Marketing Fundamental - Assignment Example

Target marketing and market segmentation is one of the important marketing fundamentals. It is important for the business organizations to segment their products and services according to the characteristics of target market. Business organizations generally develop several marketing strategies according to the age, gender, location and behaviour of the customers. Effective and appropriate target market strategy can help an organization to develop strong and potential customer and business client base.

In addition to this, it is important for the organization to control several business operation cost in order to maximize business profit margin. Lack of effective operational cost control strategy may result significant loss which can hamper entire business operation and productivity. Brand management and brand building strategies are considered as other important marketing fundamentals. It is true that high brand image motivate the target customers to buy or consume the products. Strong brand building strategy helped an organization to secure an intangible asset that helps to attract the customers of various cultural backgrounds towards the brand.

Detailed market research is important for the organization to develop a new brand or a product. It is highly important for the organizations to plan several marketing activities according to the competence of products and current market demand. Last but not the least; it is essential for the marketing managers to judge the performance of products. and services through the help of product life cycle matrix. It is the most important marketing fundamental strategy that