This website uses cookies to ensure you have the best experience. Learn more

Marketing Essay

1986 words - 8 pages

Marketing

Marketing is about understanding the customer needs and making sure
that the products fit the customer’s needs as well as finding ways to
influence the customer’s behaviour.

Aims and objectives

An aim is a statement of purpose that outlines what the business wants
to achieve, it is a general goal e.g. to gain profit.

An objective is a statement of how the business will achieve their
aims it contains specific numbers and dates, they are SMART. For
example achieve 4% profit by the end of 2006

Businesses need to have aims and objectives in order to have a
direction to follow and gain the best they can out of their business.
Objectives of a business need to be SMART, this means:

* Specific…They need to relate to the issues and the market in which
the organisation is involved is involved.

* Measurable… They need to see if they have been successful in
achieving the objectives

* Achievable…They must be realistic for the business to be able to
achieve, where they’re not too difficult so there’s a lot of
pressure on the business and not too easy.

* Realistic… The objectives must relate to the business and its
activities and must not be too far-fetched.

* Timely… they must plan how and when they need to be achieved.

The marketing aims and objectives are a part of the marketing plan.
The marketing objectives and are also SMART and like all the other
departments within the business they need to build towards the aims
and objectives of the business as a whole. Marketing objectives must
involve understanding the needs of the customers; they also need to
stay ahead of their competition. The market research the department
carries out helps to determine what their objectives are going to be.

Internal and external constraints

Internal – within a business there are limitations that hamper the
marketing activities and must be considered by the marketing
department. The costs of marketing is an internal constraint, it
relates to the fact that when a company grows it needs to have more
finance to be able to fill the customers needs. When the business
wants to develop new products and services it needs more financial
resources, if they don’t have enough resources it limits how well they
can expand. Businesses may also need to bring in skills form outside
of the organisation to help with their marketing strategies; this also
costs in the financial resources.

External – outside of the business there are also many constraints.
These include

- Consumers (they will not be interested in the business if it is not
consumer-focused)

- Competitors (if a competitor in the same market already has an
advantage then it is very difficult for a new business to market a
product.)

- Economy (If there is a period of economic recession when customers
have falling incomes marketing a luxury product will be difficult)

- Law (There are many laws that restrict the way a product...

Find Another Essay On Marketing

marketing Essay

592 words - 2 pages No organization will be able to survive, if it fails to market what it wants to. In India a saying goes like this -' Bolne wale ki basi bhi bik jati hai, na bolne wale ki taja bhi nahi bikati' (those who make marketing efforts are able to find customers even for rotten ones and those who remain silent in their marketing effort are not able to find customers for the fresh ones).This shows how important marketing is. Gone are the days of sellers

Marketing Essay

2460 words - 10 pages Executive Summary:The purpose of this report is discuss: What is marketing? Why "marketing is important and the role it plays in the profitability of the company.I use a toothbrush company: Oral-B as the example, talk about the influence of marketing to a company by Marketing philosophies, Marketing environment, Market analysis (STP) and Marketing mix (4"P"s).By this process, I find out: Marketing is a very important tool for company to win the

Marketing

2478 words - 10 pages 1. Introduction:1.1 Purpose.The purpose of this report is to get all of the management employees of Proton in all of the departments outside marketing to familiarize with what marketing is and also to show its importance in the company.1.2 Background.Proton is the biggest Malaysian automobile manufacturer. Proton automobiles are available in many countries such as China, Singapore, Australia, Algeria and United Kingdom. Proton has commanded the

Marketing

1094 words - 4 pages Marketing PAGE \* MERGEFORMAT 1 IntroductionMarketing is simply stated as the process a business takes to introduce product(s) and or service(s) in to the marketplace to potential consumers. In this paper I will describe Marketing and the philosophy behind it while explaining the important role Marketing plays in the success of an organization. I will also give some examples of how marketing can be used by a business by introducing what is

