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Example of an essay written by professional writers Introduction Marketing is the basis on which organizations establish, create and maintain a profitable Brand.
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However, as noted by CIMmarketing is a complex, and business manager that understand it well, steer their Case study russell hobbs marketing essay on the top as compared to competitor.
This statement suggests the importance of marketing to an organization. This paper is dedicated to understanding marketing process as carried out in organizations. Argos, one of the leading convenient stores in UK is used as the case study 1. Marketing is also defined as the effort of establishing profitable customer relationship.
Marketing is a process that involves several elements. The following are various elements Organizations mission and vision- this provides direction for the whole organization. They dictate where there organization wants to be in future and what it is doing to be there.
Vision and mission provided the starting point of marketing activities. The resulting goals are known as departmental Goals. The goals set for marketing function are therefore important in marketing activities Once marketing known what is expected of it, marketing audits is conducted.
Marketing audits is basically environmental scanning both internal and external environment. The main of marketing audits is to identify action of competitors, customers needs, unexploited opportunity, threats organization strength over competitor as well as it weakness CIM The marketing audits provided an organization with better understanding of the market.
This help it set marketing objectives and goals as well as develop marketing strategies relating to pricing, distribution, promotion and products. According to kolter and Armstrongmarketing strategies also involves segmentation, targeting, positioning and differentiation Once marketing strategies and goals are developed, preparing marketing budget follows.
The marketing budget give forecasted figure relating to cost of different marketing activities and function such as promotion and advertisement, salary for marketing staffs, cost of preparing promotional materials etc. Control and evaluation is the final elements of marketing activities.
These are done to ensure the implementation of marketing plan and budget is done accordingly. In this approach everything is done with customer needs in minds. Organizations conduct a lot of marketing research in order to understand their customer needs.
This approach goes beyond understanding customer to understanding competitors and what they have to offers. The approach also focus on long-term solution to customer needs, it focus on continuous search of way to add value to existing products or services so as to improve customer experience This approach can benefit Argos in several ways.
Since this approach aim at understanding and satisfying customer needs, Argos can gain more loyal customer. Loyal customer may meet high customer retention for Argos which in turn leads to relatively stable and high revenue. Additionally, this approach can have positive impacts on Argos reputation as customer always talk good of company they are loyal to.
Furthermore, this would help Argos reach message about it products to larger population without the need for advertisement since word of mouth already does that. However, this approach is not without its own cost.
To better understand the customer needs well, Argos has to spend a lot of money and time to conduct market research. The cost of market research can also be further increased by the fact that customer need and wants keep on changing from time to time.
Additionally, satisfying customer needs mean increased investment in facilities and technology to provide services and product of high quality, timely and as per diverse need of customer. All this cost may result to increased product cost which push price high or reduce the profit margins for the organization CIM There are a lot of factors that affect it marketing decision and activities.
Kolter and Armstrong have classified these factors into two category namely micro and macro. Micros are internal factors while macros are those in the external world.A Duval county FEMA Disaster Registration Site has been approved and will be open 9/28//30/17 at the Bradham and Brooks Library location.
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Principles of marketing. Example of an essay written by professional writers) Argos, one of the leading convenient stores in UK is used as the case study Explain the various elements of the marketing process Take Russell Hobbs toaster for example, one of the toaster brand carried by Argos stores.
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