Marketing Essay

1323 Words6 Pages
I believe the overall concept of marketing is a business focused on the wants of their consumers;- using marketing-orientation (putting consumers at the centre of the business) and planning the future directions to go in. Looking at how my company positions itself I decided to evaluate Robert F. Lauterborns’ ‘five Cs’ marketing concept which consists of: -Company - What is my company? -Customer – What is the target market of my company? -Collaborators - Who are the partners of my company? People who can complement the selling of our goods or services? -Competitors - Who are your competitors? -Context - What is the business environment? Going into the more detail I have then looked at E J McCarthys’ ‘4Ps’ marketing mix, that was later developed into the ‘7Ps’. The 7Ps of marketing consist of: 1. Product - Describe the product you are selling. What need are you meeting? What problem are you solving? Describe the services ( after sales support) that supplement your products. 2. Promotion - How do you intend to promote your product? Through newsletters? TV advertisements? Radio advertisements? 3. Price - What price do you sell your product at? What are the prices of similar products in the market? 4. Place - How do you intend to distribute the products. Through mass supermarkets? Concept stores? Small Mom-and-pop stores? Walmart? A good marketing plan can help you focus your energy and resources. That's why market research, however simple or sophisticated, is important. Cost of: _regular marketing research _setting marketing focus structure _initial product development _building excellent services _attracting attentions of customers _building long-time relationships with: +customers +suppliers +distributors _customer retention Benefits: _profit _customer loyalty and trust _long term goal _reputation Marketing

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