Business Management - Essay Example

Duties of a marketing manager

1. Seek to influence demand
2. Influence timing of demand
3. Influence composition of demand

The Eight Demand states that are possible are:

1. Negative demand – People pay a price to avoid a product
2. Non-existent demand – Consumers are uninterested in a product
3. Latent Demand – the strong need consumers have cannot be satisfied by an existing product
4. Irregular demand – Purchases are seasonal
5. Full demand – all products brought are bought
6. Un wholesome demand – undesirable consequences of attraction of products
7. Overfull demand-supply is more than the demand for products

Global markets – The Company decides to market its products all over the world. This is sensitive because different countries have different customers hence the product they get a profit or a massive loss, which will lead to the closing down of the company.

Nonprofit & Government market – This is low purchasing power since the physical markets that were being used a while ago are have been eliminated since markets have started marketing their products online hence one can buy a product online and give a complaint when the product is not as demanded.

Managers have to follow certain criteria when leading marketing in a company. They are:

1. Market technology utilization
2. Brand strengthening
3. Customer insights are gathered meaningfully
4. Measuring marketing effectiveness
5. Customer needs calls driving new product development.

MARKETING CONCEPTS

In marketing their some concepts which when followed help the marketer achieve better results for the company or individual.

They include:

1. Value and Satisfaction

A product perceived tangible & intangible to customers is the value of a product.

2. Offerings and brands

Companies make a value proposition when they wish to satisfy their customers’ needs with their products the value of the product is made physically, which can be a service, experience, or product

3. Needs wants and demands

The basic human requirements are needs. The five types of needs are:

a)stated needs

            b)Unstated needs

            c)Secret needs

            d)Light needs

Wants are for specific objects that may satisfy the need. Demands are want to be backed up by pay.

4. Marketing channels

They include distribution channels, service channels, and communication channels for example the delivery and receiving of messages, the display and transportation companies

5. Supply channels

This is the final product that is compensated by a channel of raw materials.

6. Competition

A marketer should have an idea of their competition so as to be aware of what to do to increase profits, products

New opportunities and behaviors include:

• Globalization
• Deregulation
• Heightened competition
• Network information technology

Conclusion

In conclusion, for a product to incur maximum profits marketing strategies have to be implemented.