PRINCIPLES OF MARKETING

Principles of Marketing

Principles of Marketing

Introduction

Marketing is a branch of economics that deals with the descriptive study of the market and market analysis and user interaction with the company. The term originates from the word market, added to the ending of the gerund to indicate the active, i.e. the action on the market (Kotler, et.al. 2010, 7-17). In marketing, the most important is the awareness that the client and his expectations of the most important element of business (if there are no customers, the company loses in the economic state) and the result of this awareness process for identifying and meeting customer needs - while providing profit company and the continuity of its operation. In order to achieve this, the techniques used to assist this process are market research, product development, impact on the market, pricing, sales (Kotler, et.al. 2010, 7-17). This paper gives an overview of the principles of marketing.

Thesis Statement:

The basic foundations of marketing throughout the world are the principles of marketing.

Discussion and Analysis

In marketing, one can distinguish a number of issues (through application of principles of marketing), such as:

Finding and assessing opportunities for the market, leading to the needs of customers (buyers) and the exact determination of these needs;

Development on the basis of this knowledge of the product and its distribution strategies;

Preparing an appropriate strategy and price promotions, and

Advertising and product information, such as viral marketing, product placement.

An organization, that wants to ensure that, consumers have a vision and positive opinion of it and its products, must manage the product itself, its price, its relationship with customers, suppliers and their own employees, advertising itself in various means and media, the presence in the media (public relations, etc.). Marketing experts agree that there are four factors that influence purchasing decisions. We call these four factors the “marketing mix” or the “four P” (Brassington & Pettitt, 2006).

Product: What are you selling?

Price: How much can you charge for your product?

Place: Where will people buy your product?

Promotion: How will you market your product?

The success of these four elements strongly influences the income of your business (Kotler, et.al. 2010, 7-17). Principles of Marketing is the basis of marketing activities, which define the necessary activities for all participants cycle of creation and implementation of the product. Marketing principles will make the process coherent and consistent.Marketing principles are the basis of the marketing activities of any company and are based on patterns of global and regional market.

In traditional theories of marketing materials to identify the following principles:

Goods and services produced by the company to best meet customer demands, market conditions and opportunities of the company;

Meeting the needs of the buyer shall be in accordance with the modern technical and artistic level of goods and services;

The company must conduct its business in the market at the right time and as efficiently as possible;

Implemented the goods and services must be constantly updated, and the company should encourage and create new customer needs;

To ensure timely response to changing demands, company should combine strategic ...