An Introduction to Marketing Concepts - Marketing Essay Example

Abstract
In this paper, the author presents an understanding of the concepts and areas of marketing and its importance to a business - An Introduction to Marketing Concepts introduction. Since marketing is a very big topic, the author had discussed the basic things to consider in marketing strategies, a brief discussion of supply and demand and the steps of making marketing plan.

Introduction

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The success of a business depends on how good they are of service to the people and the quality of the products that they sell. More to that, a good marketing team that makes all the talking and effort to market the business’ product to the people has a big contribution to a business’ growth as well.

Marketing is a general term used to describe all the steps that lead to final sales. Through this definition, we can see that marketing is more than just selling the product and without it, even the best businesses may fail. [1] This is also a reason why business organizations have a sole department for it aside from the other departments that they already have, because its main focus is to sell the product, acquire new clients and give better sales.

For a business, knowing the broad world of market and its demands is a back breaking task. It takes a lot of patience, time and dedication to master it for application. Certain studies were generated to discuss the different demands of the market and the strategies that people can use to help their organization maintain its competitive status at the world market. Through this paper, we shall try to summarize all of the things that we should consider in selling our products and going in public.

So how would a business be successful through selling? This is by having a good understanding of marketing and its concepts.

Marketing

As stated in the Introduction, marketing involves in getting the products to the customer to have better sales. With proper marketing implantations, the organization will gain its overall objectives like:

1.) The Corporate Objectives that includes the growth of the company.

2.) The Marketing Objectives that concerns about the market share of the company.

3.) The Production Objectives which affects the production’s goal to produce better number of products for the market.

4.) The Distribution Objectives that involves the status of the company in terms of all aspects of delivery and distribution.

5.) The Promotional Objectives that is the awareness of the market to the company brand.

6.) The Pricing Objectives which is regarding the price of the company’s product in the market.

All of these objectives affect a company’s overall sales, market share, market status, customer satisfaction, customer awareness, customer retention, distribution penetration and product launches.[2] Getting the people to consider all of these works involves great teamwork, planning and strategy to make a company acknowledged by the people and the market. It is so crucial that marketing’s involvement in all company’s transaction should be maintained and monitored at all times.

Importance of Marketing

Aside from all the effects of marketing in a business that we’ve discussed, good marketing results to good evaluation of the company’s capacity to provide service to the customer through the products/service that they sell, thus awarding the company the trust of the clients and better standing in the world market.

The only thing that all should remember in marketing is that, it does not stop. Since all companies have reputations to maintain, marketing people should have a serious outlook in business plans in decision making.

Marketing is not an event, but a process . . . It has a beginning, a middle, but never an end, for it is a process. You improve it, perfect it, change it, even pause it. But you never stop it completely. [3]

 

The Concept of Marketing

The concept of marketing had evolved through time. In today’s business world, the thing that matters more is the customer although not all business accepts this kind of concept. Aside from this orientation, let us examine the following:

a.)    Production Oriented: This kind of orientation focuses on the profit of the business rather than the needs of the customer through selling products with fewer prices through mass production.

b.)    Product Orientation: Wherein the company believe on its product’s quality and features and the customer’s support.

c.)    Sales Orientation: It focuses on just making the product and selling it to the market although the risk involved in this orientation is that not all the time, the customers may like the product being sold to them.

d.)   Market Orientation: This however puts the customer as the main priority of the business. The company analyzes and understands the customer’s needs through appropriate research methods. Process methods are developed and implemented from these studies to ensure customer satisfaction.

Mr. Orvel Ray Wilson also agreed in his statement:

Customers buy for their reasons, not yours.[4]

Sometimes sellers pay more attention to the specific products that they offer than the benefits and experience produced by the products. In this orientation, they focus more on the “wants” rather than the “needs”. This kind of business strategy being implemented to acquire more customers, marketing that they sell what the customer’s wants.

In today’s competitive world putting the customer at the heart of the operation is strategically important. Whilst some organizations in certain industries may follow anything other then the market orientation concept, those that follow the market orientation concept have a greater chance of being successful.[5]

The Supply and Demand (Pricing)

Another thing that marketing should consider is Pricing. The study of pricing is done through the supply and demand.

The supply and demand depends on pricing. If the price is high, the producers might sell more products but the consumers would buy less. On the other way around, the consumers would buy more products if the price is low and the producers may sell less because of its high demand in the market. When the amount of the products being sell by the producers are same with the demand of the consumers, then the market is in its equal equilibrium. [6]

Such considerations should be considered and understood well by the producers and consumers in able to balance the market supply and demand of products. Quality and price should also be considered as well in order to achieve good standards transaction and relationship between costumers and suppliers.

