Essay On Marketing Process

LO1: understand the concept and process of marketing

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The marketing process can be defined as the interaction between customers with their needs and desires, and the enterprise with its satisfying offers available to the consumers. The marketing process consists of four steps and each step has its goal of creating value for the target consumers. Each element of the marketing process can be done annually, perform continuously or last for decades. Some of the factors which will take decades are segmentation, targeting, and positioning. The four elements of marketing are as followed and each element is vital part for the success of marketing for the business.

The first element of the marketing process if research. This consist of conducting market research to determine what the market is missing and what can be available to consumers that does not already exist in the current market and gathering feedback from consumers about what their feelings towards this product are.

Secondly, strategy is done after market research and this is conducted so that there is an clear idea of where the product stands at the moment and what factors are needed by the company to beat the businesses competitors and succeed in the current market.

Planning is the stage that involves the marketing plan of sales forecasting, financial planning, and communications strategy to access how the company is going to achieve its strategic goals in the future.

Tactics is used by the business to think about short term plans which will attract customers, beat competitors, increase sales, and provide a better value for the customers or for any other short term objective which needs to be achieved.

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Boots puts their customers at the heart of the busine...

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...owever, international marketing will have a endless opportunity and product line as they are approaching a wider audience.

- Domestic marketing will have fewer benefits and more disadvantages than international marketing and as international marketing are approaching a wider audience, they will have more sales and more business to conduct.

- International marketing will allow the use and sharing of the latest technologies, however, this minimizes the domestic marketing use of technology.

- International marketing can help create a better connection for countries and their trading systems; however, domestic marketing cannot allow this as it is only local.

- In domestic marketing there are no limitations but in international marketing there are many limitations which need to be followed such as, cultural differences, language, currency, traditions and customs.