Marketing - 835 words

835 words - 3 pages Marketing is more than advertising and selling a product. The American Marketing Association (AMA) defines marketing as "an organizational function and set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders." Marketing is an analysis of a product at various stages of implementation into the public. It also dictates certain

Marketing - 3483 words

3483 words - 14 pages Marjeting Concepts1. What is marketing? What is the marketing concept and discuss its evolution. How does the marketing concept differ from the production and sales concepts? What are the conditions that must exist before an exchange can take place? Describe the variables of the marketing mix and how they interact.(i) Marketing: Marketing is the systematic process of identifying and anticipating the needs of actual or prospective customers for

marketing

1030 words - 4 pages Online Marketing Definition Online marketing has many different definitions. However, the most straight forward is “Any positive communication between distributor and purchaser through the digital area (Internet, forums, chat, e-mail, the web, etc.) Which provides for the exchange of requested or necessary information directed to a potential customer’s purchase and a continuing and profitable customer/seller relationship.” (Forester, 1999, p.3

Marketing - 789 words

789 words - 3 pages Marketing can be interrupted in several different ways depending on the services or product that is trying to be sold. There are many ways to advertise a product; one can promote a product visually on a newspaper, magazines, television commercial, or on the internet; it can also be advertised orally by word of mouth. I would define marketing as the way to advertise and promote a product that one is trying to sell. The purpose of this paper is to

Marketing

1715 words - 7 pages This essay is a critical literature review of Relationship Marketing in relation to customer satisfaction, customer loyalty and technology. In this review, I will provide a brief orientation of relationship marketing; identify the benefits of relationship marketing for companies and customers and critically analyse the concept of RM with regards to customer satisfaction, customer loyalty and analyse the role of technology in relationship

marketing

1676 words - 7 pages Marketing Proposal For U17/9, Jalan Bukit Melawati Project84 units of Double-Storey Semi-Detached HousesThis marketing proposal is undertaken in response to the double storey semi-detached project development in U17/9, Jalan Bukit Melawati, 40160 Shah Alam, Selangor.Our company has stressed the important of exclusive appointment to enable it to pay full concentration on the project and to avoid any conflict of interest or double sales.Project

marketing

1159 words - 5 pages Executive SummaryMarketing is possibly the most important function of a business as it has a direct impact on productivity and sales. Effective marketing strategies are a stepping stone to develop brand awareness and customer loyalty which ultimately lead to increased sales and achieving strategic goals such as profit maximization. Marketing strategies used by successful businesses include:Market segmentation, product/service differentiation and

Similar Essays

Marketing Essay 2269 Words

2269 words - 9 pages Marketing is marketingIntroduction: "Marketing is marketing, irrespective of the product or marketplace". This is a theme common to many introductory marketing texts and degree courses. The two most common exceptions cited to this proposition are buying behavior models between consumers and business buyers and the extended ingredients of the services marketing mix. While the overall sentiments of marketing hold true across product and market

Marketing Essay

1681 words - 7 pages Toyota Marketing MixMarketing 400December 4, 2009Toyota Marketing MixThe given study is grounded on the concept of marketing mix which is an inherent part of the marketing actions of a company. The marketing mix is an accumulation of the four elements of the market which are product, price, place and promotion. Each of the four elements have equal implication for the effectiveness of a company's marketing strategy. The companies operating in all

Marketing Essay 891 Words

891 words - 4 pages Define MarketingDefining marketing is not an easy task. My first thoughts of marketing were to define it as selling something to someone else or advertising a product to a consumer. It is true that advertising is a part of marketing and effective marketing leads to successful transfers of goods or services. This paper will present several different definitions of marketing. Based on these definitions the importance of marketing in organizational

Marketing Essay 1025 Words

1025 words - 4 pages Definition of MarketingI have always related marketing to advertising until reading more about this subject. This paper attempts to define marketing based on reading material and personal definition. To further define marketing, two different resources will be offered as well. The importance of marketing will be covered including three examples to support my explanation.MarketingMarketing is a process involving the execution of a conception and