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The principles of marketing

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BTEC National Diploma in Business Introduction to marketing Introduction: In this assignment I want to describe the concept and principles of marketing and the application in the business environment. Task 1 Marketing is defined as an with communication based process through which individuals are informed that existing and new needs and wants may be satisfied by the products and services of others. Which means marketing is used to try to get new customers and keep new and existing customers and also to satisfy them this process of identifying, anticipating and then meeting customer requirement profitably is called marketing. The principles of marketing: Marketing has four common principles to undertake, these principles are: * Understanding customer needs * Keep ahead of competition * Communicate with customers * Using technology Understanding customer needs The purpose of marketing understands the customer needs and what the market wants. They can establish this through analyzing the marketing mix which has 4 elements that consists of price, promotion, place and the product itself. Conducting in-depth research will allow you to identify what your customer needs are and whether a product or service you're looking to release, will increase profit as well as market share and will also be ahead of competition. ...read more.


It is also important if the customers can communicate with the company itself, by providing methods of contact information of the company on their adverts for example, so customers can require information or even make purchases. Utilising new Technology Technology plays a very big aspect in businesses nowadays, 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 every day and every time. 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 and they can also use IT to design your products, create certain fonts and more. ...read more.


For example, Oxfam uses website to obtain donation to help people who were affected by tsunami. Why Marketing Plan needs to be Used, Controlled and Monitored Marketing plan needs to be controlled for various reasons. Some of these reasons are: * In order to make sure customers are satisfied with the quality of goods and services provided. Organisations use market research like survey forms, questionnaires, blogs etc. to know where they are lacking behind and use that to improve the quality of their goods and services offered to customers. * Organisations controls and monitors their marketing plan in order to access the quality of their marketing. They need to know if they are reaching their intended targets, if they need to market in other locations, if they need to withdraw from an area because of economic or religious reasons etc. * It's very important to control and monitor your marketing plan in order to make sure it doesn't result in a bad publicity. For example showing drunk people been happy in an organisation's advert might result in parents complaining that young pupils are been given wrong ideas, using certain animals in adverts could result in racial issues etc. ?? ?? ?? ?? Omobolanle Salami 06/10/2009 Assignment No.1 Unit 3 1 ...read more.

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