’ It is used to communicate with potential and existing consumers, information on the organisation’s products and to … Each grade has uniformity in all attributes. This approach is concerned with single- product strategies holding share in growth markets, increasing share in growth markets, and increasing share in mature markets. Demand is the central controlling factor, and marketing management essentially becomes demand management. Essay on the Definitions of Marketing: 3. Thus, we can state that marketing is the process by which the products are made available to the ultimate consumer from their point of origin. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! In a formal exchange, buyer has to negotiate terms of purchase and enter into a contract of purchase. WritePass - Essay Writing - Dissertation Topics [TOC]IntroductionMarketing Mix, Four P’s1 Product2 Price3 Promotion4 PlaceReference Introduction All marketing is built on STP – Segmentation, Targeting and Positioning (Kotler & Keller, p.310). a.  the types of products which the consumers need. (Drucker, 2001) Hence, advertising has become the only part of tools for building customer relationships through marketing process. Various socio-economic factors, like shift from agriculture to industry, development of the means of transport and communications, better living standards of people, competition among the producers to reach out to consu­mers, etc., have given birth to this approach. (2) Selling is preoccupied with seller’s need to convert product into cash; marketing with the idea of satisfying the customer’s needs by means of the product and many things associated with creating, delivering and finally consuming it. We have monetary exchange. This likelihood can be discerned from the government’s initiative and the efforts of professionals in this direction. To write about marketing, it is important to understand what is the ultimate purpose of the discipline. Everybody lives by selling some products, services or ideas. The functions and problems relating these systems are iden­tified, classified and analysed to find out the course of action suitable for a marketing policy and strategy. (Huber, 2006) Dividing the market into several groups will make it easier for marketer to search target. The contingencies have to be adopted aid so the structure of a marketing organisation might have to be changed with the contingencies. There are many ways to define ‘marketing’. Kotler and Armstrong (2008) defined marketing as an exchange system which fulfill the needs and wants of individuals. Grading enhances, marketing efficiency. Content Guidelines 2. The top management gives their opinion and sets limits to what a Marketing Manager should achieve from a … Second is the product concept, which focuses on product quality, selling concept, such as ideas to tempt the customers into buying by offering some discounts or promotion. He uses marketing research as a tool to anticipate market demand. In case you are assigned to write a marketing paper and have no idea what to start with, you are welcome to get assistance from our expert writers. This step focuses on human needs, market offering and customer satisfaction.         Next is the customer-driven marketing strategic designed. Marketing research is the starting point in the process of marketing to know customer demand through market analysis and investigation. (Huber, 2006; Kotler and Armstrong, 2008) The first one is marketplace and customer needs understanding. Marketing process brings together producers and consumers the two main participants in exchange. This approach covers all the facets of business planning, decision-making and co-ordination within its fold. Company Registration No: 4964706. MARKETING IS the most exciting of all business sports. Apple has created some small changes in its organisational behaviour structure to complement the needs of the current global market and industry demands. Resources of men, money, materials and management are employed in the marketing system to perform marketing functions in order to satisfy customer demand (the purpose of marketing). This approach or concept can be said to be a natural consequence of increasing attention to the consumer satisfaction. For a marketing function to be successful, it must continuously adapt to the business environment, and modify the methods of production and distribu­tion and develop a structure which meets the opportunities and problems at hand. Clark stated that marketing consists of those efforts which effect transfers in ownership of goods and care for their physical distribution. It is continually changing in response to the explosion of information, the expansion of technology, and the aggressiveness of competition, at all levels and everywhere. We will describe briefly some of the important marketing functions: It is one function of the equation of exchange. (McDaniel and Darden, 1987) The company must combine all the 4ps into a comprehensive marketing program so as to deliver and communicate with the consumer timely. 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 … That is why, the approach of modern marketing is consumer-oriented, instead of solely product-oriented. Introduction 1.1 Purpose The purpose of this report is to get all of the management employees of Proton in all of the departments outside marketing to familiarize with what marketing is and also to show its importance in the company. Marketing Looking for a flexible role? Essays, Research Papers and Articles on Business Management, Essay on Marketing Management: Top 7 Essays on Marketing Management, Selling and Marketing: Difference | Marketing Management, Essay on Marketing: Top 5 Essays | Marketing Management, Essay on the Pricing of Products: Top 5 Essays | Marketing Management, Price Incentives and Discounting Tactics Used in Business | Management. (3) Demand side of the equation of exchange is honoured more and supply is adjusted to changing demand. Customer demand determines production; we have the problem of adapting supply to demand. Product enjoys the supreme importance. Descriptive : A descriptive essay is quite similar to a narrative