essay on marketing activities

Essay on Marketing

Students are often asked to write an essay on Marketing in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Marketing

The world of marketing.

Marketing is about spreading the word on products and services. It helps companies connect with customers.

Understanding Customers

Creating products.

Using customer insights, businesses develop products that solve problems or bring joy.

Communication is Key

Marketing involves telling people about products through ads, social media, and more. Clear communication is crucial.

Building Brands

Adapting and growing.

Marketing strategies change based on feedback. Companies adapt to stay relevant and successful.

Marketing is like sharing stories that connect what people need with what companies offer. It’s an exciting way to make products part of our lives.

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250 Words Essay on Marketing

Understanding the power of marketing.

Marketing: a concept that shapes the modern world. It’s more than just ads and promotions; it’s the engine driving business success. Let’s explore its significance.

The Essence of Marketing

Segmentation and targeting.

Not everyone is interested in the same thing. That’s where segmentation comes in. It divides the vast market into smaller groups with similar traits. Then comes targeting – aiming your efforts at those segments most likely to respond positively.

Value Creation through Branding

Branding isn’t just a logo; it’s the emotions and perceptions associated with a product. Strong brands build trust and loyalty, allowing companies to command premium prices.

The Digital Revolution

The digital age has revolutionized marketing. Social media, search engines, and online ads allow for precision targeting and personalized communication. It’s not about bombarding, but about engaging.

Content is King

Analyzing and adapting.

Marketing isn’t a one-shot deal. It’s a constant process of analyzing results and adapting strategies. Tools like analytics help track what works and what doesn’t, leading to informed decisions.

Ethics in Marketing

The bottom line.

In a nutshell, marketing is the bridge that connects what you offer with those who need it. It’s not just about selling but about creating lasting value. Understanding its principles can propel businesses toward success in the modern world.

500 Words Essay on Marketing

Marketing: connecting the dots for successful business.

Marketing is like a magical thread that weaves businesses and customers together, creating a world where products and services find their perfect match. In this modern age, new-age techniques like Virtual and Augmented Reality (VR/AR), Chatbots and Conversational Marketing, Programmatic SEO , Social Commerce, and Neuromarketing have added exciting dimensions to this field. Let’s delve into the basics of marketing and explore how these techniques have transformed the way businesses reach out to us.

Imagine you’ve baked the most delicious cookies in town. You want everyone to know how tasty they are. That’s where marketing comes into play. Marketing involves all the activities that help you promote and sell your products or services. It’s about understanding what people want, creating something they’ll love, and then letting them know it exists.

Meeting New Friends: Customers and Businesses

In the world of marketing, two important players dance together: customers and businesses. Customers are people like you and me who need things. Businesses are the ones that make those things. Marketing helps these two groups find each other.

Traditional vs. Modern Marketing

Getting found: seo.

Think about searching for something online. How often do you go past the first page of search results? That’s why businesses use SEO. It’s like making sure your cookie recipe appears at the top when someone searches for “delicious cookies.” This technique helps businesses get noticed by improving their online visibility.

Understanding Your Brain: Neuromarketing

Ever wondered why some ads just stick in your head? Neuromarketing dives into how our brains respond to ads. Businesses use this technique to create ads that connect with us on a deeper level. It’s like making sure your cookie commercial triggers happy thoughts every time you see it.

Chatting with Businesses: Conversational Marketing

Have you ever had a chat with a robot on a website? That’s Conversational Marketing. Businesses use chatbots to talk to us, answer our questions, and even help us choose the right products. It’s like having a helpful assistant while shopping.

Shopping in Your Pajamas: Social Commerce

Putting it all together.

Marketing is like a puzzle where every piece matters. Businesses create amazing products, use modern techniques like VR/AR, Chatbots, Programmatic SEO, Social Commerce, and Neuromarketing to make us notice them, understand us better, and make shopping a breeze.

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Marketing Activities Essays

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Marketing - Free Essay Samples And Topic Ideas

Analysis of marketing mix strategies for wal-mart stores company.

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Supreme and Apple Marketing Strategy

Supreme Companies such as Supreme and Apple have proven to be superior in their industries when selling luxury brands to a younger demographic. Supreme started off as a small, high-quality clothing shop in downtown Manhattan in 1994 that focused on catering towards skateboarders. With a lack of advertisement to draw in the public’s attention, Supreme relied on word of mouth and foot traffic. Those who knew about the business in its early days, mainly consisted of an elite group of artists, […]

Apple Company Business Background

Steve Jobs and Steve Wozniak founded Apple Computers, Inc. on April 1, 1976. They conveyed to the new organization a dream of changing the manner in which individuals saw PCs. Jobs and Wozniak needed to make PCs little enough for individuals to have them in their homes or workplaces. They dreamt of a user friendly and convenient computer. Wozniak left Apple in 1983 because of a reducing enthusiasm for the everyday running of Apple Computers. Jobs at that point contracted […]

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The Disney Marketing Machine

Since the first Star Wars film came out in 1977, box office revenues have totaled roughly $6.84 billion. However, the total franchise revenue is estimated to be $30.54 billion (Kalb). As shown through these statistics, the branding of Star Wars and the use of product placement, merchandise, and licensing opportunities that followed the film are what truly brought in the big bucks. Disney bought the Star Wars franchise from Lucasfilm in 2012 for $4 Billion, and it has proved to […]

Soaring High: an In-Depth Look at Emirates Airline’s Skywards Marketing Program

Emirates Airline has been a leader in changing the way people move by air. It is known around the world for its high-end products and excellent customer service. An important part of its success comes from the creative ways it markets itself, especially the Skywards program. This essay goes into detail about the Emirates Skywards program and how it has helped shape customer experience and trust. It also looks at how it has affected the airline's brand and place in […]

Running Head: CVS SWOT Analysis

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Unlocking the Marketing Magic of Hilton Hotel Chains

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Speech on Digital Marketing Landscape: Insights from Digital Marketers in Dublin

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Coca Cola Financial Analysis Essay

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Adidas Target Market and Marketing Strategies: Navigating Challenges

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103 Digital Marketing Essay Topic Ideas & Examples

Inside This Article

Digital marketing is a constantly evolving field that requires creativity, strategic thinking, and a deep understanding of consumer behavior. With the rise of social media, online advertising, and search engine optimization, businesses are constantly looking for ways to stand out in the digital landscape.

If you're a student or professional looking for inspiration for your next digital marketing essay, look no further. Here are 103 digital marketing essay topic ideas and examples to help you get started:

• The impact of social media influencers on consumer behavior
• The role of storytelling in digital marketing campaigns
• The rise of video marketing in the digital age
• The importance of personalization in email marketing
• The future of artificial intelligence in digital marketing
• The effectiveness of influencer marketing compared to traditional advertising
• The impact of user-generated content on brand perception
• The role of data analytics in digital marketing strategies
• The benefits of content marketing for small businesses
• The ethics of targeted advertising on social media platforms
• The effectiveness of mobile marketing in reaching younger audiences
• The role of virtual reality in immersive marketing experiences
• The impact of voice search on SEO strategies
• The importance of social listening in digital marketing campaigns
• The benefits of using chatbots for customer service in digital marketing
• The role of gamification in engaging consumers in digital marketing campaigns
• The impact of influencer marketing on brand loyalty
• The effectiveness of email marketing in driving conversions
• The role of social media advertising in reaching new audiences
• The benefits of using data-driven insights to optimize digital marketing campaigns
• The impact of video content on social media engagement
• The effectiveness of using memes in digital marketing campaigns
• The role of virtual events in digital marketing strategies
• The benefits of using interactive content in email marketing campaigns
• The ethics of data collection in digital marketing campaigns
• The impact of social media algorithms on organic reach
• The role of artificial intelligence in personalized marketing experiences
• The effectiveness of using user-generated content in social media campaigns
• The benefits of using influencers for brand collaborations
• The impact of visual storytelling in digital marketing campaigns
• The role of customer reviews in building trust with consumers
• The effectiveness of using social proof in digital marketing strategies
• The benefits of using micro-influencers for niche marketing campaigns
• The impact of social media contests on brand awareness
• The role of brand partnerships in reaching new audiences
• The effectiveness of using retargeting ads in digital marketing campaigns
• The benefits of using interactive quizzes in email marketing
• The impact of personalized recommendations on e-commerce sales
• The role of user-generated content in building community around a brand
• The effectiveness of using augmented reality in digital marketing campaigns
• The benefits of using social media listening tools to track brand sentiment
• The impact of social media influencers on brand perception
• The role of storytelling in building emotional connections with consumers
• The effectiveness of using social media polls to engage audiences
• The benefits of using user-generated content in social media campaigns
• The impact of influencer marketing on brand authenticity
• The role of customer journey mapping in optimizing digital marketing strategies
• The effectiveness of using chatbots for customer service in e-commerce
• The benefits of using social media ads to drive traffic to a website
• The impact of using personalized landing pages in email marketing campaigns
• The role of social media influencers in promoting sustainability initiatives
• The effectiveness of using social media analytics to track campaign performance
• The benefits of using video testimonials in digital marketing campaigns
• The role of data visualization in presenting marketing insights
• The effectiveness of using social media contests to engage audiences
• The benefits of using storytelling to humanize a brand
• The impact of using emojis in social media marketing campaigns
• The role of influencer marketing in promoting diversity and inclusion
• The effectiveness of using social listening tools to track brand sentiment
• The benefits of using user-generated content to build brand advocacy
• The impact of social media influencers on consumer trust
• The role of customer reviews in building credibility for a brand
• The effectiveness of using personalized email campaigns to drive conversions
• The benefits of using interactive content to educate consumers about a product
• The impact of social media influencers on brand loyalty
• The role of data analytics in optimizing digital marketing campaigns
• The effectiveness of using social proof in e-commerce sales
• The benefits of using chatbots for lead generation
• The role of influencer marketing in promoting social causes

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Essay on Marketing: Top 5 Essays on Marketing | Management

In this essay we will discuss about ‘Marketing’. Find paragraphs, long and short essays on ‘Marketing’ especially written for college students.

Essay on Marketing

Essay Contents:

• Essay on the Process of Marketing

1. Essay on the Definitions of Marketing:

The term ‘marketing’ has been defined in various ways by different authors.

ADVERTISEMENTS:

Some of them are given below:

1. “Marketing is a total system of interacting business activities designed to plan, price, promote and distribute want satisfying products and services to the present and potential customers”– W.J. Stanton.

2. “Marketing is the primary management function which organises and directs the aggregate of business activities involved in converting the customers’’ purchasing power into effective demand for a specific product or service and in moving the product or service to the final consumer or user so as to achieve the company’s profit and other objectives”— Leslie Rodger.

3. “Marketing is the creative management function which promotes trade and employment by assessing consumer needs and initiating research and development to meet than. It co-ordinates the resources of production and distribution of goods and services, and determines and directs the nature and scale of the total efforts required to sale maximum production to the ultimate user”- U.K. Institute of Marketing.

4. “Marketing is the process of determining consumer demand for a product or service, motivating its sales, and distributing it into ulti­mate consumption at a profit”- E.F.L. Brech.

The above definitions refer to the modern concepts of marketing func­tion as against the traditional definition by F.E. Clark who defines the term as :

“marketing consists of those efforts which effect transfers in ownership of goods and care for their physical distribution.”

Thus, we can state that marketing is the process by which the products are made available to the ultimate consumer from their point of origin. It consists of all those activities which are meant to ensure the flow of goods and services from the producer to the consumer. In economic terms, marketing covers those activities which relate to the creation of time, place, and possession utilities. Marketing, therefore, is nothing but per­formance of business activities that direct the flow of goods and services from producer to the consumer.

2. Essay on the Concepts of Marketing:

Elements of Marketing Concept :

A company adopting the marketing concept has three distinguishing elements around its marketing function:

1. It has consumer-orientation in its business planning and activities.

2. It focuses its attention to corporate objectives, including profit. Corporate objectives are given top preference and departmental goals act as the means to achieve corporate goals.

3. It adopts the systems approach in planning, organising, controlling and coordinating its entire business as one system to achieve the overall corporate objectives. We have integrated corporate strategic plans as well as corporate operating plans.

Then there are departmental or functional plans such as production plan, financial plan, marketing plan, etc., and these are duly co-ordinated and integrated by top management. Thus, we have integrated marketing activities throughout the firm.

Customer-orientation, profitable sales volume and integrated marketing activities are the three pillars of the marketing concept. Under the marketing concept, i.e., customer-oriented marketing activities, it is clear that supply becomes the function of demand. Demand is the central controlling factor, and marketing management essentially becomes demand management.

Benefits of Marketing Concept :

Benefits of new market-oriented business approach are:

(1) Customer needs, wants and desires receive top consideration in all business activities.

(2) Greater attention is given to the product planning and development so that the merchandising can become more effective.

(3) Demand side of the equation of exchange is honoured more and supply is adjusted to changing demand. Hence, more emphasis is given to research and innovation.

(4) Marketing system based on the marketing concept assures integrated view of business operations and indicates interdependence of different departments of a business organisation.

(5) Interests of the enterprise and society can be harmonized as profit through service is emphasized.

(6) Marketing research is now an integral part of marketing process and it is a managerial tool in decision making in the field of marketing.

