Marketing Fundamentals and Enviroment - Coursework Example

Marketing Environment Introduction: For the success of any organization/brand in the market, a lot of hard work is required. That particular organization would certainly have to face a lot of challenges in the marketing environment. An organization could not simply be well known within a day or so. Proper communication and the demand of that organization/brand have to be certainly created in the prevailing market. Communication is basically Congress, interaction and correspondence with others. Within and outside the organization you transfer and deliver information, ideas, opinions, instructions, orders, letters, reports and others materials. The more the communication is done better result would be. Good result is of course the desire of every marketing personal. Communication is the act of influencing and inducing others to act in the manner intended. Sharing of ideas with others is basically communication. Thus, we could simply say that normally there is duration of time period for a particular organization/brand to simply be identified in a particular market. For all this there are a certain factors that should be followed in order to be successful. (DiMaggio, n.p, 2001) Time utilization is one of the most essential elements in the promotion of any organization/brand. If the allocation of proper time is done and every specific factor is taken under consideration then the desired result could easily be achieved in less time period. An excellent example of a very successful brand is ‘mother care’. This specific brand by the name of ‘mother care’ is a unique collection of all the items of children wear, as well as furniture, stationary, toy and much more. This brand has got a very good collection of everything that a child basically requires and in reasonable price. It is due to this reason, that people like shopping in ‘mother care’. One of the other reason is that ‘ mother care’ have got their outlet basically in all the countries of the world, no matter where you go and if you would like to buy their product you can easily get it anywhere in the world. It is very much true that these organizations/brands do have to face a lot of challenges in the market, their unique collection of stock. Let, we take ‘levis’. This brand is famous for its good quality of products. These products are durable, comfortable and good to wear; especially the youth of today really likes this brand. This brand has become so famous due to the reasons stated below. (DiMaggio, n.p, 2001) A lot of advertising has to be done in order to tell the public that this brand is available in the market. This is again one of the ways of communication. Advertising could be done through newspapers. Television, radio, etc. The best media is of course through television. Even through this media is expensive but the result is good and quick. After advertising next step could also be the cost of the product. As we all know that nowadays there is a lot of competitions in the market so the price of the product should certainly be taken into consideration after deciding which kind of public have been targeted. Normally the brand target high-class of people but this is not always the case. Attraction in the product is without any doubt one of the most essential elements that have to be taken into consideration. A specific brand should most certainly have something extra-ordinary that should encourage the customers or the buyers to buy the product willingly. All this have to be seen by the brand manager to make a certain product into a brand. Quality of product is again one of the most essential elements that should be taken into consideration. Like all the products of “mother care” are nice to look an especially its furniture and all the cloths are very comfortable, nice to touch and easy to wear.” Mother Care” toys are very colorful un-harmful and nice to play. So the mother’s really like this brand for there kid’s. Durability of any product is no doubt of one of most crucial element in any brand. We could take “Akai” the furniture of Akai is beautiful, elegant and durable. This furniture maybe placed any where, may it be in office or may it be in at home. It will certainly look good. It is true that one has got to face a lot of challenges and have to cross unlimited problem in order to be successful. (DiMaggio, n.p, 2001) Reliability in a product is equally important. As it is that if a person, using a certain brand is satisfied with its quality then that person would certainly tell other people about it. This way there will be word-of-mouth advertising. At the same time maintenance of that particular brand quality is of course very essential element that have to be considered, and cannot be over looked at any cost. As it is , if the quality of the brand will decrease then this would eventually decrease in the sale of that product. Which would not be good for the organization that is producing or making that particular brand? We could say that “A brand is a product from a know source (Organization). The names of the organization can also serve as a brand. The brand value reflects how a product’s name or company name is perceived by the market place”. (DiMaggio, n.p, 2001) While taking-care of the customer’s choice a lot other factors have also to be considered. Those factors are the social, legal, economic, political and technological factor. Without any doubt, the above mentioned factors hold a lot of value in the marketing of a product or a brand let us