Marketing Principles and Practice

Marketing Principles
and practice

Table of Contents
INTRODUCTION...........................................................................................................................1
Define key concepts of marketing...............................................................................................1
Marketing concepts and comment effectiveness of their uses on an organization.....................2
..........................................................................................................................................................4
CONCLUSION................................................................................................................................4
RECOMMENDATIONS.................................................................................................................4
REFERENCES................................................................................................................................6

INTRODUCTION
Marketing is defined as a business process of creating relationships and to attract as well
as satisfied their customers. It involves doing promotion, advertisement, as well as distribution of
goods and services for sales. Effective marketing practices and principles depicts the methods of
high level business operations. In this report Ryanair case is taken to study the marketing
principles and policies. It is a multinational commercial airline founded in Ireland and deals in
low cost or no frills travel to European destinations. Under this report discussed about the key
marketing concepts and their effectiveness on the company as well as facilitates appropriate
conclusion with recommendations.
Define key concepts of marketing.
Marketing is a set of institutions and activities that are used for creating, communicating,
delivering and exchanging products and services that are valuable for customers, suppliers,
partners as well as society (THE FIVE MARKETING CONCEPTS, 2019). Marketing concepts
considered as a philosophy which a company implement to increase profits, sale, takes
competitive advantages as well as satisfy customers. There are mainly five concepts that can be
described below: Production orientation: In this concept businesses were concentrate on manufacturing,
production as well as efficiency issues to increase the supply and minimise cost. The
company focused on the mass production at low cost and creates demand for products
itself and maximise profit. Product oriented: It based on the customers favour products which are produced on the
basis of high quality, low prices, innovative features etc. and focused on continuous
product improvements as per the needs and requirements of the consumers. Product
oriented company emphasis on products only not the consumer's needs and expectations. Sales oriented: This concept emphasised on the making actual sale of their products and
services regardless the quality and customers needs. This can be done through large scale
selling and promotional efforts (Shields, 2015). Management prefer aggressive sales
instead of building and developing long term and profitable customer relationships. The
company considers that customers need have to be encouraged and convinced into buying
products and services.
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