Elements Of Marketing Principles Essay

1373 WordsDec 21, 20116 Pages
Task 1 1. Marketing Process - The process of (1) analyzing marketing opportunities; (2) selecting target markets; (3) developing the marketing mix; and (4) managing the marketing effort. http://www.google.co.uk/#hl=en&q=marketing+process&tbs=dfn:1&tbo=u&sa=X&ei=ZPDoTq-RM8Ttsga58sCZBw&ved=0CCAQkQ4&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=c14d1682a89444f5&biw=1024&bih=475 14/12/11 6:55pm An overview of the marketing process with brief explanations of situation analysis, marketing strategy, marketing mix decisions, and implementation and control. http://www.netmba.com/marketing/ Marketing puts customers at the centre of a firm's activities. Rather than producing goods and services and then seeing if people buy them, companies should focus on understanding customers' needs and meeting these needs better than the competition. This marketing orientation underpins the concept of marketing and it is this with which we start the unit. These fundamentals of marketing include the marketing management process and the "marketing mix" which defines what is offered to customers and how. Our second area of study is the marketing environment and the methods used by marketingmanagers to keep in touch with changes in it. Organisations exist in a complex environment.That environment comprises customers who bring revenue into the organisation, andsuppliers who provide it with raw materials. There are also many other elements of theenvironment, such as legislation and social trends, which can have a major impact on a company. Marketing is essentially about satisfying the needs of customers efficiently and effectively, so marketing managers must continually look for evidence of changing needs. It must also look for factors that might affect its ability to turn inputs into outputs efficiently and effectively. Customers and products form the heart of a company's

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