• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19

The principles of marketing and how it operates.

Extracts from this document...


Introduction: In this Brief report you would be finding an outline of the principles of marketing and how it operates. This brief report is being handed in, in conjunction with the job interview for the post of a Category Manger at "Carter's" a local supermarket. Contents: 1. Definition of Marketing and its Key components. 2. The Core Marketing Concepts 3. The Marketing Management Philosophies 4. The marketing Process : Target Consumers 4 P's Marketing Management functions The Global Marketing Environment 5. Major challenges being faced nowadays 6. Bibliography What is Marketing? Marketing is the management process by which a firm or organization identifies, anticipates, and satisfies consumer requirements profitably In other words when we speak about marketing we relate our ideas to studying the actual market, its sellers and buyers, analyzing costs related to a product, analyzing the import and export situation, analyzing competition and finally locating the outlet and targeting the customer before distributing the goods. Marketing has not always had such an important role. However its importance has been recognised and its techniques made useful. The 19th century (better known for the Industrial Revolution) brought about production oriented firms, these where due to practically no competition or choice between various products. At this point in time marketing did not exist. The first half of the 20th century saw the production era braking down and sales techniques were beginning to be emphasized. Still no marketing was being used by organizations and firms. However the 20th century was known for the amount of progress in industry, competition was rising fast and the use of marketing was becoming obvious. Soon marketing had become the most emphasized managerial system with all other management sections being strongly influenced by specific marketing techniques related to that particular area. Its role was and is to give the customer or consumer utmost importance. Identifying consumer needs before actually producing and eventually selling. ...read more.


The Societal Marketing Concept The Societal marketing concept holds that the organisation should determine the needs, wants and interests of target markets; it should then deliver superior value to customers in a way that maintains the consumers and the society's well being. The societal marketing concept questions whether the pure marketing concept is adequate in age of environmental problems, resource shortages, rapid population growth, world wide economic problems and neglected social services. It asks if the firm senses, serves and satisfies individual wants is always doing what's best for consumer and society in the long run. The societal connect is more expensive to implement then the marketing concept but in the long run it turns out to be cheaper then having to face with any fines due to being accused of not caring for the environment. E.g. 'Coca Cola' sponsor local boys and girls clubs. 'The body Shop' donates a certain amount or profits to animal-rights groups. The Marketing Process Target Buyers A target buyer is the centre of the Marketing Process which has been found out to make allot of research though out the years. To be successful in today's marketplace, companies must be customered centered, winning customers from competitors and keeping them by delivering greater value. Before being able to a company must first understand the needs and wants. There are too many different kinds of consumers with too many different kinds of needs, and some companies are in a better position to serve certain segments of the market. So each company must divide the total market and choose its best segments, and design strategies for profitably serving chosen segments better than its competitors. This process involves: Market Segmentation, Market Targeting and Market Positioning. Market Segmentation A market consists of many types of customers, products and needs. So the marketer has to determine which segments offer the best opportunity for achieving company objectives. ...read more.


Activities in the micro-environment include motivating staff, including incentive schemes and competition, recruitment and retention of appropriate personnel, implementing favourable conditions of service and treatment of employees, instituting staff training programs, explaining and discuss co-operation policies and practices, fastering teamwork, improving communication between employees, researching understanding and satisfying staff requirements in the sort and long term. The Macro-Environment The Macro-environment includes all the external factors which cannot be controlled by the firm or organisation but by nature alone. It is essential that an organisation is very well informed of this environment and its control of it. A study of this environment is done to determine the opportunities and threats. It is very important for the market oriented organisation to achieve a good understanding of this environment in order to be in a better position to adapt itself and changes which might occur in this environment. Macro-environment is divided into these factors mainly the PEST factors which are: Political and legal framework Economic framework Social / cultural framework Technological development "P" political and legal framework includes - the central/local government pressure groups, financing and government grants, legislation, consumer protection, staturity legislation and all other forces influencing the legal and political stability of a country which will in turn affect the organisation. "E" the economic framework including all the stages in the business life cycle, rate of inflation, rate of unemployment, interest rates, and resources country has available and level of incomes in the economy. "S" socio cultural framework including demographic and geographic trends status background, norms and value, lifestyles, habits, socio economic group, pier groups, religion and language. "T" technological environment including innovation and its desirable affects, more leisure time and better living standards and higher rat of production innovation also has undesirable effects - unemployment, health hazards, and pollution Major Challenges Nowadays Nowadays companies are struggling with changing customer values and orientations, a shabby world economy, the growth of a non-profit marketing; The information technology boom (Internet) Rapid globalisation (global competition) Greater ethical & social responsibility A host of other economic, political and social challenges. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. This coursework entitled "Marketing" is about creating a marketing strategy for a new or ...

    Questions five and six relate to the product itself. Question five shows people like a variety of colours, but the most popular are red, blue and silver; ten red, eight blue and five silver. A range of colours should be offered for the new A6 particularly those which are most popular.

  2. edexcel Marketing Assignment

    Collate information: Figure 7 Analysis: With the support of this bar chart it was found that most people prefer going out for shopping at weekend. Having said that, weekdays are the less appropriate for shopping. The numbers of people that prefer shopping at weekends are 24 whereas 6 were the number people that shop on weekends.

  1. Critically evaluate the role of marketing within an organisation's corporate environment

    as well as analysing how it wants to be perceived by its consumers compared to the competitors. The new marketing trend that places the consumer in the centre of the companies' priorities also changes the branding policies, which is still the biggest asset of the company confronted to the changes of its environment.

  2. Analysis of the current strategic situation facing Marks & Spencer.

    Brand has been mismanaged ? Foodstuff is becoming dated ? Failed attempt at overseas expansion was very costly ? Lack of market research so misjudgement of customer needs Opportunities ? Diversification ? Returning to core business ? Possible new foreign expansion opportunities ? Good e-commerce market ?

  1. The purpose of this marketing plan is to outline the situational analysis, marketing objectives, ...

    Skimming pricing in December: this would be effective as Sydney Tower Restaurants are unique, and their competitive advantage is their view and revolving restaurant. It's also a main tourist attraction, and being December, it has the advantage of the Summer weather and festive season, which attracts a lot of tourists at this period.

  2. Business GCSE Unit 1, A1

    When these are submitted the company can then go ahead and start trading. Advantages for Cadburys: * Shareholders have limited liability and can therefore only loose money they have invested into the business. * Cheaper borrowing and bulk purchasing. * Cadburys company name is protected.

  1. This report will define and explain the following marketing terms: Marketing ...

    to go to the finance department to see what there budget is and from that they would give the task to the production team to design the product this also includes the human resources department because they need to see if they have the right employees and the training for them so they can design and create a new phone.

  2. Marketing Strategy - Nintendo Gamecube

    A business that fails to communicate effectively, or as well as rival firms, with its existing and potential customers will not be successful. Business organisations can provide information to customers in a number of different ways. These can be oral communications with business employees and sales staff, or in written form.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work