first discuss the social factor. The social factor basically means which classes of people are being targeted by the organization that is making that particular brand - whether it is the upper-class or the upper-middle class, middle-class or the lower class. We could say that the brand Akai is basically for the middle-class people. Thus the price is also reasonable as well as the furniture is of great-class and has got on elegance touch. The makers of Akai furniture goes also have furniture which is also specially designed for the upper-class. That furniture would of course be expensive. This brand name is well-know due to their extensive advertising. People from all around the world love to buy their things because of quality, taste, elegance, durability, easy accessibility and their brand name alone says it all. (DiMaggio, n.p, 2001) The other factor is the legal factor which alone is one of the most important factors which discuss brands. This quality of that particular organization is producing that particular brand. A good example could be of “mother-care” products makers. If some other company make the same kind of dress, same colors, same designs, same quality and sells it off for less price. This would of course be wrong and the makers of “mother-care” products could simply sue that company because that is illegal. This could also be wise-versa if the makers of a particular brand simply copy’s someone else ideas then that would of course be illegal. This is the reason that when a particular brand is made and is advertised it should be unique, stylish, something in fashion and some thing for which people would willingly pay the price, for that particular product. It should also be unique, by this we mean to say is that that particular product, its quality should be such which should not be available in the market. This way the demand of that product will increase and this will of course result in more sales. (DiMaggio, n.p, 2001) The markets of a particular brand have to take a lot of risks, like it was discussed earlier that they have to take the risk of designing a particular products of a certain type and design and then bring that product in the market, in front of people so that they look at it and demand it - at the same time of course, giving that product a brand-name. This is the risk which they have to take in order to know where they stand in the market. The next factor which is also equally essential and important is the economic factor. This basically means that economically the product of a particular brand should not be very expensive. This basically means that which ever class the organization is targeting that class should be able to buy the product as it is that Akai is designed for middle-class people. Thus, this furniture of this brand should be such that targeted people should be able to afford it. Like wise the watches of “Rolex” brand are specially designed for upper-class of people for these watches are very expensive. Thus, we could say that all the factors are equally essential which designing and political factor which is also very important in the marketing environment. It is due to better communication and mutual understanding between different countries of the world marketing and trading having been come easier. “Throughout the world, the strong boundaries that once separated firms have become less distinct, while traditional arms-length market transactions have become more intimate. New forms of coordination--"relational contracting"--have emerged that entail much less commitment and control than bureaucracy, but more binding ties than simple market exchange. Moreover, business alliances--groups of legally independent companies knit together by such factors as ownership by one extended family, mutual shareholding, or strong, enduring collaborations--achieved new visibility when the economies they dominate entered the world's center stage (as in the cases of Japan, and then in Taiwan and Korea), or emerged anew in response to institutional volatility in the wake of regime change (as in Russia and Hungary)” - as it is that brand names usually have their names all around the world. If there will be problem politically then many of organizations producing a certain kind of brand will have to force problem. (DiMaggio, n.p, 2001) Last but not least a factor which is the technological factor can not be denied. As it is that due to the latest technology and advancement the organization have to make good and product them according to the demands of their customers. For it they would not do that then their goods will not sell in the market. Thus, due to this reason a lot of capital has to be invested every year due to so much competition in the existing market. For example if the producers of mother-care commodities don’t make their cloths as the fashion-going on in the market their cloths, furniture will of course not sell. (DiMaggio, n.p, 2001) Conclusion Now, we could simply conclude by saying that marketing of a brand by its producing organization is not an easy job. A lot achieve and huddles have to be faced to achieve the goals. Then after a certain period of time a product simply gets a name and identity. References Brand Definition. Define Brand. What is Brand? http://www.learnthat.com/define/view.asp?id=279 Accessed October 29, 2007 Sample Chapter for DiMaggio, P., ed.: The Twenty-First-Century Firm: Changing Economic Organization in International Perspective. http://press.princeton.edu/chapters/s7205.html Accessed October 29, 2007 Read More