The principles of marketing
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. This gives an entirely new angle to vogue, as reports such as these are not usually a feature. My decision to uses 'vogue' for my magazine allows me to already have the assurance of its success. If any changes I made to the magazine proved to
The Principles of Marketing
The Principles of Marketing My objective for the marketing strategy is to achieve more profits by making some adjustments to the packaging of Coca-Cola. I want to see whether the demand for Coca-Cola will increase or decrease due to small changes. These changes are that I will replace the opening with a cap on a Coca-Cola can to stop people throwing away the drink due to a lack of storage space. By doing this I hope to gain a bigger market share for Coca-Cola. Before I start making any changes I need to primary and secondary research in which consumers will be asked whether they would buy the changed product. In order to make the idea a success I will have to develop a marketing strategy which evaluates ways 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: ) The age structure of the population? 2) Tastes and preferences? 3) Incomes? Market research is the antenna of an organisation and
What is marketing?
What is marketing? * Marketing is all the processes involved in moving goods from a producer to a consumer. * Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably. * Marketing is a human activity directed at satisfying needs and wants through exchange processes. Using these three definitions it is clear that marketing is not just about the adverts on the television. Marketing is a complex part of business. We can determine that marketing according to these definitions is the focus on the needs and wants of the consumers. The definition of marketing therefore goes passed the idea that it is just selling. We start to think about words such as identify- the ability to use market research. Anticipate- this is predicting the behaviors of customers and there reaction to new products, and Satisfy- the customer by ensuring they are happy with the quality, price, design and performance of the goods. How do we identify and satisfy customer needs and wants? This process can be long and complicated. Organisations should strive to identify both expressed (known feelings and thoughts) & implied (suggested or hinted) needs and wants. Using the information gained organisations should develop products that meet these expectations. This is known as the Customer orientated approach. Identifying needs and
What is Marketing?
PLM3302 Marketing and Promotion Answers with notes Lecture 2: What is Marketing? . Definitions of Marketing There are a lot of different definitions of marketing, however, the main concepts among those definitions are more or less the same. Marketing often confused with promotion. Marketing involves the entirety of a company's organization from internal organization onwards. However, promotion is only part of marketing. According to Philip Kotler, marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering, exchanging products of value with others. Marketing textbooks often define marketing as a business philosophy, the central tenet of which is "closeness to the customer". Therefore, the main concern of marketing is still to satisfy our customers' needs and wants. "The aim of marketing is to define and satisfy the customer's needs better. This is achieved by trying to create an exchange that satisfies all parties; juggling different factors, such as production and distribution, but all the while keeping the customer in the centre." A. Baverstock. In the past, most of the products and services were Product-led - Produce a good and then find someone to sell it so traditional notion of "gentlemanly publishing", the publisher deciding what is good for someone, e.g. in aesthetic terms. This might
