Marketing Princliples :
Word Count : 6138.
1, What is marketing principles –Definition and concept.
2. Marketing Strategy- Definition and importance.
3. Marketing Plan and it’s contents.
4. Example of writing marketing report. ( NIVEA FOR MEN )
5.Five years planning – Explanation and it’s components.
5. Sample five years strategic marketing report. ( imaginary company- Global Tourism (UK)Ltd.)
6. Marketing orientation- definition. Advantage and disadvantage.
7. Example of a market orientated company & it’s financial and strategic cost analysis.
8. Conclusion and outcomes of the assignment .
9. References. ( Books and online resources.)
Marketing Principles- Marketing Principles are the combination of Marketing strategies and the need of the customers. Marketing principles form the widely agreed upon basis of most product promotion strategies. Most businesses use a variety of marketing principles in order to optimize the market performance of existing products and to successfully launch products into a new market where there is customers need for these products.
Marketing Principles study contains-
• Marketing research. (External and internal forces )
• Managing Customers and study their buying behaviour.
• Promotion of the product and Pricing.
• Marketing Management ( That includes Marketing strategy, Marketing mix, SWOT analysis ).
Before we start discussing marketing principles, we have to know What exactly Marketing is.
Definition of Marketing :
Marketing is defined as the process of determining the needs and wants of consumers and being able to deliver products that satisfy those needs and wants. Marketing includes all of the activities necessary to move a product from the producer to the consumer. Think of marketing as a bridge from the producer to the consumer.
Marketing starts with market research, a learning process in which marketers get to know everything they can about the needs and wants of consumers, and it ends when somebody buys something. Many companies feel that services provided to customers after the purchase also are an important part of marketing. All of these enterprises -- production, advertising, transportation, processing, packaging, and selling -- are included in the marketing process. In order for the marketing bridge to work correctly -- providing consumers with opportunities to purchase the products and services they need -- the marketing process must accomplish nine important functions. The functions are:
Buying - people have the opportunity to buy products that they want. Selling - producers function within a free market to sell products to consumers. Financing - banks and other financial institutions provide money for the production and marketing of products.
Storage - products must be stored and protected until they are needed. This function is especially important for perishable products such as fruits and vegetables. Transportation -products must be physically relocated to the locations where consumers can buy them. This is a very important function. Transportation includes rail road, ship, airplane, truck, and telecommunications for non-tangible products such as market information.
Processing - processing involves turning a raw product, like wheat, into something The consumer can use -- for example, bread.
Risk-Taking - insurance companies provide coverage to protect producers and marketers from loss due to fire, theft, or natural disasters. Market Information - information from around the world about market conditions, weather, price movements, and political changes, can affect the marketing process. Market information is provided by all forms of telecommunication, such as television, the internet, and phone.
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