...------------------------------------------------- Question - What is marketing process? Explain the steps in marketing process. Introduction The activities of marketers both reflect and shape the world we live in. Every year new products and services are launched and some of them succeeds on an unprecedented scale. As in the case of Apple's iPod, iPhone, and also iPad. They all are great inventions and highly successful in market. According to marketing concept, the organisation must find ways to discover unfulfilled customer needs and wants and bring products that satisfy those needs and wants. This can be done in a sequence of steps that is called marketing process. After reading this you will understand - what is marketing process, and the steps involved in marketing process. Meaning of Marketing Process The Marketing Process of a company typically involves identifying the viable and potential marketing opportunities in the environment, developing strategies to effective utilise the opportunities, evolving suitable marketing strategies, and supervising the implementation of these marketing efforts. Marketing process involves ways that value can be created for the customers to satisfy their needs. Marketing process is a continual series of actions and reactions between the customers and the organisations which are making attempt to create value for and satisfy needs of customers. In marketing process the situation is analysed to identify opportunities, the strategy...
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...ABSTRACT In marketing its important to have a mission, value and vision for the company, product and service. It’s also important for companies doing business internationally to follow the countries polices and beliefs. Coca Cola has implemented the concept of mix marketing that even the completion has tried copy to have a successful business. INTRODUCTION Coca Cola is a beverage company that produces several brands of beverages such as soft drinks, juices and sports drinks. Coca Cola is best known for manufacturing and supplying their drinks since 1886. Coca Cola operates out of 200 countries internationally, produces and sells over 500 brands to its distribution channels. Four countries Four of the countries that Coca Cola operates out have and partners with to help the countries people environment economy health and education. China, South America, Africa and the U.K. The four ps in marketing mix The four P’s in the marketing mix are product, price, promotion and place (location). Coca Cola’s products offer over 300 beverages and they mix the product with other companies such as Fanta, Sprite, Fruitopia, Coke and powder juices. (Marketing Mixx.com 2012) The second P in marketing is price. Coca Cola prices vary by brand, size and amount. Coca Cola offer prices in other countries are genuine and readily accepted by the population, which usually is based on supply and demand. The third P in marketing is promotion. Coca Cola’s promotion of the brand is an important...
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...Term Paper Title : Strategic Planning and the Marketing Process (Chapter: 2) Prepared For : Syed Abul Kalam Azad Professor Department of Marketing Faculty of Business Studies University of Dhaka Members Profile : (i) Md. Ershadul Islam Id no: 41323024 E-mail: ershad1811@yahoo.com Phone: 01717-461080 Position: Manager (ii) Md. Masum Sarder Id no: 41323033 E-mail: masum.sarder@gmail.com Phone: 01913-135057 Position: Executive (iii) Abu Nasar Zahid-Al-Mahmud Id no: 41323008 E-mail: saadi013@yahoo.com Phone: 01912-027058 ...
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...Marketing Process Essay: This page essay provides information about the Marketing Process. To begin is important to understand the meaning of Marketing. The American Marketing Association defines marketing as “The Process of planning and executing the conception, pricing, promotion, and distribution of ideas, good, and services to create exchanges that satisfy individual and organizational objective”. The Marketing process is the method of evaluating openings, choosing the proposed customer, addressing the consumer needs and wants, describing the price, product, place and promotion and addressing the marketing campaign. Marketing process takes major responsibility to control overall marketing strategy. In marketing process, you need to decide which customers you will serve in your target audience by segmenting the market and then you have to position your products to that targeted customers. Nevertheless, for ascertaining the most effective and most advantageous marketing process you should slot in marketing study, designing, ways of carrying out and assuring. The marketing process has 4 key steps that lead to a successful advertising campaign. These steps are: Analyzing marketing opportunities: The first step on the marketing process is analyze the market opportunities and availing these opportunities to satisfy the customer’s requirements to have competitive advantage. The Marketing research is an indispensable marketing tool. Researching the market allows the...
