Marketing Fundamentals Assessment 1

This assignment, titled 'Marketing Fundamentals Assessment 1', explores key marketing concepts including production, product, selling, marketing, and societal marketing. It analyzes how these concepts apply to The Body Shop and discusses the importance of marketing for their ethical and sustainable business goals. The assignment also reflects on the student's evolving understanding of marketing after studying the subject.

Marketing Fundamentals Assessment 1 (Part A)
A)
Marketing Concepts
The are five different concepts of marketing. The marketing concept is the attitude
that business decisions should be based on what the customer wants. The
marketing concepts have evolved in past years from the production concept to the
marketing concept.
1. Production concept Companies that use this concept believe customers
want products that are easily accessible and affordable.
2. Product concept The most important priority for customers is the quality of
the product.
3. Selling concept Assumes that customers are looking for aggressive sales
and promotions from companies.
4. Marketing concept Customers want to see the product meet the their
wants and needs more than the competition.
5. Societal Marketing Company should make marketing decisions by
considering consumers wants, the company's requirements, and society's
long-term interests.
The Body Shop is customer focused business and they are constantly launching new
products.
(The Body Shop About Us 2017)
Marketing Process
6. UNDERSTAND customer needs and wants
7. DESIGN customer driven marketing strategy
8. CONSTRUCT integrated marketing program
9. BUILD profitable relationship
10. CAPTURE value from customers
Customers are the focal point of the all marketing activities. It is all about satisfying
customers needs and wants.
B) Why is Marketing important to your chosen product, service, company
or institution?
My chosen company is The Body Shop, a British cosmetic and skin care company.
The Body Shop was founded 1976, when the story of the company began it was one
of the only ethical brands in the market.

Marketing is very important to The Body Shop because competition in natural (and
ethical) cosmetics market is growing bigger and bigger every year. The company
launched an ambitious plan about a year ago. The plan is to become “the most
ethical and truly sustainable global business”. This marketing action includes the
philosophy “Enrich not exploit”, the company wants to be even more sustainable
than before. For example the company is going to develop new packaging that
doesn't contain any fossil fuels and also redesigning the stores that they will be
more eco-friendly.
(http://www.thebodyshop.com.au/our-commitment#.WLz0ahir2b8)
C) Discuss briefly how these insights have changed your original
perception of what Marketing was before starting this subject.
Before starting this subject I had some perception and basic knowledge of
marketing considering my past studies and work experience. I was aware that
marketing is much more than advertising or promoting etc. After few classes and
different kind of point of views my perception has change a bit. I'm sure my
perception will change more and more after every class.
References
Hetherington V. (2017) MKT101A: Marketing Fundamentals week1 notes
(powerpoint slides).
Retrieved from https://laureate-au.blackboard.com/
APA (American Psychological Assoc.)
BPP Learning Media, (. (Firm). (2013). Marketing Principles : Course Book. London:
BPP Learning Media.
MLA (Modern Language Assoc.)
BPP Learning Media, (Firm). Marketing Principles : Course Book. vol. Third edition,
BPP Learning Media, 2013. Business Essentials. EBSCOhost.
The Body Shop About Us.
www.thebodyshop.com.au/about-us (2017)
Faull J. (2016) How marketing will help The Body Shop become the world's most
ethical and sustainable brand.
http://www.thedrum.com/news/2016/02/22/how-marketing-will-help-body-shop-
become-worlds-most-ethical-and-sustainable-brand

Feedback
In part B Mei Henrika has provided detailed learning in respect to the marketing concept
and its significance to the company. Along with this, the concept significance is also being
discussed effectively in regard to product, service. It provides me learning linked with the
marketing of selected organization. It reflects that marketing significance for Body Shop is well
discussed in part B. As in Part C, Meri Henrika has also provided detailed insight in regard to the
marketing perception. Insight provided helps in advancing the knowledge. It creates a positive
impact on the learning aspects.