• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Concepts and Principles

Extracts from this document...

Introduction

(P1) Describe the concept and principles of marketing. Marketing is "the management process responsible for identifying, anticipating and satisfying customer requirements profitability." 2003 BTEC Business (Heinemann) - Page 289 - The Chartered Institute of Marketing. Marketing have certain concepts such as: * Production Concept * Selling Concept * Product Concept * Marketing Concept Production Concept is the idea that certain company should focus on products that are effectively produced. Also the creation of a supply of low-cost products or services would also itself create the demand for the products in the market. Selling Concept is "the philosophy or orientation of an organisation which emphasises aggressive selling to achieve its objectives. Firms characterised by this approach often rely upon pressure selling and manipulative sales techniques to win business." ...read more.

Middle

Keeping ahead of competition After conducting your marketing research and establishing your company needs, you need to ensure that the unique selling point (USP) of your product can stay ahead of competition and can increase awareness to your target market. Initially most companies sell the same similar product because they have established the customer needs and the demand for certain or similar products. Therefore a company needs to make sure that they have a USP and can find ways of keeping ahead of competition, by perhaps adding methods of promotion to their products and perhaps pricing the product at a price the target consumers can afford. Communicate with customers Communicating with customers will allow recognition and awareness of your product and USP. Companies initially will use certain methods to communicate with customers such as advertising on bill boards, TV, newspapers, the internet and more. ...read more.

Conclusion

Using Technology Technology plays a very big aspect in the world today, this is because nowadays companies would use technology to benefit, save time and money and have more security. Companies may broadcast a website to allow customers to get more information at their own convenience and perhaps even buy products. The advantages the company can have can benefit from less expenditure of wages for example; as you would need less staff because you won't required to always use telephones all the time as everything is done online and also more revenue from making sales online 24/7. Technology will also allow greater security of the company and can protect information, security details, customer details and more for data protection purposes. Technology is normally IT related and this can improve speed and accurately and gives you the chance to communicate with customers without voice or face to face communication. Nevertheless you can use IT to design your products, create certain fonts and more. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Marketing & Research section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Marketing & Research essays

  1. Business Studies Company Profile

    * Inclusive/not, this is used a lot by car manufacturers they advertise a car with all the bells and whistles, then the car you actually buy is slightly different, unless you pay more to get what was advertised. E.g. advertising a car with automatic windscreen wipers, then saying automatic windscreen wipers, not included or included for �1000 extra.

  2. Marketing Research

    Shopper's stop: The research problem could be " How to increase footfalls to Andheri Shopper's Stop. The research in this case will be highly flexible, unstructured and qualitative and the researcher begins without any preconceived notions about the conclusions. 2)

  1. I am going to be writing about the concepts of marketing distinctiveness of the ...

    It might look easy to look at customer's point of view and create something that meets needs and wants but many organisations find it very complicated to do such a thing, in fact many of these organisations are now concentrating on their convenience then on the customers.

  2. For this assignment I have been asked to produce a new marketing strategy for ...

    financial |up to date and cheap. |the product. |good because they are up | | |matters and | | |to date however I couldn't| | |advertising. | | |find specific information | | | | | |about Coca Cola. | |Coca Cola student |I believe that this |All the information

  1. Applied Business Studies

    and realistic; the person running the business is the only one that can decide whether how high the goal should be. If a business truly thinks that the goal they are setting is achievable, then it can be deemed as realistic.

  2. Marketing Research

    if more consumers had heard of their brand name through seeing billboards then this would have being the most appropriate media to use to help increase their sales. The draw back of using this method is that Coca Colas competitors, such as Pepsi might have already done a survey by using similar questions.

  1. The purpose of this assignment is to provide a marketing strategy for a new ...

    * The Coca-Cola Company is the most recognised trademark in the world. * The contract The Coca-Cola Company has with its bottlers is under constant negotiations. Opportunities & Threats * Have significant growth opportunities. * Has sufficient capital to expand.

  2. The principles of marketing

    No product can be sold if the target market does not know of its existence. It is also clear that no amount of promotion will help to sell a product that is not acceptable to the consumer. The promotion of a product is perhaps the element of the marketing mix

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work