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...Step 1 – Preliminary Analysis and Screening The importance of analysis and screening in the planning process of a firm whether it be a new firm going international or an old firm seeking further expansion cannot be over-emphasised. An analysis or evaluation of the potential market is the first step to take in the planning process. A critical decision area within this first step is which existing country market to invest in. This decision should be informed by the firm’s current situation which involves a critical analysis of its strengths, weaknesses, opportunities and threats. Furthermore, its orientation, products, policies and philosophies must be matched with the targets country’s market potential and its constraining factors. The screening phase thus, allows the firm to eliminate markets or countries with weak potential and by that helps the firm to concentrate on the ones that are viable. However, in situations where target segments are emerging markets, it presents some challenges, this is because distribution challenges are not well developed, market infrastructures are still developing and income levels vary from country to country. Once an agreement has been reached on target markets, prospective countries can be evaluated. This is done by running a country’s PEST factors against the company’s capabilities, resources, objectives for going international and limitations. The latter and the expected return on investment should inform the evaluation criteria in assessing...
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...Summary of Key Points for Chapter 2 Chapter Objectives: 1. Explain companywide strategic planning and its four steps. 2. Discuss briefly how to design business portfolios and develop growth strategies. 3. Explain marketing’s role under strategic planning and how marketing works with its partners to create and deliver customer value. 4. Describe the elements of a customer-driven marketing strategy and mix, and the forces that influence it. 5. List the marketing management functions, including the elements of a marketing plan. COMPANYWIDE STRATEGIC PLANNING: DEFINING MARKETING’S ROLE The task of selecting an overall company strategy for long-run survival and growth is called strategic planning. Companies typically prepare annual plans, long-range plans, and strategic plans. Strategic planning is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing market opportunities. Refer to Figure 2.1 on pg. 63, which shows the 4 steps in strategic planning. 1. Defining a Market-Oriented Mission Many organizations develop formal mission statements. A mission statement is a statement of the organization’s purpose – what it wants to accomplish in the larger environment. A clear mission statement guides people in the organization. A market-oriented mission statement defines the business in terms of satisfying basic customer needs. See Table 2.1 (pg. 64) for market-oriented vs...
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...Assessment 3 1. Briefly overview the marketing activities This section about implement marketing strategies and tactics, briefing stakeholder on their roles and responsibilities, identify marketing and non-marketing personnel on the objectives of the plan, performance measures, and their role and responsibilities. Prioritising marketing strategies and identify resources for their implementation, communicating and team building strategies to ensure that personnel responsible for each element of the marketing mix work together to meet marketing objectives and implement strategies for monitoring marketing activities and analysing marketing performance, in according with the marketing plan. 2. Describe the marketing strategies and tactics Deciding what to do is important, the actual implement of the strategies and tactics is equally as important. This means that a systematic approach is required to identify the marketing strategies of the organisation and they implement the tactics and activities required for each strategy. This initial information can typically be typically be obtained by looking at the organisation’s marketing plan. The action plan should outline the tactics or activities required for each strategy. For example, action purchase top placement in internet searches for relevant commonly searched terms, run an advertising campaign on radio and tv, establish a loyalty program to increase repeat business and referrals. As with all action plan...
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...Marketing LaTroya c. Boyd MKT/421 4/30/14 Dr. Michael Rico WHAT IS MARKETING? I consider marketing to be a form of art. The goal is to persuade the audience and lead each individual into the direction of being convinced. Whether it is a product sold in the market or an idea of a business and the creator is looking for an investor, marketing builds the connection that should ultimately lead into trust. According to “Basic Marketing A Marketing Strategy Planning Approach” marketing is defined as more than just buying and selling. It is stated that “marketing is the performance of activities that seek to accomplish an organizations objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to consumer or client.” In other words, the mission of any business is to keep track of what customers are most interested in order to maintain a successful business. It takes strategic planning and for all involved in the company to use good communication skills and learn to coordinate with the rest of the so that everyone is on the same page. To promote goods or services the marketing strategy should be organized. Un-organization is the recipe for failure. Personally I believe marketing is quite a few things. Marketing is art. It is a process of convincing people and promotion. Other sources will sum marketing up and describe it as a management process where goods and services are moved from a mere idea to the consumer...
