Nobody downloaded yet

Principles of Marketing - Book Report/Review Example

Comments (0) Cite this document
This paper focuses upon theoretical review of marketing. Kotler & Armstrong define marketing as a fundamental management function whose key mandate is to determine the product for a particular product or service. The definition implies that marketing is a vital function…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93% of users find it useful
Principles of Marketing
Read TextPreview

Extract of sample "Principles of Marketing"

Download file to see previous pages In doing this, the marketers must investigate the nature of the market thereby introducing a product that has value in the market and would, therefore, claim a share of its own in the market.
Marketers use various effective marketing tools and strategies in achieving profitability and longevity for their products and services. Key among such tools is the marketing mix. The marketing mix provides marketers with four vital elements they must consider when positioning a new product. The four are the product, promotion, price, and place. The four factors influence the profitability of a product and are therefore vital in marketing a product. Launching a new product is more difficult and therefore requires the marketers to employ such strategies systematically and with both caution and information about the market thereby ensuring that every activity enhances the profitability of either the product or service. STP is yet another marketing tool that enhances the launch and creation of a successful brand. It refers to segmentation, targeting and positioning. Such are vital marketing endeavors whose success contributes to the success of the product.
Promotion refers to the process of raising market awareness on the existence of either a product or service. A product requires adequate visibility in a particular target market. This way, the target market recognizes the product or service thus purchasing it from the stores. Advertising is the surest way of enhancing the awareness of a particular product in a particular market. Marketers use various media to advertise their products. Such media include the traditional media and the new media. The traditional media consists of the television, radio, newspapers, and magazines among many others while the new media consists of the internet and its inherent features such as the social media and websites among others. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(Principles of Marketing Book Report/Review Example | Topics and Well Written Essays - 1500 words, n.d.)
Principles of Marketing Book Report/Review Example | Topics and Well Written Essays - 1500 words. Retrieved from
(Principles of Marketing Book Report/Review Example | Topics and Well Written Essays - 1500 Words)
Principles of Marketing Book Report/Review Example | Topics and Well Written Essays - 1500 Words.
“Principles of Marketing Book Report/Review Example | Topics and Well Written Essays - 1500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Principles of Marketing

Principles of Marketing

...? Marketing principles Introduction In order for any company to satisfy their consumers’ needs, a company must come up with appropriate strategies of marketing and promotion mix. The main goal of a marketing stratagem is to identify a target market and formulate an appropriate marketing mix which will be appealing to the customers. Decisions that concern promotion mix can be categorized as 4ps of marketing which involve promotion, price, place and product. Marketing segmentation Market segmentation is described as division of the market into different subsets of consumers who have similar needs and applications for the relevant goods and services. The main reason behind market segmentation is to help a company understand the needs... , D....
3 Pages(750 words)Essay

Principles of Marketing

...? Principles of Marketing Segmentation Targeting and Positioning in Shampoo Market A brief review of the industry Multiple hair care options have nowflooded the market in the form of shampoos, conditioners, hair dyes and several other products. The size of this industry can be imagined when one gets to know shampoo industry in only India is valued at approximately half a billion dollars and growing at a current rate of 20% annually. Future estimations predict the growth rate to increase and become 25% per annum. This sure is a huge market and FMCG marketers have gone all out to tap this new market in a bid to substantially boost their bottom-lines. However, the penetration levels are still at the paltry level of 15%. More than 50... % of...
4 Pages(1000 words)Essay

Principles of Marketing

...?Principles of Marketing When I started the module, I did not have much knowledge about marketing in essence. I was astounded that how marketing can pose to be a major force to reckon with but this is not the case anymore. What I have learned during this while is something that has properly constructed my basis for marketing in the times to come. I have learned that group dynamics are important from the marketing perspectives. The group activities form the core essence of the marketing realms and these are significant towards understanding the said dictums. More than anything else, there is importance of working in...
2 Pages(500 words)Essay