Selling Concept v/s Marketing Concept

The following are the prominent differences between selling concept and marketing concept:

(1) Selling focuses on seller’s needs, marketing on buyer’s needs.

(2) Selling is preoccupied with seller’s need to convert product into cash; marketing with the idea of satisfying the customer’s needs by means of the product and many things associated with creating, delivering and finally consuming it.

(3) Selling aims at profit through sales volume, i.e., more sales, more profit, marketing aims at profit through serving customer needs or demand.

1. Product enjoys the supreme importance.

2. Emphasis on corporate needs.

3. Company-oriented selling efforts.

4. Goods are already produced. Then management wants to sell them at a profit.

5. Selling aims at short-term objectives.

6. Top priority is given to sales volume rather than profits-increasing sales, rising commission to salesman.

1. Customer enjoys the unique importance.

2. Emphasis is on market needs.

3. Market-oriented selling efforts.

4. Customer demand determines production; we have the problem of adapting supply to demand.

5. Marketing aims at long-term objectives

6. Top priority given to profitable volume of sales and market share at fair prices and reasonable risk.

The need for some selling is taken for granted under the selling concept. Under the marketing concept, the aim of marketing is to render selling unwanted, i.e., a product should sell itself without any promotion effort. Hence, under marketing concept (when a product clicks exactly with buyer’s needs and expectations) all means of promotion are expected to play normal role as modes of marketing communication only.

Traditional Concept of Marketing-

Marketing as a function occupies an important position in the organisation of a business firm.

About marketing, it is the traditional belief and view that:

(i) the efforts for the journey of goods from the producer to the ultimate consumers constitute marketing; and

(ii) the consumers will accept whatever goods the sellers present to them.

In this sense, F.E. Clark stated that marketing consists of those efforts which effect transfers in ownership of goods and care for their physical distribution. According to the traditional concept, marketing consists of the movement of goods from the manufacturers at a time when they are required, to the place where they are used, and for those who use or consume them for various purposes.

Modern Concept of Marketing-

The traditional concept of marketing explained above refers to the physical activities involved in the process of distribution of goods. But, its modern concept is more than a mere physical process. Previously market was considered to be a place where buyers and sellers would meet. But market does not necessarily mean a place.

According to Barwell, marketing consists of identifying, anticipating and satisfying customer needs and desires. To quote E.F.L. Brech, “marketing is the process of determining consumer demand for a product or service, motivating its sales, and distributing it into ultimate consumption at a profit”. According to Stanton, “marketing is the creation and delivery of a standard of living; it is finding out what customers want, then planning and developing a pro­duct or service that will satisfy those wants; and then determining the best way to price, promote and distribute that product or service.”

Peter Drucker observes emphatically that the purpose of business is to create a customer – by which he lays stress on two aspects:

(i) identification of consumer needs, and

(ii) organising the business to meet these needs. Marketing today, thus, involves conscious and organised efforts by a busi­ness firm to find out what the community needs and how best it can help the community derive the fullest satisfaction from the activities of the business. The modern concept, this way, focuses on the consumers and their satisfaction.

The business firm produces:

a.  the types of products which the consumers need,

b.  the quantities that the consumers require,

c.  the products at prices that the consumers will pay for the satis­faction offered to than,

d.  the products at the time when the consumers need them, and

e.  distributes in a manner through channels that suit the convenience of the consumers most.

That is why, the approach of modern marketing is consumer-oriented, instead of solely product-oriented.

The consumer-oriented approach of marketing brings out the following in particular:

(1) Marketing is a system of business activities;

(2) Marketing is an important managerial function;

(3) Marketing is the end-result of many other activities;

(4) Marketing is designed to plan, promote, distribute the product car service; and

(5) Marketing is the creation and delivery of a standard of living to the consumers and society.

Changed Concept of Marketing:

The concepts on marketing have undergone significant changes as we witness in the real world. Its approach was solely and exclusively product-oriented in the first-half of this cen­tury. Its approach thereafter became sales-oriented in the middle of this century and now it is consumer-oriented at the fag-end of this century.

Although we find that modern marketing is engrossed with the assessment of consumer needs and demands, it is yet to fulfill the consumers’ aspirations for quality and pricing of products and/or services. The twin aspects of quality and price, which are essential elements of a total marketing concept, are vital and necessary for the fullest satisfaction of consumers.

These are not being achieved on account of all normal inflationary factors and paucity of skilled labour force. But it is felt that the factors of high technology, rigid product-quality standards, and the future generation of skilled craftsmen and technicians having cost consciousness will greatly contribute to the attainment of consumer satisfaction with the advent of twenty-first century. This likelihood can be discerned from the government’s initiative and the efforts of professionals in this direction.

3. Essay on the Evolution Process of Marketing:

The evolution process may be charted as follows:

These are discussed below in brief:

(i) Barter System:

It may be regarded as the initial beginning of the concept and approach of marketing in the evolution process. Under this system, the goods are exchanged against goods without any other medium of exchange like money.

This system suffers from certain limitations or drawbacks, as follows:

(a) The method depends on one party to be able to satisfy another party’s wants which poses difficulties in most situations; and

(b) The method necessitates the determination of a rate of exchange which is difficult to arrive at in nest circumstances of the trade.

(ii) Production Orientation:

This approach was based on the assumption that whatever is produced wall be accepted by the customers or consumers. In other words, the producer’ instead of being concerned with the consumer preferences concentrates on the production of goods for the purpose of profit realisation. This approach was the outgrowth of the industrial revolution to produce goods on a mass scale in anticipa­tion of demand.

The drawbacks of this approach are:

(a) The interest of the consumer is virtually ignored to that of the producer;

(b) The marketing becomes either product-oriented or production- oriented;

(c) The stress is not on the consumption which is the ultimate objec­tive of industry and commerce; and

(d) The marketing process comes to an end as soon as the products reach the consumers.

(iii) Sales Orientation:

This approach, in the evolution of marke­ting, involves a deliberate orientation towards the promotion of sale. Various socio-economic factors, like shift from agriculture to industry, development of the means of transport and communications, better living standards of people, competition among the producers to reach out to consu­mers, etc., have given birth to this approach.

In a word, if puts emphasis only on the increase of sales turnover without any consideration of the production of the goods desired by the consumers. The selling activity becomes the dominant factor in the marketing of goods in an environment of competition. The major limitation of the system is that marketing becomes highly sales-oriented without any efforts for the satisfaction of the consu­mer needs.

(iv) Consumer/Customer Orientation:

This approach refers to the concept of marketing that is related to the needs of the buyers. Under the system, oily such products are brought forward in the market’ which are capable of satisfying the tastes, preferences, and expectations of the consumers, this stage, in the evolution process of marketing, ushered in a major breakthrough in the outlook of the producers towards marketing.

This stage or phenomenon is characterised by the following redeeming fea­tures:

(a) The production of goods far exceeds the demand;

(b) The increased awareness of the consumers drives than to shift from one product to another; and

(c) The producers realise the consumer demands and choices and there­by, are forced to adopt consumer-oriented approach to marketing so that they can survive in the market.

At this stage, the marketing management strives to organise the factors of production within the organisation keeping in view the factors of consumption outside.

This approach, thus, aims at consumer satisfaction by means of production of the right kind and quality of products, in the right quali­ties, at the right price and in the right market, the matching of products and services with the markets and consumers becomes the motto of the consumer-oriented approach to marketing.

(v) Management Orientation:

This approach or concept can be said to be a natural consequence of increasing attention to the consumer satisfaction. Marketing, under this concept, is connived of as a total management system of interacting business activities designed to plan, promote, and distribute want-satisfying products and services to the exis­ting and potential consumers.

In the present highly competitive and changing world, the marketing factor has become very crucial to all business planning and decision-making.

The marketing function has now come to be associated with various aspects like pricing, products, markets, market research and analysis, advertising and sales proration, field sales, distribution, orga­nisation and staffing, and coordination with the manufacturing and other operations.

In all these areas, the management has to develop and adopt procedures for planning, organising, directing, reviewing, controlling, etc. In other words, the management has to harmonise all these variable factors, in the context of the nature and size of business, to gain conti­nued acceptance of its products and services from the different classes of consumers and customers.

4. Essay on the Approaches to the Study of Marketing:

Among the various approaches to the study of marketing, the following approaches provide good guidance and assistance in understanding the marketing problems and solving them logically:

(i) Product Approach:

This approach to marketing is basically product or commodity-oriented. It takes into account the detailed system and sub-systems of the marketing effort and allied problems and constraints concerning a particular product. Here, the product features and characteris­tics in relation to the markets are carefully analysed to arrive at solu­tions of the constraints identified.

This approach is concerned with single- product strategies holding share in growth markets, increasing share in growth markets, and increasing share in mature markets. The life-cycle of the product is also subjected to severe examination from the technical and commercial aspects in case of products like television, radio, transis­tor, etc.

The approach does not take care of the less-profitable products which may have problems of the same type. Too much attention to the product, at times, inhibits the process of understanding the consumer behaviour and interests.

(ii) Institutional Approach:

This approach to marketing is concerned with the formulation of policies and practices around the institu­tion as a whole and involves considerations of the manufacturing and distri­bution systems. The functions and problems relating these systems are iden­tified, classified and analysed to find out the course of action suitable for a marketing policy and strategy.

For example, the patterns of distribu­tion either through wholesalers or retailers or through opening of branches and sales depots are chosen as the marketing, outlets for footwear class of industries.

In other words, a strategic base is determined and developed by an institution in the marketing dynamics by means of effective co-ordina­tion to reach cut the consumers. Thus, marketing information system through adequate research, planning and programming is essential for an instituti­onal approach to marketing.

(iii) Functional Approach:

This approach to marketing is concer­ned with the activities of two basic functions – selling and buying – which are responsible for the transfer of ownership of goods from the sellers to the buyers.

The following classified functions cane under this approach:

(a) Functions of Exchange (Transfer of ownership):

(i) Buying and Assembling

(ii) Selling.

(b) Functions of Physical Supply (Physical transfer of products):

(iii) Transportation

(iv) Storage (Warehousing).

(c) Facilitating Functions:

(v) Financing

(vi) Pricing

(vii) Risk-taking (Insurance)

(viii) Standardisation

(ix) Advertising and sales promotion.

The study and analysis of the above functions help in understanding the marketing process and provide the bases for formulating marketing poli­cies and practices around these functions. This approach is regarded as an integrated one as it takes into account both the product and institutional approaches. This approach covers all the facets of business planning, decision-making and co-ordination within its fold.

But this functional approach to the study of marketing is not free from criticisms. The practitioners on the subject criticise this approach on the following grounds:-

(a) The marketing functions are difficult to be identified and listed precisely;

(b) The product planning and its design and development are very much linked to the production function than the marketing function;

(c) The different marketing activities and associated problems are given too much importance;

(d) The managerial activities which are vital and significant to the total marketing system are under-estimated; and

(e) The management underscores the importance of decision-making aspects which are bound to arise in the execution of different marketing functions.

(iv) Social Approach:

This approach to the study of marketing’ emphasises the necessity of the marketing function far the good of society. It is the marketing function that provides goods and services to the people in the society according to their needs and preferences at affordable pri­ces. It is that activity which creates and increases the demand of the new and existing products and thereby raises the quality of living of the masses.

That is why, it is stated that the marketing is the creation and delivery of a standard of living to people. The sociologists view marketing as a powerful force that can promote and shape all good things for the betterment of society.

Social consciousness among the masses is accentuated by the marketing function. According to the social scientists, marketing possesses the potentialities of furthering population control dictum, secular ideas, anti-pollution drive and brotherhood among citizens of all castes, creed, and languages.

The school of opinion who are in favour of this approach states that marketing serves the following social objectives:

(1) With better and more efficient marketing sales increase resulting into larger production and diminishing cost. Increased production of goods and services leads to higher national income.

(2) Improved method of marketing research and marketing mix generates new uses of existing products and also new products of greater utility.

(3) Marketing reduces the imbalance in the markets by channelizing surplus production to the deficit areas.

(4) Continuous marketing activity helps maintain continuity of produc­tion and thereby avoids diseconomy in the scale of operations.

(5) The variety of activities involved in marketing function create diverse job opportunities and employment.

(6) In addition to the satisfaction of the physical needs of people, marketing takes into account culturally determined goods for knowledge, pleasure, etc.

(v) Systems Approach:

This approach to the study of marketing considers the marketing function as a sub-system of the society as veil as of the entire organisational entity. As an entity sub-system, marketing co-ordinates the resources of production and distribution of goods and services, determines and directs the nature and scale of the total efforts required for selling, and initiates research and development far consumer satisfaction.

As a sub-system of the society, marketing represents a large number of institutions such as retailers, wholesalers, agents, middlemen, transport agencies, and all those institutions that assist in the continuous flow of goods and services from the producer to the ultimate consumer.

The systems approach to the study of marketing is also called ‘micro- marketing’ denoting that the marketing function is a sub-system of both the organisation as well as the society.

In a systems approach to the marketing function, the following ques­tions are usually asked for an understanding:

(1) What are the strategic parts of the marketing system?

(2) What is the nature of their mutual dependency?

(3) What are the main processes in the marketing system which link the parts together and facilitate their adjustments to each other?

