• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Marketing - role in business

Extracts from this document...


Market Research Marketing | mkt | n. M16. [f. MARKET v. + -ING1.] 1 The action of MARKET v.; an instance of this. M16. b spec. The action, business, or process of promoting and selling a product etc., including market research, choice of product, advertising, and distribution. L19. 2 a Something bought at a market; a purchase. rare. E18. b Produce to be sold at market. rare. L19. Marketing is the creation or enlargement of demand for a good or service by a company. Market research is the study of consumer' needs and preferences. The aim is to obtain information that will help design a product or service, so that its sales and profits can be maximized. ...read more.


Most advertising is produced through national agencies, which employ copywriters, art directors, jingle writers, video producers, production specialists, market researchers, public relations officers, and a media department. We use market research to help sell a product or service. By performing surveys we can find out the needs and wants of the public. If we didn't use market research we would risk putting out a product or service onto the market that nobody would want, therefore the company would have no sale or profit. The four Ps stand for Price, Product, Place and Promotion. Each one of these is essential to a business and its marketing plan. ...read more.


Also if the company charges too low a price, it may not cover its costs. Once the product has been made and the price set, it is important that potential customers are told about the product. Promotion can also be used for reassuring the consumer that the product is of good quality and persuading them to purchase the product. Promotional methods include: advertising, direct selling, point of sale and incentives. Place decides where the product is to be sold. There are 3 main distribution channels to choose from: Traditional - selling the product to wholesalers who will then sell the product on to retail outlets. Modern - producers selling the product directly to the retail outlet. Direct - the producer selling directly to the consumer such as door-to-door sales or over the Internet. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Marketing 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 University Degree Marketing essays

  1. Chapter Notes on Marketing Management by Philip Kotler 10th Edition

    Even here, top management sets general pricing objectives and policies and often approves prices proposed by lower levels of management. In industries where pricing is a key factor (aerospace, railroads, oil companies), companies will often establish a pricing department to set or assist others in determining appropriate prices.


    1999 Major relaunch of Aero. Packs and variants: * Aero Milk Chunky * Aero Milk Medium * Aero Peppermint Medium * Aero Orange Medium * Aero Milk Giant * Aero Peppermint Giant * Aero Mini Hanging Bags Limited Editions * Aero White (launched 1999) * Aero Cappuccino * Aero Mint Egg (Easter; debut in 1996)

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