The Marketing Mix and 4 Ps What is marketing? This approach, thus, aims at consumer satisfaction by means of production of the right kind and quality of products, in the right qualities, at the right price and in the right market, the matching of products and services with the markets and consumers becomes the motto of the consumer-oriented approach to marketing. Danger of Free Online Services. To put it simply, marketing a thorough study that analyzes a variety of market segments in regard to their potential financial profit. All you will be asked to do is to place an order and explain your requirements. A chart describing the classification of marketing functions is given below: 1. As consumers are constantly exposed to all aspects of marketing consumers might be mislead or manipulated into buying a product that does not meet the requirements it is advertised for. Overview of Apple and Its Corporate Strategy. “Marketing is a total system of interacting business activities designed to plan, price, promote and distribute want satisfying products and services to the present and potential customers”– W.J. (4) Marketing system based on the marketing concept assures integrated view of business operations and indicates interdependence of different departments of a business organisation. Second is theÂ product concept, which focusesÂ on product quality, selling concept, such as ideas to tempt the customers into buying by offering some discounts or promotion. Then management wants to sell them at a profit. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Then he provides a marketing mix in order to capitalize marketing opportunity. Customer-orientation, profitable sales volume and integrated marketing activities are the three pillars of the marketing concept. There are many ways to run a marketing function. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. Marketing process includes marketing functions. Marketing today, thus, involves conscious and organised efforts by a business firm to find out what the community needs and how best it can help the community derive the fullest satisfaction from the activities of the business. Marketing Plan sample essay. (Jobber, 2001; Kotler and amstrong, 2009)Besides that, creating an additional value to attract new customer is also very important in building a commercial customer relationships, as DruckerÂ (2001) state that, the basic functions of the marketing is to hold and fascinate the consumer at profit. We're here to answer any questions you have about our services. In this essay we will discuss about ‘Marketing’. In case you are assigned to write a marketing paper and have no idea what to start with, you are welcome to get assistance from our expert writers. (e) The management underscores the importance of decision-making aspects which are bound to arise in the execution of different marketing functions. (5) Interests of the enterprise and society can be harmonized as profit through service is emphasized. 4. Selling aims at short-term objectives. b. the quantities that the consumers require. (Middleton, V. T.C. Marketing strategy includes all activities aimed at the increase in sales and a sustainable competitive advantage based on the selected marketing mix that consists of 4 Ps or product, price, place, and promotion (McCarthy). Demand is the central controlling factor, and marketing management essentially becomes demand management. These are not being achieved on account of all normal inflationary factors and paucity of skilled labour force. A marketing strategy is a business file that is purposely written for explaining the current market stance of a company in addition to its marketing strategy for the duration recorded by the marketing strategy. In the present highly competitive and changing world, the marketing factor has become very crucial to all business planning and decision-making. Marketing agencies or channels of distribution, 3. MARKETING IS the most exciting of all business sports. According to the social scientists, marketing possesses the potentialities of furthering population control dictum, secular ideas, anti-pollution drive and brotherhood among citizens of all castes, creed, and languages. This approach refers to the concept of marketing that is related to the needs of the buyers. It is especially useful if you have problems memorizing all the little details involving the format you’ve been assigned to use – a marketing essay or research paper is a much better presentation of rules and regulations than a theoretical description. ), the products, and the society. It takes into account the detailed system and sub-systems of the marketing effort and allied problems and constraints concerning a particular product. To quote E.F.L. An exchange takes place when market offering is acceptable to the customer who is prepared to give something for value (money) in return against the product so bought. (ii) organising the business to meet these needs. After decided a target market, it is necessary to have a proposition value in the market, which is very important as it helps to differentiate yourself fromÂ other company, likeÂ Samsung anycall. The hierarchy of Apple’s organisational structure contributes to strong management control within the company. As these functions are performed in the marketing channels, these channels of distribution become the third component of marketing process. Customer enjoys the unique importance. Marketing, therefore, is nothing but performance of business activities that direct the flow of goods and services from producer to the consumer. Marketing process brings together producers and consumers the two main participants in exchange. In other words, the management has to harmonise all these variable factors, in the context of the nature and size of business, to gain continued acceptance of its products and services from the different classes of consumers and customers. Marketing is part of our everyday world, … Taking a course in marketing or studying at a business department in college can be exciting, but only until the countless written assignments start to pile up, taking all your free time.