What are marketing principles? Definition

Running head: MARKETING PRINCIPLE
MARKETING PRINCIPLE
Name of the Student
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Author Note

MARKETING PRINCIPLE1
Introduction
The purpose of this paper will be to demonstrate the understanding of the marketing
concept along with its application on the organization of M&M’s. The marketing concept will
comprise of the beliefs that this company need to assess the needs of their consumers,
through which the management if this business houses can effectively make decision to
satisfy the needs and requirements of the customers. Implementation of Production Concept,
Product Concept, Selling Concept, Marketing Concept and Societal Marketing Concept of
M&M’s will be done in this paper. The marketing objectives of this organization will also be
discussed in this paper. The process of meeting the increased sales, building brand awareness,
launching of a new particular product, targeting new customers and enhancing customer
relationships will be discussed here.
Marketing Concepts
Product Concept of M&M
In this context, it can be said that the organizations of M&M’s have started their
operations in the year of 1941. This business entity from the United States operates across the
globe in more than 100 countries. Their main or flagship product is the button-shaped
chocolates which are available in various colours, and each of these chocolates possesses the
letter “M” printed on one side of it in white. They are also available in different variations,
like almond, dark chocolate, peanut butter, crispy, caramel and pretzel. It can be stated in this
context that M&M’s are the flagship product of what is said to be the Mars Wrigley
Confectionery section of Mars, Incorporated (Mms.com 2020).
Production Concept of M&M
As already discussed, the management of M&M’s are engaged to produce and sale
different varieties chocolates for their customers who are present in more than 100 nations
including the United States. It can be stated in this context that more than 2 billon chocolates
are produced in every 8 hours at the factory of this organization which is located in New
Jersey. All of these are produced in various colours, some of which has been altered over the
years according to the tastes and references of the customers of different markets where they
are sold (Poku and Ansah 2014).

MARKETING PRINCIPLE2
Selling Concept of M&M
The management of this 100+ year historical business house has successfully placed
themselves in all the regions where they are present to satisfy the needs and requirements of
the people. The overall selling concept which has been followed by the management is to sale
their products in different varieties and colours, so that it can target all kinds of likeness,
tastes and preferences that the people can possess in the market place. Some of the products
are limited in the context of geographic availability or duration, while others are available
according to the market preferences and customer demands (Karpińska 2018).
Marketing Concept of M&M
This is the place which has helped the management of the organization of M&M’s to
build as well as expand the brand, which resulted in establishing the brand of this business
houses in more than 100 countries successfully. It can be said in this context that
advancement in the area of technology has changed the tastes and preferences of the
consumers over the years along with changing the overall marketing concept that is followed
by M&M’s. Personification of the candies as cartoon-like storytelling characters and usage of
computer-animated graphics along with different merchandising techniques which involves
fresh colours, flavours and customizable merchandises has helped this business entity to
increase the recognition of this brand as an icon in the candy segment globally to its
customers (EVCEN 2019).
Societal Marketing Concept of M&M
It has been already discussed that M&M’s has successfully served the people in more
than 100 nations, and met the various needs and requirements of them. Apart from this, the
management of this organization has engaged themselves in the betterment of the societies
where they are operating, along with satisfying the needs and wants of the people and earning
profit from these market places (Dobryanska et al 2018).
Marketing Objectives
Increased Sales
The sales of the organization of M&M’s have increased over the years, which, like all
other business entities, is the first and foremost objective of the management. Through
different varieties like almond, dark chocolate, peanut butter, crispy, caramel and pretzel and