Marketing has often been identified in conditions of gratifying customers needs and would like. Critics however maintain that marketing runs beyond that and creates needs and needs that did not exist before, Regarding to these critics, marketers encourage consumers to invest more money than they should on goods and services they really do not need.
Marketing process can be discussed as creating value for customers and building customer romance by doing this the organisation makes profit
The various elements of marketing process can be classified as follow
Understanding the marketplace place and customers' needs and desires is achieved through in-depth general market trends and thereby identifying a product space or needs difference. This calls for trends, how to make things easier, comfortable, better and user friendly. In the early 80's there have been few or no cell phones. A thorough general market trends has created the need for mobile phones, then came the massive first generation cell phones.
This were later followed by smaller ones and these days we can easily see the smart telephones with inbuilt surveillance cameras, time online movies and news potential to genuine work from your mobile Samsung word to the new tablets.
Every day specialist market research companies, innovators, technicians and scientist all work hands on hand to create a new market or brand which makes our lives much more comfortable. Even the pay as you go concept became noticeable as people cannot continue steadily to pay the extraordinary high cost then been billed by manufacturers who had been looking at ways to cover the price tag on their research and development. So the critics may well not be far from the truth however the ideal is marketers coming with ways and products which makes our lives easy.
Design a person driven online marketing strategy. Online marketing strategy is a permanent means of attaining a corporate target. If we take the example of the cellular phone industry where the likes of Samsung, IPhone, Nokia are in serious competition each as to design a marketing strategy to capture a talk about of the marketplace. Like a military services personnel will define the fine art of heading to warfare.
Marketing program that gives superior value : This refers to the marketing combination this is the 4ps Usually discussing E. Jerome McCarthy's 4 P classifications for expanding an effective marketing strategy, which encompasses: product, price, positioning (syndication) and advertising. When it's a consumer-centric marketing mix, it has been expanded to include three more Ps: people, process and physical evidence, and three Cs: cost, consumer and competition. Depending on the industry and the prospective of the marketing plan, marketing professionals will need various methods to each of the four Ps.
Market orientation is the understanding of customers' requirement and creation of marketing mix that may meet these needs. Market motivated means the companies capability to understand, entice and keep valuable customers
G. Armstrong and P. Kotler define marketing as interpersonal and handling process
by which the individuals and organizations procure what they want by creating and exchanging prices with others.
A market-oriented company is in a position to achieve competitive advantage
thanks to its unique progressive method of customers. Furthermore,
according to the judgment of P. R. Dickson, a competitive advantage should be
understood in the sense of dynamics of competition. He expresses disagreement
with the standpoint of neoclassic theory of market equilibrium and claims
that the main characteristic of the market is its disequilibrium. He sees marketing
as a research and skill of creating changes (disequilibrium) on the market in
the manner that could give the changes that are advantageous for the company.
Various responses of salespersons and customers to changes in resource and
demand, feels Dickson, create prospects that might be used by the company
that understands market. He underlines the importance of modifying company
to the marketplace occurrences.
Benefits and cost of market orientation
Figure 2: Customer romance groups
Source: G. Armstrong, P. Kotler, Marketing: An Advantages, 7. ed. , Pearson/Prentice-Hall,
Upper Saddle River, NJ, 2005, p. 25.
The above summaries the huge benefits and cost of market Orientation other advantages and disadvantages.
Responding to Demand
Building Customer Value
Extensive and Expensive Research and Increased cost.
Micro and Macro environmental factors that have an effect on marketing Decision
The micro environmental factors are factors that can be managed by the company and relates directly with the business they are considered using the factors in fig 3
Micro Environmental factors
Fig 4 shows how different general public affects organisation. The general public that have an effect on the marketing decision of the yet they could be managed and are thought to be micro are the relation with the following members of the open public e. g Financial people this is based on say including the organisation's annual profits.
Macro Environmental Factors
The Target market for cell phones companies and IT companies are more likely to be the high income generating spectrum of the society or the new graduates and the town bankers and young people in the top echelon of contemporary society who will have the ability to afford the designed packages that are about to be launched into the market very soon The package will include home entertainment, office package deal, security package, phone and video telephone calls and financial/bank deal all launched as you integrated hand held device.
Market segmentation, and Focus on is followed by positioning, this should be developed and integrated by creating a graphic for the merchandise, profiling the target market,
High Tech gadgets like this built-in hand held device will be bought predicated on the technical specification what comfort or simple doing a activity it provide.
Buying Behaviourur is just how and act of folks involved with buying and using products. To understand these we have to consider, why a buyer can make a purchase, what factors effect will effect a buyer to buy a certain product.
Buying Behaviour identifies how people will behave when buying a certain product.
A firm must consider and review buying behaviourur and people's reactions to the company marketing strategy has this will have great impact on the firm's success.
The marketing theory show what sort of marketing combine (MM) that satisfies (gives utility to) customers, hence it important to understand the what, where, when and how consumers buy.
Stages of the Consumer Buying Process
There are Six Periods to the buyer Buying Decision Process (For intricate decisions).
The evoked set.
Evaluation of Alternatives
Post Purchase decision
Buying behavior is often dependant on the level of consumer participation in the purchase decisions, the importance and level of interest the consumer decisions depends upon the motivation to get information about the product or service. High engagement purchase such as buy an extravagance car or other expensive items. Also the factor of risk mixed up in use of the product this is the social risk and the economical risk.
The four kind of consumer buying behaviour:
Routine Response/Programmed Behaviourr, Small Decision Making, Extensive Decision Making/Complex, impulse buying, Schedule Response/Programmed behaviour-- this are low participation hardly any or no decision work is required E. g. A can drink.
Limited Decision Making- This are product bought occasionally example are like clothing however, not brands
Extensive Decision Making/Complex: This calls for new, expensive and infrequently bought goods. It will involve a high amount of economical performance, and internal risk. e. g. cars, homes, computers, it also includes lots of time seeking information and deciding. and consumers will go through all six phases of the buying process.
Impulse buying, this are purchase which are unplanned it like buying chewing gum in the Conner shop without actually great deal of thought. Also prices at time business lead to impulse buying. They are usually low valued items.
Ethan Lyon said "The goal of market placement is to find the ideal opportunity on the market based on customer needs, market causes and financial and tactical considerations". Once the market opportunity is determined then the organisation can further develop its product and raise its brand to provide excellent value. To clarify the market position, the organization should find an overarching theme, then determine the facts. (sparxoo. com)
Brand Idea-The idea can be an aspirational idea it defines the idea of what the business. For example the Samsung note complements the concept of designed for human
Value Proposition- A person or a consumer purchasers the Samsung notice they see high value and high quality
Differentiating Attributes-Samsung has distinguished itself from Apple by targeting the key stream yet providing quality and equivalent or better cell phones than those provided by Apple