Marketing Principles - 2043 Words

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of goods, services, and ideas to create exchanges that satisfy individual and organisation objectives. Marketing has many ways that products are sold. It includes advertising, selling and delivering products to people. Marketers try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general exposure in the media world. The process of developing, promoting, and distributing products to satisfy customers needs and wants. Marketing include 4 Ps for marketing mix that is product, place, price and promotion. Product is the good, which is the company want to manufacture. Place is the†¦show more content†¦But the company operates in a complex marketing environment, consisting of uncontrollable forces to which the company must adapt. The environment so that it can avoid the threats and take advantage of the opportunities. The micro- environment influences the organization directly. It includes suppliers that deal directly or indirectly, consumers and customers, and other local stakeholders. In this context, micro describes the relationship between firms and the driving forces that control this relationship. It is a more local relationship, and the firm may exercise a degree of influence. Micro-environmental forces are those that are very close to the organisation, and can directly impact on its ability to serve its target markets. This includes internal organisational forces e.g. resources, facilities and expertise and external forces e.g. customers, suppliers, marketing intermediaries and competitors forming part of the organisation s marketing system or closely impacting upon it. Macro-environment includes all factors that can influence and organization, but that are out of their direct control. A company does not generally influence any laws. It is continuously changing, and the company needs to be flexible to adapt. There may be aggressive competition and rivalry in a market. Globalisation means that there is always the threat of substitute products and new entrants. TheShow MoreRelatedMarketing Principles1212 Words   |  5 PagesMarketing principles: Task 2 2.1 Explain how the vacuum cleaner is developed to sustain a competitive advantage. To sustain competitive advantage for any company so for ACL company developing new vacuum cleaner was an important step. 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