Marketing Report: Importance of Marketing and the 7Ps Marketing Mix

This report provides a comprehensive overview of marketing, emphasizing its significance in creating customer interest and driving business success. It delves into the core aspects of marketing, including research, promotion, and distribution of products and services. The report outlines the marketing process, highlighting the various stages involved, and explores the role of the 7Ps marketing mix (Product, Price, Promotion, Place, People, Process, and Physical Evidence) in achieving marketing objectives. It includes real-world examples, theoretical frameworks, and models to illustrate successful marketing strategies. The report discusses how effective marketing increases sales, builds brand awareness and customer trust, and creates a strong social presence. It also examines the five-step marketing process: understanding the market, designing a customer-driven strategy, constructing an integrated marketing plan, building profitable relationships, and capturing value from customers. Overall, the report offers valuable insights into the essential components of marketing and their impact on business outcomes.

Marketing

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Importance of marketing..............................................................................................................3
Process of marketing....................................................................................................................4
Stages of marketing process........................................................................................................5
Role of 7P’s marketing mix.........................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing in the process to create interest of the potential customer and client in
respective product and services. Marketing is key word which involves researching, promoting,
selling and distributing product and services inside potential market (Armstrong and et.al., 2018).
The process of marketing has involvement of various stages which are needed to be followed up
in systematic manner to achieve success.
In this report, there will be inclusion different stages along with evaluation of marketing
mix role in successive possessing of business. The report will include the example of different
business regarding successful business in market. In addition, there will be linkage to different
theories and model of marketing.
MAIN BODY
Marketing refers to attract and retain a successive growing base of satisfied customer. This can
be done through implementing affective market plans focusing on the market efforts to increase
the sales and profitability of firm (Deepak and Jeyakumar, 2019). Adverting is the most obvious
marketing activity along with customer research which will be helpful in better matching
customer need and preference to product.
Importance of marketing
Marketing is among the strong essential component of business success. Marketing is
significant effecting the busines expanding way managers and entrepreneur to try out the best
way to achieve marketing goals.
 Increase in sales
As per Mark Cuban, “No sales, no company”. With appropriate marketing, company will
create increase in chance that consumer will make purchase the product. There is need to
have efficient sales person to increase the word sales of product.
 Product and service awareness
More contact with personal will be helpful in sharing of more information, exchanging
and engaging of customer wide variety. The marketing strategy will include online
recommendation remembering the brand for future reference. For example, Tesco will be
having online and offline marketing strategy to build up potential customer in evoke set.
 Increase in customer trust
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Effective marketing will look into the building trustful relationship among the customer
(Kotler, 2017). This will lead to have formation in company image of sturdiness,
reliability, and honesty. For example, Pepsi and Coca- cola have been strong brand of
cola spending out continuous years for forming bond and trust among people.
 Help in building in social assets
Marketing will look out to have development of powerful social asset to use for
promotion an outreach in the upcoming future. Every business has need to make into
building on online data bae and offline address book which will be turning out to be
social assets for upcoming generation. For example, jaguar is using different social media
platform such as Facebook, Instagram and twitter to launch revive ad campaign in target
audience
 Create knowledge of market place
Marketing is helpful in opening up eyes regarding reality of industry. Understanding the
business and retention of audiences with the usage of technology will be helpful in
successful aligning of communication efforts of company. Marketing strategy of
company help out in identifying the different customer preferences and desire meeting
out the different challenges in proper manner.
Process of marketing
Marketing is referred to situation for companies to create value for potential customer
along with building strong relationship to capture value from customer in return (Kotler,
P., 2018). The marketing framework have involvement of 5 step process Where value is
created for customer and marketer capture value in return by customer.
Step one Understanding the marketspace a with needs and wants of customer
It is important for companies to understand need, want and desire of customer to
build up the want satisfying relationship. This will be included offering the satisfying
business products which will increase costumer equity for firm. Needs can be both
physical and individual’s needs. These needs cannot be created in market. They are
actually human mark-up. On other hand wats and demand are shaped by individual’s
personality, culture and purchasing power.
Step 2 Designing customer driven marketing strategy
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There is need for busines to have focus on areas as serve defining target market deciding out
best ways to choose value proposition. target market will have subdivision based on living,
timing and nature of demand (Mix and Brand, 2017). Choosing out value proposition will have
set of value and benefit delivering customer. customer driven market strategy have look into
different alternative concept as production concept, product concept, selling concept , marketing
concepts and societal concept.
Step 3 Constructing the integrate marketing plan
Plan will outline the integrated marketing strategy with intended value to target
customer. This have consistency of firm marketing mix as set of marketing tools to
