Alliance Boots Marketing 1st Year
Assignment One
Learning Outcomes 1 & 2
08/10/2012 - 05/11/2012
Task 1 (L.O.1.1)
What is the Marketing Process?
There are many different definitions of the Marketing Process, here are just two of them. i) “Marketing is the social process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.” (Kotler and Armstrong 2010)
This basic definition of marketing explains how societies and organisation interact, where an organisation fulfils the wants or needs of individuals. In return, the organisation hopes to make a profit.
ii) “Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organisational goals” (Marketing Principles, BPP Learning Media,2010 pg.6)
This definition looks at marketing more from the view of an organisation. It takes into account a lot more factors, such as the marketing mix, and looks at marketing as something that has to be done in order to achieve their goal, ie. Profits.
The marketing mix is essential for an organisation to establish both its target market and unique selling point, it uses the 4 P’s to help find these. The four P’s are the idea of modern marketing theorists and they cover the ways that an organisation can influence consumers to buy their particular brand. The Four P’s are Product, Price, Place, and Promotion.
Product:
A product is anything that can be offered to the marketplace for consumption that will satisfy a need or want. It is not just something physical (tangible), it can also be a service provided e.g. cleaners, psychics etc., where, once the transaction is finished the consumer does not have anything to show for the money spent. These are non-tangible goods.
The packaging of a product is important, not only as protection, but for communication (how to use a product), to remind consumers of the
Learning Outcomes 1 & 2
08/10/2012 - 05/11/2012
Task 1 (L.O.1.1)
What is the Marketing Process?
There are many different definitions of the Marketing Process, here are just two of them. i) “Marketing is the social process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.” (Kotler and Armstrong 2010)
This basic definition of marketing explains how societies and organisation interact, where an organisation fulfils the wants or needs of individuals. In return, the organisation hopes to make a profit.
ii) “Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organisational goals” (Marketing Principles, BPP Learning Media,2010 pg.6)
This definition looks at marketing more from the view of an organisation. It takes into account a lot more factors, such as the marketing mix, and looks at marketing as something that has to be done in order to achieve their goal, ie. Profits.
The marketing mix is essential for an organisation to establish both its target market and unique selling point, it uses the 4 P’s to help find these. The four P’s are the idea of modern marketing theorists and they cover the ways that an organisation can influence consumers to buy their particular brand. The Four P’s are Product, Price, Place, and Promotion.
Product:
A product is anything that can be offered to the marketplace for consumption that will satisfy a need or want. It is not just something physical (tangible), it can also be a service provided e.g. cleaners, psychics etc., where, once the transaction is finished the consumer does not have anything to show for the money spent. These are non-tangible goods.
The packaging of a product is important, not only as protection, but for communication (how to use a product), to remind consumers of the