Marketing Principles
Learner’s name and statement of authenticity
Learner’s Name: Learner’s ID: 150 Date Handed-in: / /
I certify that the work submitted for this assignment is my own. Where the work of others has been used to support my work then credit has been acknowledged.
Signature: _______________ Date: / /
Marketing Assignment Task 1.
Ac 1.1. Explain the various elements of the marketing process (1) Provide at least two definitions of marketing and explain in your own words
Marketing:
a; Marketing includes research, targeting, communications (advertising and direct mails) and public relations. It is the process by which a firm profitably translates costumers needs into revenue. b; Marketing is helping people buy your product or service. It is defined as we help people sell more stuff.
(2) Define customer’s needs and wants.
Needs: is something that you have to have to get by in this world; a necessity. In your personal life, you need food, shelter, clothing, medical care -- the basics. You will probably experience physical suffering of some sort if you don't have your needs met. In your business, you also have some basic needs -- business cards, basic office equipment and supplies, a scheduling and follow up system, involvement in some networking activities, and generally some professional development or continuing education for your field.
Wants: is something that you desire, something you would like to have. "Wants" quite often fall into the category of luxuries, nice to have, but the world won't end without them.
Marketing merely reflects societal needs and wants. With the advent of the Internet, consumers have greater freedom of choice and more evaluative criteria than every before. Consumers can and do make more informed decisions than previous generations.
(3) a; Customer’s value: is the customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to
Learner’s Name: Learner’s ID: 150 Date Handed-in: / /
I certify that the work submitted for this assignment is my own. Where the work of others has been used to support my work then credit has been acknowledged.
Signature: _______________ Date: / /
Marketing Assignment Task 1.
Ac 1.1. Explain the various elements of the marketing process (1) Provide at least two definitions of marketing and explain in your own words
Marketing:
a; Marketing includes research, targeting, communications (advertising and direct mails) and public relations. It is the process by which a firm profitably translates costumers needs into revenue. b; Marketing is helping people buy your product or service. It is defined as we help people sell more stuff.
(2) Define customer’s needs and wants.
Needs: is something that you have to have to get by in this world; a necessity. In your personal life, you need food, shelter, clothing, medical care -- the basics. You will probably experience physical suffering of some sort if you don't have your needs met. In your business, you also have some basic needs -- business cards, basic office equipment and supplies, a scheduling and follow up system, involvement in some networking activities, and generally some professional development or continuing education for your field.
Wants: is something that you desire, something you would like to have. "Wants" quite often fall into the category of luxuries, nice to have, but the world won't end without them.
Marketing merely reflects societal needs and wants. With the advent of the Internet, consumers have greater freedom of choice and more evaluative criteria than every before. Consumers can and do make more informed decisions than previous generations.
(3) a; Customer’s value: is the customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to