(4) What are the goals sought by the marketing system?

(vi) Managerial Approach:

This approach is also called firm- oriented approach and emphasises the need of managerial decision-making for effectiveness in the marketing efforts. It is believed that this appro­ach helps in increasing the profitability of the firm through betterment of the markets and marketing institutions (like wholesalers, retailers, etc.), the products, and the society.

In this approach, the management is generally faced with two sets of variables such as:-

(1) Controllable variables like product, quality, price, distribution channels, and sales promotion; and

(2) Uncontrollable variables like business environment, competition, and society.

Thus, it becomes the task of the management to study and analyse these variables and strike out a balance between these two sets of variables so that the marketing system grows and delivers the desired results.

In an highly competitive and complex business world, this approach is conside­red as the best for the firms which are always result-oriented in the -atta­inment of objectives like profit maximisation, costumers’ maximum satisfac­tion, market expansion and wealth maximisation.

(vii) Contingency Approach:

More recently, the management experts have come to realise and recognise the contingency nature of organisational management. They view that different problems and opportunities call for different treatments and organisational structures. The environment within which the marketing organisation functions is frequently changing on account of changes in technology, economy, etc.

The contingencies have to be adopted aid so the structure of a marketing organisation might have to be changed with the contingencies. There are many ways to run a marketing function.

For a marketing function to be successful, it must continuously adapt to the business environment, and modify the methods of production and distribu­tion and develop a structure which meets the opportunities and problems at hand. Contingency approach to marketing management refers to this.

In this approach, it is believed that the management of marketing is contingent or dependent upon:

(i) Situation (i.e. environment),

(ii) Peo­ple involved (in the organisation) and

(iii) The manager of the marketing function.

The contingency approach to the study of marketing may, therefore, be schematically represented as follows:

The social approach to the study of marketing refers- to the creation and delivery of a standard of living to people in society through their satis­faction.

In a systems approach to the study of marketing, the marketing function is viewed as a sub-system of the society as well as of the entire organisa­tion.

The managerial approach to the study of marketing is concerned with the managerial decision-making for the attainment of result-oriented marketing efforts.

The contingency approach to the study of marketing suggests development of a marketing structure suitable to meet the opportunities and problems at hand.

5. Essay on the Process of Marketing :

Marketing has been viewed as an on going or dynamic process involving a set of interacting activities dealing with a market offering by producers to consumers on the basis of reliable marketing anticipation (sales or demand forecasts).

Marketing is a matching process by which a producer provides a marketing mix (product, price, promotion and physical distribution) that meets consumer demand or a target market within the limits of society.

The process is based on corporate goals and corporate capabilities. Marketing process brings together producers and consumers the two main participants in exchange. Each producer or seller has certain goals and capabilities in making and marketing bi-products.

He uses marketing research as a tool to anticipate market demand. Then he provides a marketing mix in order to capitalize marketing opportunity. An exchange takes place when market offering is acceptable to the customer who is prepared to give something for value (money) in return against the product so bought.

The marketing process covers three main activities, viz., concentration, dispersion and equalisation. These activities are performed by marketing middlemen such as merchant middlemen (wholesalers and retailers) or agent middlemen (brokers and commission agents).

Functional Classification of Marketing :

Marketing process includes marketing functions.

A chart describing the classification of marketing functions is given below:

Marketing process covers:

1. Marketing agencies or channels of distribution,

2. Marketing functions,

3. Flow of goods to satisfy market demand and

4. The marketing management which is in charge of planning, directing and controlling the marketing of goods and accomplish the primary marketing objective, viz; satisfaction of market demand.

Marketing research is the starting point in the process of marketing to know customer demand through market analysis and investigation. Resources of men, money, materials and management are employed in the marketing system to perform marketing functions in order to satisfy customer demand (the purpose of marketing).

1. Marketing research enables us to know the market demand.

2. Marketing functions are needed to satisfy the market demand.

3. Channels of distribution use marketing resources to perform marketing functions necessary to satisfy demand.

4. Marketing agencies are the media of marketing management for operating the marketing programme.

5. Marketing management evolves marketing mix or programme and implements the same through the marketing agencies.

Marketing functions needed to serve market demand constitute second part of marketing process. As these functions are performed in the marketing channels, these channels of distribution become the third component of marketing process.

Marketing management has to operate through marketing agencies or institutions for distribution of goods in the market. Hence marketing agencies are also covered by the marketing process.

Finally, marketing management is naturally an integral part of the marketing process as it is directly responsible for taking decisions on various marketing problems, formulate marketing plans and policies and execute marketing campaigns through marketing agencies.

We will describe briefly some of the important marketing functions:

1. Selling:

It is one function of the equation of exchange. Selling creates demand for a product.

Selling function involves:

(a) Product planning and development,

(b) Finding out or locating buyers,

(c) Demand creation through salesmanship, advertising and sales promotion,

(d) Negotiation of terms of sale, such as price, quantity, quality, etc.

(e) Sale contract leading to transfer of title and possession of goods.

It is the second function of the equation of exchange. It requires planning of purchases, intelligent search for probable sellers, selection of goods to be sold, assembling of goods in right quantity and quality, at the right place and time, and at the right price. In a formal exchange, buyer has to negotiate terms of purchase and enter into a contract of purchase.

3. Standardisation and Grading:

In agricultural marketing standardisation and grading play a very important role. Standardisation makes sale by description possible. It assures quality. It promotes uniformity of products. It widens the market for commodities.

Standardisation means setting standards of quality. Grading means separating or inspecting products according to established standards. Each grade has uniformity in all attributes. Grading enhances, marketing efficiency.

4. Financing:

Finance is the life-blood of commerce. We have monetary exchange. Value of goods is expressed in money and it is denoted by price to be paid by a buyer to a seller. Credit is necessary in marketing. It plays an important role in retail trade particularly in the sale of costly consumer goods.

5. Marketing Information:

Market intelligence means spreading of market information among buyers and sellers. As marketing conditions are dynamic and they affect industry in any way and to any degree, marketers are interested in knowing trends in market demand, supply, prices and related market information.

Equipped with latest market information, risk of loss can be reduced in purchasing, in pricing, in forecasting market demand and in facing competition in the market.

Securing and using market information is a mark of good marketing management. Market information service has assumed a unique importance in our business system as decision making process in the field of marketing can be based on adequate, up to date, reliable and timely market information. Organized markets, banks, government agencies act as clearing houses of vital market information.

Related Articles:

• Essay on Marketing: Top 5 Essays | Marketing Management
• Difference between Selling and Marketing
• What is Marketing Management
• Essay on Sales Promotion: Top 4 Essays | Functions | Marketing Management

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What is Marketing, and What's Its Purpose?

Updated: January 24, 2022

Published: February 25, 2021

Dictionary.com defines marketing as, "the action or business of promoting and selling products or services, including market research and advertising."

If you work in a marketing role like I do, it's probably difficult for you to define marketing even though you see and use it every day -- the term marketing is a bit all-encompassing and variable for a straightforward definition.

This definition feels unhelpful.

The selling part, for instance, overlaps a little too snuggly with a "what is sales" definition, and the word advertising makes me think of Mad Men brainstorming sessions.

But upon digging deeper, I began seeing that actually, marketing does overlap heavily with advertising and sales. Marketing is present in all stages of the business, beginning to end.

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What is marketing?

Marketing refers to any actions a company takes to attract an audience to the company's product or services through high-quality messaging. Marketing aims to deliver standalone value for prospects and consumers through content, with the long-term goal of demonstrating product value, strengthening brand loyalty, and ultimately increasing sales.

At first, I wondered why marketing was a necessary component during product development, or a sales pitch, or retail distribution. But it makes sense when you think about it -- marketers have the firmest finger on the pulse of your consumer persona.

The purpose of marketing is to research and analyze your consumers all the time, conduct focus groups, send out surveys, study online shopping habits, and ask one underlying question: "Where, when, and how does our consumer want to communicate with our business?"

Here, let's explore the purposes of marketing, along with types of marketing, the 4 P's of marketing, and the difference between marketing and advertising.

Whether you're a seasoned marketer looking to refresh your definitions, or a beginner looking to understand what marketing is in the first place, we've got you covered. Let's dive in. 

Purpose of Marketing

Marketing is the process of getting people interested in your company's product or service. This happens through market research, analysis, and understanding your ideal customer's interests. Marketing pertains to all aspects of a business, including product development, distribution methods, sales, and advertising.

Modern marketing began in the 1950s when people started to use more than just print media to endorse a product. As TV -- and soon, the internet -- entered households, marketers could conduct entire campaigns across multiple platforms. And as you might expect, over the last 70 years, marketers have become increasingly important to fine-tuning how a business sells a product to consumers to optimize success.

In fact, the fundamental purpose of marketing is to attract consumers to your brand through messaging. Ideally, that messaging will helpful and educational to your target audience so you can convert consumers into leads.

Today, there are literally dozens of places one can carry out a marketing campaign -- where does one do it in the 21st century?

Types of Marketing

Where your marketing campaigns live depends entirely on where your customers spend their time. It's up to you to conduct market research that determines which types of marketing -- and which mix of tools within each type -- is best for building your brand. Here are several types of marketing that are relevant today, some of which have stood the test of time:

• Internet marketing: Inspired by an Excedrin product campaign that took place online, the very idea of having a presence on the internet for business reasons is a type of marketing in and of itself.
• Search engine optimization: Abbreviated "SEO," this is the process of optimizing content on a website so that it appears in search engine results. It's used by marketers to attract people who perform searches that imply they're interested in learning about a particular industry.
• Blog marketing: Blogs are no longer exclusive to the individual writer. Brands now publish blogs to write about their industry and nurture the interest of potential customers who browse the internet for information.
• Social media marketing: Businesses can use Facebook, Instagram, Twitter, LinkedIn, and similar social networks to create impressions on their audience over time.
• Print marketing: As newspapers and magazines get better at understanding who subscribes to their print material, businesses continue to sponsor articles, photography, and similar content in the publications their customers are reading.
• Search engine marketing: This type of marketing is a bit different than SEO, which is described above. Businesses can now pay a search engine to place links on pages of its index that get high exposure to their audience. (It's a concept called "pay-per-click" -- I'll show you an example of this in the next section).
• Video marketing: While there were once just commercials, marketers now put money into creating and publishing all kinds of videos that entertain and educate their core customers.

Marketing and Advertising

If marketing is a wheel, advertising is one spoke of that wheel.

Marketing entails product development, market research, product distribution, sales strategy, public relations, and customer support. Marketing is necessary in all stages of a business's selling journey, and it can use numerous platforms, social media channels, and teams within their organization to identify their audience, communicate to it, amplify its voice, and build brand loyalty over time.

On the other hand, advertising is just one component of marketing. It's a strategic effort, usually paid for, to spread awareness of a product or service as a part of the more holistic goals outlined above. Put simply, it's not the only method used by marketers to sell a product.

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Here's an example (keep reading, there's a quiz at the end of it):

Let's say a business is rolling out a brand new product and wants to create a campaign promoting that product to its customer base. This company's channels of choice are Facebook, Instagram, Google, and its company website. It uses all of these spaces to support its various campaigns every quarter and generate leads through those campaigns.

To broadcast its new product launch, it publishes a downloadable product guide to its website, posts a video to Instagram demonstrating its new product, and invests in a series of sponsored search results on Google directing traffic to a new product page on its website.

Now, which of the above decisions were marketing, and which were advertising?

The advertising took place on Instagram and Google . Instagram generally isn't an advertising channel, but when used for branding, you can develop a base of followers that's primed for a gentle product announcement every now and again. Google was definitely used for advertising in this example; the company paid for space on Google -- a program known as pay-per-click (PPC) -- on which to drive traffic to a specific page focused on its product. A classic online ad.

Where did the marketing take place? This was a bit of a trick question, as the marketing was the entire process . By aligning Instagram, Google, and its own website around a customer-focused initiative, the company ran a three-part marketing campaign that identified its audience, created a message for that audience, and delivered it across the industry to maximize its impact.

It’s important to know that this type of marketing campaign requires proper coordination and monitoring of multiple channels. You need to adapt your approach to each specific channel, yet get them to yield the same results -- generate revenue.

This is where a unified marketing software solution can come in handy. It includes the tools necessary to monitor and manage campaigns across multiple channels -- from websites to emails, and online advertisements.

The 4 Ps of Marketing

In the 1960's, E Jerome McCarthy came up with the 4 Ps of marketing: product, price, place, promotion.

Essentially, these 4 Ps explain how marketing interacts with each stage of the business.

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Let's say you come up with an idea for a product you want your business to sell. What's next? You probably won't be successful if you just start selling it.

Instead, you need your marketing team to do market research, interpret marketing analytics data into actionable insights, and answer some critical questions: Who's your target audience? Is there market fit for this product? What messaging will increase product sales, and on which platforms? How should your product developers modify the product to increase likelihood of success? What do focus groups think of the product, and what questions or hesitations do they have?

Marketers use the answers to these questions to help businesses understand the demand for the product and increase product quality by mentioning concerns stemming from focus group or survey participants.

