Nowadays marketing take place a huge role in the competitive business world. The main objective of marketing is to increase company's sales. So if the company's sales is increased, there is a great chance to maximize company's profit. In other word marketing is helping the company to maximize their profit. Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. [Solomon et al (2011),p.7] The American Marketing Association defines marketing as "an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. The term developed from an original meaning which referred literally to going to a market to buy or sell goods or services. Seen from a systems point of view, sales process engineering marketing is "a set of processes that are interconnected and interdependent with other functions, whose methods can be improved using a variety of relatively new approaches." [Retrieved from http://en.wikipedia.org/wiki/Marketing#Further_definitions]
1. Solomon, Hughes, Chitty, Fripp, Marshall, Stuart (2011) "Marketing 2" 2nd ed. Pearson Education Australia, Sydney, NSW 2086. 2. http://en.wikipedia.org/wiki/Marketing#Further_definitions
Chapter 1: Welcome to the World of Marketing: Creating and Delivering Value
The best way to present a good or service for consumers' consideration, marketers have to make many decision and that's why they need many tools, this strategic toolbox is called the marketing mix. The marketing mix is a combination of the four Ps- product, price, promotion and place. [Solomon et al (2011),p.21 & 22] In my own experience as a consumer, every company must need to use the marketing mix. For example, if we think about Vodafone Australia, what kind of product we are getting from them? Is it core, actual or augmented? The answer is: it's a augmented product, because Vodafone giving us the actual product plus other supporting features such as warranty and after-sales service.
Then if we think about the price: are they giving us the best price compare to their services and other competitors in the market? Because most consumers use price as a way of judging product quality. [Solomon et al (2011),p.22]
In the promotional mix we can look at how they are performing in their personal selling, advertising, sales promotion and so on. [Solomon et al (2011),p.23] From my own experience, I have took one of the promotional offer from Vodafone. The offer was they were giving $59 plan at a cost of $49.
Place refers the product availability to the customer at the desired time and location. [Solomon et al (2011),p.23] In my point of view, Vodafone is doing this very well, because they had a large number of store in all around Australia and we can buy any product easily in online as well.
3. Solomon, Hughes, Chitty, Fripp, Marshall, Stuart (2011) "Marketing 2" 2nd ed. Pearson Education Australia, Sydney, NSW 2086.
Chapter 2: Strategic Planning and the Marketing Environment: The Advantage is undeniable
In this competitive business world marketing environment is one of the most important element which helps the organization to make a strategic planning. This includes internal and external environment. The internal environment includes culture, people, facilities and technologies, which is controllable elements inside an organisation. On the other hand external environment includes political, socio-cultural, economical and technological elements. [Lecture Slide-2] As a consumer if I think about Apple products and I compare Australia with a third world country like my country Bangladesh then it would be one of the perfect example how the internal and...
References: Text Book:
1. Solomon, Hughes, Chitty, Fripp, Marshall, Stuart (2011) "Marketing 2" 2nd ed. Pearson Education Australia, Sydney, NSW 2086.
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