Definition of marketing
Marketing is learning for an society to become accustomed to conditions such that it can display better replacement of relations. In this context, it refers to a plan followed by organizations to draw end customers by upholding an organization's value straight through its products or services. It also involves revival from satisfying discontented customers by bringing them to market products. Marketing would only be faultless by development the most from the resources. It allows the companies to have an idea of the restricted resources and create opportunities from these resources. This would heighten promotion of sales and offer a contentious benefit. It works on the proper of utmost customer approval. It is most prosperous when it is made a much discussed component of a company's strategy. Some of the best examples of marketing can be seen as follows:
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Super Bowl Marketing: This is one of the most widely used marketing and advertising platforms. As it shows the patriotism for the Americans, people who can afford to any extent out in millions of dollars to the super bowl marketing. With the theme that this game carries, this is extremely conducive to learning. (Marketing Articles - Real Life Examples, 2006)
Profitable Target Marketing From Mlb: With the arrival of online marketing these days, Mlb or major league basketball uses the most sufficient enterprise models and strategies in order to ascertain that the right people visit the desired websites. (Marketing Articles - Real Life Examples, 2006)
Outline of the Marketing process
There are basically four dissimilar steps to a marketing process. They have been given as follows:
Situation Analysis: Most of the discontentment that is caused among the customers is by being unable to analyze the situations. So, situation determination is about being able to analyze the external environment so that it could be used to formulate strategies in accordance with the customer requirements. Hence, this step of the marketing process narrows the gap between what the customers want and what a definite society can offer. There are major tools of situation determination which contain Pest: Political, Economical, communal and Technological factors for the environmental scanning. Other than this, one can also use the Swot: Strengths, Weaknesses, Opportunities and Threats determination for determining the conditions of the external environment.
Marketing Strategy: The second step of the marketing process is the formulation of marketing strategy. Once the situation determination is done, one can formulate the plans based on a definite market research which would help in the selection of the market segments to rule the market target. The basic components of formulating this strategy are:
* Segmentation
* Targeting
* Positioning
* Value Proposition
Marketing Mix Decisions: This includes the details of the elements of the marketing mix which are in the form of product, price, place and promotion. (The Marketing Process, 2007)
Implementation and Control: Once the marketing strategies are formed and the goods has been recognized, the final step of implementation can be started. Any changes that are efficient in the environment can be evaluated as a succeed of this implementation. This requires close notice of the views on the products in the market.
Marketing philosophy
There are basically five dissimilar forms of marketing philosophy. They have been mentioned as follows:
Production Philosophy: When the companies have a trust in themselves about the credit of a goods in the market, this philosophy becomes productive. The hypothesize for the same is that it comes with a trust that a goods doesn't require any sales team; it would speak for its sales.
Sales Philosophy: In this philosophy, the inventory is generally more than what the query for the goods has been in the market. Under the situation, the enterprise market group feels that there is a need of more whole of customers to fulfill the sales desire of the company.
Marketing group Philosophy: In this philosophy, the marketing group feels that there is a need to find new customers so that there is a balance between the output and the sales. This requires that no inordinate inventory is produced and the pricing is sufficient as well. (Marketing Philosophy, 2009)
Marketing thought philosophy: In this philosophy, the enterprise feels that they require to meet the customers' demands as it has been specified in the mission and foresight statement of the company. This is done to fulfill the long term goals of the company.
Societal marketing philosophy: This is an postponement of the marketing thought philosophy where the marketer feels that the long-term objectives of the enterprise need to be obeyed but this should also be in context with the well-beings of the society.
Five reasons for the growth in international business
The five reasons for the growth in international enterprise have been mentioned as follows:
Expansion of Technology:
* improvement in communication technologies.
* communication allows operate from distant places.
* vehicle and communications cost are more suitable for international businesses.
Liberalization of cross-border terrorism:
Lower Governmental obstructions to the flow of goods, services and resources ensure better benefit of international opportunities.
Increase in global competition:
More companies function internationally because:
* Fresh yield rapidly becomes global.
