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Marketing principles - Assignment Example

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Marketing Principles: Case Study Name: Institution: The Concept of Marketing Marketing has various definitions depending on individuals or organization perceptions. It can be defined as, a “social and a managerial process by which individuals and groups obtain what they want and need through creating and exchanging products and value with others” (Drummond & Ensor, 2005, p.2)…
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Download file to see previous pages The aim of the process had to be under the management of a marketing manager (Drummond & Ensor, 2005). All these definitions are important. Marketing has to be under the management of an individual with appropriate skills to accomplish the missions set. It is a process that ensures the organization meets its objectives in terms of sales of products and services, and it is a process that has to ensure the consumer gets what he or she wants. One common idea is that it is an organizational process meant to increase profits. This could be by making the customers aware of the existence of the product, informing the consumers of its benefits, or even enticing consumers to buy the product. Marketing is a vast field and involves a lot of other organization activities. The manner in which an organization conducts its activities can also be marketing. Through their activities, people will get to know them and appreciate or grade them, hence improving the image of the company. This is indirect marketing (Drummond & Ensor, 2005). ...
This information is then disseminated across departments to ensure a specific aim is attained. It is all about an organization making use of the marketing concept as the basis for its marketing plans, therefore, supplying products that suit consumer preferences and tastes (Blythe, 2009). A perfect example is the production of iPhones by Apple and Samsung. These companies conducted thorough market research, found out the consumers’ desires, and used research and development techniques to develop what the consumer wanted: the iPhone with various pleasing features. The companies then made use of promotional activities to inform the consumers about the product (AFP, 2013). Marketing oriented organizations also have to monitor what their competitors do, and the effect of such actions on consumer preferences and tastes. The organization should also analyze the effect of other exogenous factors (Blythe, 2009). Marketing oriented organizations can also be oriented towards marketing from a sales, product, production, or marketing perspective. This means that an organization can focus on marketing a specific product, can focus on increasing sales, and can focus on improving its production, or even marketing the whole organization’s products. There are different perspectives that can be taken. In ‘Tip-Top accessories’ for example, the manager can focus on increasing the sales of all the products; hence identify marketing strategies appropriate for such an approach. The manager can also focus on the production approach, conducting market research and supplying products with features needed by the consumers, or the manager can just focus on appropriate marketing strategies for various products depending on the market environment, and the internal conditions ...Download file to see next pagesRead More
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