Table of content
Solution of Task 1…………………………………………………………………………………………………………………………………3
Solution of Task 2…………………………………………………………………………………………………………………………………4
Solution of Task 3…………………………………………………………………………………………………………………………………5
Solution of Task 3…………………………………………………………………………………………………………………………………6
Solution of Task 1
Describe the role of internet marketing has within a modern marketing context. (P1)
Marketing is the method of communicating that the price of a goods or services to customer, for expected selling. It is the communicating method between a society’s demandable materials and economic pattern in exchanging money.
Product, Price, Place and Promotion known as 4Ps and marketing mix. These are the base of marketing. which is development product and distribute to different place to sell with price and it’s promotional activities, 4Ps extended to 7Ps. Marketing also mixing of relationship marketing, identification of new product and market development opportunities, modern information and communications technologies such as ICT, tactics to reach business goals, targeting and market segmentation. Demographical, psychographic, economic, usage based; business-to-business, business-to customer and customer-to-consumer, disintermediation and direct market communication by manufacturers.
Internet marketing popularity is increasing day by day. Many business organizations are using internet to direct communicate with customer and to get more attention of customers. It helps to build one to one relationship, customer get sufficient information about products and company and company can give enough information about products and company reduce their cost. Internet marketing also helps to reach wider and distant markets; product im...
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Marketing is the process of searching for options for accumulating profits by identifying the demands of the people and satisfying their needs with appropriate products. In today’s globalized business world, marketing can play a vital role in establishing trade blocks all over the globe with competitive and cutting edge market, research, policies, strategies and activities.
The marketing mix is for the most part made up of four elements, and they are product, place, price, and promotion. These elements are time and again referred to as the four P’s. Countless sources will portray the marketing mix as a formula used in creating a feasible marketing strategy, with each component utilized in various ways and in different intervals supported depending upon the product or service the group or individual is attempting to market. The marketing mix will be described using three sources to illustrate the elements of the marketing mix. 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 has evolved since the olden days when people used to trade with goods for goods. This led to the introduction of the trading centers where people could go and exchange their goods with others and mostly the agricultural products. The theory of marketing explains how the market came into existence and the various means in which the marketers, the producers, the sellers and the consumers ensure total satisfaction. In this essay different subjects concerning the fundamentals of marketing theory have been discussed and how they affected the traditional market and the present market.
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.
It basically constitutes 4P’s of marketing mix such as price, place, product and promotion. All these 4P’s have similar repercussion for the promotion of products in various organizations. These justifiable elements of marketing mix can be utilized by a business organization to increase its marketing efficiency. With the marketing mix, a company can have access to marketing information so as to determine the outcomes of the marketing activities on its total sales. The company can evaluate the extent of efficiency of its marketing activities using the information gathered from the marketing mix.
The Marketing Mix is a marketing tool. It is often crucial when determining product or brand's offering, and it is also called as 4P's (Product, Price, Promotion, and Place) of marketing. However, in case of services of different nature the 4 P's have been expanded to 7P's or 8P's.
The marketing mix helps a company define the marketing elements for successfully positioning a market offer. The four P’s model, one of the best-known models, helps a company define its product marketing options in terms, place, price and promotion (MindTools.com, 2010). To enhance their impact with their target market, companies often use this model when you are planning a new venture, or evaluating an existing offer. As companies start out in an industry, many marketers learn about putting the right product in the right place, at the right price, at the right t...
The research analyzed the importance of the internet as a marketing tool in the U.S., Europe and Asia to determine (1) what factors inherent in the internet result in marketing success, (2) how the potentialities of the internet as a marketing tool affects efficiency and impacts business, (3) establishment of a "theoretical set of reference for the accounting of the results achieved with internet presence" (Tiago, Couto, Natario & Braga, 2007, Hypotheses section, para. 2), and (4) enhance current knowledge regarding the "types of company activities that use the internet as a fundamental component of the business" (Tiago, Couto, Natario & Braga, 2007, Abstract headnote section, para. 1).
Marketing is a vital component in the success of businesses. Smaller businesses rely on business advertising, expenses, knowing if the business is networking with the right people, or joining the best organisations which lead to success (EStartup business blog, 2010). Marketing concentrates on customers and what the customers want. Customers are the source of sales and profits. Many small businesses are faced with remarkable hardships due to not developing the right marketing plan (EStartup business blog, 2010). To help these businesses a more appropriate or better marketing plan needs to be designed. Small business internet marketing services can help businesses develop and thrive in a highly competitive market. For the highest quality internet marketing services, hiring an online marketing company to design a customized internet marketing campaign may be advantageous for some businesses (EStartup business blog and contributors, 2010). Identified will be the role that marketing plays in a successful business demonstrated by use of two examples, the importance of developing a marketing plan, and ethical and legal issues that surround marketing practices (EStartup business blog, 2010).
The marketing mix, also known as the 4 Ps of marketing, refers to the set of actions that a company uses to promote its brand or product in the market. It consists of product, price, place and promotion. All elements of the marketing mix influence each other. They make up the business plan for a company and can give it great success.
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.
In all reality, all businesses will, in some way shape or form, complete all of the marketing activities, even if completing these activities is not their main goal. (Dlabay 2006.) These marketing activities are product, place, price, and promotion. A business tool called that marketing mix takes all of these activities and puts them together in a way that can be used to help improve a business’s marketing strategy. Product is what the company is selling; Place is where the consumer will obtain this product; Price is what the consumer will pay for the product; Promotion is any type of communication that is intended to remind, inform, or persuade. (Dlabay 2006.) The marketing mix and the four P’s describe very well what business marketing is all about.
For businesses small and large, marketing is essential in promoting a service or good to potential consumers. The ultimate objective is to maximize profits by creating consumer awareness of a certain brand. The results of successful marketing includes higher sales, and a solid reputation in the industry. In any industry, there are various ways to advertise a product or good. Traditional marketing refers to the non-digital methods of promoting a product, which includes newspapers, radio, direct mail, and telemarketing (“Digital vs Traditional Marketing”). Digital marketing is considered an ‘umbrella term’ which refers to the use of any digital media, such as the internet, social media, emails, and blogs,
Product – the first element of the marketing mix – includes investigation and research on the potential customers’ needs in order to be able to develop products to satisfy these needs.
Online marketing is a sub system of e-commerce which is defined by Gartner Group, USA as “a dynamic set of technologies, integrated applications and multi-enterprises business processes that link enterprises and consumers together”, which covers the use of messaging, networking and applications to enable communication of business information. E-Commerce could take place between businesses, business to consumers (e.g. Amerzon.com) or between customers facilitated by an intermediate service provider (e.g. e-bay).