Marketing Concept Importance - Essay Example

Marketing concept Marketing is comprised of both personal and managerial actions that assist and accelerate rewarding exchange relations in a dynamic environment through the manufacturing, allocation, promotion and cost of goods and services and thoughts to the targeted consumer (Kotler & Armstrong, 1999). There exist certain principles of marketing that are to satisfy the consumer, target the right customers, assist in exchange relationships, always be ahead of the competitors and to augment the productivity of the organisation. The definitive goal of marketing is to please target customers, seek the customer’s devotion and expenditure factor. In respect to this the consumer ought to be pleased with the goods or services offered to him while the seller must also be pleased with the cost paid for the service or goods that he has offered or sold. Marketing concept is painstakingly a simple and instinctively attractive viewpoint. Marketing concept is a viewpoint which grasps that foe the main organizational goals to be achieved an organisation ought to be smarter than the competitors in amalgamating marketing activities aimed at influencing and meeting the needs and wants of target markets (Kotler & Armstrong, 1999). In essence the marketing concept mostly engrosses majoring on the consumers wants prior to development of the product, lining up the organisations functions to the wants and generating a profit by meeting the consumer’s wants over a long term. Consequently the marketing concept relies on four major pillars that are the customer needs, profitability, target market and integrated marketing. The marketing concept greatly relies upon market research to describe market segments, size, and wants. To fulfill the wants the marketing team is charged with the task of making decisions on the convenient factors of the marketing mix. Importance of marketing concept to managers Managers tend to play a major role in the organisation in that through their dedicated and devoted leadership and the informed decisions they make the organisation is able to make progress that is generally in terms of the company’s growth and profits generated. Marketing concept has over time proved to be of great importance to the managers in most organisations and most of them now prefer the applying the marketing concept as compared to other older aspects which were been applied which encompassed of aspects such as production and sales concept. One of the most important relevance of the marketing concept to managers is that it helps them in ensuring that the customer’s wants are taken care of in a better and more sophisticated way and by so doing a greater number of sales are made which later contributes to the organisation generating profit. Also when mangers applies the marketing concept in their organisations, customers will tend to prefer a company product more than the competitors products that means that a higher number of customers will tend to purchase the company’s products more than those of the competitors. Also by the application of the marketing concept a manger is able to spot areas where upgrading is required in the marketing of the product so as to retain and attract new customers in the organisation. This will ensure that the company meets the customer’s preferences, tastes and lifestyle. This will in turn lead to the company gaining a larger market share as compared to the competitors in the same market and industry. Marketing concept is also important to the managers in that with a greater number of satisfied customers, the satisfied customers tend to act as advocates for the company’s product and they will tend to encourage others to use the company products hence a greater number of sales will be made thus generating a greater level of income and profit for the company. By the application of the marketing concept managers will be able to filter marketing communication into the business thus attracting a greater number of customers into the organisation. With the application of the marketing concept, the customers will be able to make more buying decision, hence more sales for the organisation which will ultimately lead to the growth and expansion of the business. SWOT analysis of software to manage conflict in Etihad airways The swot analysis of a software product is fundamental and it aids in establishing the developmental stages of the software, the functions it will provide and the market strategy to be applied. The software will be implemented in Etihad air ways in the IT department and it will solely be used to reduce conflict in the system. The software to be implemented in Etihad airways is WinAir which is usually termed as the most cost effective software product, easy to use, structurally incorporated continuance and record control software and it is mostly applied in the aviation industry. It is generally termed as aviation continuance and record control software that slots in a variety of procedures such as complicated purchasing, record control, manufacturing, continuance forecasting, price accounting and invoicing processes. There are also other additional components such as real time labor management, reliability, bar coding that are integrated in the software package to allow for growth and expansion of the software based on ones individual needs thus making the software more efficient and effective to use for both small and large companies in the aviation industry. Below is the SWOT analysis of WinAir software which will be implemented in Etihad air ways to reduce conflict in the system. The strengths section of a SWOT analysis of software typically deals with several issues which are: what is offered by the software package in terms of functionality is the software easy to use and its significance? This section also addresses the question of if the software is user friendly? The software’s competitive advantage? The target market? Innovativeness of the software? The weaknesses section covers disappointments related to the software. Weaknesses are usually measured in terms of the cost of manufacturing the software and its marketability. Other aspect which is evaluated in this section is the amount of time consumed in the development of the