Your marketing team will check out competitors' product prices, or use focus groups and surveys, to estimate how much your ideal customer is willing to pay. Price it too high, and you'll lose out on a solid customer base. Price it too low, and you might lose more money than you gain. Fortunately, marketers can use industry research and consumer analysis to gauge a good price range.

It's critical that your marketing department uses their understanding and analysis of your business's consumers to offer suggestions for how and where to sell your product. Perhaps they believe an ecommerce site works better than a retail location, or vice versa. Or, maybe they can offer insights into which locations would be most viable to sell your product, either nationally and internationally.

This P is likely the one you expected from the get-go: promotion entails any online or print advertisement, event, or discount your marketing team creates to increase awareness and interest in your product, and, ultimately, lead to more sales. During this stage, you'll likely see methods like public relations campaigns, advertisements, or social media promotions.

Hopefully, our definition and the four Ps help you understand marketing's purpose and how to define it. Marketing intersects with all areas of a business, so it's important you understand how to use marketing to increase your business's efficiency and success.

Editor's note: This post was originally published in May 2018 and has been updated for comprehensiveness.

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Essay on Marketing

List of essays on Marketing. Marketing is a comprehensive term and it includes all resources and a set of activities necessary to direct and facilitate the flow of goods and services from producer to consumer. Businessman regards marketing as a management function to plan, promote and deliver products to the clients or customers. Human efforts, finance and management constitute the primary resources in marketing.

Audience : This essay is written in easy and simple words for school, college and university students.

List of Essays on Marketing for School, College and University Students

Essay on marketing   – (1500 words).

Marketing is a comprehensive term and it includes all resources and a set of activities necessary to direct and facilitate the flow of goods and services from producer to consumer. Businessman regards marketing as a management function to plan, promote and deliver products to the clients or customers. Human efforts, finance and management constitute the primary resources in marketing.

Marketing starts with identification of customer’s wants and then satisfying those wants through products and services. The modern concept of marketing is customer-oriented and focuses on earning profit through customer satisfaction.

Prof. Drucker states that the first function of marketing is to create a customer or market. Customer is the most important person in the whole marketing process. He is the cause and purpose of all marketing activities.

According to Philip Kotler, “Marketing is a human activity directed at satisfying needs and wants through exchange process.” All marketing activities are basically for meeting the needs of customers and also raising social welfare. We have twin activities which are most significant in marketing- (a) Matching the product with demand, i.e., customer needs and desires or target market, (b) The transfer of ownership and possession at every stage in the flow of goods from the primary producer to the ultimate consumer.

According to William Stanton, “Marketing is a total system of business activities designed to plan, price, promote and distribute want-satisfying products to target markets to achieve organisational objectives.”

The American Marketing Association defines marketing as 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 objectives.

Paul Mazur defined marketing as the creation and delivery of a standard of living to society. This definition catches the real spirit of the marketing process. It has consumer- orientation. It duly honours the marketing concept which indicates a shift from product to customer-orientation, i.e., fulfillment of customer needs and desires. It emphasises the major function of marketing, viz., satisfaction of customer and social demand for material goods and services.

Example- In the case of oral care products, currently only 47 per cent of the rural population use toothpaste, 23 per cent use tooth powder and the rest neither. Targeting non-users in rural areas and developing awareness about oral hygiene and converting them to tooth powder/toothpaste users.

Features of Marketing :

1. Marketing activities are aimed at satisfying the needs and desires of consumers and therefore, finding out consumer needs and wants is the starting point for all marketing activities. It starts with consumers and ends with consumers by satisfying their needs.

2. Marketing is a continuous activity and the goods are manufactured and distributed to the consumers as per demand.

3. Marketing deals with exchange of goods and services with money as the medium of exchange.

4. Marketing concept has undergone changes over a period of time i.e., the recent one is the societal marketing concept which focuses on three factors- customer demand satisfaction, public interest and profitability.

5. Marketing creates time, place and possession utilities. The consumer is able to obtain the right product at the right time at the right place as and when he requires.

6. Production and marketing are related and production takes place based on the needs and expectations of the consumer.

7. Marketing facilities large-scale production, employment opportunities and social welfare.

8. Marketing is an integral part of business. The survival and growth of business depend upon the effectiveness of marketing operations in an organisation.

9. Marketing is an integrated process and is based on strategies and plans.

10. The long-term objective of marketing is profit maximization through customer satisfaction.

Modern marketing begins with the customer, not with production, sales, technological landmarks and it ends with the customer satisfaction and social well-being. Under market- driven economy, buyer or customer is the king. The marketer should find out what the consumers wish to purchase and how much they are willing to pay. The company should then decide whether the desired product can be produced and sold at the price consumers will pay and at a profit to the company.

Marketing covers the following:

1. Seeking- The purpose of seeking is to discover the customer and customer needs. The marketing opportunity is revealed through an analysis of the environment.

2. Matching- Marketing is a matching process. Customer demand has to be matched with organisational resources and environmental limitations, such as competition, government regulations, general economic conditions, and so on.

3. Programming- The marketing programme, called the marketing mix, covering Product, Price, Promotion and Place (distribution) strategies (4 P’s) will be formulated and implemented to accomplish the twin objectives of customer satisfaction and profitability.

Marketing is an ongoing process of- (1) Discovering and translating consumer needs and desires into products and services (through planning and producing the planned products), (2) Creating demand for these products and services (through promotion and pricing), (3) Serving the consumer demand (through planned physical distribution) with the help of marketing channels, and then, in turn, (4) Expanding the market even in the face of keen competition.

The modern marketer is called upon to set the marketing objectives, develop the marketing plan, organise the marketing function, implement the marketing plan or programme (marketing mix) and control the marketing programme to assure the accomplishment of the set of marketing objectives. The marketing programme covers product planning or merchandising, price, promotion and physical distribution.

Four basic approaches are commonly used to describe the marketing system:

1. Commodity Approach :

Under the commodity approach, we study the flow of certain commodity and its journey from the original producer right up to the final customer. In such a study, we can locate the centre of production, people engaged in buying and selling of the product, mode of transportation, problem of selling and advertising the product, problems of financing it, problems arising out of its storage and so on.

Through such an approach, we can find out the differences in marketing products, services and problems. Thus, we can have a fuller picture of the field of marketing. Marketing of agricultural products such as cotton, wheat, jute represent the commodity approach.

2. Functional Approach :

Under the functional approach, we concentrate our attention on the specialised service or functions or activities performed by marketers. The study of marketing functions (like, buying, selling, storage, risk-bearing, transport, financing, and providing information) represents the functional approach to the marketing system.

3. Institutional Approach :

Under the institutional approach, our main interest centres round the marketing institutions or agencies such as wholesalers, retailers, transport undertakings, banks and insurance companies etc., who participate in discharging their marketing responsibilities during the movement of distribution of goods. We try to find out how these various business institutions and agencies work together to form a total marketing system.

4. The Systems Approach :

A system is a set of interacting or interdependent components or groups co-ordinated to form a unified whole and organised marketing activities to accomplish a set of objectives.

In the model of systems approach we have:

1. Objective,

3. Processor,

4. Outputs, and

5. Feedback.

The system is designed to achieve objectives or goals according to a plan, which provides for the processing of inputs and the discharge of appropriate outputs. The objectives direct the process control monitors the process. Information feedback gives information from internal and external sources and it is the basis for future change in the system.

An open system has its own environment giving the inputs and accepting the outputs. Inputs are processed, producing outputs to meet the objective. The twin objectives of marketing system are customer satisfaction and profitability.

The systems approach provides the best model for marketing activity. It places emphasis on the inputs to the system and the outputs produced. It helps in the determination of marketing and corporate goals, and the development of marketing programmes and the total marketing mix.

Adoption of a systems approach provides a good basis for the logical and orderly analysis of marketing activities. It stresses marketing linkages inside and outside the firm. It emphasises changing environment. It provides a framework for control. It depends on using the right information. Markets can be understood only through study of information.

The output establishes the purpose or objective of a system. The objective is profits through serving the demand of consumers and community. The output of marketing system is sales of goods. Correct inputs must be available to the processor i.e., marketing administration in order to produce desirable outputs.

These inputs in the marketing system are the elements of marketing-mix and the target market determined through marketing research. The marketing system must operate as per plans and policies and within control which may be internal or external. Of course, feedback must be available for introducing corrections in the future plans and marketing operations.

The flow of information required to check performance is called feedback. Feedback ensures the accomplishment of objectives through continuous marketing managerial process of planning-action-control. Marketing environment can be broken down into a number of layers. The inner layers become the subsystems of the outer layer. Output from one layer becomes the input for the next.

Marketing plan is a system and its parts or components are subsystems. There are four components or subsystems of marketing plan or marketing-mix- (1) The product management system to manage products from introduction to market withdrawal, (2) Channel and physical distribution system to manage distribution channels and the flow of goods to the market, (3) Promotion system to coordinate all means of promotion to stimulate demand, and (4) Price system designing prices for a line of products sold to customers under different selling conditions.

Marketing management revolves around these four areas of marketing- mix or plan. Marketing information system provides data for decision-making in all marketing areas or problems. It is also a part of marketing system.

The systems model (plan-inputs-processing-outputs-feedback-environment) placed emphasis on the inputs of resources as per plan, discharge of outputs and marketing information flow. It enables the determination of goals as well as development of strategies and programmes to achieve those goals through feedback control mechanism.

Essay on Marketing – 2 (1000 Words)

Traditionally, marketing has been defined as follows – “Marketing includes all activities that direct the flow of goods and services from the producers to the consumers or users.” This definition is product oriented as it does not consider the needs of the customers. It emphasises sale of goods produced by the producer and thus considers marketing in a narrow sense of ‘telling and selling’.

Modern definitions of marketing are based on the philosophy that “Satisfaction of customers is the basic purpose of business”. According to Philip Kotler, “Marketing is a social process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others”.

This implies matching of products with what is demanded in the market. This requires determining the requirements of potential customers and then developing and supplying those products which meet their requirements. If a business produces the products to satisfy the requirements of customers, it is more likely to be successful in achieving its objectives.

Definitions of Marketing :

Traditional Definition:

Marketing is a social process by which products are matched with markets and through which the consumer is able to use or enjoy the product. It makes goods and services more useful to the society by creating place, time and possession utilities. —Cundiff and Still

Modern Definition:

Marketing is a social process by which individual and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others. —Philip Kotler

The present day marketing is consumer oriented rather than product oriented. Product planning, pricing, promotion and distribution are so organised that the needs of the customers are satisfied fully. In the words of Stanton, “Marketing is a total system of interacting business activities designed to plan, price, promote and distribute wants satisfying products and services to present and potential customers”. Consumer oriented marketing ensures that all business activities revolve around the customer.

The essential elements of marketing are as follows:

(i) Two Parties:

There are at least two parties – buyer or customer on the one hand, and seller or marketer on the other.

(ii) Exchange of Value:

Exchange of goods and services between the seller and the buyer takes place for a valuable consideration. In other words, the parties have something viewed valuable by each other. That means the buyer can offer value and the seller can offer goods which are perceived to be of value by the buyer.

(iii) Freedom:

The parties are free to interact and accept or reject the offer of each other.

(iv) Satisfaction:

Marketing satisfies the needs of both the parties. The consumers gets want satisfying goods and services and the seller gets value in terms of money for his offering.

Marketing as a Process of Managing Profitable Customer Relationships :

According to Philip Kotler, “Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.”

Globalisation and rise of information technology (IT) have increased the expectations of customers. They don’t buy products or brands, but ‘a set of benefits or values’. They expect marketers to be concerned with their total satisfaction. The marketers association with the customer continues even after the sale of the product and this is what is called relationship marketing.

Thus, marketing is a process consisting of the following interrelated elements:

(i) Understand the market and customer needs and wants.

(ii) Design the product to satisfy customer needs and wants.

(iii) Develop an integrated marketing program that delivers superior value to the customer.

(iv) Build profitable relationships with, customers and offer ‘customer delight’.

(v) Capture value from customers to create profits and customer equity.

Marketing enables people to satisfy their needs and wants through exchange relationships. Exchange is the act of obtaining a desired product (or benefit) from a company by offering money value in return. Marketing also involves actions taken by the marketer to build and maintain desirable exchange relationships with target customers.

Marketers try to build strong relationships by consistently delivering superior customer value. Besides attracting new customers, they also try to retain the existing customers. These are the two basic goals of modern marketing.

The key to building lasting customer relationships is to create (i) superior customer value, and (ii) satisfaction. A customer buys from the firm that offers the highest customer perceived value, i.e., the customer’s evaluation of the difference between all the benefits and all the costs of a market offering (i.e., product) relative to those of other firms. Many people prefer to buy sweets from Haldiram’s store as compared to other sweet shops because of higher perceived value.

Market and Related Concepts :

Traditionally, the term ‘market’ refers to the place where buyers and sellers meet for exchange of goods and services. It is in this sense that we refer to Chandni Chowk Market, Kamla Nagar Market, Janpath Market and other markets in Delhi. The buyers go to the market to purchase the goods of their choice.

These days the term ‘market’ has acquired a broader meaning. If refers to actual and potential buyers of a product or service, whom the sellers can approach through various means of communication and transport.

For example, a marketer can approach prospective buyers through web advertising and a customer can purchase goods from his residence or office by placing order on telephone or cell phone or using internet and e-mail. Physical meeting between the parties to buy and sell is not necessary.

