Business Management Marketing Characteristics Report

This report examines crucial aspects of business marketing, focusing on the four P's: Product, Price, Place, and Promotion. It delves into the special characteristics that influence marketing decisions, highlighting the importance of setting these characteristics to aid in production and price fixing. The report further explores how these concepts help in marketing within organizations, emphasizing the significance of customer orientation and marketing strategies. It discusses the role of marketing in relation to the consumer and financial aspects of the business. Additionally, the report provides insights into the marketing organization and its role in the business, discussing the importance of marketing strategies and customer satisfaction for the growth and development of a business. It also includes references to support the information presented.

Running head: BUSINESS MANAGEMENT
Law Ethics Assignment
Name of the Student
Name of the University
Author Note

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Table of Contents
The special characteristics of marketing decision...........................................................................2
The Concept helps in marketing under the organisations................................................................3
Reference.........................................................................................................................................5

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Assessment 1
The special characteristics of marketing decision
The marketing business it is necessary to set some important characteristics which helps
in the production and fixing the price amount in the business. Therefore A set of four P’s has
been set which includes Product, Price, Place, and Promotion. Now the product defines the
appropriate goods and the service, which is offered to the consumer. The product defines the
goods which manufactured by one company must includes the quality, features, options,
services, warranty and brand name (Petersen, Kushwaha and Kumar 2015).
The Consumers are the original recourses where the products affect on the marketing area
and the price of the products depends on the availability of the customers. Before considering the
price for the products the business strengths, and weakness also recognized.
The Price refers for the amount where the product will be selling to the consumers and
the products will be charged according to the marketing strategies. The price should determine
by the manufacturer and according to the marketing price, the price can be increase or decrease.
The actual value of the price never charged because it depends on the raw material of the
products. The price also depends on the product’s quality, brand, and flexibility and credit terms.
Place defines the destinations or areas where the product will be distributed and it
will be promoted for the consumers. The distributions depend on the manufacturer or the
business authority where it will distributed like retails, community, or direct selling to the
consumers.

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The promotion defines the advertising and selling portion of the marketing strategies, which
helps to promote the product and how it will help us in the promotion of the business according
to the marketing strategies. For the betterment in the business, it is required to have a good
promotion about the product. More the advertising will be promoted; consumer will get more
details about the benefits in using of the product. The advertising could promoted through the
radio, television, print electronic, word of mouth and generic.
The four P’s that are product, price, place and promotion are the most important business
strategies which helps in the increasing the business. It also helps to influence the marketing
effectiveness and pay off the satisfactory to the customers (Petersen, Kushwaha, and Kumar
2015).
The Concept helps in marketing under the organisations
The marketing organization depends on the different significance on the marketing
strategies. The consumer is the only sources, which helps to increase the business strategies
according to the transactions of the business. The marketing, which is unnecessary for the
financial and accounting purposes that must be avoided. The marketing is the manipulation of
buyers where it helps to manipulating the consumers who want to buy the products. The
marketing pricing policy helps in the frequency for the buyers in the industrial markets. The
marketing in the selling helps to promote the sale traditions where it sets the strategies for the
business policies. The marketing is for specialist where it sets the actual department for the
marketing research and advertising. The responsibilities under the marketing strategizes perform
according to the needful actions. The marketing everything is another term where it applied as a

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universal expression for the diverse business process where the marketing internal measures will
designed under the activities.
The market orientation helps in the productivity-oriented economy circumstances on the
improvement and limitation in the competitive advantage. The sales orientation helps in the
improvement and limitation in the business where it intends in the productivity development.
The customer orientation is one of the important parts in the supply of the goods in the core
marketing strategies. The customer orientation includes the production, products, sales
orientation where it helps in the predecessors, customers orientation represents and deals with the
supplier’s agreements. Under the market orientation, it represents the marketing concept for
succeeding the wishes, expectation and the judgments of customers in the stimulation of the
competition feedbacks.
The customer satisfaction is on the part of the business communication where the
customer will but the products according to their needs and queries and they provides feedback
on the products. The customer exchange the goods for price and the satisfactory price will helps
in set the marketing benefits in the business. The more the market offerings resemble one
another, the more the customer can exert their power of demand, and the more advantageous the
exchange relationships will be for them (Armstrong et al. 2014).

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Reference
Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson
Australia.
Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
Bodie, Z., 2013. Investments. McGraw-Hill.
Challagalla, G., Murtha, B.R. and Jaworski, B., 2014. Marketing doctrine: a principles-based
approach to guiding marketing decision making in firms. Journal of Marketing, 78(4), pp.4-20.
Lhoest-Snoeck, S., Nierop, E.V. and Verhoef, P.C., 2015. Customer value modelling in the
energy market and a practical application for marketing decision making. International Journal of
Electronic Customer Relationship Management, 9(1), pp.1-32.
Petersen, J.A., Kushwaha, T. and Kumar, V., 2015. Marketing communication strategies and
consumer financial decision making: The role of national culture. Journal of Marketing, 79(1),
pp.44-63.
Pike, S. and Page, S.J., 2014. Destination Marketing Organizations and destination marketing: A
narrative analysis of the literature. Tourism management, 41, pp.202-227.