Marketing Principles Essay

1954 words - 8 pages

Marketing Principles

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of goods, services, and ideas to create exchanges that satisfy individual and organisation objectives. Marketing has many ways that products are sold. It includes advertising, selling and delivering products to people. Marketers try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general exposure in the media world. The process of developing, promoting, and distributing products to satisfy customers' needs and wants.

Marketing include 4 Ps for marketing mix that is product, place, price and promotion. Product is the good, which is the company want to manufacture. Place is the place where the company sell the product. Price is the value of goods in the society and promotion show products to customers, e.g. advertising, newspaper etc.

Marketing is a social and managerial process and individual obtained what they need and want though exchange.

When somebody wants to develop a business, they should know what is the customer need and what is the customer want. Then the company will base on demand to produce goods, which make profit for the business. And make the marketing focus on the satisfaction and goods quality of customer needs, wants and requirements. That is good for exchange between customers and companies to make the relationship well. For whole marketing, it uses products of company to make value for business in the public way.

( b ) Example:sonyToyota(finance)foodtown(customers service)

Customer value is an organization’s rating of the value it provides to its customers relative to that provided by its competitors. It is the critical part of relationship marketing, achieve the customer satisfaction is the prime goal of the marketers and organization’s long-term goal is achieving through satisfying customer needs, then make profit for companies. It needs to be seen from the customer’s viewpoint to in terms of the value s/he see in interacting with the organization. Interaction by the definition should be a two way process. However, the choice to interact with an organization rests solely with the customer. Organization must be customer centric. E.g. Food town card is a standard discount care for Food town’s customer.

( c ) 1. financial benefit(eg:foottown cardstar alliance
2. social benefit----share pation(eg.
3.structural ties

A customer-loyalty-and-retention program is marketing tools to develop stronger relationships with customers. There are three ways: financial benefit, social benefit and structural ties. Financial benefit is higher offer long-term customer with bonus. E.g. Singapore airline has a special service is star alliances, when consumers catch Singapore airplane to somewhere, consumers will get the points depends on the distance. If passengers get enough point, they will have bonus trip ticket. Social benefit is...

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