Marketing

Marketing Assignment example
Undergraduate
Assignment
Marketing
Pages 6 (1506 words)
Download 0
Marketing Short Answer Questions 1. The world of business is highly competitive in nature. For the purpose of generating and deriving their own competitive advantage companies often engage in a variety of tactics. One of the most common tactics is the SWOT analysis…

Introduction

On the other hand, the issues of opportunities and threats are categorized as external factors and are always analyzed with regards to the happenings and influence coming from the external environment (Pride and Ferell 33). 2. In very layman terms, marketing can be explained as an activity which comprises of the process of value generation, value communication, value distribution and value delivery to the consumers. Marketing is often represented as the activity which comprises of smooth application and integration of the 4Ps of marketing like product, place, promotion and prices (Pride and Ferell 4). Matching the 4Ps of marketing with the equation of value, it can be said that product represent value generation, place represents value distribution, promotion represents value communication and price represents value delivery and capture. It is very important for a business to implement the various variables of marketing in the right time but in a new and innovative manner so as to leverage the maximum amount of competitive advantage that can be extracted for the business. The importance of marketing can be well established by providing a well known example from the beverage sector of America. During the year 2010, through aggressive and clever marketing strategies, the Diet coke of Coca Cola overtook Pepsi to occupy the second spot in the US. ...
Download paper
Not exactly what you need?

Related papers

marketing
I found the group activities that were part of the course to be quite stimulating. I will admit that the ‘Functional Presentation’ part of the course provided a greater challenge for me than did the mainly theoretical part of course; however, both sections challenged me to find new ways of learning. I found out that most of the time, businesses in today’s world operate in an environment…
Marketing
This is achieved through transforming the physical features and insubstantial insights of a marketing offering in relation to the rivalry. It is vital to note that position is not determined by the appearance of the product or the sustenance that it pursues to stimulate. However, it is instead the insight or appearance that takes a distinct location in the mindset of the consumer; furthermore,…
Marketing
This paper will look at marketing in general, as a process of moving products or services from the manufacturers or providers to the hands of their customers. Marketing Definition Marketing is a large process as Pride and Ferrell (3) defines it, encompassing quite a lot of processes. According to Pride and Ferrell (3) “marketing is the process of creating, distributing, promoting and pricing…
Marketing
Marketing is therefore an essential department in every organization since it deals with the product and service proportion thereby catering for the organization’s operations. The department works in close relation with other management departments to ensure the organization operates as a unified whole. In carrying out their mandate, the marketing department develops its operations depending on…
Marketing
2003, 504). Marketing structures that play roles in the strategic planning process include formalization, specialization and centralization (Kellar, A. 2009, 389). These structures are, particularly, important in shaping the performance of an organization (Laforet, S. 2012, 163). Formalization is the degree to which working relationships and decisions are governed by standard policies, procedures…
Marketing
Marketing is a particularly fundamental function for strategy formulation in a business. It informs a strategy, counsels it, reviews it and provides insights into strategy formulation in an organization. An outstanding marketing department is involved in a continuous cycle of measure-analyze-plan-measure. This cycle is as well a key ingredient of strategic business management function. Therefore,…
Marketing
At the apex are vital corporate decisions dealing with the firm's mission, visualization, goals, and the allocation of resources in the midst of business units. Planning at this stage involves decisions concerning the divestment of the business units themselves. These decisions drop down the corporate constitution to the business-unit level, where planning is mainly focused on achieving the…