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Roles and functions of marketing and promotion
What is the key role of marketing
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Marketing is a business where one is able to sell and promote a product or service that appeals to consumers. Without consumers, there is no market. Being competent in marketing includes being able to reach out to the customers, mentally and physically, taking their interests into full consideration and fulfilling their needs. As long as they are satisfied, customers will be loyal; business is still being made. Within the marketing process, there are four important “P” components: product, price, placement, and promotion. As mentioned before, marketing must involve a product or service to provide to the consumer. A good product or service should attract the desire, demand and need for it. If there is low to no interest in the product or service, …show more content…
The common misconceptions about internships are generally made when applying for a job. Students assume that obtaining a paid internship looks “impressive” on their resume, but infact what matters more is what you did during the internship (Hussain, 2012). Job’s in marketing can range from public relations, market research analyst, marketing manager, and advertising. For the different job titles in marketing a specific amount of years in experience and degree status are required. For instance, to become a marketing manager one must complete a B.A or masters degree in a marketing related field, obtain strong communication skills, extensive experience in marketing, and strong leadership skills (Study, 2015). On the other hand, a marketing research analyst does not require half the experience as marketing manages since there is a large salary difference. For this position, candidates must have a bachelor 's degree in a marketing related field, communications, and a strong background in statistics (Study, 2015). A great way to stand out in a sea of hopeful applicants is to be a member of the American Marketing Association or obtain a professional certification. Theses additions to one’s resume will give him/her a competitive advantage when applying for a marketing related job. Companies such as Enterprise, Target, and NV Energy have exceptional internship and job opportunities that provide hands-on training to advance in the world of marketing. Some of the big, top companies that are hiring the most in marketing are Google, Dell, and NBCUniversal. Theses companies have experienced a large increase in marketing growth because of the demand of mobile marketing becoming increasingly popular (Smith,
Kotler and Keller (2014) develop on what product represents in the marketing mix, as the idea centers around its design, quality and packaging. Continuing with the Four P model, price should be considered when marketing a product. The price component asks one to determine the list price, discounts, allowances, and payment period of a product (Kotler & Keller, 2014). Finally, Kotler and Keller (2014) list promotion and place as the final two variables associated with the older Four Ps. Promotion deals with how a product is advertised and what type of sales force will be utilized, while place is associated with the channels and locations for which your product will be featured (Kotler & Keller,
Marketing is that broad area of business activity that directs the flow of services provided by the carrier to the customer in order to satisfy customers’ needs and wants and to achieve company objectives. Marketing is more than selling: it involves a number of business activities, including forecasting, market research and analysis, product research and development, price setting, and promotion, including advertising. Marketing also involves the finance activities such as credit and collection that are associated with ticket sales. Marketing is customer oriented…Without marketing and sales, there would be no airlines. (p. 274)
What is marketing? Marketing is defined as “The management process which identifies, anticipates and supplies customer’s requirements efficientl...
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 big concept that is difficult to define or know the meaning of one side or a specific angle because of the company's reliance on it in many aspects and complex issue for successful company strategy. There
What is marketing? Contrary to what a layperson thinks there is more to marketing than just running ads and selling products (Perreault, Cannon & McCarty, 2014). The American Marketing Association defines marketing as “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” (para. 1). Effective marketing involves strategic concepts. Some of which include how companies use marketing to Place, Promote, and Price their Products. More importantly, an understanding of the marketing concept, the marketing strategy, and the marketing plan is required for a company’s marketing efforts to be successful.
In order to understand marketing one must first analyze the history of production and sales as it advanced into a marketing based approach to customer satisfaction. By definition according to rdi, “marketing is a business philosophy, the process responsible for anticipating, identifying and satisfying customer current and future needs”(rdi, 2011). To appropriately cognize marketing, one must acknowledge the evolutionary progression that transpired allowing the concept of marketing to establish existence. This progression began from trial and error initially focusing on product, and then sales, then the customer’s wants and needs; which brings us to our purpose for this dialog. Marketing is simply an advancement of two other philosophies the product philosophy, and the sales philosophy.
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.
An organization must use a strategic marketing process to distribute its marketing mix resources to reach its target markets. The elements of a proper marketing mix are price, product, place, and promotion. They are the four P’s of the marketing process (Goi, 2009)
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements at the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion.
“Marketing managers typically have a bachelor’s degree in marketing or business administration; however, some employers may prefer a master’s degree, in addition to extensive experience in marketing, advertising, brand management, or sales” (Marketing Manager: Career Info & Requirements). It is not impossible to get a job with a bachelor’s degree but to stay on the safe side, a person should really get a master’s degree. It is always a great idea to be educated in other areas other than marketing that will help benefit you and your future job in marketing. Being a big talker would make this an easy job because a person who wants to become a marketing manager needs to have strong communication skills as well as presentation skills. Someone must be willing to go after what they want, be able to juggle many things at once especially while under a whole lot of pressure, and have a creative mind when it comes to having to make up things right on the spot. A marketing manager must be able to work well with people that they work with as well as working with new employees in training how to do the job and motivate them to do their best. Since most of marketing occurs on the internets nowadays, they will have to be well educated with computers, the internet, and budgeting of many kinds. Having extraordinary communications will also be a big factor in this field of business and will help you the most. If someone who is really shy wants to go into this field, they probably should not because being quiet while being a marketing manager is not going to help them at
According to Kotler (2012), Marketing is about identifying and meeting human social needs, thus it is not only about advertising and promotion it is more than this. It includes setting competitive price, communicating effectively with potential and existing customers and also introduction of new products.
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.”
It involves the vital process of researching, promoting and offering products or services to a company’s target market. Marketing is an important business process where the company can inform, attract and convince people that its products or services are of value to them. Without Marketing, many businesses would be unable to exist or operate well in the market. They could offer the most amazing product or service in the market, but if nobody knows about its existence or understands its value, these companies are unable to make a single sale thus they may have to be out of