 

Marketing strategies

Since analyzing for what the customers want and what the suppliers can provide requires a lot of meetings and brainstorming. People of the marketing department should know how to formulate certain strategies and marketing plans. A marketing strategy is a set of actions, policies and procedure for implementation to help an organization achieve its goal in marketing. This includes, advertising, digital marketing, POS, broadcasting and more.

Decision making for marketing concerns the four Ps:

a.)    Product

b.)    Place/Distribution

c.)    Promotion

d.)   Pricing[7]

Before the marketing people or a business owner can make decisions, he/she must first

have a plan first. Planning is very useful in making decisions because it provides guidelines and guidance to what a business should do in certain situations that they are in. There are different unique marketing strategies that a business can use like:

a.)    Strategies based on the market place – that concerns about the status of the company in the market.

b.)    Porter generic strategies – that involves a study about the different sides of the strategic scope and strategic strength of the company in terms of cost leadership, product differentiation and market segmentation.

c.)    Innovation strategies – that concerns about the company’s room for improvement.

d.)   Growth strategies – are ways to analyze to help the company grow.

e.)    Marketing warfare strategies – are kinds of strategies that apply the principles of military strategy to business situation.[8]

f.)     And more

During brainstorming, marketing people can also use Strategic Models in analyzing such

as the Ansoftf Matrix and the 4P.[9]

 

Steps to Marketing Planning

Planning is expected to take time and it requires proper knowledge to come with a good marketing strategy. In regard to this study, the author presents the different guidelines that all marketing teams should consider in making decisions:

1.)    The Mission Statement of The Company– The people should know the mission of the company and why it exists. Marketing decisions and strategies should be done accordingly to the company’s mission or else, conflict among people will arise regarding the decision’s implementation.

2.)    The Company Objectives – These are the objectives that the organization wants to achieve like its profit, stability and more.

3.)    Competitive Strategies – These strategies are created to overcome a fellow competitor in the market.

4.)    Marketing Objectives – These objectives as stated in our introduction is designed to achieve the overall objectives of the company.

5.)    Marketing Strategies – As stated in our previous discussion as the outline of the things to do in marketing.

6.)    Marketing Programs – the approaches of marketing like promotions and more.[10]

Decisions made and implemented cannot be undone. That’s why it all decisions must be implemented with complete understanding and caution. Marketing should be done seriously because it can make any company’s dream come true or make a company live a nightmare.

 

 

Conclusion

The concepts of marketing is understanding the essence and role of marketing as a part of any business, the creating of plans in marketing, the different marketing strategies and the things to consider in marketing decisions and mastering the craft of selling to gain better sales for the company.

Through this study, the author realizes that marketing keeps a business alive by making it present in the market through their promotions and advertisements. Better marketing reflects the management level of the company and the knowledge of its production. If a business, doesn’t know how to market their product, people would look for other company.

Marketing should not be considered as a slackly job. This study shows that marketing as like other departments is crucial to a business success.

 

 

 

 

 

 

 
References
Chowdhury, Azraf Anam, Introduction to Marketing Concept, <http://bbamba.info/index.php/Marketing/Introduction-to-Marketing-concept.html> viewed on

 

February 5, 2008

Marketing Concepts, < http://www.agmanager.info/agribus/busdev/valaddref/marketing.pdf> viewed on February 5, 2008

 

Marketing Objectives

< http://tutor2u.net/business/presentations/marketing/marketingobjectives/default.html> viewed on February 6, 2008

[1] Adapted from Reference Guide for Kansas Food Processors, Kansas State University and Kansas Department of Commerce & Housing, July 1998.
[2] http://tutor2u.net/business/presentations/marketing/marketingobjectives/default.html
[3] Personal Statement by Mr. Jay Conrad Levinson <Motivational Quotes: Marketing and Advertising, http://www.museummarketingtips.com/quotes/quotes_ac.html >
[4] Personal Statement by Mr. Orvel Ray Wilson <Motivational Quotes: Marketing and Advertising, http://www.museummarketingtips.com/quotes/quotes_ac.html >
[5] http://www.learnmarketing.net/orientations.htm
[6] http://en.wikipedia.org/wiki/Law_of_supply_and_demand
[7] Adapted from Reference Guide for Kansas Food Processors, Kansas State University and Kansas Department of Commerce & Housing, July 1998.
[8] Marketing Strategies, Wikipedia: The Free Encyclopedia

< http://en.wikipedia.org/wiki/Marketing_warfare_strategies > viewed on Febraury 5, 2008
[9] Marketing Strategy, Wikepedia: The Free Encyclopedia <http://en.wikipedia.org/wiki/Marketing_strategy> viewed on February 7, 2008
[10] Adapted from Reference Guide for Kansas Food Processors, Kansas State University and Kansas Department of Commerce & Housing, July 1998.

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