Kumar and Reinartz (2012) define marketing as a process of communication that occurs between a business organization and its target market. Kumar and Reinartz (2012) further observe that the main aim of an organization to engage in marketing activities is to sale its products, and notify the target market on the existence of its products…
Let us write or edit the essay on your topic
"Explain the marketing concept and discuss what it means for an organisation to have a marketing orientation, using examples t"
with a personal 20% discount.
Boone (2012) further denotes that coca cola used the social media, the print media, and the electronic media to advertise the products and services that it offers during this period of the world cup. By looking at this strategy of coca cola, we can denote that advertising is an important element of the principles of marketing. The main aim of carrying out an advertisement is to persuade the target market on the need of buying the products under consideration, and promoting the product under consideration. Russell (2012) denotes that for an organization to achieve success and efficiency in their marketing strategies, they must develop an advertisement that has the capability of persuading its target market on the need of buying into the products of the company. For example, an effective advertisement has to contain the name of the product, the usage of the product, and the value in which a customer will get by using the products under consideration (Kozmetsky, 2012). Companies such as Nokia, Samsung and Apples have developed an advertisement strategy that is always very effective in persuading their target markets on the importance of buying their products. This is by aligning the various technological needs of their target markets in their products, and communicating what they have done to their customers (Kozmetsky, 2012). Kotler and Armstrong (2012) believe that marketing concept involves developing policies products aimed at satisfying the various needs of the customer. In the current era, many business organizations in the world aim at achieving efficiency in the manner in which they meet their objectives. Kotler and Armstrong (2012) observe that the main objective of a business organization is to maximize profits, and increase their market share. To achieve this objective in an efficient manner, an organization must integrate all the four concepts of marketing, while developing a marketing strategy. These concepts are, product, price, promotion, and place. Under the principles of marketing concepts, Ramachandra and Chandrashekara (2010) believe that an organization will seek to improve on the quality of their products, and minimize costs for purposes producing products which are of high quality value, and affordable to the majority of its target market. By using these policies and concepts, the organization might manage to increase its market share, and its profitability. On this basis, the marketing principles of product and price come into place. Brenkert (2008) believe that the quality of an organizations product will determine whether it manages to satisfy the various needs of customers. This is because the notion of marketing concept involves developing products whose main aim is to satisfy the various needs of customers (Brenkert, 2008). If a product does not satisfy the various needs of customers, then chances are high that the company might fail to make sales (McDaniel and Gates, 2013). This might result to losses, and the eventual closure of a business organization (Brenkert, 2008). The pricing of a product is also a very important aspect of marketing. The price of a product determines whether customers might afford the product under consideration, or fail to afford it. Ramachandra and Chandrashekara (2010) denotes that if the products of an organization are very expensive, and of high quality, then they will attract the most affluent ...
Cite this document
(“Explain the marketing concept and discuss what it means for an Essay”, n.d.)
Retrieved from https://studentshare.net/marketing/113868-ypexplain-the-marketing-concept-and-discuss-what
(Explain the Marketing Concept and Discuss What It Means for an Essay)
“Explain the Marketing Concept and Discuss What It Means for an Essay”, n.d. https://studentshare.net/marketing/113868-ypexplain-the-marketing-concept-and-discuss-what.
After all the ideas are gathered, an idea screening process is utilized to sift though the proposed ideas and determine which ideas require further study or research. The main goal of the screening process is to eliminate bad ideas or concepts as soon as possible in order to minimize research development costs (Kotler).
Thus, people become the most vital factor in developing market strategies. In competitive environment of global business, it becomes very important for businesses to study in advance the various factors that influence the buying decisions of the consumers.
In the era of globalization, the meteoric rise of the global multinationals has increased the need for governance in conducting the business. The growing revenues and increasing expansion of these giants beyond their own geographical boundaries have made their presence formidable in the International Political Economy.
This has brought into focus the results of being customer oriented and the benefits a company could derive out of it. A number of methods to rate market orientation have been studied and the same has been used to identify easy rating needs of companies. Methods such as Kohli, Jaworski and Kumar (1993) orientation scale and that of Narver and Slater (1990) are quite well known.
Dismantling of communist political regimes in the erstwhile iron curtain countries hastened the path of globalisation and made way for the emergence of the bulkiest chunk of international market viz. China, for all global marketers alike. This included top branded goods and services.
Despite the differences among business in the global landscape the marketing profession is able to categorized firms into five categories. These categories provide a conceptual idea of what the company is dedicated too and what is its market orientation.
In a study involving the interaction with a group of 153 high-tech CEOs, first surveyed in 1998 and again subsequently surveyed early in 2001, it was observed that both pro-activeness and innovativeness were weakly positively related to employment growth and innovativeness was positively related to turnover growth.
the company to effectively organize and manage the product development process The process starts with idea generation where a number of creative ideas can come forth that could potentially developed into a new successful product launch. After all the ideas are gathered, an