MARKETING

Principles of Marketing



Principles of Marketing

Introduction

Companies keep seeking for ways to gain an edge to amplify their market share and margins of revenue. To gain such a perimeter, businesses expend too much in order to study all that the consumers do and think over. Effective marketing is all about manipulating consumers to control their buying decisions.

Marketers need to persuade the consumers about what they are selling in various ways. This should be done in manner that is way above all other marketing strategies. They should be able to encourage their consumers and amend their views and decisions. Interaction happens when a customer exchanges information with an organization in order to expand associations of learning. The accomplishment of customer relationship marketing can work about via competence of the boundary that links the customer with the organization.

Marketing is an integral function of an organization and without it an organization cannot thrive or even survive. It has a lot of elements involved within it. It is a combination of several activities that amalgamate together to form a marketing mix. If the marketing mix is successful the product will be successful and the organization will churn out good profits.

Discussion

An Organisation's Micro-Environment Is Different From Its Macro-Environment

The term micro-environment includes all those elements on which the firm of marketing would not have control over. This the marketers use to obtain as much information as possible which will help them within the marketing operations. These are those elements which can easily be controlled, or applied to collect information, for providing much better satisfaction to the customers of the company. The main objective of marketing is to churn out maximum profits by satisfying the customers whom you are targeting. This is accomplished through the management of variables n which the company has all control over in such a way as to get most out of their own objective. These variables form the marketing mix which includes the product, price, place and promotional strategy. The marketing mix is an amalgamation is of all the 'ingredients' within a 'recipe' that is considered to be what will bring most customers to get involved in the process.

The term macro-environment includes all elements and forces which are external to the marketing firm. Most of these elements will influence the operations of the firm like a firm's suppliers, agents, distributors and other intermediaries and firms with which it has direct competition. These external forces or elements collectively are termed to be the firm's adjacent macro-environment to as they need to be differentiated from the wider external forces like the legal, intellectual, monetary and technological sub-environments.

This includes of people, organizations and services, which come under the immediate environment of the firm. Of much significance to marketing firms are those external environments which include suppliers, competitors and distributors . Though they are external but they also can have a major effect on the running of the upon the marketing firm.

These Environments Do Affect Marketing Activities

It is very important for an organization to identify its opportunities ...