Marketing also involves analyzing customer needs, securing information needed to design and produce goods or services that match buyer expectations, and creating and maintaining relationships with customers and suppliers. Marketing is essential to the success of any business. Its primary aim is to enable businesses to meet the needs of their customers and potential customers, whether then it’s for profit or not. To make my strategy successful for business it must: Ø Understand customer needs Ø Understand and keep ahead of competition Ø Communicate effectively with its customers to satisfy customer expectations. Ø Coordinate its functions to achieve marketing aims Ø Be aware of constraints on marketing activities I will also be considering the importance of developing and maintaining a relationship with its customers, potential customers and other stakeholders.
In other words, from the consumers’ perspective, identify and meet the needs of a selected targeted market and from the company’s angle, meet financial and marketing objectives. “… [the four] elements [of the marketing mix] will potentially contribute to the success of the product…” (BusinessMate, 2010). Assuredly, a customer is the most important subject in the marketing process. Above all, the perception of the marketing mix is vital in the marketing industry because the process will allow the organization to sustain customer satisfaction and maintain corporate success. Ultimately, the focal point in the marketing mix is to fulfill the customers’ needs.
Plus the volume range is really good. Camera. Camera quality is good for a mobile phone – color reproduction is rich, images are clear, and the HDR+ is evident. Photo 3 Audio quality in video-taking. It’s not perfect, but it can effectively block noise.
The role functional areas play in supporting marketing activity. Marketing Marketing determines what products or services are needed or maybe of interest to customers and how to make them available. Marketing responds to customer’s needs. Marketing make sure that the company builds good customer and clientele relationships. Some of the roles of the marketing department include; making sure the product has a target customer and the product fits in well with this, creating and promoting the product, making sure it has a strong brand and a well-built reputation and looking into new markets seeing if there is a niche that they could develop.
The Stefani B Collection should come up with a segmentation process. The following factors that should be in the process contain the following: sustainability, measurability, accessibility, serviceability. Sustainability is about ensuring a large enough customer base to make sufficient sales and profit. The brand should also consider the potential for future growth. It is important to connect with the customers, having a variety of merchandise that keep customers interested.
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. Marketing Defined The text states that marketing is both an art and a science where constant tension exists between the formulated and creative sides.
Marketing also helps businesses to create not only a single product, but also sets of products in order to give consumers time to choose their preferred product and build more customer loyalty to the brand. 2. The Marketing Management Process Marketing Management Process is divided into four different stages: Situation Analysis, Marketing Strategy, Marketing Mix Decisions and Implementation and Control. In the first stage, marketers have to analyze the current situation of the market or of the competition in the market in order for the firm to make a basis on what would be their next step in their marketing strategy for the product line. For example, a product line with many competitors has to study the strengths and weaknesses of those competitors in order for the firm's product line to be improved and innovated to cope with the existing competition.
Based on market research findings, businesses can develop "target audiences," which are specific groups of customers that have distinct needs or desires for the product or service. The research can be used to determine many things such as; how frequent the target audience will purchase a particular item, how much money they are willing to pay for it, and what is their overall satisfaction from it. Upon analyzing this information, manufacturers and service providers can get a clear picture of where to focus their efforts and resources most effectively. The information acquired from market research assists budding entrepreneurs into making wise and profitable business decisions. 2.
This is because Sainsbury's would like to provide the customers with good products so that they can fulfil the customer needs and increase the sales within the promotion offers e.g. get one and get the second one free. Promotion is an important marketing function for Sainsbury's. This is because Sainsbury's would like to increase the awareness, attract new customers, and increase sales and profits. The marketing function for Sainsbury's takes into account the four marketing mix e.g.
It will also express how each one of the four elements of the marketing mix impacts the expansion of an organization’s marketing strategy and tactics. Marketing Mix and Why HRworks is Successful Due To It The Marketing mix is a blend of marketing tools that are used to indulge customers and company goals. Customers frequently call the marketing mix "the offering. “Your offer is managed by the following variables regularly referred to as the four Ps in marketing: Product, Price Place (Distribution) and Promotion. Wikipedia.com defines “Products” as “an item that ideally satisfies a market's want or need.” You might also have a service that they’ll pay for as your product.