UNDERSTANDING PRINCIPLES OF MARKETING

Understanding Principles of Marketing



Table of Contents

Part 1: Essay3

Different Marketing Orientations:4

Marketing shaping consumer needs and wants:5

Part 2: Article7

Internal Marketing:7

Corporate culture:9

Marketing approach to human resource management:9

Delivery of information on the purpose of marketing to the team:9

System of promotion:10

Socially Responsible marketing:10

Integrated marketing:12

Relationship Marketing:13

Part 315

Company Overview:15

Marketing Objectives:15

Target Market:15

Market Segmentation:16

Economic Profile:16

Age Groups:16

Professional Classification:16

Marital and Familial Status:17

Ethnic and/or Religious Classification:17

Market Targeting:17

Economic Profile:18

Age Demographics:18

Market Positioning:19

Assessment of one of Costa's main marketing mix (Product):20

Costa's Brand name:21

Luxury and Comfort:21

Colour Scheme:21

Service:21

Market Attractiveness:22

Strategic Planning:22

Future Promotion and Expansion plans:23

Analysis:24

Recommendations:25

Conclusion:25

References26

Understanding Principles of Marketing

Part 1: Essay

There are several possible definitions of marketing. The main definition is by Philip Kotler, who is unanimously recognized as the father of the most recent developments in the field. According to him, Marketing is defined as a social and managerial process designed to meet the needs and demands through the creation and exchange of product and values. It is the art and science of identifying, creating and delivering value to meet the needs of a target market, making a profit: delivery of satisfaction at a price (Kotler, 2008, Pp. 2-4).

However, other definitions have been proposed. For the purpose of this essay the most relevant definition is the one given by Russell Winer “Marketing: the set of activities that aim to influence the choice of a consumer or customer” (Winer & Dhar, 2010, Pp. 5-8).

The main objective marketing is to promote exchanges between two parties who both get benefited due to the exchange. According to Philip Kotler, exchange means “the act of obtaining a desired product from someone else”. To produce, it is necessary to take five conditions (Lamb, Hair & McDaniel, 2011, Pp. 3-4):

There must be at least two parts.

Each party must have something that represents value for the other.

Each party must be able to communicate and deliver.

Each party must be free to accept or reject the offer.

Each party must believe that it is appropriate.

The marketing term also refers to a function or functional area of ??the organization: the marketing area, commercial area, the marketing department, and so on. An organization that wants to ensure that consumers have a vision and positive opinion of the firm and its products, the it must manage the product itself, its price, its relationship with customers, with suppliers and with their own employees, advertising itself in various media and support, the presence in the media (public relations), etc.

Different Marketing Orientations:

Different orientations or approaches to doing business have emerged in history and in the context of trade. These approaches are still present in some industries and markets, even some authors recommend (depending on the situation) using any of these approaches in particular.

Product orientation: It occurs in cases where the market is new or is dominated by a single bidding company (monopoly). The company does not care about sales, because the insured has, and his business is confined exclusively to improving the production process.

Sales Orientation: When the market is expanding and there are several companies fighting for your domain, your effort is focused on increasing ...