software. Another aspect that is considered is that is the system requirements and also the reputation of the company developing the software. The other part of the SWOT analysis is the opportunities section. Under this section one mostly majors on the exterior factors that are may have an effect on the software. One important area to look at is the technological development and innovation. Another aspect under this category is the accessibility of target market that the company can sell its products. The last section in the SWOT analysis is the threats section. It mostly covers external aspects that may hinder the development or marketability of the software. The threats can be either classified as, social political, environmental or legislative. Other threats include demand of the software and it can unfavorably menace the success of the software, another common thereat to most software’s is the lack of financial backing. The table below shows a summarized SWOT analysis of WinAir aviation software. Strengths Cost efficient Wide range of functionality Reliable Handles a large number of aircrafts and work stations Has enhanced purchasing capabilities Good reputation of the company developing the software Robust and expandable Weaknesses Requires experienced staff High cost of development Requires more time to develop the software Opportunities Technological development and innovation Availability of niche target markets to market the software Threats Attack by Trojans, logic bombs, worms and viruses Low level of financial backing Marketing mix Marketing mix is an expansive idea which comprises of numerous features of marketing which involves generating awareness of the product and customer dependability. The marketing mix is more often than not summed up as the four p’s that is placement, price, product and promotion. In instances where the four p’s are merged effectively, they eventually form a marketing plan that offers wants-satisfying goods and services for the company’s market. The marketing mix is frequently applied to help in making a decision on how to initiate a new product in the market. The new software to be implemented in Etihad airways will posses the four elements of the marketing mix that is people, placement, promotion and product. Below is a brief discussion of the four elements that the software that is WinAir will posse. The first element is placement. It typically refers a means of taking the product to consumer and or how simple it will be for the consumers to access it. The software will be sold at local software retail shops so as to make it more accessible to the likely customers of the product. The other element is the product. In essence it can be termed as the physical good or an insubstantial service that is manufactured on a large scale basis with specific volume of units. The software that will be implemented is generally categorized as a code based product. The software will be subject to a product lifecycle which h will encompass the growth phase which is ultimately pursued by an ultimate phase of decline as the product nears market dissemination. For the software to retain its competiveness in the market the software ought to be differentiated from the other software’s in the market and the product differentiation will be used so as to differentiate the company’s software’s from those of its competitors. The other element is the price which is mostly referred to as the amount of money that the customer pays for the product or the service offered to him by the buyer or the service provider. Most organisations will either charge a higher cost or a lower cost based on the availability of the product in other stores. The software will be priced in such a way that it will be proportional with the services that the software is offering to the consumers. Thus the software will be sold at a higher cost since it has a wide range of uses which are incorporated in the software. The last element in the marketing mix is promotion. Promotion mostly symbolizes all the communication that will be used by the marketer to create awareness of the product to the consumers. In essence promotion has four discrete fundamentals which are: public relations, advertising, sales promotion and personal selling. Markets who apply all the four fundamental elements of promotion tend to achieve grater number of customers. The software will use some of the four fundamental elements of promotion to generate attentiveness and market the software to the target and prospective customers. For example advertising will be applied. Advertising mostly involves all forms of communication that is paid for example adverts through print media and billboards and the internet. The internet will be the most common advertising media to be used in advertising the software to the consumers. Sales promotion will also be applied; it includes several communication actions that will try to offer some added value or inducements to wholesalers, organizations, consumers and retailers in the aim of stimulating instant sales of the product. In this case the main aim of the sales promotion is to arouse the product interest, track or purchase of the software (Stanton, 1997). Conclusion Marketing concept has over time proved to be the most effective and efficient concept and most companies are applying it as compared to the other marketing concepts (Kotler, 1997). The software that is WinAir which will be implemented in the IT department will aid Etihad airways in reducing conflict in the system. The four elements of the marketing mix which will of the software to be implemented in Etihad airways will encompass people, placement, price and promotion. This will ensure that there is a greater number of sales of the software since consumers will be made aware of its through promotions, the software will be in the retail shops, the price to be charged will be based on the level of services to be provided by the software and lastly there will be consumers who are the users of the software. References Kotler, P & Armstrong, G. (1999). Principles of marketing. New Jersey: Prentice Hall. Kotler, P. (1997). Marketing Management. New Jersey: Prentice Hall. Stanton, W. (1997). Fundamentals of Marketing. New York: McGraw Hill. Read More