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...Hewlett-Packard and the Marketing Mix Jonathan Boone MKT/421 Marketing October 10, 2012 Hewlett-Packard and the Marketing Mix Introduction Hewlett-Packard is one of the best computer companies in the technological industry. Created in January 1939 from two Stanford University classmates, Bill Hewlett and Dave Packard and Hewlett-Packard were incorporated in 1947. The foundation of the company was based on technology in software and services. In the early stages of Hewlett-Packards development, the organization concentrated on handheld calculators. As the company grew, Hewlett-Packard expanded with the first personal computer in 1980 to service individuals from personal to the business environment alike, in addition with inkjet printers. The organization feels that personal computers were the light of the future. Hewlett-Packard strove on using the marketing mix to achieve high standard goals and profitability and to develop the organization’s marketing strategy and implementation. The marketing mix that Hewlett-Packard uses is a very important element in the business’s success. How a marketing mix is used determines the strength, growth, and survival of the organization. If used properly and carefully, the four elements will help the marketer to achieve the business’s primary goals. The marketing mix plays a vital role in the growth and survival of the organization. A proper and carefully evaluated mix of these elements enables the marketer in achieving a...
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...ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD (Commonwealth MBA/MPA Program) Marketing Management (5565) CHECK LIST Semester: Autumn, 2013 This packet comprises the following material:- 1. Text Book 2. Assignment No. 1, 2 3. Assignment Forms (two sets) 4. Course outline In this packet, if you find anything missing out of the above mentioned material, please contact at the address given below: Mailing Officer Services Block No. 28 Allama Iqbal Open University H-8, Islamabad 051-9057611-12 Majed Rashid Director Overseas Education & E-Learning & Course Coordinator ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD (Commonwealth of Learning Executive MBA/MPA Programme) WARNING 1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE. 2. SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN “AIOU PLAGIARISM POLICY”. Course: Marketing Management (5565) Semester: Autumn, 2013 Level Executive MBA/MPA Total Marks: 100 Instructions a) All written assignment must be well organized, presented in an easy-to-read format, and neat. If your handwriting is not legible, type or compose the written assignment. Moreover, pay particularly close attention to grammar, spelling punctuation and understandability. Communication is extremely important...
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...Marketing strategy From Wikipedia, the free encyclopedia Jump to: navigation, search Crystal Clear app kedit.svg This article may need to be rewritten entirely to comply with Wikipedia's quality standards. You can help. The discussion page may contain suggestions. (May 2009) Marketing Key concepts Product marketing· Pricing· Distribution· Service· Retail· Brand management· Account-based marketing· Ethics· Effectiveness· Research· Segmentation· Strategy· Activation· Management· Dominance· Marketing operations· Social marketing· Identity Promotional contents Advertising· Branding· Underwriting spot· Direct marketing· Personal sales· Product placement· Publicity· Sales promotion· Sex in advertising· Loyalty marketing· Mobile marketing· Premiums· Prizes· Corporate anniversary· On Hold Messaging Promotional media Printing· Publication· Broadcasting· Out-of-home advertising· Internet· Point of sale· Merchandise· Digital marketing· In-game advertising· Product demonstration· Word-of-mouth· Brand ambassador· Drip marketing· Visual merchandising v· t· e Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage...
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...Marketing Mix Tammi L. Temeyosa MKT/421 June 16, 2013 Nick Okoro Marketing Mix Starbucks is a leader in the coffee industry and in the business world. Starbucks is currently the largest chain in the world of coffee houses. The company purchases and roast whole bean coffees to sell, along with handmade tea beverages, food items, and coffees sold inside their retail stores. “As of Oct 3 2010, Co. has 8,833 company-operated retail stores and 8,025 licensed stores worldwide” (Starbucks). To maximize brand recognition and awareness to become the most respected and recognized in the coffee world, Starbucks implanted a marketing program that uses a marketing mix to satisfy the wants and needs of its large target audience. Discussed below is the breakdown of the marketing mix: product, place, price, and promotion. Product Starbucks sells everything from espressos, brewed coffees, iced drinks, smoothies, Panini’s, pastries, snack items, mugs, and even music. Starbucks sells more than 30 types of eco-conscious frappe’s to whole bean coffees and iced drinks along with other brand stamped memorabilia. Not only do they offer coffee but also have smoothies, wraps, and pastries to improve the customer experience and stay ahead of the competition. Starbuck’s has also introduced “Instant via Ready “and expanded their Tazo line with Tazo Tea Infusions and Full leaf Tazo Tea Lattes. The company claims that the instant coffee named “Instant via Ready” is very distinguishable in...