Customer Needs, Wants and Demands :

Marketing begins with human needs and wants. Needs are feelings of deprivation of some satisfaction. People need food, air, water, clothing and shelter to survive. These needs exist in the very nature of human biology and marketers do not create them. Wants are desires for satisfaction of needs. Human needs are few but wants are many. Human wants are continually shaped and reshaped by families, social institutions and cultural factors.

Demands are wants for specific products and services. They are backed by the ability and willingness to buy. Wants which are supported by purchasing power become demands. Marketers influence wants and demands by making products attractive, affordable and easily available to the target group of consumers. For example, a marketer might promote the idea that a certain brand of pen (e.g., Parker) would satisfy the need for social status.

Essay on Marketing –  3 (700 Words)

Marketing starts with identifying customer needs and wants and ends with satisfying them through a coordinated set of activities that also allows a firm to achieve its own goals. Awareness of this fact gave rise to the marketing concept. The marketing concept embraces all the activities of a firm. It aims at matching the company’s offering with customer needs, to achieve the desired level of customer satisfaction and generate profits for the company.

The marketing concept is based on the beliefs that are as follows:

(a) The company’s planning and operations are customer-oriented,

(b) The goals of the company should be profitable sales volume and not just volume, and

(c) All marketing activities should be coordinated effectively.

Cundiff and Still, “marketing is the business process by which products are matched with market and through which transfer of ownership affected”.

Tousley, Clark and Clark “marketing consist of those efforts which affect transfer of ownership of goods and services and provide for the physical distribution”.

H.L. Hansen Marketing is the process of discovering and translating consumer needs and wants into products and service specification, creating demand for these products and services and then turns expanding this demand.

According to American Marketing Association, ‘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 organizational goals.

Marketing is defined as “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”.

The term developed from the 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 views marketing as “a set of processes that are interconnected and interdependent with other functions, whose methods can be improved using a variety of relatively new approaches.”

The Chartered Institute of Marketing defines marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably”.

Marketing is used to create the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Managerial Definition :

As a managerial definition, marketing is described as “the art of selling products”. But Peter Drucker, a leading management theorist, says that “the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy”.

Traditional and Modern Concepts of Marketing :

Old or traditional concept of marketing was limited up to profit generation by high volume of sales and production of products at a large scale, how to distribute products from producers to customers in an efficient manner. Marketing activities were concentrated toward selling; later on with rise of competition marketers gave more emphasis to promotion activities to increase their market share and profitability. Salesmanship and product promotion were the main part of marketing policy of a business firm.

Modern concept has shifted from selling to customer satisfaction, modern marketing concept aim at how to understand a customer in a better way it is possible by exploring customer’s want and expectations and marketing behaviour. Products manufactured by firms should match with the demand and expectation of customers.

Under marketing concept a customer should be ready to buy the products on his own initiative, how to create demand in market by customer satisfaction is the main essence of modern concept. Now customer is well aware about his rights, quality and customer services, therefore marketing should be customer oriented, a strong communication network is needed to build high brand equity and goodwill in market.

Marketing is an important functional area of business which generates revenues through the sale of satisfying goods and services to the customers. It involves taking decisions in the areas of product, price, place and promotion keeping in view the requirements of the customers business. In this article, the nature of marketing management, implications of modern marketing concept, objectives of marketing, distinction between marketing and selling and also the tools of marketing mix.

Short Essay on Marketing – 4 (400 Words)

Marketing is the process by which companies determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development.

It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Marketing is used to identify the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. The evolution of marketing was caused due to mature markets and overcapacities in the last 2-3 centuries. Companies then shifted the focus from production to the customer in order to stay profitable.

The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.

Marketing is defined by the American Marketing Association AMA as “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.”

The Chartered Institute of Marketing defines marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” A different concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value.

In this context, marketing is defined as “the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage.”

Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. However, because the academic study of marketing makes extensive use of social sciences, psychology, sociology, mathematics, economics, anthropology and neuroscience, the profession is now widely recognized as a science, allowing numerous universities to offer Master-of-Science (MSc) programmes.

The overall process starts with marketing research and goes through market segmentation, business planning and execution, ending with pre and post-sales promotional activities. It is also related to many of the creative arts. The marketing literature is also adept at re-inventing itself and its vocabulary according to the times and the culture.

Essay on Marketing – 5 (1000 Words)

Marketing as a term is widely used in the management of a business and in our day- to-day life. In the era of customer and competition driven business world, marketing is not just the domain for the marketing department in a company. It’s a philosophy; it’s a business orientation now. It is imbibed in the corporate vision and mission of the successful companies.

All the successful companies in India like Tata, Reliance, Mahindra, Bharti Airtel, Maruti, Birla, Bajaj, Dabur, Patanjali etc., are thriving by understanding and delivering value to the Indian consumers to serve them in a better way than their competitors.

“Marketing is a process of exchange through which needs and wants are satisfied”, so can be the definition of markets given by Philip Kotler is paraphrased.

A better explanation can be given-

“Market is not merely spatial in nature; the buyers and sellers constitute the market, even though not face-to-face. Marketing involves not merely selling but reaching out customers to sell things they want. Thus product- mix, price-mix, distribution-mix and promotion-mix are the four corner stones of marketing. Even consumption patterns and the dictates of consumers are a part of the marketing strategy and then we have to include the policies relating to taxes and subsidies and/or regulations as they affect the product, price, distribution and promotion mixes.”

Another famous name in marketing Peter Drucker emphasized that marketing issues permeate all areas of the enterprise.

There are four most important aspects of marketing and they are:

1. Choosing the product mix;

2. Choosing the price mix;

3. Planning the distributional network; and

4. Market promotion.

These are also known as four Ps [product, price, place (distribution) and promotion], “Consumer is the king” (meaning consumer dictates and is always right) has given way to “consumer is the queen”, (meaning thereby that decision are taken by the lady of the house), are the sayings that give guidepost for developing marketing. There are firms, institutions, persons and governments involved in marketing. There are historical stages of marketing.

Rudimentary barter system is exchange of “commodities with commodities” (we should not call “goods” with “goods” from the “secondary/manufacturing” sector.) By the time there is trading in “goods”, barter system gets superseded. Rural marketing in India still has a good-sized component of the barter economy. Vegetables, edible oil, pulses, milk-products and food grains are taken and given in barter in rural areas.

Transitional stage and concurrent stage between barter and monetised exchange exists (as in India even in the 21st Century). As specialisation and industrial activities develop, barter gives way to exchange with money. However, rural areas continue to have barter transactions. (Some kabaadies in India who recycle the wastes of the households as non-functional fans, old newspapers to n number of things sometimes offer double trade e.g., give anything @ Rs. 15/- and make the payment adjusted against the junk that will be taken by them.

All types of modern markets with their spatial ramifications develop in the developing economy as in India.

Fully modern marketing system will have to satisfy two conditions:

1. There is no barter there, and

2. Even plastic money (credit/debit cards) is used.

Micro-management of marketing is not concerned with increasing the purchasing power.

Macro-management of marketing should aim at various things like:

1. Laying down rules and regulations for all types of marketing;

2. Selling “social marketing” of such ideas as of family planning and/or or advising persons how to save themselves from aids; or

3. Improving purchasing power or entitlements of all groups.

Marketing of primary, secondary and tertiary sector (services) follow one basic principle—how to optimise profits, if not maximise.

What is Marketing? – Definitions of Marketing:

The Chartered Institute of Marketing defines marketing as ‘The management process responsible for identifying, anticipating and satisfying customer requirements profitably’

Oxford Dictionaries define Marketing ‘as the process of performing market research, selling products and /or services to customers and promoting them via advertising to further enhance sales.’

Kotler Philip, Gary Armstrong, Veronica Wong, and John Saunders are of the view that ‘Marketing as an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.’ It generates the strategy that underlies sales techniques, business communication, and business developments.

Paliwoda, Stanley J and John K. Ryans believe in a different concept called the value-based marketing, which states the role of marketing to contribute to increasing shareholder value.

American Marketing Association’s (AMA) has defined as following:

‘Marketing is 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.’

Above definition was applicable till Sept., 2007. Now with the ever changing business environment, the definition of Marketing also underwent a lot of change from Oct., 2007.

Now, AMA defines Marketing as:

‘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.’

Marketing is not just an organizational function, but it is an activity and a set of institutions are involved. Now the customers, organisation and its stakeholders have also been rephrased as Customers, Clients, Partners and Society at large. Now Customer Relationship Management (CRM) is as important as Partner Relationship Management (PRM). Societal welfare is as important as the company’s welfare.

Panasonic’s ‘Eco Ideas’, Nokia’s ‘Take Back Campaign’, HP’s ‘Power to Change’ and Toyota’s initiative for Hybrid Green Vehicles are few examples of corporate initiative for the society at large.

Philip Kotler, a well-known authority on marketing has termed marketing as a ‘societal process by which individual and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.’ Marketing can also be said as the process of ‘satisfying needs and wants through an exchange process’.

In a simpler way, Kotler has defined Marketing in terms of CCDVTP, which means creating, communicating and delivering value to the target market at a profit.

Thus, Marketing is all about identifying and meeting human and social needs and that too in a profitable way. Ultimately, the objective of any business activity is to make profits.

On the whole, we can say that CCCCC STP PPPP encompasses all the aspects in marketing. Sounds confusing, let me clarify, Marketing is all about 5Cs, STP and 4Ps. 5Cs stands for Customers, Company, Competitors, Collaborators and Context. While STP stands for Segmentation, Targeting and Positioning; whereas 4Ps represent the Marketing Mix i.e. Product, Price, Place and Promotion.

Essay on Business Marketing – 6 (2500 Words)

Marketing plays a critical role in modern business practice, where maximizing shareholder value is an increasingly important goal. The essence of business marketing focuses on how firms attract, retain, grow customers — critical firm assets — by enhancing relationships with them.

Success in delivering cus­tomer value leads directly to improving shareholder value and long-run firm prosperity. In Essentials of Managing Marketing, we explore both the strategic aspects of marketing and the tactical implementation decisions marketers make every day. But first, we investigate two quite different but related meanings of marketing.

Marketing as a Philosophy embraces the view that marketing is the guiding force/orientation for the entire corporation. Firms with a marketing philosophy operate with an external orientation. Such firms focus attention, resources outside the corporation — to acquire, retain, grow customers — but take careful account of a range of external environmental forces.

By contrast, internally oriented firms focus on internal issues — products, services, processes. Essentials of Business Marketing embraces the marketing-as-philosophy perspective. The author believes, and has seen in his own career, how powerful and effective a business can be when the entire organization is attuned to the external world. Such agile firms not only sense critical environmental factors, but also adapt to address them.

Marketers must possess the tools/decision-making skills to get the marketing job done. Effective marketers focus on six marketing imperatives. Marketing Imperatives describe the specifics of the marketing job. For executives with marketing/ product-management titles, these imperatives are the must-dos of marketing.

We identify two groups:

1. Strategic Marketing:

Imperative 1-Determine, recommend which markets to address.

Imperative 2- Identify, target market segments.

Imperative 3- Set strategic direction, positioning.

2. Implementing Market Strategy:

Imperative 1- Design the market offer.

Imperative 2- Secure support from other functions.

Imperative 3- Monitor and control execution/ performance.

To broaden this framework, four marketing princi­ples form the basis for marketing decision-making.

These principles act as guidelines for executing the six imperatives:

Principle 1- Selectivity, Concentration

Principle 2- Customer Value

Principle 3- Differential Advantage

Principle 4- Integration

What is Marketing?

Marketing is often confused with advertising and sales. Even many executives are unclear. It seems so intuitive; can’t anybody be a marketer? Marketing is the firm’s fundamental activity. When marketing delivers value to satisfy customer needs, the firm attracts, retains, grows customers, in the face of competitors trying to do the same thing. If costs are in line, profits follow. Profits help the firm survive as an independent entity, secure resources to grow, enhance shareholder value.

Business Marketing’s role includes identifying opportunities; figuring out customer needs; understanding com­petition; developing appealing products/services; communicating/distributing value to potential customers. When the firm does a good job of completing these tasks, shareholder value increases. Example- Flipkart — successful e-commerce firm — co-founder Sachin Bansal emphasizes that focus on customer satisfaction and owning the entire customer experience has benefited his firm.

The critical weapon in the battle for customers is straightforward in concept, but may be complex/ difficult in execution. The firm must deliver customers greater value than competitors deliver. Customers reward such firms by purchasing their products/services, today and tomorrow. This exchange is the basis of all markets.

The late Peter Drucker, preeminent management theorist, is generally credited with developing the customer orientation and modern marketing per­spective. Drucker stated, “If we want to know what a business is, we have to start with its purpose. There is only one valid definition of any business purpose — to create a customer. It is the customer who determines what a business is.

For it is the customer, and he alone, who through being willing to pay for a good or service, converts economic resources into wealth, things into goods…. Because it is [the purpose of a business] to create a customer, [the] business enterprise has two — and only these two — basic functions- marketing and innovation.”‘

Business Marketing and Shareholder Value :

The central focus on shareholder value is deeply rooted in many capitalist countries. The shareholder- value perspective defines managements job as maximizing returns for firm owners — shareholders.