* Organizations can produce in diverse regions.
* Home companies, rivals, suppliers, and buyers become international.
Expand Sales:
An organization's sales are based on two factors: the buyers' interest in their products or services and the buyers' readiness and potential to purchase them. The whole of people and the degree of their purchasing power are higher in the international as a whole than for a single nation, so organizations may growth their sales by defining some markets in international terms.
Minimize contentious risk:
Many organizations go international for distrustful reasons. This refers to the fact that they seek to oppose advantages that rivals or possible competitors might achieve from foreign operations which instead could be used against them in the domestic market. (Reasons For enterprise Growth, 2009)
Two examples of prosperous international businesses:
Two of the best examples of international enterprise can be seen in the technology sector. The first is the largest search motor supplier in the world, Google and the second is the largest desktop and other computer accessories manufacturing companies in the world, Hewlett-Packard. Google has been providing services in the form of search engines and many others to be fine as a one-stop selection for any web-search. In spite of the tremendous expansion of the company, Google is being managed under a single organizational body that is piquant towards continuous correction worldwide. Not leaving Hewlett-Packard alone, the enterprise being a pioneer in the field of It provides numerous products and services to the world.
History/background
The world is aware of the fact that if it comes to searching material on the Internet, Google is the first selection for trial. The company's Usp is such that search motor is defined by the name of Google itself. It was in the year 2005, that the enterprise Ceo, Eric Schmidt realized that it was time for the enterprise to start to re-build its strategy such that it could develop its services. Even though the company's revenue for that year was $ 321 million, it was still behind, the nine-year old entrant into the business, eBay. The benefit that Google was enjoying at that occasion was that the enterprise was providing numerous services on the Internet. There are services like the Google Answers, Google Image Search, and Google News etc which have been unbeatable from the early days itself. The services are so diverse that anyone be the gismo (even a mobile phone or a palm top), search options are ready at the easiest and cheapest price. This is the benefit that Google carried with itself. (Wall., 2007)
Hewlett-Packard (Hp)
Hp is the abbreviated representation of the company, Hewlett-Packard. The enterprise was formed back in 1939 and has its headquarters at Palo Alto, California. Its president and Ceo is Mark Hurd. It is one of the largest It companies in the world with revenue amounting to $ 113 billion at the end of the four fiscal quarters in July'08. It boasts of serving more than 1 million customers in as many as 170 countries over the globe. This fact gives u a view that it operates in roughly all the nations of the world that are development good use of It. Its Usp has become the most acknowledged among the Mncs of the world. It employs approximately1 32,000 experts in all its trades. It spends about .6 million in research and improvement hence justifying its It streak. The Government of dissimilar nations cannot inflict their taxes on Hp as the enterprise helps in employing a lot of people in the respective countries. The enterprise does this international expansion as low-cost labor is suitable and the hospitability of the host country's Government. (History hp, 2009)
Product/service description
Google is one of the most diverse companies in the world as far as its products and services are concerned.
* Google Search: Any relevant article that a man wants to search on the web is ready most effortlessly on Google search.
* Google images: This gives way to search images on the web as well.
* Google Groups: These are common discussion groups which are made on the basis of similar interests.
* Group Catalogue: It is used for searching and browsing mail-order catalogues online.
* Google Directory: This gives way to search the required facts based on a definite directory that Google maintains which classifies the matter of concern.
* Google News: This is a one-stop location for having way to the world news online.
* Google Wireless: This provides a free in-home wireless aid to the customers.
The services mentioned above show the initiative that Google has taken towards diversity. (New features for Google Services for Websites, 2009)
Hewlett-Packard also business a whole of items which have been mentioned as follows:
* Notebooks with changeable configurations: As the world is progressing each day, notebooks have become a priority which Hp provides as per as the needs of the customers.
* Inkjet printers: These are the most efficient printers which are the best among all of their kinds in the market.
* Indigo digital press links: This is required from the purpose of commercial printing and packaging.
* Digital projector lamps: These are user-replaceable in nature which are becoming preponderant in organizations and learning institutions.
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