MARKETING ASSIGNMENT

Marketing Assignment



Marketing Assignment

Marketing Management

Marketing Management is the business discipline that focuses on practical application of marketing techniques and management of marketing resources of the company and its activities. Rapidly emerging forces of globalization have forced companies in market beyond borders of their country of origin by major international marketing and an integral part of marketing strategy of the company. Marketing managers are often responsible for influencing level; timing and composition of customer demand accept definition of term. In part this is because role of the marketing manager can vary significantly depending on company size, corporate culture, and context of industry. For example, in the large consumer Products Company, marketing manager can act as global general manager of assigned product To create an effective marketing strategy cost-effective management, companies must have the detailed knowledge and goal of his own business and market in which they operate. In analyzing these issues, marketing management discipline is often confused with related discipline of strategic planning.

If company has obtained an adequate understanding of customer base and its own competitive position in industry, marketers are able to make their own key strategic decisions and develop the marketing strategy designed to maximize revenue and Profits Company. Chosen strategy can aspire to any of the variety of specific objectives, including optimization of short-term unit margins, revenue growth, market share, long-term profitability, and other objectives.

To achieve desired objectives, marketers often identify one or more targeted customer segments they intend to perform. Customer segments have been selected as targets because they score high on two dimensions: 1) segment is attractive to serve, as it is large, growing, makes frequent purchases, i.e., price is not sensitive ( is willing to pay high prices), or other factors;. and 2) company has resources and capabilities to compete for business segment, can meet their needs better than competition, and can do so profitably Indeed, the commonly cited definition of marketing is simply " meeting needs profitably. "

Implication for selection of target segments that business is then to allocate more resources to acquire and retain customers in target segment (s) of what will be for other clients, not specific. In some cases, company can go so far as to turn away customers who are not in your target segment. elegant doorman at the nightclub, for example, may deny entry to persons unfashionably dressed because business has made the strategic decision to target "high fashion" segment of customers in the nightclub.

In relation to objective decisions, marketing managers identify desired position Want Company, product or brand to occupy in mind of target customer. This position is often an encapsulation of the key benefit offered by company product or service that is different and superior to benefits offered by competing products. For example, Volvo has always placed its products in automotive market in North America to be perceived as the leader in "security" while BMW has traditionally positioned its brand to be perceived as leading "performance."

Market Orientation

Orientation of organization with marketing concept is known ...