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Marketing Principles - Marketing Module: Tasks Tip-Top Accessories - Essay Example

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Marketing Principles, [Surname, Name] [Professor,] [Course,] [Institution,] [Date] The link between society’s material requirements and the economic patterns of response is commonly referred to as marketing. Therefore, marketing is a process that ensures the interaction of a product(s) and its consumers and the value of a product or service to its customers (Kotler, Philip & Keller, L…
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Marketing Principles - Marketing Module: Tasks Tip-Top Accessories
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"Marketing Principles - Marketing Module: Tasks Tip-Top Accessories"

Download file to see previous pages In order to penetrate the market to which am targeting. The adapted strategies will have to meet the local and international standards of marketing. A business philosophy or culture culminates to the actual implementation of the marketing concept. It includes the decision-making perspectives of the organization, therefore, the implementation of the marketing concept. (Kohli and Jaworski, 1990). They added that "a market orientation appears to provide a unifying focus for the efforts and projects of individuals and departments within the organization." For example, in the case of tip-top accessories, it is clear that the company already has a loyal bas end it being in the industry for over 30 years means that a culture has been created. To achieve the benefits of market orientation, tip-top accessories will need to adjust to the customer needs, as a marketing manager the pressure to focus decisions made to the needs of the consumers and the value of the products will have to be dully met. ...
industry Considering Tip-Top accessories were to expand its operations, it is expected that there will be internal and external environmental factors affecting the company. One of the micro environmental factors likely to be experienced in the process will be the price or the product depending on the extent of expansion. If the demand were to increase, the price of the products would increase in the same trajectory, This Is a factor that Tip-Top accessories can directly control in comparison to political, legal, social cultural or technological factors (Macro environmental factors) to be experienced. As a result of the expansion, for example, and an increased demand of our products, there will be the need to produce goods in large quantities which means a different technological approach and a cultural consideration to the geographical places we enter. Mass consumption of our products will increase the efficiency which in turn saves on costs, in the long run higher profit realization as a result of cutting down costs and the cycle continues. Tip-Top accessories has a well-defined target market, this being the case then, this will be the group that our business decides to aim its marketing efforts and its products to successfully reach out to the whole group. For example, if we were to target the group of students, then we would be answering the psychographic segmentation, that is, the values, similar attitudes, and lifestyles. If the target group is of those with over the age of over 30, then it would be of great consideration to consider the demographic/social economic segmentation which considers factors such as age, income, gender or even the occupation. Market researchers have also come up with a process of advocating for needs-based market segmentation with the ...Download file to see next pagesRead More
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