In addition to shareholders, the firm has many other stakeholders — management, labor, public at large. In some capitalist countries, these stakeholders are more favored than shareholders. Indeed, in these countries regulations generally favor managers, and protect them from unwelcome mergers/acquisi­tions. Regardless, in recent years, developing global capital markets have favored the shareholder-value perspective.

Customers are the sole source of firm revenues; all firm activities are costs of attracting, retaining, growing customers. Unfortunately, managers sometimes forget this fundamental truth. Customers provide revenues/cash flow when they believe firm products/services offer better value than competitive alternatives.

Marketing as a Philosophy- External, Internal Orientations :

The firm enhances shareholder value by attracting, retaining, growing customers. At a philosophical level, each employee has some responsibility; marketing is everybody’s business.

To quote Drucker again, “Marketing is so basic that it cannot be considered a separate function within the business … it is, first, a central dimension of the entire business. It is the whole business … seen from the customers point of view. Concern and responsibility for marketing must, therefore, permeate all areas of the enterprise.”

David Haines, former brand czar at Vodafone, echoed Drucker- “Marketing is too important to be left to the marketers. It’s the obligation of every single individual in the company, whether you’re a phone operator, the CEO, or anyone else in the company.” To put it more crassly- If marketing is unsuccessful, nobody gets a paycheck!

Marketing as a philosophy concerns the firms entire orientation; such firms operate with an external orientation. The externally oriented firm looks outward to the environment; it knows that customers are central to its future. Other firms focusing on internal business drivers have one of several internal orientations-, delivering customer value takes a back seat.

i. External Orientation:

The externally oriented firm knows its current products/services/processes are the reasons for past/ present success. This firm also knows that, as the external environment evolves, its products/services/ processes must also change. The externally oriented does not fear change. This firm goes beyond a customer focus; it works hard to understand competitors markets, other environmental forces. This firm invests in new capabilities/competencies to exploit opportunities for attracting, retaining, growing customers. P&G spends over $400 million annually seeking customer/market insight.

In difficult economic times, when profits are under pressure, many firms cut spending/investment; but the externally oriented firm increases investments — human capital, marketing budgets, mergers, acquisi­tions. Example- In recent recessions, Amazon, Cisco, Coca-Cola, Intel, Tata Consultancy Services invested heavily; they swept past more internally oriented competitors.

ii. Internal Orientations :

Internally oriented firms place internal business considerations ahead of customer focus.

The orientations are:

1. Operations Orientation:

It overemphasizes improving efficiency, reducing costs. There is nothing inherently wrong with such actions; by contrast, cost reduction should not be a priority when the firm offers new products/services, enters new markets, or otherwise should invest to attract, retain, grow customers.

2. Sales Orientation:

It focuses on short-term sales revenues. The firm is less concerned with profits. Characteristic actions to secure sales- Prices set too low, unsustainable discounts, loose credit terms, excessive product variations. The firm spends little effort on marketing research, planning; targets customers indiscriminately.

3. Finance Orientation:

It focuses too heavily on short-term profits. When a firm manages by the numbers, it tends to avoid expenditures for long- term payoff. The finance-oriented firm mortgages its future by indiscriminately cutting back — adver­tising, capital investment, R&D, talent.

4. Technology Orientation:

It focuses on R&D, but pays insufficient attention to customer value. First- class products are critical for attracting, retaining, growing customers, but for this firm technology is more important than customers.

The Six Marketing Imperatives :

The job of putting the firms marketing philosophy into practice normally falls to marketing profes­sionals. These people engage in many activities; they must make decisions on how to allocate their time/other resources.

The critical question- Are we doing the right things to attract, retain, grow customers? Put another way- Are we implementing the six marketing imperatives — the firm’s must-dos. Imperatives 1, 2, 3 focus on strategic marketing; imperatives 4, 5, 6 zero in on implementing market strategy.

Imperative 1- Determine, Recommend Which Markets to Address :

The firm must answer critical questions about its business, market portfolios:

i. In which new businesses/markets shall we invest — people, time, dollars?

ii. From which businesses/markets shall we withdraw?

iii. In which current businesses/markets shall we continue to invest?

iv. How much investment shall we make in these various businesses/markets?

Marketing plays two key advisory roles. First, identify opportunities. Marketing is the only function with explicit responsibility to focus attention externally on the market, customers, competitors — outside the firm. Marketing personnel should research the environment to identify potential opportunities, then bring these to top management for go/no-go decisions.

Second, advise on proposed strategic actions. Many parts of the firm develop strategic initiatives. Marketing has the responsibility to insert itself into key decisions — collecting, analyzing relevant data — bearing on market entry/exit. Marketing should fully explore the ramifications of potential firm actions, or disaster may ensue.

Imperative 2- Identify, Target Market Segments :

Marketing must identify market segments — groups of customers with similar needs that value similar benefits with similar priority orders. Once the firm has identified market segments, it must decide which to target for effort. Effective segmentation and targeting are critical for delivering customer value and driving sales, profits.

Imperative 3- Set Strategic Direction, Positioning :

The firm decides how to compete in those market segments it has targeted. For each target segment, marketing must formulate performance objectives, then decide on firm positioning in each segment — target customers, target competitors, value propo­sition, reasons to believe. Together with Marketing Imperative 2, positioning completes the STP trium­virate — segmentation, targeting, positioning.

Typically, individual market segments are at different developmental stages; hence they require different approaches. Finally, decisions about strategic direc­tion must include questions about branding. The firm must continually assess strategic direction and make necessary course corrections.

Imperative 4- Design the Market Offer :

The market offer is the total benefit package the firm provides customers. Tools for designing offers are the most well-known part of marketing.

The marketing-mix elements — aka 4Ps — comprise the basic building blocks:

i. Product:

Generally, the product embodies major benefits the firm offers to satisfy customer needs — these benefits provide customer value. Product comprises both physical products and intangible services.

ii. Promotion:

Embraces various ways the firm communicates with customers — informing, per­suading customers to purchase (or recommend) its products. Core promotional elements include mass communications — advertising, publicity & public relations; digital marketing; personal communica­tions — sales force.

iii. Distribution:

Focuses on how, where customers secure the product (aka place).

The firm establishes its feasible price by the equivalent amount of value it offers customers via product, promotion, distribution.

Imperative 5- Secure Support from Other Functions :

Functional areas must work together to ensure the firm designs and executes the right market offer.

Business marketing requires two very different types of support:

i. Support for design — relates to technical, opera­tional, economic feasibility. This support requires keeping the firm focused on satisfying customer needs and pushing specific functions to encourage evolving their capabilities.

ii. Support for implementation — assumes the firm has agreed upon/fixed the design. Marketers must possess the leadership/interpersonal skills to secure cooperation across multiple functions — internal marketing, getting buy-in.

Imperative 6- Monitor and Control Execution/Performance :

Is the firm achieving desired results? If results are not on track, what changes should the firm make?

Marketing is a key stakeholder in securing answers to three questions; it should act appropriately based on the answers:

i. Are various functions/departments implementing the market offer?

ii. Is market/financial performance reaching planned objectives?

iii. Based on current environmental realities, are objectives, strategies, implementation plans on track? Should the firm make changes?

Four marketing principles serve as guidelines for exe­cuting the six imperatives:

Principle 1- Selectivity, Concentration :

Providing advice on market selection — Imperative 1 — and deciding which market segments to target — Imperative 2 — are among marketing’s primary responsibilities.

Underlying these imperatives is the-

i. Selectivity- Carefully choose targets for firm efforts.

ii. Concentration- Concentrate resources against those targets.

This principle is about choosing the firm’s battles. It is dangerous to dissipate limited resources over too many alternatives by trying to do too much. No orga­nization, no matter how large or how successful, has infinite resources.

Some experts re-label this principle Concentration and Concession. Not only must the firm concentrate resources, it should affirmatively decide where it does not want to compete.

Principle 2- Customer Value :

Market success depends on providing value to cus­tomers. This principle is central to the marketing job. Customer insight should drive design, implemen­tation of market offers, product/investment deci­sions, and performance evaluations. The firm develops, produces, delivers products/services, but customers perceive value only in the benefits these products/ services provide.

Customer value is a moving target. As the environ­ment evolves, customers accumulate experience; the needs and benefits they seek evolve also. World-class companies continuously invest in marketing research to probe deeply into customer needs, priorities, expectations, and experiences. They feed these results into the product development process to generate greater value for customers.

Firms that take their eye off the customer ball can get into serious trouble. Shoppers Stop, Aditya Birla Retail, Reliance Retail have closed many unprofitable stores in recent years.

Principle 3- Differential Advantage :

Closely related to the Principle of Customer Value; differential advantage lies at the heart of every successful market strategy —the firm should offer customers something they value, but cannot get elsewhere. Differential advantage is similar to competitive advantage, unique selling proposition, having an edge.

To implement this principle, the firm must develop well-designed market offers, based on the marketing-mix elements, and secure buy-in from other functions.

i. Competition:

Offering customer value is not enough. To avoid competitive parity, the firm must offer greater value than competitors. The firm must create/recreate differential advantage to beat com­petitors.

ii. Superiority:

Some differential advantages are better than others. Differential advantage based on propri­etary intellectual property, unique product design, product availability may be more sustainable than differential advantage based on communications.

A differential advantage based on an organizational process like parts delivery, qualified technicians may be even more sustainable.

iii. Erosion:

Competition will eventually erode even the apparently most sustainable differential advantage. Maintaining differential advantage is marketing’s most fundamental challenge; the search for differential advantage must be continuous.

iv. Cannibalization:

To stay ahead of competition, the firm must be willing to cannibalize its own offers. Many firms will not do so — in part because of strong political constituencies for the status quo; in part because profit margins may be lower. Such unwillingness to act runs the risk of missing oppor­tunities, passing market initiative to a competitor.

v. Differential Advantage and Difference:

A differ­ential advantage is not the same as a difference. Developing a different market offer may not be difficult. Differential advantage must create benefits/values customers recognize, and are willing to pay for.

Principle 4- Integration :

This principle has two dimensions:

i. Customer:

The firm must carefully integrate and coordinate all design and execution elements it offers customers. Poor advertising can ruin an excellent product; delayed promotional materials can doom product launch; improper pricing can cause havoc with sales forecasts.

The firm must carefully integrate/coordinate all internal activities. Different functions/depart­ments must work together; they must avoid squab­bles over priorities, turf wars, ambiguous messages by senior managers. Firms with an external orientation are more likely to achieve integration; employees, departments, businesses share a common purpose — serving cus­tomers. Sharing responsibility for designing, imple­menting market offers drives agreement on priorities and close/cooperative working relationships.

Essay on Marketing Topics – 7 (1900 Words)

Marketing refers to a social process by which individuals and groups obtain what they need and want through creating, offering and exchanging products and services of value freely with others. It is the sum-total of all the activities that facilitate flow of goods and services from producers to the ultimate consumers.

In simple words, marketing involves study and management of exchange relationships. It is used as a tool by business to create the customer, to keep the customer and to satisfy the customer.

Marketing is concerned with all the activities of a company which are associated with buying and selling of a good or a service. It involves activities that aim at making people aware of the company’s goods or services and making sure that these are available to be bought and availed respectively.

Marketers are involved in marketing various types of entities like goods, services, experiences, events, persons, places, properties, organisations, information and ideas. Marketing is an ongoing communication exchange with customers in a way that educates, informs and builds a relationship over time.

It is the process by which a firm profitably translates customers’ needs into revenue. It also involves building a brand and convincing people that a particular brand is the best.

It aims at satisfying the needs and wants of the customers and thereby retaining them for the longest possible period of time. Marketing attracts consumers’ scarce resources, attention and disposable income to derive profitable revenues.

It is the process of getting a product or service from a company to its end-customers from product development through to the final sale and post purchase support.

Essay Topic # 1. Definition of Marketing:

Some Important Definitions of Marketing:

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. —American Marketing Association (AMA)

Marketing is the science and art of exploring, creating and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. If defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best, and it designs and promotes the appropriate products and services. —Philip Kotler

Marketing is a management activity that identifies, anticipates and satisfies customer requirements efficiently and profitably. —Mark Gwilliam

Marketing is the management process for identifying, anticipating and satisfying customer requirements profitably. —Chartered Institute of Marketing

Marketing is the business process by which products are matched with the markets and through which transfers of ownership are affected. —F.E.Clark

Marketing is that phase of business activity through which the human wants are satisfied by the exchange of goods and services. — J.F.Pyle

Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. — Philip Kotler

Essay Topic # 2. Nature of Marketing:

(i) Customer Focused – All marketing activities should be customer oriented. They should start with identifying the customer’s needs, followed by developing products, pricing it, promoting it and distributing it as per the customer’s requirements.

(ii) Integrated Process – Being an integrated process, marketing involves coordination of many activities with other business functions like production, personnel, financing, research and development.

(iii) Multi-Disciplinary – Marketing is multi-disciplinary as it has evolved out of commerce and has got its strength from law, psychology, sociology, mathematics and statistics. It is an art as well as a science.

(iv) Interaction with External Environment – It operates within the framework of external environment which comprises of economic, natural, social, legal, political environment etc.

