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The principles of marketing

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Introduction

The principles of marketing For a marketing strategy to be successful it needs to be based on all for the principles of marketing. We have been appointed to launch a new magazine targeted at young women ages 17-21, and have to develop a Marketing Strategy in order to promote it and ensure its success. A strategy is lacking of showing weakness on any of these then the entire mix could falter and it could have serious repercussions on the success of your product. I have decided to improve on the existing magazine 'vogue.' Although it is one of the most successful women's magazines in history, I hope to make it more relatable to the average reader. I intend to keep its high profile fashion identity, informing the reader of the latest cat walk triumphs but perhaps add a section done by many other magazines, which translates these into a high street version. I hope that this will give the magazine another appeal, as not only will it be a link to the fashion world, it could also be bought in order to derive affordable out-fit ideas. The second aspect that I have decided to incorporate in to my magazine is the popular 'real life' article. ...read more.

Middle

No............. The results will allow me to make educated modifications. 2. Understand and keep ahead of the competition. If a business is completely unaware of what their competition business procedures then it can easily be overtaken, in the ever-moving marketplace. In order to maintain an advantage over your competitors, you must primarily assess what you as businesses are doing, and weather or not you can improve on it. Analysing and understanding your rivals will help in adaptations to your business. You can look at what has been successful and unsuccessful for their business to order to help with your decisions and to stop you from making similar financial and marketing mistakes. My alterations to the magazine have steamed from features that are prevalent in other highly popular magazines. My intention is to create a 'ultimate women's magazine' of sorts, in which I incorporate an array of characteristics so it will not be need to buy another magazine, keeping ahead of my competition, and broadening my target market. 3. Communicate effectively with your customers. This principle ties heavily in with the first. It is impossible to meet the needs of your customer if you cannot communicate with them to know what they want. ...read more.

Conclusion

These are perceived constraints that can be internal and external. Internal constrains are those that can be identified within the business such as financial difficulties, or employee problems. External constrains are recognized out side the business, such as topical events in the news that could be linked to your product, or rises and falls in the economy and stock market. Both forms of constrains could have a substantial negative impact on the performance of your business and the success of your product. It is fundamental that we identify with these impending threats so that there effects can be minimized. For a magazine the threats could be failing to cover an important issue or get an exclusive, a demise in the overall sales of magazines or perhaps fail to meet a deadline due to staff issues. In conclusion it is crucial that a business is entirely aware of all the theoretical aspects of a marketing strategy and apply them to their own situation. I intent to make sure that I do to overlook any of these principles as failure in one could mean the failure of the entire strategy. I have contemplated all of these points when deriving my plan and hope that I have produced a coherent mix of strategies to meet my customer needs. ?? ?? ?? ?? Fiona Wood, The principles of marketing, business studies, Mr. Scally ...read more.

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