essay. However, making a sale, i.e., selling is the old sense of marketing. Then there are departmental or functional plans such as production plan, financial plan, marketing plan, etc., and these are duly co-ordinated and integrated by top management. Advertising essay Advertising is a process by which information is passed on to a target audience primarily to persuade them to buy the idea of the advertiser which may be directed at promoting a product (good or service). “Marketing is a total system of interacting business activities designed to plan, price, promote and distribute want satisfying products and services to the present and potential customers”– W.J. 3. It assures quality. In a systems approach to the marketing function, the following ques­tions are usually asked for an understanding: (1) What are the strategic parts of the marketing system? There are many ways to define ‘marketing’. This system suffers from certain limitations or drawbacks, as follows: (a) The method depends on one party to be able to satisfy another party’s wants which poses difficulties in most situations; and. Peter Drucker observes emphatically that the purpose of business is to create a customer – by which he lays stress on two aspects: (i) identification of consumer needs, and. Content Filtration 6. Thus, it becomes the task of the management to study and analyse these variables and strike out a balance between these two sets of variables so that the marketing system grows and delivers the desired results. Thus, we have integrated marketing activities throughout the firm. (e) The management underscores the importance of decision-making aspects which are bound to arise in the execution of different marketing functions. Marketing has been viewed as an on going or dynamic process involving a set of interacting activities dealing with a market offering by producers to consumers on the basis of reliable marketing anticipation (sales or demand forecasts). c.  the products at prices that the consumers will pay for the satis­faction offered to than, d.  the products at the time when the consumers need them, and. Promotion in Marketing Essay Promotion in Marketing Essay In the contemporary business environment, promotion plays the crucial role for the effective business development. Then he provides a marketing mix in order to capitalize marketing opportunity. By prioritising their needs, company will receive recognition from the public, as well as to help marketer in frame up their consumer relationships. In the present highly competitive and changing world, the marketing factor has become very crucial to all business planning and decision-making. By understanding consumer needs and wants, marketer can offer a specific services and product into the market which is required by the consumer. Generally, marketing is considered as selling and promotion. The definition that many marketers learn as they start out in the industry is: Putting the right product in the right place, at the right price, at the right time. Marketing functions are needed to satisfy the market demand. (5) The variety of activities involved in marketing function create diverse job opportunities and employment. Privacy Policy 9. The marketing management which is in charge of planning, directing and controlling the marketing of goods and accomplish the primary marketing objective, viz; satisfaction of market demand. No plagiarism, guaranteed! All business strategy is marketing strategy. (Kotler and amstrong, 2009) Nowadays, marketing does not just focus on products, it is the satisfaction off customers matters the most. All the marketing essays ordered are written specially for each customer, so there’s no need to worry about originality. It plays an important role in retail trade particularly in the sale of costly consumer goods. Image Guidelines 4. (3) Selling aims at profit through sales volume, i.e., more sales, more profit, marketing aims at profit through serving customer needs or demand. The contingency approach to the study of marketing may, therefore, be schematically represented as follows: The social approach to the study of marketing refers- to the creation and delivery of a standard of living to people in society through their satis­faction. For example, the patterns of distribu­tion either through wholesalers or retailers or through opening of branches and sales depots are chosen as the marketing, outlets for footwear class of industries. Marketing, under this concept, is connived of as a total management system of interacting business activities designed to plan, promote, and distribute want-satisfying products and services to the exis­ting and potential consumers. This is because papers on marketing are not only considered as school requirements but are mostly used in the professional field. Students can be asked to introduce some past and present day marketing concepts, as well as discuss a company and its marketing strategies. It includes product, price, place and promotion. Prohibited Content 3. 2. Corporate objectives are given top preference and departmental goals act as the means to achieve corporate goals. In other words, the management has to harmonise all these variable factors, in the context of the nature and size of business, to gain conti­nued acceptance of its products and services from the different classes of consumers and customers. Each producer or seller has certain goals and capabilities in making and marketing bi-products. Marketing as a function occupies an important position in the organisation of a business firm. (5) Marketing is the creation and delivery of a standard of living to the consumers and society. To put it simply, marketing a thorough study that analyzes a variety of market segments in regard to their potential financial profit. Marketing is part of our everyday world, … All work is written to order. As a sub-system of the society, marketing represents a large number of institutions such as retailers, wholesalers, agents, middlemen, transport agencies, and all those institutions that assist in the continuous flow of goods and services from the producer to the ultimate consumer. 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