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Compose a 2000 words assignment on marketing as the most important aspect of every business. Needs to be plagiarism free!
Compose a 2000 words assignment on marketing as the most important aspect of every business. Needs to be plagiarism free! Customers determine the success or failure of a product or service which demands that the marketing strategies must be customer focussed. But customers are different from country to country, region to region, religion to religion, etc. In other words, they are different culturally, socially, economically, politically and geographically and the marketing strategies cannot be unique everywhere even if the same product or service is being marketed. Marketing is a science that needs a lot of analysis and researches to arrive at conclusions. It is not possible to market a product everywhere using the same marketing strategies because of the difference in the market everywhere.
“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” (Definition of Marketing). Communication is a vital function of every marketing technique. If proper communication does not occur between the marketer and the customer, it is difficult to achieve results. In order to effectively communicate with the customers, the marketers need to identify the nature of the market, size of the market, characteristics of the customers, etc. Based on the above knowledge, marketers need to integrate communication strategies with customers. This paper briefly explains the need for integrated marketing communications in order to market a product effectively.
Nature of marketing and its role within the business
“Marketing has a marketing mix that is made of price, place, promotion, product (known as the four P's), that includes people, processes and physical evidence when marketing services (known as the seven P's)” (Marketing Teacher, 2009).
The price of the product or service is an important factor in the marketing process. Nobody will purchase a product if the product has a substitute with less price. The marketers while deciding the price of their product should consider the price of the competing products in the market also before fixing it. The price of the product or service is an important factor in the marketing process. .
