Marketing and Management

This article discusses the impact of marketing forces, including Porter's Five Forces, on marketing strategies. It also explores how to gain deeper insight into brands and products through market segmentation and advertising. The importance of evaluation and communication is also highlighted.

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Marketing and management
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MARKETING AND MANAGEMENT
Table of contents
Impact of the marketing forces........................................................................................................2
A deeper insight into brands and products......................................................................................4
References........................................................................................................................................8

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Impact of the marketing forces
Marketing is a vast concept, which includes the transactions between the buyers and
sellers. Both the buyers and sellers need to maintain appropriate approach towards each other for
satisfying the identified goals and objectives. Consideration of the marketing legislations helps
the buyers and the sellers to conduct the marketing activities in an efficient and effective manner.
Typical examples in this direction are Consumer Protection Act, competitive policies among
others (Armstrong et al. 2015).
The first step of marketing is the development of strategies and plans. These strategies
help the marketers to expose appropriate approach towards the buyers. On the contrary, this
strategic vision helps the buyers to exercise their purchasing power for purchasing quality and
branded products. The sellers need to provide the customers with enough opportunity to exercise
their purchasing power. This is in terms of assessing their mentality towards the steps undertaken
by the sellers. For this, the sellers need to possess enough financial flexibility in terms of
aligning with the altering needs and preferences of the customers (Menon et al. 2015).
There are certain market forces, which act as an obstacle in the attempt of the sellers in
terms of reaching to the customers. Herein lays the appropriateness of the Porter’s Five Forces.
These forces are- bargaining power of the suppliers, bargaining power of the customers, threat of
substitutes, threat of new entrants and competitive rivalry. Out of these forces, three main forces
are threat of substitutes, threat of new entrants and competitive rivalry, which adversely affect
the efficient execution of the marketing activities.
Threat of substitutes reflects the gradual emergence of the startup companies in terms of
expanding the scope and arena of their business (Wagner and Eggert 2016). On the other hand,

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this threat acts as a compromise with the needs and demands of the customers in terms of
possessing quality products. Ignorant attitude of the company and organizational personnel
would add vulnerability in the market position. For averting these instances, the personnel need
to put on their thinking caps for coming out with something innovative. However, in order to
bring innovation the personnel need to expose a conscious approach towards the maintenance of
the originality. This consciousness would prove beneficial for the personnel in terms of
encountering the advent of change in the threshold of the workplace (Leonidou et al. 2017).
Threat of new entrants reflects the experimentation of the startup brands in terms of
achieving a better placement in the market. This experimentation is a matter of serious concern
for the already established brands. Herein lays the importance of the competitive policies, which
helps the personnel to indulge into fair trades and transactions with the contemporary brands.
Adherence to the standards of these policies helps the buyers to avert the instances of illegal
scandals. Non-compliance with the standards of the competitive policies compels the personnel
to encounter instances of inflation, fluctuation in the prices of the raw materials and the other
financial flexibilities (Hollensen 2015).
On the other hand, the new entrants in the market possess high chances of being
adulterated, which is interplay with the needs, demands and requirements of the customers. As a
matter of specification, negligent attitude towards this direction is a compromise with the health
needs of the customers. For averting this kind of instances, the personnel need to hire skilled,
efficient and qualified experts for testing the quality of the products. Supervision of the
qualification of the experts is crucial in terms of averting the adopting wrong means for
degrading the original quality of the products (Grabara 2013).

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Competitive rivalry is the major force, which contradicts the aspect of fulfilling the
specific tastes and demands of the customers. The term “rivalry” can be related with the aspect
of the personnel to blindly run in the rat race to grabbing the hot seat. Application of rational
thinking in this mentality helps the personnel to stand out of the madding crowd in terms of the
achieving customer satisfaction. For this, the experts need to practice creative thinking for
overpowering the contemporary brands. Herein lays the importance of training, which would
enhance the skills, expertise and knowledge of the employees for carrying out the basic
marketing activities in an efficient and effective manner (Baker 2014). Effective utilization of the
gained training would help the employees to exercise their creative thinking.
Evaluation is one of the basic recommendations in terms of mitigating the intensity of the
market forces. This is because evaluation would make the personnel aware of the major
drawbacks within the business activities. Maintenance of consistency in the execution of
evaluation would alter the perspective of the personnel towards marketing. This consistency, in
turn, would add value to the personnel’s individual attempt towards execution of the allocated
duties and responsibility in an efficient and effective manner (Antoncic et al. 2016).
A deeper insight into brands and products
There are variations in the products and services. The ways in which these products are
manufactured reflect the type and extent of the customer satisfaction, which the companies and
organizations would achieve. Exposure of rational approach helps the marketers to identify the
appropriate target market. This identification is an agent in terms of upgrading the standards and
quality of the product. The approach towards upgradation becomes the identification of the
brand. The techniques for this upgradation help the customers to identify the brand and exercise

