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Concepts and Processes of marketing segmentation, Targeting and Postitioning - Essay Example
Author : bettie35
Pages 8 (2008 words)
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…
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. ...