Abstract Marketing is a essential part of a business because it helps to control the way that goods or services are sold. When marketing a specific product or service it is crucial to be well informed in all aspects of marketing, which include the marketing mix, marketing strategy, target market in which you will offer your product and the environmental factors that could effect how your product is received, including social and cultural difference, competition, economic and technological aspects. In this paper I will explain how I will market the product which I have chosen. An Herbal Shampoo brand called "Herbalize." The Marketing Process of Product "Herbalize" Introduction In order for my product to be successful, I strategize a marketing plan. Market Research is one of the main steps taken in the initial process of strategizing a marketing plan, The primary function of market research is to identify the customers needs and views. During the market research of my product, I discovered that because of the competition, (Herbal Essence Shampoo brand) my product would really need to stand out on the market. Also, during that research I discovered that Herbal Essence?s sales had dropped 6% over the last 2 years, because of their marked up prices. These were great pieces of information, as they will serve helpful during the marketing mix portion of my marketing strategy. The marketing mix is one of the first steps taken in applying an overall marketing strategy for your product. A Marketing Mix is the combination of product offerings used to reach a target market for the organization. (Armstrong & Kotler 2007) The marketing mix includes product, price, promotion and place (also known as distribution) My product is a high... ... middle of paper ... ... It really all depends on your target market. Marketing is always geared towards the customer. Without the customer, your business will not be successful. There are many ways that marketing strategies and tactics such as the ones I listed above for my new shampoo can be used to boost product sales and distribution. But, many factors come into play- the environmental factors and the technological factors, including competition. With developing a well organized and strategize marketing plan for any business or service it is important to remember to first plan, research, analyze, understand the customers needs and wants, then implement. References Kotler, P., (1990) Marketing Management: Analysis Planning and Control, Prentice-Hall p. 102. Armstrong G. & Kotler P. (2007) Marketing: An Introduction 8E Upper Saddle River, NJ Pearson Prentice Hall Publishers
A marketing strategy is an objective driven long-term plan which aims at achieving specific marketing goals. Clorox strategic plan aims at growing its sales volume by 3 to 5 percent annually and this means that the marketing team needs to come up with ways through which the required sales volume will be achieved.
Neutrogena products in the United Kingdom should support their campaign on the usage of anti-aging products, and this should let them change their design on the product’s packaging to meet the demands of their consumers. As time goes on, the demand from the consumers changes and so do their competitors. This means that the personal selling should have in place a way of getting data from wholesalers, consumers, and the retailers. This makes the personal selling a connection of agents that can make their way around every avenue as soon as the original market develops into a success. Advertising and public relations are exceptionally important in the creation of an effective campaign.
Armstrong, Gary, and Philip Kotler. Marketing: an introduction. 11th ed. Upper Saddle River, NJ: Pearson Prentice Hall, 2013. Print.
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.
Etzel, Michael J., Stanton, Bruce J., Stanton, William J. (2004). Marketing. (13th ed.). Boston: McGraw-Hill.
A marketer doesn’t just have a plan. Marketers now open up to a wider strategic plan and it’s based on steps that balance out what the market is offering consumers. These marketers must analyze their production with these steps, then make a portfolio of the growth and even their down falls therefore this keeps these marketers to continuously innovate and create even a greater amount of value for their customers. Marketing management functions are discussed along with the marketing mix and strategy.
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.
After studying the cosmetic market we can identify a series of needs in this market:
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.
To be a successful business, the owner of the business should use the marketing mix and the results of market research; having identified its key audience a company has to ensure a marketing mix is created that is targeted specifically to those people. The marketing mix is a term used to describe the four main marketing tools, Price, Product, Promotion and Place (EStartup business blog, 2010). An example of each 4P’s are: which products are well received, what prices consumers are willing to pay, what TV programs, newspapers and advertising consu...
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:
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.
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.
Everything now a day is marketed, from the water we drink, the food we eat and the clothes we wear. Marketing not only establishes brand recognitio...
The premise behind marketing research helps provide a company’s decision makers the information intelligence needed to make daily decisions (McDaniel & Gates, 2006). The data obtained gives insight to the performance of the current marketing mix while also providing insights to potential changes to future programs (McDaniel & Gates, 2006). Marketing research is a key driver to help define new ideas and initiatives that could improve company or product performance.