To Make the Worlds Information Useful and Universally Accessible - Coursework Example

American Marketing Association in 2013, defined marketing as an activity, set of institutions, and ways of increasing communication and exchanging contributions that have value for consumers, clients, associates, and the public at large. Dr. Philip Kotler in 2007 stated that marketing is the art and science of developing and providing value to meet the needs of the target population (Kotler & Armstrong, 2011). 2.2 Elements of marketing process The process of marketing involves activities that include pricing, design, advertising, and other strategies.

Such activities have to be done during marketing. Elements of the marketing process entail research, planning, tactics, and strategy (Pride & Ferrell, 2003). 2.3 Table showing the various elements of marketing Research Market research entails finding out what the market needs. Data gathered during research helps the company to develop products that will suit consumer wants. If Google company has to increase its sales and remain in the market for a longer period, then market research has to be done.

Data obtained from the market will enable the company to continue to develop products that will satisfy consumers’ needs. Strategy These are decisions made by the company to help them compete favorably in the market. Such decisions are developed from data collected during research. Google company has to develop new goals and plans which are strategic. The decisions are based on the data collected that enables the company to outshine competitors. Planning explains how the company intends to achieve its goals.

The marketing department of the Google company plans for the expenditure and makes sales forecasts to help achieve its goals. The plan is usually reviewed from time to time. Tactics Companies use immediate plans to become competitive in the market. Such plans or tactics are usually short-term. Google company uses such a plan to provide products that are of value to the consumers and thereby help to meet their needs. 2.4 Marketing myopia Is a situation where the company focuses on the immediate approach when marketing their products rather than basing on consumers’ needs.

This may make the company unable to adapt to abrupt changes in the market. Google Company should avoid such kind of approach as they market their product around the world. (Adcock &Ross 2001) 2.5 Marketing orientations Product orientation involves a company developing products without having to focus on the customers’ needs. This kind of approach may often lead to unsuccessful ventures. The market-oriented approach is where the company develops a product with a focus on the customers’ needs.

The products developed depend on the information obtained during marketing research. This type of approach usually leads to successful businesses. Production orientation occurs when companies produce a lot of products to bring the cost down. Such a company believes that producing the products in masses will result in the cost decline and thereby profit maximization. Sale orientation involves developing products and selling them to the consumer. The approach however may not bear fruits having in mind that the best strategy involves doing market research before developing the product.

Market research is usual for the business to prosper. For Google Company to continue doing well in the market, they have to spend enough capital in carrying out market research to produce products that consumer wants (Kotler & Armstrong G, 2011) 2.5 Benefits and costs of marketing orientation to Google Company has for many years utilized market-oriented approach. The company has always targeted consumers’ needs in developing its products. This has enabled the company to build loyalty and develop regular customers.

Customers have also become resistant to products produced by other competitors due to brand loyalty. The company has continued to gain huge profits because of its high-quality products and value. Market-oriented approach, however, has some shortcomings. Google Company may end up lacking the guessing and foretelling, associated with the attempt to predict product trends and demands of the customers (Adcock &Ross 2001). For the company to implement a market-oriented approach, many resources should be utilized for market research. 3.0 Conclusion For any company in London to thrive in a competitive market, it should consider doing market research to help identify the customers’ needs. This ensures the products developed are based on the customer needs and thereby utilizing their purchasing powers. Managing a mix and learning about the customers’ macro and microenvironment are vital components during the marketing of various products.