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...UNIT 8: MARKETING IN HOSPITALITY Get assignment help for this unit at assignmenthelpuk@yahoo.com LO1 Understand the concepts of marketing in a services industry context Core concepts: definition of marketing, customer needs, wants and demands, product and services markets, value, customer satisfaction/retention, quality, cost/benefits, efficiency/effectiveness, profitability, the growth of consumerism, strategic/tactical marketing, reasons for growth, marketing as a business philosophy, relationship marketing, changing emphasis of marketing Marketing environment: micro environment of the company; stakeholders eg suppliers, intermediaries, owners, financiers, customers, competitors, local residents, pressure groups; macro environment demographics eg economy, society, ecology, technology, politics, legal, culture; strengths, weaknesses, opportunities and threats (SWOT) analysis; political, economic, social, technical (PEST) analysis; Porter’s competitive forces Consumer markets: central role of the customer, customer culture, models and types of behaviour, consumer orientation (internal and external), competitor orientation, decision process, value chain, value and satisfaction, long-term relationships Market segmentation: principles of segmentation, targeting and positioning, segmentation bases eg geographic, demographic, behavioural, lifecycle stage, income, gender Ethics and social responsibility: sustainability, social audit, public relations, legal and regulatory considerations...
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...TRICLIMATE & CO. OUTFITTERS | MARKETING PLAN | Mission Statement. | By Malvina Begay, Tahnee Stands, Terry Redlightning, and Lindsey Vargas | Table of Contents Native American Women’s Jacket 2 1.0 Company Description 2 1.1 Introduction 2 2.0 Business Mission 2 2.1 Mission Statement 3 3.0 Situation Analysis 3 3.1 Industry Analysis 3 3.2 SWOT Analysis 3 3.2.1 Trends 3 (Text) 3 3.2.2 Competitors 3 (Text) 3 3.2.3 Consumer Profile 3 (Text) 3 3.2.4 Technology 3 (Text) 3 3.2.5 Strengths 3 (Text) 3 3.2.6 Weakness 3 (Text) 3 3.2.7 Opportunities 3 (Text) 3 3.2.8 Threats 3 (Text) 4 4.0 Marketing Objective 4 5.0 Marketing Strategy 4 5.1 Target Marketing Strategy 4 5.2 Marketing Mix 4 5.2.1 Production 4 (Text) 4 5.2.2 Place/Distribution 4 (Text) 4 5.2.3 Promotion 4 (Text) 4 5.2.4 Price 4 (Text) 4 6.0 Implementation, Evaluation, and Control 4 6.1 Marketing Research 4 6.2 Organizational Structure and Plan 4 (Text) 4 6.3 Financial Projections 4 (Text) 5 6.4 Implementation Timetable 5 (Text) 5 7.0 Summary 5 (Text) 5 Native American Women’s Jacket Triclimate & Co. Outfitters Marketing Plan 1.0 Company Description 2.1 Introduction (Text) Products and Services (Text) The Company (Text) 2.0 Business Mission 3.2 Mission Statement (Text) 3.0 Situation Analysis (Text) 4.3 Industry Analysis (Text) 4.4 SWOT Analysis 4.5.1 Trends ...
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...To fully understand the importance of marketing and organizational success one must understand what marketing is. Marketing and marketing decisions are the key to an organizations success. Without the marketing process and marketing strategies an organization is sure to fail. To me marketing is the communication of products to a specific target market, and marketing plans are based on the four P’s of the marketing mix: product, place, promotion, and price (Perreault, Cannon, & McCarthy, 2011, p. 35). According to the American Marketing Association, “marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (Definition Of Marketing, 2012). In addition, “marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer to client” (Perreault, Cannon, & McCarthy, 2011, p. 6). The marketing process and marketing strategies are important in an organizations success. Without these important elements in marketing organizations are sure to fail. The marketing process consists of three important steps. The first step is planning marketing activities. The second step consists of directing the implementation of the plans, and the third step is controlling these plans (Perreault, Cannon...
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