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Marketing principles - Assignment Example

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Therefore, they are elements that an organization can use to create demand for its products. The following are the elements of the marketing process.
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Marketing principles
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Download file to see previous pages Lowering prices increase the sales volume of the company. In some cases, consumers do not consider the price of the product, but instead go for quality, cost effectiveness, accessibility, time, and value added. Therefore, price influences the companys growth and at the same time limited in its scope.
These are company’s activities, which makes the product available to consumers. For products to be available to consumers, an organization must target larger geographical coverage and open distribution centers. Similarly, goods have to be placed next to consumers to allow their accessibility. Because of this, companies open distribution networks to enable the products and services reach the target market.
This is a way the company communicates to its customers about the product, values and benefits. There are different ways an organization can promote its products, and they include internet marketing, print media adverts, direct sales among others.
Marketing orientation is of benefit because it makes the organization respond to demands. It enables the organization to react to what customers want hence eliminating guessing and forecasting characterized by guessing what consumers wants.
It also helps in building customer values, which helps a company in increasing customer loyalty to the brand. This benefits the company because it gives a competitive advantage and solidifies the customer base. The company also benefits from reward sales because of customers repeat larger purchase.
However, it is costly because the company has to invest in marketing research. This may prove to be expensive for an organization will have to move and conduct a study in order to know what customers prefer.
The microenvironment influencing MacDonald marketing strategies involves issues of its managements. For instance, the company has many customers, which influences its marketing decision. It has to market its products to reach its large customers ...Download file to see next pagesRead More
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