• 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. The concept and principles of marketing

    With pre-recruited online panels, surveys can be distributed and returned in hours, compared to days for telephone and weeks for mail surveys. * Interactive surveys are now possible. Java applets, JavaScript, VBScript and ActiveX technologies are making truly interactive surveys possible.

  2. Business Studies Company Profile

    BMW GROUP MARKETING ACTIVITIES Any business that develops its production and marketing activities with the needs and ultimate satisfaction of the consumer firmly in mind, will be a successful business. BMW have been very successful in finding out what their market is, and ensuring marketing activities are targeted accordingly.

  1. Marketing Research

    and design "B", "C" leads to decrease in sales, then we can conclude that the sales have increased due to design "A" Latin Square designs are extensively used to establish cause -effect relationships in marketing situations. ADVANTAGES AND DISADVANTAGES OF EXPLORATORY RESEARCH : OBSERVATION AND FOCUS GROUP : THE ADVANTAGES OF FOCUS GROUP 1)

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

    So its better especially for huge companies to advertise it on a popular football team which is likely to win as customers might think that the business is supporting their favourite team and therefore they want to consider it before the competitors.

  1. Global Marketing Strategies

    Other factors in this decision of foreign market selection include in addition to macro-environmental issues (economic, socio-cultural and political-legal factors), micro-environmental issues such as market attractiveness and company capability profile (skills, resources, product adaptation and competitive advantage). Developed economies account for a disproportionately large share of world gross national product (GNP)

  2. Business studies, product development

    They all make sure they have extra sections as well to keep deodorant and small items. 2) What sort of design do they choose, make, colour ect? Customers tend to choose a darker colour maybe navy blue or black. The make varies depending on the customer.

  1. Applied Business Studies

    This would push the businesses in the right direction, and make them keep going. Linking back to 'Realistic'; businesses need to make sure that the timeline they set are realistic. Objectives An objective is something that is set by a business to help them reach that aim.

  2. Unit 1 Marketing Proposal: A01

    3D televisions to replaced HD and this may attract more customers and increase their profit. A new product could also be one that opens up a new market for example HP (Hewlett-Packard) which are a computer manufacturer could expand their business and create a mobile or games console and this

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