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The principles of marketing.

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Introduction

The principles of marketing There are 5 main principles to marketing these are 1. Marketing is the whole approach to doing business. 2. Marketing places customer needs at the heart of the business. 3. Marketing depends on effective and continuous market research. 4. Marketing involves leading, not just following, the market, and finally 5. Marketing seeks to add value through a unique selling point. 1.) Marketing is not just about promoting and selling a product; it's rather focus on the whole of the business and, therefore, the responsibility of everyone in it. From customers point of view all that matters is whether the business's product or service meets the requirements of their needs. Marketing is also more than just a one off action, such as advertising campaign. It is an ongoing process of researching, planning, implementing, and reviewing strategies to meet the customers needs, and wants. Disney came to realize that their business was more than just making and promoting films. It was about a whole concept of childhood imagination into leisure and retail industries. ...read more.

Middle

The advantages to market orientated are: * A new product will be more likely to succeed due to it has met the needs of what the consumer wants. * A business can gain a competitive advantage over rival companies by targeting and meeting the needs of a specific group of consumers. * A business can anticipate the needs of the customers when there are changes in the market, which allows the company to react first. There are two other parts that contribute to the business these are called asset led marketing and product orientated. Once you have and understanding of the consumers wants, a business also has to consider what competitors offer, and what its own strengths and weaknesses are. When having an over lap of both of this thing s this is called asset led marketing, this ensure a business with its best used of reputation and expertise. The alternative approach to marketing is to be product orientated. This focuses on creating the product before thinking about the consumers needs. ...read more.

Conclusion

The company has a policy of avoiding using children younger than the age of 12 in any of its advertising as a result of a lawsuit from the beginning of the 20th century that alleged that Coke's caffeine content was dangerous to children. However, in recent times, this has not stopped the company from targeting young consumers. In addition, young children (or pregnant mothers) An Ethical constraint towards Coca Cola Are: * Utilitarianism. Recycling causes the greatest benefit for the greatest number. * Deontology. It is wrong to waste resources and create land resource problems for future generations. 3.) Marketing depends on effective and continuous market research To satisfy the needs of its customers, a market-orientated business will depend on market research to create or identify their needs. Market research also allows business to anticipate future needs by spotting market trends. The trends that occur with to identify marketing personnel to fulfil through research and analysis: * To develop a detailed understanding of current customers. * To develop a deep understanding of today's competitors. * To understand how the market may change and develop in the future * To use all this knowledge to shape a marketing strategy that meets the organisations objectives ...read more.

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