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Marketing Management- Assignment

   

Added on  2020-05-11

10 Pages2035 Words161 Views
Data Science and Big Data
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Running head: MARKETING MANAGEMENT1Marketing ManagementName Institution
Marketing Management- Assignment_1

MARKETING MANAGEMENT2Table of figuresFigure 1.......................................................................................................................................................5Figure 2.......................................................................................................................................................5Figure 3.......................................................................................................................................................9
Marketing Management- Assignment_2

MARKETING MANAGEMENT3Marketing ManagementQuestion 1Marketing is the process through which goods and services are produced in any organization and introduced and continually promoted to consumers. Marketing is an activity that should be at the heart of every business. Any organization that employs sound marketing strategies will be able to enjoy increased sales in the short or long run. The umbrella of marketing covers activities such as advertising, promotions, public relations and sales (Scott, 2017). A business that does not market its products, even if it may be offering the highest qualityof products in the entire industry, potential customers would not be aware about that and will consequently not purchase the products.Marketing is vital because it gets the word out about the existence of products, therefore leading to high sales and increased profits. Additionally, it enables a business to establish itself as a brand. One model that should be closely considered when carrying out marketing activities is the Product Life Cycle Model(Pulizz, 2013). This model shows the different stages that occur since the introduction of a product into the market until the product’s life ends. During the introduction stage, the new product is unknown and it is very important to carry out marketing activities to inform potential customers on the existence of the product. When the products are in the growth stage, this means that the sales are gradually increasing. Here, marketing is important because this is the stage where the product is establishing itself as a brand. It is paramount to inform the existing and potential consumers the benefits and unique features of the products to increase sales.
Marketing Management- Assignment_3

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