Topics: Marketing, Target market, Advertising Pages: 7 (1954 words) Published: May 2, 2013
Individual Student Record of Grading Outcomes
(To be completed by student while submitting the assessment and by the faculty when reporting the outcome of the students work) SECTION A: TO BE FILLED BY THE STUDENT
Student Name: Devina |
Unit Name : Marketing Principles Term: April- June 2013| Assignment Title : Understand the concept and process of marketing| Due Date: 28/04/2013 Date Submitted : (if different)|

Student Declaration: By submitting the assessment electronically or in print, I confirm that this is my own work and that I have not plagiarised any part of it. I have also noted the assessment criteria and pass mark. I declare that the work I am submitting for assessment contains no sections copied in whole or in part from any other sources, unless it is explicitly identified by means of quotation mark or in case of very long quotations, by means of wholly indented paragraphs. SECTION B: TO BE FILLED BY THE FACULTY MEMBER

Learning Outcome| Evidence for the criteria| Tasks| Met the criteria?| Feedback| M| D| LO1 Understand the concept and process of marketing| 1.1 explain the various elements of the marketing process| Q 1 | Yes /No| | | | | 1.2 evaluate the benefits and costs of a marketing orientation for a selected organisation| Q 2 and Q 3 | Yes /No| | | |

( )Distinction | ( )Merit | ( )Pass | ( )Repeat |

Assessors Additional General feedback and comments:|
Assessors Name: Hamid Khan | Date Issued : |

The concept and process of marketing

* What is marketing?

Marketing as defined as "the total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling."

Marketing is all activities conducted to prepare for sales. Sales are all activities required to close the deal. Shipping and customer satisfaction would be included in sales to avoid the customer from reversing or unclosing the deal.

Thus Marketing can be categorized as a branch of business as well as a social science. We buy goods (thus becoming the buyer/consumer) from a vendor (or producer/seller), creating a transaction. In the past, marketing involved traveling salesmen, while in modern times, marketing is more likely to involve television, the internet, and other forms of media bombardment.

What is marketing?

Marketing seeks to satisfy the needs of people through the exchange process. Marketing refers to channeling the gap between service and product providers to service and product seekers.

The Marketing Mix or the "4 P's" are:

* Product
* Price
* Promotion
* Place

The concept of "4 p’s" is replaced by the concept of "7 p's" they are

* product
* price
* place
* promotion
* people
* positioning
* packaging
These are employed to satisfy a target market' or target demographic.


Product: Procter and Gamble introduces new toothpaste designed to taste good and fight cavities. Logo and packaging designed in bright colors to appeal to kids of elementary school age to encourage more tooth brushing.

Price: 2.00, and discounted by means of coupons

Promotion: television and radio commercials, magazine and newspaper ads, and a website; these use bright colors and happy music, perhaps an animated cartoon character for a fun and family-friendly attitude

Place (or distribution): Supermarkets, drugstores, discount stores such as Wal-Mart

Target demographic: Mothers with kids who make toothpaste buying decisions for the family (advertising could be shown on children's programming, prompting kids to ask parents to buy the toothpaste)

The Marketing Process

In order to succeed in pursuing the marketing concept, firms need not only to...
Continue Reading

Please join StudyMode to read the full document

Become a StudyMode Member

Sign Up - It's Free