(v) Mutually Beneficial Exchange – It means buyers get want-satisfying goods and sellers get value in exchange of their goods leading to mutual benefit to both the parties.

(vi) Based on System Approach – It is based on system approach as it requires intelligent coordination of four ‘P’s of marketing mix. These are Product, Price, Place and Promotion.

Essay Topic # 3. Importance of Marketing:

(i) It is the beating heart of a business organization – Being the revenue producing department, it is a very important function of management.

(ii) It facilitates creation of place, time and possession utility – As creating these utilities help a marketer to achieve success in the business.

(iii) It helps in improving the standard of living of the people – This is done by offering wide variety of goods and services to the people.

(iv) It generates employment – A large number of people are employed by marketers to carry out various functions of marketing.

(v) It leads to economic development of the nation – It mobilises untapped resources and facilitates full utilisation of production capacity and other assets and hence leads to economic development of the nation.

Essay Topic # 4. Modern Marketing:

The Present Day Marketing is Customer Driven:

Business must find out what the consumers want and then produce goods according to the needs of the consumers. What is offered for sale should be determined by the buyer rather than by the seller. Instead of trying to market (sell) what is easiest for us to make, we must find out much more about what the consumer is willing to buy.

Under consumer-oriented marketing it is highly essential to know what the consumers really want. This is possible only when information is collected from the consumers.

Marketing research and Marketing Information Systems are now-a-days full-fledged functions of marketing. All organisations accept that the marketing activities must start far ahead of production. The company must appreciate and understand the consumers’ strategic position as a determinant of the firm’s survival and growth.

This philosophy of marketing means that the entire marketing is designed to serve consumer needs. The marketing man is introduced at the beginning rather than at the end of the production cycle and marketing is integrated at each phase of the business.

Thus, Marketing, through its studies and research will determine for the engineer, designer and the manufacturing manager, what the consumer wants in a given product, what price he is willing to pay and where and when it will be wanted. The launch of the ‘Nano’, a small car for the common man of India at an affordable price is a glaring example of this statement, i.e., the present day marketing is customer driven.

Marketing Begins before Production and Continues after Sale:

Marketing is an organizational function which includes 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.

By stating definition of marketing itself, it becomes clear that marketing also deals with the creation of a product. It is done by means of proactive marketing, i.e., focussing on customers’ latent needs. For this the process of Marketing Research is applied. These days the companies’ strategies have shifted from “make-and-sell” philosophy to “sense-and-respond” philosophy.

In order to identify the needs of customers various surveys are conducted, pilot studies are done. The respondents are not just prospective customers but also front line executives, since they know a lot about the needs of customers.

At each stage of new product development, marketing has a key role to play.

Marketing after sales – Making a new customer is costlier than retaining an old one. Therefore, it is necessary to keep the customers not only satisfied, but rather delighted. This can be done through customer relationship management, where marketers can offer to provide after sales-services, warranties, guarantees, product resale offers, discounts on next purchase etc.

Marketing Creates Value for Customers and Builds Profitable Customer Relationships and Captures Value from Customers in Return:

“Marketing creates value for customers and builds profitable customer relationships and captures value from customers in return.” This statement very aptly describes the essence of marketing in modern scenario. It is a two way process of creating value for customers by offering high quality products in exchange of a price which acts as value from the customers.

It is a mutual beneficial activity where focus is on building and maintaining long-term profitable customer relationships. Today’s successful companies are strongly customer focussed and heavily committed to marketing. They share passion for understanding and satisfying customers’ wants and make a sincere effort to provide solutions by coming out with innovative products.

For example – Procter & Gamble, one of the world’s largest and most respected marketing company creates value for customers by offering innovative products like Tide, Pantene, Gillette, etc. which are widely accepted by customers and in return Procter & Gamble gets rewarded with brand loyal customers.

Similarly, Philips is another company which is always striving to come out with novel solutions for existing problems and produces high quality innovative products like ‘Air Fryer’, ‘Electric Shaver’, etc. They too are rewarded by customers in return with strong loyalty and quick purchases of their products.

Modern Marketing is an Integrated Process of Identification, Assessment and Satisfaction of Human Wants:

The modern marketing concept enunciates that business is essentially a ‘need-satisfying process’ and that any business must be managed keeping the consumer and his needs as the main focus.

All goals of business including profit must be realised through consumer orientation, integrated management action and generation of consumer satisfaction. Matching products with the market implies determining the requirements of potential customers and designing products that satisfy these requirements.

Thus, modern marketing is the integrated process of identification, assessment and satisfaction of human wants. The focus is on the customer and his wants. It is the process of discovering and translating consumer wants into products and services and then in turn making it possible for more and more people to enjoy more and more of these products and services.

Concern for customers’ needs and wants increases the acceptability of the product. When a firm produces the product which meets the requirements of the customers, the need for promotion is reduced. It ensures continuous patronage of customers.

Unification of business activities leads to economy and efficiency in marketing operations. The systems approach to marketing facilitates a rational analysis of all marketing problems along with their effective solutions.

It helps the management to direct organisational effort towards the long-term and wider goals like stability and growth of the firm. Sustained interaction with customers becomes possible.

It is the management orientation that holds that the key task of the organisation is to determine the needs, wants and values of a target market and to adapt the organisation to deliver the desired satisfaction more effectively and efficiently than its competitors.

Thus, modern marketing is an integrated process of identification, assessment and satisfaction of human wants.

Modern Marketing Concept is Applicable to All Business Organisations Irrespective of their Size, Nature or Functionality:

The adoption and use of modern marketing concepts have various benefits for any company irrespective of their size, nature or functionality.

Some of the benefits are listed below:

(i) Concern for customers’ needs and wants rather than itself product increases the acceptability of the product.

(ii) Marketing concept requires an integrated and coordinated approach to marketing. Hence all the business activities are focussed towards a single organisational goal.

(iii) Marketing concept is a system approach to marketing. It facilitates a rational analysis of all marketing problems along with their effective solution.

(iv) A business firm pursuing Marketing concept can respond effectively to the changes occurring in the marketing environment.

(v) Marketing concept has a strategic and philosophical value. It helps the management to direct organisational efforts towards long term and wider goals.

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Sony’s Marketing Activities: Analysis

Introduction

Marketing is a business’s procedure to encourage purchasing or selling merchandise or offerings. Promotion involves advertising, selling, and delivering goods to consumers or other businesses. Advertising has been essential to Sony Company because it raised customer awareness of its 1944 original PlayStation, connected them, and assisted them in purchasing decisions. To explain the importance of Sony’s 1994 original PlayStation marketing activity for its success, this paper provides a SWOT analysis of the console, uses SMART to define the gaming’s objectives, and offers its segmentation, targeting, and positioning techniques. In addition, the essay provides Sony’s marketing mix, promotional strategy, and value proposition.

SWOT Analysis

• Strong brand. Sony’s PlayStation 1 well-renowned and highly-prized trademark is one of its best attributes. Customers who purchased the Sony PlayStation 1 were confident they would receive a solution that functioned as advertised and could proudly display it to their peers.
• History of innovation. Sony was highly regarded in the gaming sector for its breakthrough PlayStation systems, which shaped the videogame experiences of many youngsters (Niu, 2021). The formidable original PlayStation was not created overnight and is widely esteemed due to its history of inventiveness.
• The high price of games. Due to the exorbitant cost of games, a growing number of PC gamers have abandoned their consoles in favor of PC gaming. Compared to Xbox, the PlayStation 1’s game prices are greater, and the skimming price approach is employed.
• Frequent upgrades. Due to the restricted nature of PlayStation 1’s console versions of Windows, periodic hardware updates need console upgrades. Once a game was modified, the accompanying games were only available on the most recent console, not its predecessor. As a result, players were forced to compromise by purchasing a new system every few years, which was both costly and problematic.

Opportunities

• Virtual reality (VR). VR was not only useful for gaming, but it served as a social platform. As a result, the console market leader could rapidly expand if it releases its VR platform. Later, the VR game battle commenced; however, Sony PlayStation had the advantage due to its robust distribution channels.
• Rise in gaming worldwide. Gaming was becoming increasingly popular globally, particularly in developing countries and emerging marketplaces. Consequently, this increase in gaming benefited a market-leading business like PlayStation, which also enjoyed good distribution.
• Mobile gaming. Cell phones were PlayStation’s 1 largest indirect competition. Mobile phones were becoming increasingly capable of delivering graphically superior games. In reality, smartphones were able to broadcast games to televisions, and individuals could pair the mobile and television to play games. The portable gaming sector posed the greatest indirect danger to the console market and PlayStation.
• Decreasing sales of consoles. The annual decline in console sales since 2010 posed a significant threat to the original PlayStation. This decline in revenue was a strong indication that people were losing confidence in console games and increasingly embraced mobile games.

Specific, Measurable, Attainable, Realistic, and Timely are the meanings of the abbreviation SMART. The objectives were to be a Multimedia and Versatile Recreation System and the Entertainment Market Leader . These objectives were specific in that they were precise by highlighting what they intended to influence: the multimedia and multifunctional entertainment system. The aims were measurable because they provided the company’s desired level. Sony produced only 200 units of the original PlayStation that supported Super Nintendo game cartridges (Murphy, 2021). Moreover, they were attainable as Sony had the means and expertise to accomplish the goal. Other gaming systems, such as the Sega Saturn and Nintendo 64, were already functioning effectively.

Attainability was enhanced by selling at lower prices than its competitors. Consequently, the objectives were realistic as they aligned with the company’s mission statement of being a firm that stimulates and satisfies people’s inquisitive and recreational needs (Murphy, 2021). Lastly, the goals were timely because they had a start and end date; the PlayStation was terminated on March 23, 2006, more than eleven years after its first debut (Murphy, 2021). Consequently, the original PlayStation was the multimedia industry leader due to its cheaper price, 3-Dimensional (3-D) graphics, and military application utilization.

Segmentation, Targeting, and Positioning

Segmentation.

Customers in the Audio and Video Equipment business have diverse requirements, preferences, expectations, resources, geographies, technology access, cultural variations, purchasing dispositions, and end uses for the goods and services. Through market segmentation, Sony decided to partition the whole market into segments with comparable characteristics, purchasing habits, and social class. As Sony’s PlayStation 1 offered a stronger value proposition, the company classified its clients based on two key demographic factors: the potential client’s affluence and life cycle.

Age, gender, and earnings are considered when a demographic divide is performed. According to Sony, the North American, Japanese, and European marketplaces were the three most critical geographic markets for the original PlayStation, the newest in a long line of PlayStation devices. Sony’s segmentation separated the PlayStation 1 sector into male and female, older and younger, broadening the corporation’s recreational stream. For example, most first-person action games are labeled M, meaning one must be 17 or older to acquire them (Sony, 2022). Other diversions were labeled E for all audiences, T for adolescents, and E+10 for those older than ten (Sony, 2022). When adding new applications to the interface, sexuality was also considered.

After discovering several market customer segments, Sony targeted a certain market. Sony PlayStation 1 was designed for men aged 17 to 40. They targeted individuals who had recently left the position of guardian and now had greater freedom than youngsters and adolescents. The most famous original PlayStation 1 video games were designated M, which required a minimum age of 17 to play (Sony, 2022). In addition, Sony Corporation targeted businesses with its augmented world’s headgear PlayStation VR due to the slower-than-anticipated adoption of 3-D visualization.

Positioning

Sony’s positioning strategy was objective-driven and resulted in the more effective use of promotion tools. Strategic planning requires categorizing a company’s aim or objective; however, there has been a shift in the understanding of management in recent years. Sony had positioned the newly introduced PlayStation 1 as the system of preference for avid gamers. It was the device of the future generation, with high-quality visuals and engaging immersive gameplay. However, the relentless assault of its adversaries by releasing new variants at timed periods compelled Sony to reinvent itself and explore product consistency and commercialization concerns. It was challenging for the brand to interact with all consumers using a single voice across all contact points while maintaining consistency in an always-evolving climate.

Marketing Mix

Product is a crucial element of any firm, as it is the primary factor determining organizational success. Sony is one of the globe’s foremost consumer electronics manufacturers and offers merchandise and solutions. Sony’s product marketing mix encompasses a vast array of offerings. There are consumer electronics, games consoles, equipment, and smartphones among Sony’s offerings. PlayStations are the international marketplace leader in the field of gaming systems.

Sony PlayStation has items with low, medium, and high prices and takes a multifaceted strategy toward various types of consumers. Sony’s price-skimming approach in its promotion mix is effective as an electronics manufacturer. As the new product was introduced with cutting-edge innovation, Sony inflated the cost to grab the original good yields before gradually lowering the price. The price reduction increased the original PlayStation’s sales. Sony imposed a premium for its exceptional audio quality within the original PlayStation.

Sony stores are specialized locations where only Sony items are marketed. These establishments have people specialized in answering questions about Sony products. It has robust human resources of 100,000 individuals behind the procedures at Sony (Sony, 2022). In contrast, dealer outlets carry multiple brands in addition to Sony. Depending on anticipated sales, a dealer purchases the PlayStation 1 products to promote in their store. The merchant is deemed to have made a sale when they assume the liability of possessing the merchandise. Lastly, e-commerce websites have enormous promise because ordering and delivery are simple.