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their purchasing and affordability power. In view of these aspects, products are the stepping-
stones towards formation of the brands (Charter 2017).
Rationality and creativity are the two important aspects in the process of identifying the
target market. This is because of the components involved in market segmentation. As a matter
of specification, the personnel need to consider the geographical, behavioral, psychological
aspects before setting the target on a particular market segment. Along with this, there are also
age specifications, which the personnel need to consider for expanding the scope and arena of
their business through the sale of the manufactured products. Segmentation of the customers
narrows down the vision and focus of the customers (Mason, Chakrabarti and Singh 2013). This
narrowing down can be related to the short term goals, which the personnel need to set for
systematizing their business activities according to their priority.
For example, if a supermarket need to carry out target segmentation for the newly
launched perfume, they need to conduct marketing mix. This would help them to make estimates
regarding the approaches of the customers. Classification of the customers regarding the
performing would be the gradual progression of the personnel towards the identification of the
targets.
Advertising can also be one of the efficient means for placing the brand in the market
(Sheth and Sisodia 2015). However, for advertising, the personnel need to ensure that the
individual sentiments of the customers are preserved. Adherence and compliance to the
marketing legislations would be an effective means in terms of advertising the products in a legal
manner. Herein, social media is a fruitful option in terms of the advertising the products to the
audience. This is because uploading the images of the newly manufactured products on the

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official website and the social networking sites would help the personnel to reach to a large
number of customers. Within this, keeping the provision of customer generated contents would
enhance the clarity of the personnel regarding the customer approaches towards the levied
products. Typical examples in this direction can be selfies with the purchased products.
However, the personnel need to maintain rationality in these activities for achieving loyalty, trust
and dependence from the customers (Foxall 2014). On the contrary, if the marketing personnel
misutilize the offered position, they would be compelled to encounter instances like customer
turnovers, which would be an utter loss in the competitive ambience.
Turning the attention towards the products, the personnel need to ensure the durability of
the products. Consciousness towards the maintenance of originality reflects a long shelf life of
the products. On the other hand, if continuous experiments are conducted on the products, its
originality is lost, which destroys the passion of the customers to possess quality and branded
products. Herein lays the appropriateness of marketing mix, which enables the marketing
personnel to experiment with the newly launched products (Mason, Chakrabarti and Singh
2013). Herein lays the appropriateness of the aspect of “age”, which reflects the maintenance of
pace by the author with the requirements of the assignment. The same needs to be the
functionalities of the marketing personnel while experimenting with the products.
As a matter of specification, the personnel need to bear in mind the needs, demands and
requirements of the customers within the production process. Conduction of evaluation would
help the personnel in this direction in terms of ensuring whether they are progressing on the right
track. Consistency in the evaluation would help the personnel to upgrade the standard and quality
of the products, which would create a firm and stable identity of the brand. Moreover, the

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attempts of the personnel need to be coming up with something innovative for achieving large-
scale customer satisfaction (Sheth and Sisodia 2015).
Communication is one of an efficient solution for the issues, which the personnel
encounters while selling their products to the customers. Most of the transactions include verbal
communication. However, written communication would act as a proof for the personnel in
terms of safeguarding themselves from the unwanted illegal courtly instances (Foxall 2014).

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References
Antoncic, B., Auer Antoncic, J. and Aaltonen, H.M., 2016. Marketing self-efficacy and firm
creation. Journal of Small Business and Enterprise Development, 23(1), pp.90-104.
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction.
Pearson Education.
Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.
Charter, M. ed., 2017. Greener marketing: A responsible approach to business. Routledge.
Foxall, G., 2014. Strategic Marketing Management (RLE Marketing) (Vol. 3). Routledge.
Grabara, J., 2013. Employer’s expectations towards the employees from the marketing and
management department. Polish Journal of Management Studies, 7, pp.58-70.
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
Leonidou, L.C., Katsikeas, C.S., Samiee, S. and Aykol, B. eds., 2017. Advances in Global
Marketing: A Research Anthology. Springer.
Mason, K., Chakrabarti, R. and Singh, R., 2013. Markets and marketing at the bottom of the
pyramid. Marketing Theory, 13(3), pp.405-407.
Menon, A., Bharadwaj, S.G., Adidam, P.T. and Edison, S.W., 2015. Effective Marketing
Strategy-Making: Antecedents and Consequences. In Proceedings of the 1997 Academy of
Marketing Science (AMS) Annual Conference (pp. 224-224). Springer, Cham.

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Sheth, J.N. and Sisodia, R.S., 2015. Does marketing need reform?: Fresh perspectives on the
future. Routledge.
Wagner, S.M. and Eggert, A., 2016. Co-management of purchasing and marketing: Why, when
and how?. Industrial Marketing Management, 52, pp.27-36.