This piece of research work presents a brief report based on various marketing concepts like marketing mix, segmentation, advertising agency and positioning from the view points of a marketing consultant who works for Hotel Verta, situated in Battersea, London…
Marketing mix is an extremely important step in marketing planning once the company has decided the overall marketing strategy. Marketing mix is a set of tactical marketing tools that the company or precisely the marketing management wants to produce a response in its targeted market. Marketing Mix consists of four significant marketing elements, namely Product, Price, Place and Promotion and they are generally termed as 4Ps of marketing. As Belch and Belch observed, an effective marketing occurs when and where there is an exchange process and business relation by examining customers’ needs and wants, designing, manufacturing and developing products accordingly, distributing them to customers, offering them to customers for an affordable price and arranging certain programs that can promote customers to make them aware and interested of the products.
As and when there is a careful and effective combination between these elements, and especially there is an integrated approach to these elements, the marketer will be able to influence the demand in the market and thus to bring greater competitive advantages. In recent years, markers have been giving greater emphasis to devise marketing activities to assemble fully integrated marketing programs so that the company can create, communicate and deliver value to the customers. The ultimate goal of the effective marketing mix strategy is to create and deliver values to the customers....
In recent years, markers have been giving greater emphasis to devise marketing activities to assemble fully integrated marketing programs so that the company can create, communicate and deliver value to the customers (Kotler and Keller, 2006, p. 19). The ultimate goal of the effective marketing mix strategy is to create and deliver values to the customers. Integrated Marketing Communication approach, that attempts to build strategic combination between marketing elements, has been considered to be an easy system approach to achieve the marketing goal. When it comes to the Hospitality industry, the main product mix is mostly of Service in nature. As far as Hotel Verta is concerned, various multicultural and organic food and drinks it prepares and makes them available to customers along with superior services it offers inside the hotel are the major portions of its Product element. Quality of the foods, varieties available, wedding specials, Spa verta, different designs and organic characters along with attractive packaging are some of the important variables of the product mix. Price is simply the amount that the products are offered for sale. But when it comes to Hotel Verta, discounts, free-food corner, credit allowances etc help the company create more values to its customers. Place normally indicates marketer’s activities that make the product available to the targeted customers for an affordable price. Highly attractive rooms, eco-friendly environments, the spa and rest rooms, and other infrastructures are helpful to retain customers and convert them to be loyal and therefore are some of the significant factors that add values to customers. As far as the Promotion element is ...
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Marketing means to promote a product or to make the people aware of the products of the company. Companies, which design fashion brands, launch marketing campaigns for creating awareness among the public about the newly manufactured products. A marketing campaign not only includes defining marketing goals of a company but also includes development of marketing strategies to achieve those goals.
Thus, the organization’s success in this competitive and dynamic environment is mainly determined by its ability to develop, implement, monitor and evaluate its business strategy (Roussow, 2003). In as far as marketing concept in business is concerned, it can be seen that the ideal criteria that can be used to select one depends on the goals and objectives to be achieved by the organization.
Products and services have increased to the point of saturation which makes the job of the marketers even more difficult. They have to develop a competitive edge over the industry despite the heavy competition or otherwise the brand will eventually die out.
Marketing is the critical business function that helps to attract the customers. Organizations can choose five different competing concepts in order to operate business. These are product concept, production concept, marketing concept, holistic marketing concept and selling concept.
It was founded by Akio Morita and Masaru Ibuka and derived its name from sonus which means smart and well-dressed young men. It is one of the principal manufacturers of electronic products for both consumer and professional markets and grabbed the ranking of 87th in the year 2012 in the list of Fortune Global 500 companies.
Marketing is the process of creation, communication, deliverance and exchange of offerings that are of value for the customers, partners, clients and also the society collectively. Marketing is also the creating, maintaining, and managing of the customer relationship for a long term in ways that are beneficial to the company and also the shareholders.
Social marketing can be used to modify behavior such as the antismoking campaigns that have been launched on behalf of various health organizations. The National Cancer Institute, a government agency, publishes numerous fact sheets on the methods and benefits of smoking cessation (Fact sheets: Tobacco/Smoking cessation). This information is designed to de-market a product by modifying behavior with the goal of decreasing consumption.