In Sony’s marketing mix branding campaign, Sony utilizes all media, including television, print, web commercials, and billboards. Sony bases its brand positioning on the effectiveness of its PlayStation 1. It targets the purchaser’s mindset to establish brand equity for their offerings. For instance, when customers think of music-related devices, Sony is the first brand that comes to mind. Furthermore, Sony frequently reduced pricing and offered discounts during holidays to stimulate sluggish sales. Sony used movie stars and other personalities to promote the elegance and functionality of the original PlayStation. Consequently, it can be determined that Sony uses many publicity stunts for its businesses.

Promotional Strategy

Promotion is essential to successfully release an item, making the target buyers conscious of its usability and influencing the business and the item. It dramatically enhances the corporation’s profit while educating consumers and increasing brand awareness. The promotional approach used by Sony for the original PlayStation is the product strategy. In doing so, the following marketing methodologies were utilized. Firstly, Sony had always believed in portraying itself as a technological leader by providing the market with highly inventive and high-quality PlayStation 1. This advertising technique aligns nicely with the firm’s organizational goal of meeting consumer expectations through technology deployment. Marketing, in certain instances, addressed the low-end marketplace through discounted rates which have also acted as a strategy for moving into new sectors. The firm felt it might develop as it grew by delivering clients a more pleasant experience. This was accomplished by increasing client contentment with a more personalized approach.

Secondly, the firm utilized a promotional mechanism encompassing expansion into other countries. The company anticipates selling 500,000 PlayStation 1 units in the first year before entering the worldwide market entirely (Aurègan & Tellier, 2019). To commercialize the merchandise, the business required $1 million. Given that this is an enlargement initiative, it will be fully funded by rights offering to the company’s creditors. This will cover all further expenses, including design, manufacturing, and dissemination. This was anticipated to be successful because it would ultimately benefit the stockholders. Based on the data provided, the initiative appears profitable, as the enterprise has a probability of breaking even within the first year.

Table 1: Anticipated Earnings from Diversification 

Lastly, Sony has not been left adrift because it has included e-business in promoting the original PlayStation. Here, it has provided customers with what they want to see when conducting digital marketing. It invites recommendations regarding consumer expectations for fulfillment. The business established the trust required for expansion by providing clients with what they desired. Internet-based e-business aims to achieve all predetermined objectives without any inconsistencies. This allowed the corporation to distribute its services and merchandise worldwide as it expanded.

Customer value is an essential component for the success of a business. Sony is a well-regarded brand among digital manufacturers, with only Samsung and LG able to compete (Goetzenberger et al., 2022). The Sony brand is connected with the firm’s capacity to generate innovative and high-quality products. Each of the entity’s products can engage with its client. For the PlayStation 1, the business made the product accessible and user-friendly, enabling consumers to utilize complex technology without technical knowledge (Dathe et al., 2022). Among the many groundbreaking aspects of the Sony PlayStation, the console’s dedication to 3-D games that use polygons for its architecture rather than flat cells stands out among adversaries.

The PlayStation’s 1 gamepad would also set a new standard by making it simple for clients to traverse the function keys. The initial PlayStation gamepad was a decent progression of what had been pioneered by the Super Nintendo, with additional shoulder controls and a more 3-D layout that people could comfortably use while gaming. From the $299 introduction of the original PlayStation, the famous console has generated multiple next-generation variants, including the all-time greatest system, PS2 (Dathe et al., 2022). The original PlayStation was less expensive than its contemporaries, such as Super Nintendo, but had superior performance, providing buyers with excellent value.

In regaining its market share and being competitive, Sony had to diversify. Sony sought to refocus on its key capabilities and directed its efforts towards globalization to enhance its positioning and distinguish its luxury PlayStation 1 from rivals. The firm had been involved in various sectors for some time. This differentiation made the corporation concentrate on the market while consuming many of its resources. The concentration that had been neglected for some time was recovered, as the sector was rapidly saturated with adversaries from around the globe. The above recommendation would then take the company 1year to implement.

In conclusion, Sony is one of the world’s most recognized firms. Sony’s original PlayStation trademark remained to resonate throughout the electronics industry due to the leadership’s initiatives, but only for a limited time as it was phased out after several years of outstanding performance. As described in the suggestion, Sony’s administration must refocus their thoughts and efforts on developing innovative items that will boost the company’s brand while discarding those that do not help this endeavor. As can be observed, the original PlayStation product was marketed over the years owing to the board’s efforts and tactics. With intense competition, Sony must be creative with the subsequent release of newer models of the PlayStation.

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BusinessEssay . "Sony's Marketing Activities: Analysis." April 25, 2024. https://business-essay.com/sonys-marketing-activities-analysis/.

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The Sales and the Marketing Activities

Introduction, concept of sales and marketing, riordan manufacturing company, marketing mix of the company, business system of the company, reference list.

Sales and marketing are the life blood of an organization. It is only through the marketing activities the product of an organization reaches the ultimate customer or the end user. Sales and marketing have their origin from the time immemorial from the barter system. Effective and efficient sales and marketing divisions are precious assets to any organization.

Sales are the exchange of goods and services for money. It is a seller oriented process and it may not provide any value to the customers. The sale consists of creating awareness of the product, its specific features and the advantages to the customer and closing the deal by selling off the product. This does not concentrate on the particular level of the customer or the need of the customer. Sales is the “total dollar amount collected for goods and services provided.” (Sales: Definition, n.d., para.1).

Marketing is the promotion of goods and services to the customers by creating the need for the product and analyzing the needs and wants of the customer. Marketing is buyer oriented and it considers the customer values. “The Chartered Institute of Marketing defines marketing as ‘The management process responsible for identifying, anticipating and satisfying customer requirements profitably’.” (What is marketing?. n.d., para.2). “Philip Kotler defines marketing as ‘satisfying needs and wants through an exchange process’.” (What is marketing?. n.d., para.5).

Marketing depends on the four P’s.They are product, place, promotion and price.

Riordan manufacturing company is a plastic manufacturing company which was established in the year 1976. Its parent company Riordan is a fortune 1000 enterprise. It has nearly 550 employees with glorious growth in the past 25 years. It has its headquarter in San Jos. The main products of the company are beverage bottles, fans, automobile parts, appliances.They have different systems for planning and forecasting of budget related activities. The company’s main aim is production at a higher rate with reduced cost and improved customer service.

Marketing mix starts with product development. The company uses the help of past data and previously recorded information as the base for the design. It develops the prototype for sample testing. It has a separate wing for off shore contracts and reviews are done in such a manner that customer satisfaction is given priority. The second opinion on the product design is given a special consideration. Promotional activities of the company are very effectively performed with the experience in the industry. Channel partners or the distribution partners play a major role in the sales promotion activities. The company’s sales are through distributors, retailers and wholesalers. The focus of promotion is on discounts and industry visibility. The retailers are given a discount as promotion tactic; they are given a price break i.e. reduction in price while purchasing. Industry visibility is the gift to the channel partners as the token of motivation. Publicity is given through the channels, mail catalog and chain stores. Press release also contribute to product awareness and promotion.

Place is very important as far as sales is concerned. The company has its presence in multiple nations where awareness and utility of the product is very high. They have presence in almost all the major cities of the US and China.

Pricing of the company has much reduced effect. Pricing is a crucial part for the manufacturers. Price fixing is to be done with due consideration for profit, feasibility, availability and production efficiency. The company concentrates much on reduced cost by the analysis of the potential market and the purchasing power of the people.

The distribution channels : There are different channels in the distribution sector. The use of different methods and techniques contribute much to the company.

The Web policy : The online marketing has a major role in product promotion and it provides ease in buying the product online by the customers. The company keeps separate software for maintenance of data and the different kinds of transfer of products to the customers. It also keeps the data of the customers hidden to protect the privacy among the company and its customers.

Finance department : The finance department of the company has different functions. Its EDI system is helpful in accounting different kinds of transactions through the software as it finds the manual system of reporting obsolete and errors occur in the accounting process.

The marketing Services : The marketing department does continuous research on the target market, size of the potential market and the sales market. This department indulges in the development of internet market strategy. The main support provided by this department is on public relations.

The discussion on the sales and the marketing activities of the company gives the vivid idea of the essentiality of them in the company. The achievements of these activities result in the profitability and the success of the company.

Sales: Definition . Investor Words.com. Web.

What is marketing ?  Learn Marketing.net. Web.

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Marketing Activities and Channel Intermediaries Report

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Physical distribution

Planning and controlling of marketing activities.

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Marketing channels refer to all actions taken in transferring ownership of properties usually from the manufacturer through the distributor and to the final user. Marketing channels may be as short as involving the wholesaler and the consumer or may be very long involving a number of intermediaries such as vendors, retailers, distributors and off course the final user (Zahorsky, 2010, p. 1). A high number of marketing channels leads to a higher end cost to the final user because all the intermediaries involved have to be paid.

The most important aspect of intermediaries is the creation of time and place where products are always availed on time within the final customers’ reach. Most organizations use marketing channels to create a connection between production and consumption which does not only involve delivery of goods but many other aspects of transactions (Berry, 1996, p. 1). Marketing intermediaries provides customers with information concerning the products.

Distributors and retailers may conduct research on products from their production companies and make it available to customers. Most organizations use intermediate channels to promote their products mainly through offers with the most used channel for promotion being retailer shops. Business organizations can only contact their consumers through intermediaries especially the wholesalers and retailers who have direct contacts with the producers and the consumers (Keneth, 2010, p. 1).

This way, consumers’ response towards certain products can be evaluated. Marketing channels are used to make negotiations for organizations on prizes and other terms of sales and promotions. All intermediate channels physically transport and store goods for the production companies as the goods move towards the final users. Production companies do not suffer the cost of the distribution channels because it is paid for by the consumers (Hughes, 2008, p. 1).

This describes all the actual activities involved from the final production of products up to the end users. These activities occur within the distribution channels involved be it through wholesalers or retailers. Physical distribution involves a number of activities which are all aimed at offering quality products to consumers as well as transporting goods efficiently (McManus, 2008, p. 1). These components include: Customer service where business owners provide services for quality customer satisfaction.

For instance, a wholesaler selling computers may offer to deliver the goods to the customer’s door steps within 48 hours after ordering. It is therefore the duty of the physical distribution system in that wholesale to ensure that good once ordered are delivered to the customer within the shortest time as well as the lowest cost possible (Smith, 2010, p. 1). Transportation methods are very essential in physical distribution because it involves a lot of movement of goods all the way from the producers to the final consumers.

The major modes of moving goods by many businesses are air, water, rail and road. Air transportation is the most efficient where goods involved are perishable and have to be moved over long distances. However, this mode is quite expensive especially for small businesses. Many businesses are turning to water transport because it is cost effective however it is very slow therefore it can only transport the non perishable goods.

An efficient mode is rail due to its ability to transport bulky goods over long distances and it does not pollute the environment. Its only disadvantage is that it is not flexible. Many small businesses prefer road transport which is advantageous in door to door delivery and flexibility. This is the most used mode of transportation in physical distribution by many business marketers (William, 2008, p. 1).

Effective control of marketing activities is vital in achieving both organizational functions and marketing targets. The organizational form of marketing evaluation and control involves establishing standards on marketing performance, evaluating the actual marketing performance and taking corrective measures where necessary. Planning and controlling are always related because the plan states the aim of any business activity or what is expected to be accomplished (Miguel, 1988, p. 1).

A performance standard should be set on all marketing activities to enable the business organization evaluate the performance by comparing the standards to the real performance. Performance standards may include: increase in new customers or reductions in sale of faulty products which leads to customer complaints. Managers should always relate the performance standards to the organizations goals and objectives (McHenry, 2010, p. 1).

After the marketing activities are through, managers the compare the standards they had set with the actual marketing activities that have been performed. The marketing managers then determine whether the marketing objectives have been met or if there has been a variance between the performance and the set standards. If a variation has occurred then the managers evaluate the variance from which they can take control measures over the issue.

There are several ways in which marketing managers can control the variance in case of failure to meet the marketing standards. They may find ways of improving the real marketing activities or change the marketing standards. In improving the actual market performance, many managers use motivational methods on the marketing personnel or better yet effectively coordinate the marketing activities (Glennon, 2010, p. 1). For best results, most marketing managers use both methods to correct marketing activities.

Berry, T. (1996). Channel marketing moves goods from producers to consumers. Web.

Glennon, p. (2010). Place- the 3 rd p of Marketing mix. Web.

Hughes, R. (2008). Why marketing intermediaries are used by most organizations . Web.

Keneth, F. (2010) What Are The Functions of Marketing Intermediaries? Web.

McHenry, W. (2010). Evaluation and Control – Marketing Management. Web.

McManus, W. (2008). Logistics and Physical Distribution. Web.

Miguel, M. (1988). Marketing Information systems . Web.

Smith, R. (2010). International Journal of Physical Distribution and Logistics Management. Web.

William, M. (2008). Understanding Business. Web.

Zahorsky, D. (2010). Tuning In to Your Customer’s Marketing Channels . Web.

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IvyPanda. (2019, February 20). Marketing Activities and Channel Intermediaries. https://ivypanda.com/essays/marketing-channels/

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