Marketing definition and its role Marketing is the process of interesting potential customers and clients in product or a service that the business is offering.
Introduce to Marketing
Task 1 - Marketing definition and its role
Unit 3: Introduction to Marketing
Task 1 - Marketing definition and its role
Marketing is the process of interesting potential customers and clients in product or a service that the business is offering. It is also essential to the growth of any organisation. Marketing is mistaken as just simply advertising. This is not the case as there are four main aspects of marketing (the four P’s). These are promotion, price, product and place.
“Marketing is the management process responsible for identifying anticipating and satisfying customer requirements profitably”. – The Chartered Institute of Marketing.
This definition looks at the satisfaction of customer wants by identifying them not only in the present but also analysing them in the future.
The Marketing Concept is based on the idea that business can meet their objectives by concentrating on customer needs and also satisfying these needs better than competitors. This concept is in active when customers have more income so then they are more selective, so their needs was not easy to identify and in marketing concept goal is to identify the needs before producing the product. For example, Tesco is an organisation which uses that marketing concept, nearly every product they have, the customer need them. They are three business concepts that could be used. This is the productivity concept, the selling concept and the product concept. The productivity concept is described as, the organisation which only concentrates on production and distribution, like just concentrating on producing the product and producing it enough, to sell at a low price, the way they are confident in selling the product at a low price because they concentrate on producing it in high quantities. The selling concept is described as, the organisation is more into to selling the product to the customers, they will do what they can to sell it, they concentrate more into if they can sell it and can they charge enough for it. The companies do not just think of producing and if the customers need it they just tend to convince the customer to buy it by advertising and personal selling, the way they convince the customers they act to them by aggressive selling. Like I said they don’t pay attention if the customer needs it or customer satisfaction their actual goal was to beat the competition. The product concept is described as, the organisation mainly concentrates on the product, these can be improving the product or adding more features, they also concentrate on the quality of the product, they don’t really look at the customer needs or on the competition, just looking at the product making it much more better every time so believing that the customers will buy it because of their high quality products.
