Marketing Principles - Coursework Example

Marketing Principles al Affiliation) Contents Contents 2 0 Introduction 3 1 Marketing process 3 2.0 Discussion 3 2 Marketing and marketing concept 32.3 Product and market orientated approach 42.4 Business macro and microenvironment 54.0 References 61.0 Introduction1.1 Marketing processThe way by which companies determine the kind or needs that may be of value to the customer. Communication and business developments form the major components of the marketing process. It creates ways that govern sales techniques, business developments, and effective communications.

For such a big company like the airline industry, they advertise their products both locally and internationally (Kotler & Armstrong, 2011).2.0 Discussion2.1 Marketing and marketing conceptMarketing is usually concerned with rewarding customer’s needs. Marketing concept focuses on the consumers’ needs and satisfaction. The idea holds that achieving the goals of the company lie squarely in finding the needs of the market targeted. The company should come up with ideas that will persuade the customer’s needs by offering better products.

Marketing concept relies on research carried out in the target market.2.2 Elements of the marketing Elements of the marketing process are sets of convenient tools. Such tools help the company’s blends to produce the impact it needs in the target market. There is a perception that if a company lowers the prices of the various commodities, the sales involuntarily increases. Such situations may be different. This is because customers may be looking for other components such as quality, cost effectiveness and value added services.

An airline company which reduces its price by cost cutting in areas such as; airport charges, direct sales to the customers and lowering the advertisement costs may get profit in the long run (Pride & Ferrell, 2003). Placement involves all activities of a particular company that makes the products available to the target customers. A good example is the emirates airline that has continuously advertised its services to attract more customers. Promotion entails the means through which the companies communicate to its customers about their product’s values and benefits.

Most companies in London have websites. Such websites act as a communication channel between the customers and the company.2.3 Product and market orientated approachMarket and product orientation are the two approaches of market orientation. Product-oriented approach involves a company developing products without having to focus on the customers’ needs. This kind of approach may often lead to unsuccessful ventures. A gas company in London may decide to introduce some new services without necessarily focusing on customers’ needs (Pride & Ferrell, 2003).

Market-oriented approach; the company develops a product with a focus on the customers’ needs. The products developed lie squarely on the information obtained during marketing research. The type of approach usually leads to successful businesses. Most of the airline companies use marketing oriented strategy. They have researched and came up with conclusions that a business customer may not want to delay at the airport (Kotler & Armstrong G, 2011)2.4 Business macro and microenvironment Marketing decisions are controlled by both micro and macro environment.

Microenvironment tends to influence the business directly through the suppliers, finances, and employers. An airliner like the Emirate airway may own all its planes and have their control. The macro environment consists of factors that indirectly influence the business. The company usually does not have a direct control over these factors. Such factors include “political, environmental, social, and technological factors” (Adcock and Ross, 2011). For instance, a company that invests in websites to market and sell its products gains competitive advantage.3.0 Conclusion For any company in London to thrive in a competitive market, it should consider doing a market research to help identify the customers’ needs.

This ensures the products developed are based on the customer needs and thereby raising their purchasing powers. Managing a mix and learning about the customers’ macro and microenvironment are vital components during the marketing of the various products.4.0 References Kotler, P and Armstrong G. 2011. Principle of marketing 4th edition, Pearson education.Adcock, H. and Ross .2001 Marketing: principles and practice, FT/ prentice hall. DrummondPride, W. M., & Ferrell, O. C. 2003. Marketing: concepts and strategies (6th ed.). Boston: Houghton Mifflin Co.