Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
importance of advertisement for business
importance of marketing
importance of marketing
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: importance of advertisement for business
Marketing is a term that is used frequently. Generally, it is thought of as how a company advertises and sells their products or services, but upon reading several sources during the research phase of creating this paper, it was found that there are many more elements involved in marketing. Marketing goes way beyond advertising and selling; it is a focal point of a company that drives the direction the company takes. According to Perreault, there are two definitions for marketing. The definition for micro-marketing was stated as the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer …show more content…
The organization must determine the kinds of salespeople, the number required, and how to select, train and motivate the sales staff. The success of most organizations depends on the quality of the sales staff, so this is a crucial step to take into consideration. Advertising is a major factor in the Promotion' category of the four Ps. The targets, the kinds of ads, the media type, the copy thrust and who will prepare the advertising are all important elements in advertising. These are the more traditional activities most people associate with marketing, but the true impact of the results can make or break a product or services existence. Besides advertising, the organization must decide on the types of sales promotions they may have, if any, and what types of publicity they will target. The marketing manager must determine how to blend all these means of communication to best handled the organization's …show more content…
The marketing manager must assure the pricing objectives are aligned with the organization's objectives. Flexibility must be factored into the pricing. Some products or services have very little pricing flexibility due to factors such as scarcity of the resources required to produce the product or service or because of high levels of competition that drives prices to a stable, low rate. In the case of the author's company, pricing involves the size of the client, what they can and may bring to the contract and the level of service they require. In terms of competition, the author's company does charge more for the deliverable, but the costs to clients also includes a much higher level of customer service than competitors. The product's life cycle is an important element when pricing because the desire is to assure a certain amount of revenue is received over the life cycle. To do so, the price must level out over the life cycle. This requires a good understanding of the supply and demand for a product at any given time during the life
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
Marketing is a very powerful tool. Unknown to many individuals, the influence marketing has on them is far more than mere visual and audio stimulation. It effects their perception of their surroundings and themselves. Marketing how the power to form our perception of life. A successful company understands this principle and harnesses the power of effective marketing.
Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create or exchange to satisfy individual and organisational objectives.
Marketing is the process of searching for options for accumulating profits by identifying the demands of the people and satisfying their needs with appropriate products. In today’s globalized business world, marketing can play a vital role in establishing trade blocks all over the globe with competitive and cutting edge market, research, policies, strategies and activities.
One of the best ways to describe marketing is: Marketing is managing profitable customer relationships. The goal is to attract fresh customers by promising greater value and to keep and grow current customers by delivering satisfaction. We further define marketing management as the art and science of selecting target markets and building profitable relationships with them. This is how the marketing strategy was formed in this submission.
Many people have been trying to come up with the correct definition of marketing. The question on whether marketing should include the non business organizations came into being since many argued that business was not...
American Marketing Association Board of Directors approved the definition of marketing in July 2013 as ‘Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.’, Ama.org (2015). With the growth in economy, competition and market fragmentation, the marketing became more sophisticated. The large heterogeneous markets were divided into smaller segments with similar needs, wants and buying behaviour, Kotler,P., Armstrong,G. (2014).
Marketing is the process of influencing voluntary exchange transaction in which one party to the transition can be envisioned or a customer of the other markets the marketing process involves communication requires a mechanism or system to carry out the exchange of the marketers product for something of value The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the marketing
It is not secret that marketing plays one of the key roles of a successful business. As Phillip Kotler said: “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential”. Simply stated, marketing is everything you do to place your product or service in the hands of a potential customer.
The major objective of any company is to make profits. Marketing is responsible for identifying a company’s customers anticipating their needs and wants, satisfying theses needs while keeping the its major goal which maximizing profits
Marketing is a well known act and process used by many businesses and brands to effectively sell their product or service. Marketing can be defined as a management method which creates the exchange between concepts or ideas to the customer. The four elements known as the four P’s of marketing are product, price, place and promotion. A product is selected and developed, followed by identifying a price determined by the company. A distribution medium is selected in order to enhance the reach to the place of the customer. The promotional strategy is designed and applied lastly so that it will further reach to the target audience. For this, a marketing strategy can be considered as the plan for contacting people and transforming them to become
Marketing environment consists of the microenvironment and macroenvironment. Microenvironment consists of the forces close to the company that affects its ability to serve it customers- the company, suppliers, marketing channel firms, customer market, competitor and public. The microenvironment influences the organization directly. It¡¦s more like a local relationship and the firm may exercise a degree of influence. The macro-environment consists on the other hand consists of the larger societal forces that affect the microenvironment- demographic, economic, technological, political, cultural etc. it includes all factors that can influence an organization, but they are out of their direct control.
As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”
The subject on Macro marketing is frequently used among marketing scholars in order to define the term. The definition of Macro-marketing has been used in the vocabulary
A good definition of marketing is the process of the intermediary function between product development and sales. (Reddy ) The field of marketing entails taking a generic product or generic service (the product or services do not have to be “generic” they may be actually unique to the marketplace) and associating the generic product with a brand name (Petty 2001). Under this generic concept are the activities of advertising, public relations, media planning, sales strategy and so on.