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Marketing - Essay Example

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-Explain marketing concept # book reference or lecture reference # cite extra reference 2- analyze the concept with a personal experience * organization 2011-03-07 10:55  Deadline:   2011-03-12 08:56 Time Left:  4 days 21h 40m Style:  MLA  Language Style:   English (U.S.)  Grade:   n/a  Pages:  2  Sources:   4  A concept is the overall idea or structure of something and marketing is how a product is moved through a channel to reach its target consumer…
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-Explain marketing concept # book reference or lecture reference # cite extra reference 2- analyze the concept with a personal experience * organization 2011-03-07 10:55  Deadline:   2011-03-12 08:56 Time Left:  4 days 21h 40m Style:  MLA  Language Style:   English (U.S.)  Grade:   n/a  Pages:  2  Sources:   4  A concept is the overall idea or structure of something and marketing is how a product is moved through a channel to reach its target consumer. A marketing concept embraces the philosophy that good marketing strategy always has the needs and wants of the target market in mind. Marketing concepts are formed as creative approaches to the problem of how to get a product needed and desired by a group of consumers to be selected and purchased by this group. The crux of good marketing is being able to communicate the benefits of the products to consumers so that they will choose the product over competitors' offerings A concept is the overall idea or structure of something and marketing is how a product is moved through a channel to reach its target consumer. A marketing concept embraces the philosophy that good marketing strategy always has the needs and wants of the target market in mind. Marketing concepts are formed as creative approaches to the problem of how to get a product needed and desired by a group of consumers to be selected and purchased by this group. The crux of good marketing is being able to communicate the benefits of the products to consumers so that they will choose the product over competitors' offerings Although marketing communication is by its nature creative, it should always be strategic and thoughtful as well. Advertising should interest and motivate the target audience, while creating a desire for the product. For instance, some advertising attracts attention, but seconds later, the product itself is forgotten. Good marketing keeps products in the target consumer’s mind. Each marketing concept must also fit in with a company's advertising budget. http://www.wisegeek.com/what-is-a-marketing-concept.htm. MARKETING CONCEPT A number of authors have defined marketing concept. But overall, it is narrowed down to a definition that explains how business successfully moves its products from their factory to the consumer. In the explanation of Cyprus (n.d.), marketing concept is a strategy that always keeps in mind what the consumer needs and wants. It is a concept based on the philosophy of importance of customers in the business and uses communication as a basic approach to bring the benefits of the product to the attention of the consumer. Several strategies are done so that interest on the product is created, desire to purchase the product follows, and finally the action of purchase of the product and choosing over other competitive offerings A marketing concept is the justification for the existence of the business. Stanton (1975, pp. 14-15) describes this as process set in three perspectives. First, planning, policies and operations that is customer-oriented. Second, a profitable business goal is established; and third, all marketing activities are organizationally integrated and coordinated. All these perspectives taken altogether recognize the marketing functions and the organizations of a business. 2. Analyze the concept with personal experience Since marketing concept is basically concerned with the satisfaction of customers, the best marketing strategy, I may say is in the form of benefits to customers. Talking of benefits, we may refer to benefits as something that is giving someone emotional or financial benefits from the product. Gumpert (1995, pp. 92-95) refers to emotional benefits that could be used for marketing strategies such as those that capitalize on emotions of fear, love, hope, guilt, and convenience, while for financial issues, it could refer to increased profits or value pricing. These features make the product stand out from the others, or make it as a unique proposition. An example of a unique selling proposition is Air Asia. This airline was able to create a niche for itself in the budget fares airline industry by offering travel fares at a lower price than many competitors. It has become the leading low cost carrier in Asia (Rediff.com) The Company appealed to benefit of savings or economy a customer derives in flying via Air Asia. The promise of emotional and financial benefits most often drives customers to buy a product. For instance, McDonalds uses both strategies in their campaign. McDonalds aroused interest of customers through their information of consistent food and taste quality, consistent pricing and fast service. McDonalds used the appeal for convenience and savings in moving its product to the customers (Firisco, 2009). The possibility of winning customers through modern technology could also be used as a strategy to reach customers. E-commerce, website and internet services have mobilized the way companies reach customers. In our Air Asia example, the airline used mobile phones and web-sites to promote ticketless bookings and attract customers to avail of their low cost fare services. Air Asia used the emotional benefits appeal for convenience, as the company stressed on the time and efforts saved by travelers by just booking through internet and mobile phones. The company was way ahead of its competitors and has again applied the unique selling proposition. The core element of the company’s campaign was set on the convenience of travelers of unnecessary hours in going to booking companies for flight bookings. Marketing concepts calls for a reorientation of saying what a company is engaged in, so instead of saying ‘We sell insurance”, a company can attract customer in saying “it is life protection”. Universal Studios markets entertainment rather than making movies, Volvo sells safety and prestige, Mercedez Benz is for quality, engineering and performance. Starbucks is not just coffee, it is more of a life style and an image. Works Cited Cyprus, Sheen. What is a Marketing Concept? Wise Geek.com. 28 February 2011. 07 March 2011 < http://www.wisegeek.com/what-is-a-marketing-concept.htm> Firisco, Michael D. Branding examples: the power of branding, How to branding.com, n.d. 07 March 2011 Read More
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