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Marketing is concerned with getting the right product to the right people at the right price. Its function is essential for the success of any business.

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Introduction

Marketing is concerned with getting the right product to the right people at the right price. Its function is essential for the success of any business. Most of the time products that are flops are due to poor marketing. A firm has to get the 4P's right to make it easy to sell its product. Businesses find out the views and opinions of consumers either by primary research which means going out on the field your self directly to communicate to the consumers. E.g. in the street, over the phone, interviews and questionnaires. The advantage to primary research is that it provides data that's up to date, relevant and specific to your products. However it's expensive to collect, it's time consuming and need's a large sample size to be accurate. Or by secondary research which involves you using an existing published material like statistics and reference books, to gather information. Secondary research is useful for looking at the whole market and analysing past trends to predict the future. E.g. Market research reports Mintel government publications like family expenditure survey, newspaper and Magazine articles. Advantage-it's easily found and instantly available. However it is not always relevant to your needs, it's not specifically about your products and it's often out of data. Or loyalty cards which record everything a consumer buys and also gives out rewards to the consumers depending on how much they spend. ...read more.

Middle

It also depends on the size of your market because if you're launching a new drink nationwide do not just advertise in London's newspapers. The size of your advertising budget depends on where and how you will advertise. Tesco advertises on T.V, it features two trolleys in the voice of Bell boy and Tesco's previous advert feature an old woman. Tesco has a catchy slogan- 'Every little helps'. These are the advertising campaigns. Tesco has special offers on their products like 'Buy one get one free' or '1/3 OFF'. Tesco's club cards enable you to earn points from your shopping including Petrol, Tesco will then send you Club card vouchers every three months depending on how much you have earned which you can then spend on money off your shopping or any deal from the Tesco free time magazine. If you don't want Club card points you can change it to Air miles which enable you to get much off flights and holidays. When you buy a Tesco car insurance you get two thousand free clubcard points. When you buy a home insurance online you save 5%. Special offers are a good way to get people to notice the product. Even Sainsbury's coupons are accepted. You can earn clubcard points from every two pound you spend on Tesco Credit card. ...read more.

Conclusion

It is involved with recruitment and training of staff with the Human Resources department. Good sales people are needed! Marketing department as links with Finance for the sales budget as it is the starting point. They need the finance to tell them about the credit-worthiness of new costumers. The marketing department needs a lot of money so it needs to discuss and asks many things to the finance department. Marketing would need finance to produce standard paperwork like general statements. Customer services would want the marketing department to tell them what the costumers want to be satisfied. Administrative help is required by marketing and sales staff like answering customer quires and sending out literature. There are quite a few target markets: age, all the different age groups of people requires a different price as their wealth is different. Gender, each gender want something different. Geographical area, each area is different and customers in different areas have different choices. Lifestyle, different lifestyles of people means different consumers. Wealth & Income, rich people have different needs then those who are poor; they can afford certain products that the poor cannot. The marketing and sales department run the advertising and promotion campaigns. They need to do a good job of promoting the product. If they don't make the customers aware of the product then how will they sell it? The whole business depends on the marketing department which is why it needs the support of other departments. Dolly Shah 10m - 1 - ...read more.

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