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Concepts and Processes of marketing segmentation, Targeting and Postitioning - Essay Example

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Concepts and Processes of marketing segmentation, Targeting and Postitioning

Pricing of a product depends on various variables before the product is taken to the market. In marketing people try to maximize profits which makes it very important for prices to be determined before the products are taken to various markets in the different geographical areas. The prices can also be different depending on the demand of the product being marketed and their utility. The place or the destination of the product is the third P of marketing. Marketers have to monitor and evaluate the places where the products will be more appropriate and which segmentation will ensure that their marketing strategies will be useful and worthwhile. The last P of marketing explains the promotion strategies of the product. Promotion depends on various products and the marketers expectations of the same. Some products maybe more promoted than others because human beings have a unique taste of products thus promoting a variety of products increases the chances of the products selling of faster than those that are not promoted (Sengupta, 2005). The Marketing Process The marketing processes vary from one different nation around the world to the different types of products being marketed in the same. Marketing over the years has improved from being a door to door operation to something that has expanded to internet activities occurring on a 24 hour basis. Today Nokia mobile phones are being marketed in every corner making very easy for clients to learn about the product its services and other features that make it superior to other types of phones (McDonald, 2008). Various companies including Nokia mobile phone manufactures have decided to go digital with their marketing strategy with their main aim being to maximize their sells of the products as well as be able to maintain their customers loyalty. Marketing is about giving knowledge to the world about a company’s product, like why the Nokia products are better than other phone producers, why the clients should decided on settling on Nokia product and stick with it, the benefits of the Nokia products especially the phones on the short term basis as well as the long term and where the product best fits to be used. Marketing does not necessary reflect the product profit margin, but how well the product can be identified by various people around the world and the impacts it gives to various communities. Marketing is about selling the brand to as many people possible, giving details on any changes if about the product, updating customers on prices and the nearest stores they can access the products (McDonald, 2008). Marketing is about promoting a product to gain customers trust and liking to other manufacturer’s products that produce the same kind products. The more resources a company uses to market its product the better chances the company may be able to sell their product to a larger segmentation. Market Orientation and a Brief Description of Different Orientations That Could Be Adopted Marketing orientation can be defined as companies, organizations or firms reacting to the customers’ demands and the next products they produce will be to fit majority of the customer’s specifications. The decision for market orientation is based on the customers feedback and the companies concentrates more on the customer’ ...Show more

Summary

Name Institution Course Instructor Date Introduction Marketing can be referred as a management procedure through which goods and services are promoted so as to ensure that customer requirements are met, and an organisation maximises its profits. This process includes the harmonization of four elements referred to as the 4P’s of marketing that could also be used to market Nokia phones around the world…
Author : bettie35
Concepts and Processes of marketing segmentation, Targeting and Postitioning essay example
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