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Finance & Accounting
Pages 4 (1004 words)
Integration question Table of Contents Table of Contents 2 1. 3 References 7 1. The simple definition involves the position of 4P’s which essentially consists of product, place, promotion and price. In a more explanatory manner, it can be said that the process of marketing is to create, communicate and distribute value to the customers or clients for a particular product or service…
While the basic fundamentals of marketing relating to the process of value creation, value communication, value distribution and value capture essentially remains the same, it can be increasingly said that the application of the processes has changed a lot. Various forms of marketing have emerged with the evolution of technology sponsored platforms, which enhances and multiplies the power of marketing. The secret to marketing still surround the process of retaining existing customers, while going for acquisition of new customers by creating as well as enhancing the demand for products and services, while making the consumers and clients of their enhanced and ever evolving needs. The process of introduction of the US Consumer Bill Of Rights in the year 1963 enhanced the power of consumers by providing the right to information, safety, and choice as well as consumer voice. This led to the emergence of a consumption pattern, where consumers more increasingly focused on the process of acquisition of materialistic goods. ...
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