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what is marketing and John Lewis Marketing

Extracts from this document...

Introduction

Marketing Marketing is all about indentifying and meeting customer needs. Many business consider this so important that they are said to be marketing led. In this case, everyone in the organisation is trained to put the customers first- from the production worker, who has to produce high quality goods, to accounts clerk, who must respond to customer enquiry promptly and accurately. The importance of marketing Many companies today claim that their main aim is to satisfy consumer needs. Instead of having to sue hard-selling techniques to persuade customers to buy these market- led companies sell goods easily because they produce what consumers want. There are four main kinds of market: Industrial markets: the market for manufactured products aimed at businesses, i.e. capital goods e.g. engineering, construction. Consumer markets: the market for goods and services that are sold to households e.g. clothing, shampoo, holidays. Commodity markets - market for primary products or raw materials e.g. steel, coal, coffee. Financial markets: the market for services that dealing with money e.g. banking, insurance, accounting. The marketing process A firm will gather information about the marketplace, and then research consumers' needs. From this, it will identify who its market is, and then put together a marketing plan based on the findings. The marketing mix will be central to this, and finding the right balance in each of the 4Ps is very important. The firm can then review and adapt their plan when they need to. * Although marketing is consumer-orientated, the main aim is still to be profitable. * A good marketing manager will try to differentiate their product (i.e. make their product stand out against similar competitive brands). ...read more.

Middle

Waitrose's 'Price Commitment' Waitrose's 'Price Commitment' is their promise to bring customers quality food that is honestly priced and represents excellent value. Each week they check the price of more than 350 of the everyday items like bread, toothpaste and milk against those in other supermarkets, to make sure their customers are getting consistently good value for money. They are committed to keeping prices for customers as low as possible, but not at any cost. They pay their suppliers fair prices, and believe in paying for quality: what food tastes like; where it comes from; whether it contains additives; and, if it's an animal product, how the animals have been treated. Promotion- The main aims of promotion are to persuade, inform and make people more aware of a brand, as well as improving sales figures. Advertising is the most widely used form of promotion, and can be through the media of TV, radio, journals, cinema or outdoors (billboards, posters). The specific sections of society (market segments) being targeted will affect the types of media chosen, as will the cost For example: If you were a toy manufacturer, you might want an advertising spot during children's TV. If you ran a local restaurant, you might choose a local paper or radio. * Advertising -a public promotion of some product or service. * Sponsorship -A "long term" advertising relationship that typically involves the payment of a fixed fee to display a banner or other graphic on a website, or be included in an email newsletter. * Direct marketing-Sales and promotion technique in which the promotional materials are delivered individually to potential customers via direct mail, telemarketing, door-to-door selling or other direct means. ...read more.

Conclusion

Initially the product may flourish and grow, but eventually the market will mature and product will move towards decline. At each stage in the product life-cycle, there is a close relationship between sales and profits, so that as originations or brands got into decline their profitability decreases. Reaching the market What is meant by distribution? Delivery or distribution as it is commonly called makes products available to customers where and when they want them. Place is a very important part of the marketing mix. It does this through four main distribution channels: Marketing mix The marketing mix deals with the way in which a business uses price, product, distribution and promotion to market and sell its product. The marketing mix is often referred to as the "Four P's" - since the most important elements of marketing are concerned with: Product - the product (or service) that the customer obtains. Price - how much the customer pays for the product. Place - how the product is distributed to the customer. Promotion - how the customer is found and persuaded to buy the product. It is known as a "mix" because each ingredient affects the other and the mix must overall be suitable to the target customer. For instance: High quality materials used in a product can mean that a higher price is obtainable. An advertising campaign carried in one area of the country requires distribution of the product to be in place in advance of the campaign to ensure there are no disappointed customers. Promotion is needed to emphasise the new features of a product. The marketing mix is the way in which the marketing strategy is put into action - in other words, the actions arising from the marketing plan. http://www.tutor2u.net/business/gcse/marketing_ecommerce.htm http://www.digitalpaint.co.uk/images/pg-E-Commerce.jpg http://www.tutor2u.net/business/gcse/marketing_distribution.htm http://www.tutor2u.net/business/gcse/marketing_kinds_of_market.htm http://www.johnlewis.com/Home+and+Garden/Area.aspx http://www.johnlewis.com/Electrical+Appliances/Area.aspx http://www.johnlewis.com/Technology/Area.aspx ?? ?? ?? ?? Marketing (Mayank Sharma) ...read more.

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