Philip Kotler, marketing is the skill and ability of discovering, designing, and providing usefulness to gratify the requirements of the end market for a price. Marketing recognizes unsatisfied wants and cravings. It outlines and enumerates the extent of the classified market and the earning feasibility. It identifies which portions the organization is efficient of doing best and it plans and endorses the suitable merchandises and facilities.” What are the main stages of the purchase decision-making process? As noted by Flekel (2013), the marketing person’s aim is to understand the thought process of the consumer.
So marketing is important because it is the key to success in the business. Through marketing we may store data, gathered information and analyzed the information to know customer needs and wants, to analyzed customer behavior, to know what’s on the heart of their markets. Through marketing we may select the target market, positioning the product in efficient and effective process. Marketing predict the prospect customer, potential buyer, future trends. Through marketing we may satisfied customer needs and wants for giving them the best experience of their products and give customer benefits.
Introduction Every business organization is using a marketing concept which is used as a tool to identify customer’s needs. And further try to meet them by making right decisions in line with customer’s needs. In line with meeting customer’s needs the ultimate goal of every business is to gain profit. That’s why they make use of different marketing strategies to meet not only the need of the customer but as well as the goal of the company. We know for a fact that marketing strategies comprises everything from developing a product, to introducing it to the market, to selling and improving it as the need of the target market changes.
This is key to any firm. As mentioned in the essay, one of the reasons customer-centric firms successful is because they cater to the demands of customers. They prioritise what matters. They do not need to subsidise their products in order to boost sales in comparison to a product-centric firm who may need to introduce a sale in order to shift their goods. Customer trust and loyalty gained through the market structure reduces the marketing costs of such firm.
The marketer is expected to examine the other factors like franchising, sales methods, among other factors to allow the successful launch of the product. ii. Designing a Customer-Driven Marketing Strategy. After identifying the niche, the marketer should establish a unique strategy of marketing to allow him or her to reach the targeted audience with ease. Market segment analysis should be conducted by dividing the markets into various sub groups of customers to help in identifying the target markets.
Marketing strategies are processes that are made to take advantage over your competitors, this is done by using different resources and maximize your market. We can also describe them as a process of communication with our customers in which we make knowledgeable about the different advantages that our products and services. And we can say that a marketing strategy is a way to inform your customers about your offers or simply to emphasize the quality of product and / or service that you offer in order to increase your sales, and your aim should be generate sales for your business. Types of marketing strategies Companies use various general marketing strategies, but these strategies have to be applied correctly to know them and know what
The core concept is to build long-term relationship with customers. Relationship marketing view marketing as an exchange where both buyer and seller help of the product that will be offered to the market. Marketing doesn’t end after the customer purchases the product, rather, you attempt to obtain important feedback from your customer and build a continuous relationship through related products and services. Member of originations, at all level ds, communicate with business colleagues, customer, shareholders, the media and members of the public on a daily basis. The following advantages of communicating effectively with
It holds that the key to achieving its organizationl goals(goals of the selling company) consists of the company being more effective than competitors in creating,delivering,and communicating customer value to its selected target customers. The marketing concept rests on four pillars: target market,customer needs,integrated marketing and profitability. Distinctions between the Sales Concept and the Marketing
Marketing is not just selling and advertising. It involves the understanding of the consumer’s needs, developing products that provide superior value and communicating them to the consumer through the right price, distribution channel and promotional activities. (Philip Kotler & Gary Armstrong, 2004.) Marketing conception is a philosophy that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do. Under the marketing concept, customer focus and value are the paths to sales and profits.
MARKETING PROGRAM One of the most important elements to be considered in establishing and managing a business is on how to communicate and introduce the products or business itself to respective customers. This part should be the most strategic and creative since it involves persuading the market to buy the products. This become the reason why Donut the Explorer focus on creating a well-defined and effective marketing plan in order to attract consumers. It includes identifying the target market, analyzing the competition, promoting the product and setting the price structure. It is also necessary to consider the customer demographics, their needs and the technology required to meet those needs.