Marketing Fundamentals Report - Strategic Marketing Analysis

This report provides a comprehensive overview of marketing fundamentals. It begins by defining marketing and its importance in business, emphasizing the 4Ps of the marketing mix (Product, Price, Place, and Promotion) and the evolving concepts that include people, physical environment, and process. The report then delves into the micro and macro business environments, highlighting the significance of human resources and employees within the micro-environment. The analysis further examines how companies, like Amazon, maintain a competitive advantage through innovation in products and services, such as Amazon's advancements in the retail industry. The report also includes responses to discussion questions, offering additional insights into marketing strategies. The report concludes by emphasizing the importance of creativity and innovation across all stages of marketing to achieve company objectives and maintain customer engagement.

Running head: MARKETING FUNDAMENTALS
Marketing Fundamentals
Name of the Student
Name of the University
Author’s note

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MARKETING FUNDAMENTALS
1) Marketing is the process by which a company communicates with the stakeholders of the
organisation along with the customers and potential customers. With the help of several
marketing concepts that are evolved over the years, organisation incorporate it within the
strategic management of the company while taking decisions or formulating rules and
regulations (Khan, 2014). Marketing process begins form the point of developing the product.
This is explained in the 4Ps of marketing (marketing mix) which starts with Product moves on to
Price, Place and Promotion.
Formulating a product with the help of the requirements and demands of the customers is
one of the most important steps in marketing it ensure that the process is on track from the
beginning. Companies innovate upon an existing idea and develop the products and Amazon is a
company that is known for its ground breaking innovation and strategic management ideas
(Amazon.com, 2018). The concept of marketing was further expanded where people, physical
environment and process are included in the marketing mix which offers an holistic approach
towards the concept of marketing (Baker, 2014).
The process of marking is important for any business organisation as it ensures that the
company is focused on the objectives and aims that it has set for the period of time and it also
can devise strategies to achieve these goals such as being the market leader, achieve sustainable
development, increase the profit percentage by certain rate in the next financial year etc.
Marketing is a department in the administration and it ensures that the sales and revenue keep
generating in order to keep operating.
2. Any business organisation operates in two business environments and the factors of which
directly impacts the operations of the business, the micro or the internal environments are the

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factors of the business which are under the influence of the management of the organisation on
the other hand the macro or external business environment factors cannot be under the direct
control of the management hence, the while taking any decisions of the business the
managements should ensure that they keep all these factors in mind.
While the macro environment may be dynamic and unstable in some of the cases but,
human resource or employees of the organisation in the micro environment are the most
important force that the company has (Armstrong et al., 2015). It is most important as they have
the strength of the organisation can be motivated and inspired to reach the strategic goals. The
performance of the workforce can be improved and their skills can be developed over the time,
this is a recourse that has maximum boundary of innovation and potential with the skill, expertise
and the knowledge of the human resource of an organisation, they can reach new heights. On the
other hand if the workforce of the company is not happy with the organisation and the culture
that prevails in the workplace they can negatively impact the operations of the business as well.
Employee turnover rate impacts the operations of the business to a great extent as it is a loss for
the company (McLuskie, 2017).
3) In order to maintain competitive advantage Amazon should maintain the position of
innovation. Under the visionary leadership of the CEO Jeff Bezos the company is known for the
innovations in terms of the products and services that the company offers. When the company
was launched 22 years ago it was an online platform where the customers could find their books.
From there the organisation has come far and has set several benchmarks on the way.
Amazon is the market leader and the owner of the company is awarded the title of being
the world’s richest man in 2017. The innovations of the products and services are the way the

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company maintains their competitive advantage they ensure diversification in the product line
and has also invested in retail industry. In order to gain an advantage in that sector the company
has come up with a concept of hi-tech corner grocery store where a person with working internet
connection and a device like Smartphone can walk into the store and pick up their chosen Items
and leave without any hassle (McLuskie, 2017). This innovation is a revolution in the retail
industry and can help the company gain competitive advantage with this business model. The
process of innovation is the liberty and the space the employees in the R&D department of the
company get, people have the liberty to ideate and conduct their research and the exception far
sighted vision of the CEO leads the company to achieve its objectives (McLuskie, 2017).
Answer to Juan Sebastian Quintero Munoz
Response 1:You have began answering the question by saying that the main concept is to
satisfy the customer need on the other hand it marketing is important for a company to focus on
the objectives that the company and the objectives of the company are based on the vales and the
principles of the company many organisation focus on the shareholders value as their priority on
the other hand there are organisation that focus on sustainable development and to create
valuable relation with the customers.
Response 2:The strategic management is one of the major purpose of marketing is true
but Nike has as a global approach in their advertising which is not reflected in the analysis, the
content just says about one aspect of marketing mix that is promotion where as other aspects are
ignored in the content. According to the concept of marketing mix there are many more aspects
in the process of marketing which influence the customers and their buying behavior apart from
promotional activities; promotions are just for the communicating with the stakeholder which is

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just a part of marketing. I agree that creativity and innovation is a large part of marketing as it
helps in engaging the customers as well as other stakeholders in the products or services that are
offered by the company. Innovation and creativity is required in every step of marketing as it
helps in formulation of decisions and policies to achieve the objectives of the company.
Reference list:
Amazon.com. (2018). Home page. amazon.com. Retrieved 20 March 2018, from
https://www.amazon.com.au/
Armstrong, G., Kotler, P., Harker, M. & Brennan, R., (2015). Marketing: an introduction.
Pearson Education.
Baker, M.J., (2014). Marketing strategy and management. Palgrave Macmillan.
Khan, M.T., (2014). The concept of'marketing mix'and its elements (a conceptual review
paper). International journal of information, business and management, 6(2), p.95.
McLuskie, P., (2017). Innovation and Entrepreneurship. International Journal of
Entrepreneurial Behavior & Research, 23(1), 159-162.