Marketing al Affiliation: Marketing Marketing is an administrative procedure through which merchandise and services move from the notion to the consumer. It entails communicating the worth of the produce to customers with the aim of selling those manufactured goods (Blythe, 2006). The act of marketing has views regarding the business in terms of the needs of clients and their satisfaction. The process has less to do with asking customers to pay for the product, but it is more on increasing a products demand and satisfying clients needs. The 4ps One, product it describes the goods and services that one is going to put up foe sell in the market.
Product outlines what it does to the client and how it assists the customer to attain or avoid something. The person must be specific on the benefits and how the consumers life and occupation will change after the purchase of the good (Luther, 2001). Two, price is the exact cost of the goods or services offered and on what foundation. How one is to price the product at retail, wholesale, the cost for capacity discount and correct price. Three, place the position for selling the good at a given price.
Place also describes whether a person will sell from the company or via internet, retailers, wholesale, catalogs or direct mail. Four, promotion it entails all forms of advertisement and how one will endorse, advertise and sell a good with a certain price and the place. Relationship marketing is a plan intended to foster customer reliability, relations and lasting engagement. It focuses much on long term client retention that getting many new and single transaction clients (Luther, 2001). Basic element Marketing focuses on fulfillment of consumers wants needs and necessities, delivery of worth to satisfied clients via trade.
It also about possessing the marketing wants in the organization by all, identification and expectation of future needs and focus on profitability (Cherington, 2004). Moreover, it focuses on its influence on society and lasting connection with customers. Marketing is essential in our society since it provides career prospects like, packaging, marketing research, transport, storage, product development, sales, retailing and wholesale. SWOT Analysis SWOT analysis is a study guide that helps one to recognize the positive and negatives in the company, outside and in the surrounding environment.
It is important because it helps in creating a full awareness of the situation. It also assists in strategic preparation and in making decisions. The major parts of a marketing strategy are a target market as well as the marketing mix to suit the aimed market. A best marketing strategy helps the company achieve its goals, Components of Marketing Plan One, managerial mission it outlines the direct force of the institution by describing the end vision that the institution aims to achieve (Luther, 2001).
The task comes from the management and frequently remains unchanged for long. Two, the objectives they replicate what the organization anticipates achieving through its efforts in marketing. They also run from the leadership to the selling department. Objectives might be in the outline of financial target or marketing aims. Three, the marketing strategy accomplishment needs a marketer to involve in promotion decision creations which will indicate where capital will be going to. Four, tactical programs they are the daily processes by marketers and entail the main marketing choice areas (Pride & Ferrell, 2008).
Tactic program is the input area of the plan as it clarifies what will be done to achieve the institutions priorities. Five, the marketing budget it sets out the expenditure required to undertake marketing tactics. The management has a duty to state the amount of financial resources. Marketers are excited about social media because it reaches allot of people; it allow business to target precise groups mostly in specific places. Most of the media forms are free and low options for payments, it’s fast and easy and allows for personal communication with clients. Steps in consumer decision making First, the majority decision making begins with the recognition of the problem.
The customer develops a want that needs to fulfill (Luther, 2001). When one identifies their aim demographic identifies the need, it will be the best to publicize to them. Second, people research for goods or services that meet their needs. Search engines are the main research tool for solutions. Third, once the clients have identified what will please their wants, they will begin to look out the best deal by evaluating alternative.
The process may be on quality, price and other special factors for them Fourth, the criteria for decision help clients make a decision on what they will buy from the company. Additionally they are taking risk at the process, and they are specific on what to buy. Five, once purchases occur; evaluation helps find out if the need have been satisfied. The aim of the seller is not for a one- time client but a replicating lifetime client. An outstanding experience leads to a loyal clientele. Consideration of how we buy One, the reputation of the product or manufacturer once a person buys things that they know are good because of the business status, he will be willing to pay extra for the name.
Others will look for general brand of the product since they believe it to have the best quality. Two, quality people always pay more for good quality product such as foods and drinks (Pride & Ferrell, 2008) Three, price people will buy things on sale previous to pay complete cost when theres a small disparity between the goods and services.
Four, reputation of the seller one checks at the marketers reputation from the clients response. STP is a process aimed at demonstrating the connection between the general market and how an organization decides to contend in a given market. It is essential since its goal is to shows companies how to advance and put in place the right marketing mix. Market segmentation It is the procedure of defining and separating a large homogenous promotion into a particular segment with the same wants, needs or demand features. Types One, geographic it focuses on the location of the clients.
Customers that stay and labor in different places may have varying wants when it comes to products (Blythe, 2006). Two, demographic these market sections are mainly ways for organizations to segment its clients. It involves features such as sex, age and the family size of the client. Three, psychological it centers on lifestyle. Organizations using this method may center on socioeconomic class of customers such as low income. Four, behavioral it divides clients based on their buying decisions.
Normally an organization segments clients like this for targeted selling campaigns. Marketers are concerned about clients attitudes and feelings because this feature best shows whether the customer is satisfied and happy with the products and services. Culture is the attitude, acts, traditions of a particular people, group, position or time. It is the fundamental cause of desires and actions. As children grow up, they learn important values, wants and observations from the family. AIO might affect marketing behavior because; a persons consistently desirable or undesirable feelings toward a product or service have an impact on the need to purchase the goods (Luther, 2001).
Positioning is a selling strategy that aspires to make a product occupy a different position, virtual to rival brands in the mind of the client. It is called the battle of the mind since once a product is made it is hard to relocate it without demolishing its credibility. Alien ware (Dell) is my loyal brand I am loyal to the brand because its core contribution is attractive to my needs. The product also satisfies my wants for the brand, and it is relatively available in the market.
Customers loyalty may change when the brand can no longer satisfy their needs, when the brand is not available and when its demographic changes. Based on the results of VALSTM survey my primary VALSTM type is Experiencer while the secondary VALS type is Innovator. References Blythe, J. (2006). Marketing. London: SAGE Publications. Cherington, P. T. (2004). The Elements of Marketing. New York: The Macmillan Company. Luther, W. M. (2001). The Marketing Plan How to prepare and Implement it (3rd ed. ). New York: AMACOM. Pride, W. M.
& Ferrell, O. C. (2008). Marketing (14th ed. ). Boston: Houghton Mifflin Co.