implement racketing strategy’s in better manner. The programmes will help in building
out the customer relationships by transforming business strategy into action.
Step 4 Building profitable relationship
Customer relationship management is combined to be overall process in building
and maintaining profitable relationship with delivering superiors customer value and
satisfaction. This is key building lasting relationship with creation of superior’s customer
value and satisfaction.
Step 5 Capturing value form customer
Customer relationship management have ultimate to produce high customer equity combine
with lifetime companies current and potential customer (Moorman and Day, 2016.). Company
ore loyal to profitable customer which create higher consumer equity. Marketer are not capable
to create customer value and build relationship.
Stages of marketing process
The marketing approach have need to possess to provide equal attentions in generating
awareness and building up trusts.
Awareness
This will have inclusion advertising, blogs, organic search, public relations, social media
participation, speaking, business events, content and referred leads
Education
There can be use of website, phone conversations, speaking, reviews, client testimonials,
email newsletter, marketing kit, white papers, success stories, and sales presentations
Sample
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The company will have inclusion of audits, webinars, courses, evaluations, proposals,
trial offers and speaking.
Purchase
The company will look into the introductions, new kit, quarterly events, guides, , in-
depth user manuals, delivery, customer support communities.
Refer.
Post customer survey, gift certificates, customer appreciation events, feature success
stories in marketing materials, and partner introductions
Role of 7P’s marketing mix
The marketing mix is familiar marketing strategy tool as one of top 3 classic
model in marketing of business. The 7Ps model was originally devised by E. Jerome
McCarthy and published in 1960 in his book Basic Marketing. A Managerial Approach.
As per the today’s scenarios, companies are making use this model analysis in
order to set objectives by conducting the SWOT analysis and undertaking competitive
analysis. This is practical framework for evaluation of existing business with appropriate
approaches.
Product
Customer satisfaction is important for companies meeting out needs and desire. Samsung
is global brand delivering high quality products (Kotler, 2019). Firm is needed to have
high efforts including people with physical, sensory or cognitive limitations. The firm is
successful in meeting customer unique and reliable expectation. Hence product policy
and strategy is important tool for organization.
Price
Price plays significant roles as been highly visible factors in marketing mix been
distinctive. Samsung using healthy approach to target all economic groups with wide
range of handset which are affordable range and connecting people. Firm is using price
skimming strategies and psychological pricing.
Promotion
Promotion is all about communications way informing the important target
market. Samsung is spot lightening personal selling along with online sell out. This have
effects on increasing awareness of product. Samsung have pull promotional strategies
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promoting with wholesaler. This strategy is helpful in gaining competitive advantages
lead to product improvement and maintainers preferences.
Place
Place is aspect where customer would to get determining the better pace at the
right time to trade the product to success. To buy product hold not be difficult for
customer. Samsung are using the online strategies with digital marketing strategy to gain
more and more customer from differ corner
People
There is need to have appropriate staff with any service provision. This will be helpful in
gaining competitive advantage (Kotle and et.al., 2016.). Samsung will look hiring right
employee and training. Consumer should make judgement in service based and staff
behaviour. Employer should have interpersonal skills and service knowledge.
Process
Process system help company in delivering the service. The plan should look into
quality controls building be make customer more confidents regarding usage of product
service. Samsung have business process from function-oriented organization. Samsung
is having new development approach for information in order to satisfy the business
needs.
Physical Evidence
Physical evidence allowing customer again looking to make adjustment. This
have customer problem meeting out customer expecati0000s is friendly and efficiently
helping by the staff members (Kotler, 2016.). Physical evidence is very important factor for
service mix as the consumers make perceptions based on their sight of the service provision.
CONCLUSION
From the above file, it an be concluded as Marketing is key for researching, promoting,
selling and distributing product and services inside potential market. The marketing strategy will
include online recommendation remembering the brand for future reference. Choosing out value
proposition will have set of value and benefit delivering customer. This will create kind of
momentum coming from beginning to end marketing process.
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REFERENCES
Books and Journals
Online
Armstrong, G.M and et.al., 2018. Marketing: an introduction. Pearson UK.
Deepak, R.K.A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Kotler, P., 2017. Philip Kotler: some of my adventures in marketing. Journal of Historical
Research in Marketing.
Kotler, P., 2018. Why broadened marketing has enriched marketing. AMS Review, 8(1-2),
pp.20-22.
Mix, M. and Brand, C.B., 2017. Marketing management.
Moorman, C. and Day, G.S., 2016. Organizing for marketing excellence. Journal of Marketing,
80(6), pp.6-35.
Kotler, P.T., 2019. Marketing management. Pearson UK.
Kotler, P., Bowen, J.T., Makens, J. and Baloglu, S., 2017. Marketing for hospitality and tourism.
Kotler, P and et.al., 2016. Marketing management. 15th Global Edition. England: Pearson
Educationn Limited, 17.
Kotler, P., 2016. A framework for marketing management. Pearson Education Limited.
Armstrong, G and et.al.,2020. Marketing and Management. P. Ed Custom Books.
Kotler, M an et.al., 2020. Organizational Platform for Digital Marketing. World Scientific Book
Chapters, pp.317-343.
Kotler, P., 2017. Marketing for competitiveness. Bentang Pustaka.
Online
27 Lessons from Philip Kotler, the father of Modern Marketing, to apply to your Online
Marketing Strategies. [online]. Available through < https://postcron.com/en/blog/philip-kotler-
advice-for-online-marketing/>
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