Introduction To Marketing And Challenges Essay

Question:

Discuss about the Introduction to Marketing and Challenges.

Answer:

Introduction

Marketing is meeting the requirements of customers for achieving objectives of the organisation. Marketing in the words of American Marketing Associations can be described as the planning procedure as well as execution of pricing, ideas distribution, conception, pricing, services and goods for creating the exchanges, which can satisfy both the objectives of organisation as well as customers. These types of specific objectives are been implemented by the marketers (Palmer 2012). This report briefly describes about the doings of marketers. It also discusses about the utilisation of various tools as well as metric systems by the marketers and the challenges faced by marketers.

Analysis

Marketers help in creating customers value as well as establishing strong relationship with the customers. Creating customer’s value and building relationship with them requires the marketers to follow the following steps. The following steps can state these steps for the process of marketing as described by Kotler and Armstrong. The first step is for the marketers requires in understanding the market place and determining the requirement of the customers. The marketers require researching the markets with the help of observation as well as surveying the market for recognising the opportunity provided by the market. Marketers also help the business in determining the market offerings for a particular organisation. It also helps the business in getting adapted to change in trends so that they can still obtain competitive advantages in the market. The decision taken by marketers is based on reliable information on the buyers buy and innovative work of the market. This process of decision-making is known as evidence-based marketing (Sharp 2013).

Marketers also design marketing strategies on customer-driven policy. The goal of marketers is to achieve gain and establishing sustainable growth by targeting the customers. For this, specified step markets choose the customer groups for serving the market by implementing marketing segmentation. Market segmentation helps in segregation of market and thus targeting the customers can be done excellently. Thus, marketers perform market segmentation, which helps in having efficient target marketing (Baker 2014). Marketers also decide the value set, which they want for working in order to provide satisfaction to the customers by meeting their needs. This is done by the method of differentiating as well as positioning the products in markets. An effective example of utilization of client driven strategy is exhibited by Amazon.com, which began as online bookshop, however now offers practically everything running from basic supplies, hardware, house wares, and even to free precious stones. Amazon.com accomplished this by outlining a customized landing page for its clients with the "Suggestions for-You" highlight that shows item proposals for clients from various market fragments.

Following stage, marketers assemble productive relationship and make client please by building strong client relationships with focused clients by the help of client relationship administration (Armstrong et al. 2013). Taken after by the last stride, marketers intend to catch value from clients by making fulfilled and steadfast with a specific end goal to expand piece of the overall industry and create benefits consequently.

Conclusion

Marketers play a role of connector in between the organisation, customers, planning, and executing promoting systems to accomplish organisational goals while fulfilling customers' requests. These individuals assume an essential part in enhancing the way of life by empowering monetary development through research and advancement as rivalry urges advertisers to make new and better methods for fulfilling shopper needs.

References

Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction. NJ: Pearson Education.

Baker, M.J., 2014. Marketing strategy and management. London: Palgrave Macmillan.

Palmer, A., 2012. Introduction to marketing: theory and practice. London: Oxford University Press.

Sharp, B., 2013. Marketing: theory, evidence, practice. 1. vyd. South Melbourne: Oxford University Press, 609 s. ISBN 978-0-19-557355-8.

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