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Principles and Practice of Marketing Management - Coursework Example

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"Principles and Practice of Marketing Management" paper describes the concept of marketing, supply and demand, the dynamic environment, marketing information systems, marketing research, segmentation, targeting, positioning, and Business Growth Matrix…
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Principles and Practice of Marketing Management
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Download file to see previous pages Marketing is dealing with future demand for a product (Duus, 1997). Marketing is about simply giving information aside from creating a demand. In the first place, marketing is telling something about the product or services to be offered and this is for the sake of educating consumers, buyers, or users.

It is a fact that with marketing, since it is about creating a demand about the product, then the company producing such products and applying marketing concepts is eventually will need to ensure its supply is available in the market. This is evident in which upon broadcasting the product on national television, it is already ensured that the availability or supply of such products is found in the market for easy access to consumers. After all, marketing is about meeting customer needs more than the competition itself (Jobber, 2007).

As observed, products and services offered by companies do not get much attention because of poor information that is communicated to the people that the company or product exists. People at some point may either know of a business’s products and services offered but they do not care because they are not aware of its details or they are not familiar with the product’s existence. The marketing concept is about the target market, customer needs, integrated marketing, and profitability (McCarthy and Perrault, 2000).

In today’s competitive world and in which almost everything is set up in competition, marketing must undergo further innovation to simply create a competitive advantage. In this dynamic environment, there is a need to double the effort in creating demand, and such can be observed through marketing innovations. Competition is becoming fierce due to the availability of marketing media. It is becoming a way of life for companies. With this competition, customer needs are highly viewed as necessary in all aspects of the marketing concept. After all, Kotler (2002) described marketing as a customer-centered approach. ...Download file to see next pages Read More
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