MARKETING AND THE BUSINESS - Essay Example

Marketing and the Business Grade 28 February COMMON BUSINESSES FOR SALE Most of the businesses on sale were related to the real estate, electronic gadgets and furniture. Real Estate was, however, on the top. The reason for this can be the economic meltdown that is being faced throughout the world. Real Estate has no longer remained a viable option as there are fewer buyers. The demanded prices were also lower than what was expected. In my opinion, the most viable businesses would be a marketing firm or an agency.

The reason is the increased demand for promotional material for the products and services. DIFFERENCE BETWEEN MARKETING AND SELLING Marketing and selling cannot be used interchangeably as they are two different concepts. According to Kotler, (1999, pp. 17) marketing is a process which starts well before a company launches a product. Marketing is a practice which persists throughout a product’s life cycle, striving to look for more customers, increasing the demand for the product, and increasing the sales volume.

It is actually the groundwork that managers carry out to evaluate the requirements, calculate their level and decide whether it will be profitable to come up with a specific product. Selling, on the other hand, is carried out after a product has been made. PRODUCT OF MY CHOICE I would like to run the business of mobile phones. Mobile phones, nowadays, have become a necessity and are also popular among the teenagers and adults. Two strategies will be used in this business which includes pricing strategy and direct selling.

The former strategy is a part of marketing strategy while the latter is a selling strategy. The philosophical concepts that will guide a marketer are mentioned below. Marketing Strategy The target market for the mobile phone is the teenagers and the youngsters up till the age of 22. To attract this group of customers, psychological pricing would be employed. Psychological pricing would be like £399 instead of £400. This sort of pricing would send a message to the customer that the value of the product is much greater than the price asked for it (Kotler & Armstrong, 2010).

Selling Strategy Direct selling strategy would be used in which salespersons would approach the youngsters in their homes or educational institutes and persuade them to buy the mobile phone. This strategy will provide convenience to the customer as he /she will not have to visit the shop to buy a mobile phone (Kotler & Armstrong, 2010). SUMMARY The lesson differentiates between selling and marketing, followed by details of how to develop a marketing strategy and what activities can be carried out to market a product.

The success factors for a business are delineated and points which should be kept in mind while buying a business are given. The text gives some alternative choices for businesses. CONCLUSION This paper identified some businesses which are commonly on the sale, provided suggestion as to which business could be the most viable and differentiated between marketing and selling. Furthermore, it also proposed some suggestions for marketing and selling of a specific product. REFERENCES Kotler, Philip (1999).

Kotler on Marketing: How to Create, Win and Dominate Markets. NY: The Free Press. Kotler, P., Armstrong, G. (2010). Principles of Marketing. 13th Edition. New York: Pearson Education Inc.