Advertisement and Marketing Communication

Undergraduate
Essay
Miscellaneous
Pages 13 (3263 words)
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The new economy has brought success to e-bay and other organizations that use technology to apply marketing concepts like customer focus, good value, quality service and efficient exchange mechanisms for satisfying customer needs and wants. …

Introduction

One of the shortest definitions of marketing is "meeting needs profitably (Kotler, 2003). Whether the marketer is Procter & Gamble, which created crest white strips in response to people's desire for whiter teeth; or Monster.com, which developed an online resume databank so job-hunters and employers can find each other more efficiently; or CarMax which invented a new way to sell used cars because people want more certainly when buying such vehicles, all illustrate a drive to turn a private or social need into a profitable business opportunity. Companies must carefully monitor their customers and competitors, continuously improve their value offerings, carefully define the target market and value proposition, and take a long term view to satisfy customers, stockholders, employees, suppliers and channel partners. Modern marketing calls for more than developing a good product, pricing it attractively, and making it accessible. Companies must also communicate with present and potential stakeholders as well as general public. For companies it is not important to communicate but rather what to say, to whom and how often. The marketing communication mix consists of advertising, sales promotion, public relations and publicity, personal selling and direct marketing.Advertising is any paid form of non-personal presentation and promotion of ideas, good or service by an identified sponsor. ...
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