The Principles of Marketing

which we can achieve these objectives. The reason businesses seek to make a profit is that, without a profit, a business is unable to do all the things it wants to do. Without profit the business cannot keep its shareholders happy, it cannot pay higher wages to its employees, it cannot invest in better technology to improve its products and so on. In order to anticipate change, organisations need to have an antenna that is highly sensitive to changes taking place in the buying population. For example, what is happening to: 1) The age structure of the population? 2) Tastes and preferences? 3) Incomes? Market research is the antenna of an organisation and is far more complicated then simply asking 100 people if they like as product. This is the stage where market research starts. It is therefore, the ability to satisfy customers that marks the difference between a successful and unsuccessful organisation. There are only few firms who can provide for individual needs. Most marketing activities are therefore designed to meet the needs of groups of customers within a market. The first challenge for any organisation is to find a set of customers and to identify their needs to that appropriate goods and services can be developed. The first element in the marketing mix is the product, and then all the other elements in this marketing mix can be engaged to meet customer needs. These may include developing the pricing for the product or service provided, working out how to distribute (place) goods to the customers, as well as how to promote them. Coca-Cola need to understand customer needs to be able to sell their product. They must undertake market research to find out what their customers want so they can produce to their needs. In order to be successful, organisations will gear activities to being better than their competitors, and to keeping up with any improvements competitors make. Coca-Cola must be in front of their rivals so that their product is at the top. They must make improvements all the time to better their product so that competitors don't take over. Marketing in any organisation must constantly seek to enable the organisation to manage the effects of change and competition-by coming up with new products, advertising promotions, price alternations and special offers. Unfortunately, over the course of time, many organisations develop a product orientation rather than a market orientation. Marketing orientation is based on the belief that, if organisations do not satisfy the needs of customers, they will not survive. It is therefore essential to match the production and development of good and services with the identification and anticipation of customers' desires and requirements. It is important, then, for organisations not just to look at their competitors' products but also at how they deal with their customers. Customer needs and requirements are identified in every area of organisational activity, from the original idea and design right up until the final sale and after-sale and after-sales support. This is important for Coca-Cola to think about as they need to look at how their competitors are selling their product so that Coca-Cola can do it in the same way but better.