MARKETING

Marketing

Introduction2

Concept and Process of Marketing2

Market Segmentation4

Product Positioning6

Selected Company - British Airways6

Marketing Mix of British Airways7

Product Mix7

Price Mix8

Placement Mix8

Promotion Mix9

Macro & Micro Environmental Factors Affecting the Marketing Decisions at British Airways9

Political Factors10

Economic Factors10

Social Factors10

Technological Factors11

Marketing Strategy of British Airways11

Market Development12

Target Segment12

Value Proposition13

Differences in Marketing Products and Services to Businesses Rather Than Consumers13

Differences in International Marketing and Domestic Marketing14

Conclusion15

References17

Marketing

Introduction

Success of every organization depends not only on the innovation of their products but the role of marketing cannot be avoided in the increase of sales. In other words, organizations need to focus on the importance of marketing in order to have their product better adopted in all segments with an equal perception (Chernev & Kotler, 2012). There are many businesses in the world that conducts business with different strategies and make strong efforts to gain success. Some companies invest enough to improve their operational capabilities, while some emphasize on enriching their culture and invest on training their people. However, there are also other strategies like effective marketing that allows companies to create product awareness, change the identity or perception of their product in order to target mass target audience, and increase sales that is vital for the success (Armstrong & Kotler, 2005). In fact, the role of marketing has become crucial in every business as it allows companies to bring their products into market through innovative marketing strategies (Lambin & Schuiling, 2012). This paper aims to discuss the concepts of marketing and its application on selected company chosen for this assignment.

Concept and Process of Marketing

Marketing is both an art and a science that allows the company to sell its products and customer loyalty in a market increasingly competitive (Wilson, 2009). In fact, Marketing is a management discipline that includes a system of thought, analysis and action. As a system of action, the marketing performs a number of tasks necessary for the functioning of a firm operating in a market economy based on voluntary exchange and competition (Kotler & Armstrong, 2010). The main purpose of marketing is to identify the human and social needs of consumers and respond it to generate revenue.

The role of marketing is to create a link between your company and the consumer. Marketing has a role in both action and analysis in the business. It is used to design and deliver products that will satisfy the consumer (Peter & Donnelly, 2010). Throughout the marketing efforts, a company should use all available and potential resources to sell its products or services to customers. Everything should be done thoughtfully and in a structured manner with an aim to achieve profitability. To create link between the company and its consumer, marketing should perform five functions (Henry, 2008):

Seek to understand and analyze the need

Plan and develop concepts for products or services

Provide consumers with relevant information on the product or service

Organize the transaction of property rights

Distribute the products or provide the services in their respective markets.

Thus, the marketing will begin with an analysis which will include a study of the needs and expectations of the target ...