the marketing process, and the main goal here is to analyse what kind of opportunities can you have is the market and to identify the customer’s needs and wants and try to satisfy them. This step is useful to understand the environment in which the company is operating and to analyse the long- run ...view middle of the document...

Promotion: Is something to publicize or advertise a product, and we use it to communicate the merits of the product and persuade the customers.

Managing the marketing effort

The managing marketing process is when the company wants to put into action the marketing mix and for this they require the four management functions:

Analysis: Now we analyse the market is turn of analyse the company’s situation, the company must analyse the market environment to find opportunities.

Planning: The process to know the strategies the company is going to follow to get the main goal and to persuade the customers.

Implementation: The process that transform plan in actions and it involves day- to- day activities that effectively put the plan to work.

Control: The process where the company evaluates and analyse the results of the marketing strategies and in base of this take decisions to manage the next strategies.

CHART NUMBER 1

1.2 Evaluate the benefits and costs of marketing orientation for a selected organization.

Marketing orientation is focus on providing products and services to satisfy the needs and wants of the target market. As stated by Bernard J. Jaworski and Ajay K. Kohli in the "Journal of Marketing", marketing orientation is, "The organization-wide generation of market intelligence pertaining to current and future customer needs, dissemination of the intelligence across departments and organization wide responsiveness to it. " (http://education-portal.com, 2015) And all the enterprises can choose one of four strategies or orientations by deciding on how to harness their internal strengths to reach consumers. The four strategies are:

Production concept: This concept say that if the company produces a lot, then the customers will prefer their products because that are available everywhere and is also inexpensive, so the managers are focus on high production efficiency, low cost and mass distribution.

Product concept: As it name product concept thinks that if they offer to the customers will buy a high quality, high performance and innovate features. So the managers are focus in innovate and making better quality products.

Selling Concept: In this concept the company assumes that they are not going to sell if they don’t do the proper sales and offers, so they use very aggressive strategies to make people buy. They often use this concept with products that the costumers don’t think very much in buy, for example, encyclopaedias.

Marketing concept: This concept argues that to achieve the goals the company has to know what does the market needs and according to that make strategies to satisfy those needs.

2.1 Show macro and micro environmental factors, which influence marketing decisions

Before the company takes a marketing decision they have to analyse all the factors in the environment; marketing environment is all the factors and forces outside of marketing’s direct control, and it’s divided in two big...

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