Marketing Fundamentals- Assignment

Added on - Dec 2020

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MARKETINGFUNDAMENTALS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1A.........................................................................................................................................1Evaluate process & stages of marking along with marketing mix role.......................................1Role of marketing in creating value for customers.....................................................................3Stakeholders engagement and it's impact on marketing activities..............................................4TASK 1B.........................................................................................................................................5Concluded essay on the basis of tactical communication tools..................................................5CONCLUSION................................................................................................................................6REFERENCE...................................................................................................................................8
INTRODUCTIONMarketing fundamental refer to create value for the consumers and develop loyaltyregarding their products & services(Baines and et.al., 2017). It will include the process of wherenew business identify the market or consumer's demand and then target according to it. Majorpurpose of marketing is to identify the need and build various strategies to implement in thebusiness environment to satisfy their customer or achieve their business goals & objectives. Tobe understand better, this report choose ESTEE LAUDER which is multinational manufacturingcompany of beauty or skin care items. This report include the process & stages of marking alongwith role of marketing mix. In addition, it include the how marketing create value for customersand engage with stakeholders. It also include the impact of stakeholders on marketing activitiesof an organisation.TASK 1AEvaluate process & stages of marking along with marketing mix roleProcess of marketing will help organisation to think in strategic way where they have todevelop various strategies to identify market as well as customer demand. For this, manager ofESTEE LAUDER company adopt different marketing theories along with this follow properprocess which include the various stages. By following these stages company can developmarketing strategies for the achievement of their goals & task. There are 5 stages included in thestrategic marketing process which provide success to the ESTEE LAUDER to create valueamong the customers and increase loyalty (Process & stages of marketing,2019). First stage ofmarketing process it to set mission for the organisation such as to achieve better quality ofproducts with regular improvement in their production like innovation. Mission statement helpthe stakeholders to identify the purpose of their existence. For example ESTEE LAUDERcompany's mission is to work with their family for the longer time along with ethics & integrity.Provide innovative high quality product to their consumers which can satisfy them and developlonger relation with them. So basically mission statement help the stakeholders to identify thepurpose of existence(Barile and et.al., 2012).Second stage include the situational analysis where organization determine the internal aswell as external factors which affect the ESTEE LAUDER and it's production function. Internalfactors include the strength & weakness which is measure by the manager of the company.1
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