1. The Concept and Process of Marketing
When an understanding of human behaviour and techniques of management are put together controlled by instinct, imagination, improvement and influence this is known as Marketing. When conceptualising a new item or service a more technical approach is required. Capability is required to recognise alternative means of making the product available to customer. In marketing to make your ideas work it is important to have accurate and in-depth knowledge of the subject.
1.1. Elements of the Marketing Process
The aim of marketing process is to make a product and then sell it at a premium. Marketing research is a tool at the hand of the marketing managers that provides them with data and findings and helps them decide future course of action. Marketing research gives an insight to the marketing manager as to which segment to cater to, what product to offer and the kind of association with the target market. Experienced marketer have varied ideas about the element of marketing process
Elements of the Marketing Process
Figure 1
Source: Made by Student (2012)
Needs and Wants: A need is felt when a human is denied of a basic necessity. As humans we need food, house or clothes. Needs are fundamental of human universe and are needed to survive. Needs can only be transformed by companies. Desire is for something more specific that fulfils our necessities. For E.g for quenching thirst what we require is water but what we desire is a soft drink. Quenching thirst is our basic need, it can be done either with water or soft drink. It also depends on the status of the person.
Products: Product is one of the most important part of the marketing mix. A marketer should have all the information about the product...
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... is not merely for transportation but also a status symbol.
• Consumers have become environment conscious. Hence more focus should be put on developing low carbon emission vehicles
TECHNOLOGICAL
• The Government and Industry in partnership have set up state of the art R& D facility
• Focus is on developing Low carbon emission technology
• There has been technological progress in vehicle safety.
ENVIRONMENTAL
• UK has stringent CO2 emissions laws. As a result CO2 emissions of new have fallen by more than 25% in the last 10 years
• Over £150bn have been invested in low and ultra-low carbon vehicle technologies.
LEGAL
• The industry has to comply with all laws and regulation such as gas emission laws, safety and standard issues, vehicles regulations.
• As per new laws all new vehicles should have Electronic stability control and Tyre pressure Monitoring Systems
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.
Aaker, D. A., Kumar, V., & Day, G. (2007). The Marketing Research Process. Retrieved from https://ecampus.phoenix.edu/content/eBookLibrary2/content/eReader.aspx.
Marketing research is the collection and analysis of data relevant to a particular market and the “communication of this analysis to management” (McDaniel, 2006). Whether the organization is a local store or a large corporation, marketing research is important for quality management, customer retention, and understanding trends. Marketing research is important for receiving feedback on the success of the marketing mix (product, price, promotion, and place) and for discovering and launching new opportunities.
Marketing is anything an organisation does which is related with communicating and selling of a product or a service to an audience. “To acquire customers, satisfy and maintain a relationship with them and subsequently to generate profits for the company.” For that to be achieved, extensive research has to be carried out to target markets.
If real progress is to be made with this issue, then laws need to be put into place that will limit the polluting of everyone, not just major companies. One way to do this without taking away individual rights, is to tighten emissions standards on motorized vehicles. In the United States, these vehicles account for just about 20% of all emissions. This emits around 24 pounds of carbon dioxide for every gallon of gas(Union of Concerned Scientists, 1). By tightening these standards so that these numbers go down significantly, great progress can be made toward a much more environmentally friendly nation.
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
In any organization to succeed understanding the roll of marketing in the organization is vital to continue thriving or eventually closing the doors down for good. Understanding marketing and effectively conducting marketing with proper managing not only will result in success but, a higher return on ROI. Each organization will handle their marketing tactics differently depending on their goals and budget. However, it is common for marketing process to include setting goal, evaluating opportunities, research on competition, strategy planning (including budget for marketing), and developing marketing programs.
The importance of the marketing mix is for businesses to make sure they are marketing-
In this paper I will define marketing in my own words and also research what the definition is using two different sources. While supporting my answers with three examples from the business world, I will show the importance of marketing. Marketing applies to many different areas of an organization and after close review I will make it clear on how it relates.
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
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.
"Marketing is everything and everything is marketing,"(MC kenna R 65-79) marketing our product to customers today became very difficult due heavy completion in the world market. The technology is running with new innovations bringing daily a new product in to the market. Company main aim is to sell the product to the customers and raise the value of the brand value. Now a days marketing is became very difficult to market your product in the market, marketing your product in this present sector it should be new and different and customers should think it is different from other products. Your product should create own market and every one should remember it. Marketing is done in different ways to sell the product to the customers and it is should be different from others. Marketing your product is depends up on the product which you’re going launch and mainly to which sector people your targeting. Frist we should know about our customers and their needs and how our product is going to help them. Marketing can be done by different ways to sell your product.
Briefly it is a systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company, allows management to make the changes necessary for better results through adopting a proactive approach. Therefore, if a company wants to know what type of products or services would be profitable it should make a market research. Furthermore, a comprehensive research will enable the company to know about the product imperfections (if there are) and to know if it has been able to satisfy customers’ needs. It attempts to provide accurate information that reflects a true state of affairs. Due to market research the company can formulate a viable marketing plan and estimate the success of its existing plan. There are two main sources of marketing research information:
With this new idea both the auto makers and their suppliers have created a centralized body of authority in order to promote this increasing environmental issue to all under the protection of USCAR (United states council for automobile research) and in addition (USAMPILCA) These groups introduced the rule that US mid size vehicles must list the entire components within and materials type and mass must also be identified.