Principles of Marketing

...?It can be difficult to determine the specific example that epitomizes exceptional business marketing. Many fields and industries excel at marketing,but few truly personify the multiple dimensions of marketing required to not only survive a global financial crisis, but can also manage to excel in the mitts of one. The best example was found in the least likely place, buried deeply in an industry failing in hard economic times; skilled nursing facilities in the United States. Within this industry exists Life Care Centers of America, a skilled nursing corporation of more than 200 nationwide facilities that has found success in the most difficult economic times due the nature in which their marketing directors engage their individual... ...
8 Pages(2000 words)Research Paper

Principles of Marketing CA

...Trident International Number: MKT301 Term: Fall Module Number: Module One Topic:  MKT301 - Principles of Marketing CA   In bold below there is a list of three product categories. Within the product categories listed below identify TWO purchases you have made. ONE must be a High Involvement purchase, and ONE a Low Involvement purchase. The two purchases can be from the same product category, or from two different product categories, as appropriate:  • Computer software (e.g. game or app/application)  • Underwear  • Restaurant  Excluding the title page, any appendices or references, write a four page paper in which you do the following:  First Page  Applying the teaching materials, explain why one product...
4 Pages(1000 words)Essay

Principles of Marketing

...Principles of Marketing According to the world recognized marketing guru Philip Kotler (2001), "marketing is the delivery satisfaction at a profit." He further stated that marketing has a twofold goal which includes attracting potential customers by the promise of delivering superior value and retaining current customers by continuing the delivery of customer satisfaction. This view about marketing has huge implications for business organizations. For one, it highlights the current emphasis placed on satisfying customers by delivering products and services that they value. This new approach also emphasizes that companies should become...
8 Pages(2000 words)Essay

Principles of Marketing

...Principles of Marketing: Mascara Industry The purpose of this paper is to address the ‘promotion’ and ‘place’ elements of the marketing mix as they relate to the mascara industry. The format that this paper will utilize is to provide a discussion in the promotion element by identifying what components of the promotion mix are commonly used whilst also providing a description of what the promotional objectives are and how these are achieved. Lastly a discussion of what the media tells a typical observer about the promotion strategy of the company will be conducted. In regards to the ‘place’ component of the marketing mix this paper will discuss what distribution strategies...
3 Pages(750 words)Essay

Principles of Marketing

...equipments, sunglasses, basketballs and soccer balls. An already established brand used in brand extension is known as a parent brand. Conclusion Indeed when it comes to developing brands, a company has got four alternatives from which it can choose from. These alternatives include: brand extension, which involves the use of renowned brands to introduce others in the market; line extension, where the successful brand names are used to design more product in the same product line but with different shape, color, taste among others; the third choice is introducing new brands and finally multibrands which means introducing a number of products in a category that is new. Reference Kotler, P., & Armstrong, G....
2 Pages(500 words)Essay

Principles of Marketing

...Principles of Marketing Short Answers – In the spaces provided, please provide a detailed answer to the following Based on the branding terms from the “Elements of Product Planning” chapter, please identify a Brand for each of the categories below and the primary buying motivations of the customers. Type of Brand Example of a Particular Brand (Company) What is the Primary Buying Motivation for Customers seeking this Classification of Brand? 1. Generics sellotape Customers classify products under generic brand names because of a particular brand been dominant in the market or having existed in the market for a long time. For instance, brands such as sellotape, Hoover and biro are considered more than just brand names but a noun... or an...
6 Pages(1500 words)Term Paper

Principles of Marketing Report

...Principles of Marketing Report 1. Geographically which region do you suggest your company target? The company should target regions with a higher population of people who are relatively young and optimistic. The company should, therefore, target California. California is ideal because it has a large population of Hispanics who are young and would want to try out a new product which will be affordable as compared to the established brands. With the increase of population in the state, it is economically viable for the organization to target the state. 2. Which generational demographics will you target? Generational demographic involves marketing products with a particular age group in...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Book Report/Review on topic Principles of Marketing for FREE!

Contact Us