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TASK 1A 4 Process and stages of marketing

   

Added on  2020-12-30

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MARKETING FUNDAMENTALS
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Table of ContentsINTRODUCTION...........................................................................................................................4TASK 1A.........................................................................................................................................4Process and stages of marketing.............................................................................................4The role of marketing in creating value for customers...........................................................8Stakeholder engagement and their impact on the marketing activities..................................9TASK 1B.......................................................................................................................................10Reflection of tactical communication tools..........................................................................10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTION Marketing refers to a process of delivering goods and services to the customers. It helps acompany in maintaining the relationship with existing and potential customers by offering themgoods and services as per their needs. Fundamentals of marketing includes various stages such asconducting market research, segmentation, targeting the customers, designing marketing mix etc.Nike Inc. is a company that deals in manufacturing, sales of equipment, footwear etc. (Ang,2018). The headquarter of company is located at Oregon, U.S. The company was founded on 25thJanuary, 1964 by Bill Bowerman, Phil Knight. The Report will outline process of marketing, roleof marketing, impact of shareholders, reflection of communication tools etc.TASK 1A Process and stages of marketingMarketing is activity of firm which encourages relationship building and managingcustomer satisfaction. Process of marketing includes analysing the marketing environment thatincludes micro and macro environment through different models, conducting market research forsegmenting, targeting and positioning, developing marketing mix etc. Nike applies SOSTACmodel for conducting planning of marketing for the goods and services of the company.Marketing environment includes different forces that impacts the working of an organization(Awan, 2015). However, Situational analysis Nike will perform SWOT analysis for determiningthe strengths, weakness, opportunities and threats for the company. The tool is chosen because ithelps the firm in managing business changes and uncertainty of marketing environmental factors.
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