Concept of Marketing Essential Report
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Added on 2020-07-22
Concept of Marketing Essential Report
Added on 2020-07-22
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Marketing essential
Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1Concept of marketing and its trends. ..........................................................................................1Overview the different market process.......................................................................................2Key responsibility of the manager of Mark ans Spencer............................................................3How marketing influences and interrelates with other functional departments..........................4Importance of marketing role in context of Mark and Spencer..................................................5Importance of having Effective interrelationships between different functional departments...6CONCLUSION................................................................................................................................6REFERENCES ...............................................................................................................................7
INTRODUCTIONThe term marketing refers to the management of exchange relations. Market is generallyuse to frame, keep and satisfy the customers as they are concentrating of activities. This is themajor and core components of business managements. Generally marketing the process ofpromoting business products and services to target market or customers. A manager is the personwho are able and have capacity to arranges the elements of business and make them runsmoothly they has responsibility for controlling and administrating organisation and employees.The Mark and Spencer is British multi national industry that is a retailer and had headquarter inLondon. This assignment has covers the roles of managers with concept and over of market andprocess (Kennedy and Parsons 2014). It also show some influences of marketing on othersdepartments. Along with importance of marketing. TASKConcept of marketing and its trends. The concept of marketing is coming with a clear goal which takes account a costefficiency and effectiveness, social responsibility and sustainability in a particular market.Market concept is the process that works in order to gives satisfaction to company's objective,where organisation are looking out for that tool who are able to anticipates the wish and wants ofcustomers and satisfy them more effectively them competitor.Marketing is the major challenge in current condition of the market to capture theattentions of the customers. Simply a marketing is the process with having some steps aspromoting, creating and delivering product in market to target customers. It is an action took tokeep attention to business offering and providing. As is can be physical product for sale.Common example of marketing at organisation is involves television advertisements, billboardson the side of roads and advertisement in magazine. The marketing concept has four major parts as product , product, selling, marketing concept,description as: product concept: This concept holds that customers will took favour the goods whichare offers quality with innovation features and performance. Here marketing plan are concern inmaking continuous progress in products (Lane 2016).1
Production concept: The idea of this concept is consumer will go with those productswho are available and highly affordable. This is the oldest framework of marketing managementthat provides guidance to sellers. Here this concept are focusing on improving the production anddistribution efficiently.Selling concept: the frame of selling is holding a idea that buyers will not purchaseenough of the firm's goods unless it took large scale selling and high promotional efforts. Themanager of sales departments are concentrating on framing sales transaction apart then creatinglong term and profitable customers relations. In general terms this concepts says that companyhas aim to sell its product rather then what market wished to have.Marketing concept: This covers the attaining organisational objective that depends onknowing the wants and wishes of target customers and delivering the desired level of satisfactionthen competitors. Here marketing concept are taking customer first approach. It keep its focuseson customers and provides values to routes to having sales profits (Nguyen and Simkin 2012).This concept is customer centred also relay on sense and respond philosophy. The main thing isin marking it is not job to search out the right buyers for framed product but to find rightappropriate product for customers. Marketing trend:relationship marketing: this was developed to answers directly and based on buyerssatisfactions and relation rather then level of sales are required. This is related to making shortterm arrangements when two parties are transacting and have interest in offering more suitableexchange.Industrial marketing: this trend happens where person sell his product to othercompany to resell them in market and use them later make other stuff or improve quality of thegoods. The main reason for this trend is technical revolution ( Desai.2013).Societal marketing: the main duty of the company is to identify the wish need anddemand of target buyers and delivers satisfaction in more sufficient manner. It has relation withcorporate social responsibility cause public welfare is importance. Overview the different market process.The company needs to identify the needs and wants of customers also trying to satisfyingthem through following a process. Every firm has its own marketing process that starts with2
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