StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Marketing (as a marketer) - Essay Example

Cite this document
Summary
Kotler and Armstrong (2010) have asserted that macro environment factors vis-à-vis technology, socio-economic and political changes,…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.5% of users find it useful
Marketing (as a marketer)
Read Text Preview

Extract of sample "Marketing (as a marketer)"

Part I In the contemporary environment, price and pricing are not the only factors that impact the sales and marketing of products and services. Kotler and Armstrong (2010) have asserted that macro environment factors vis-à-vis technology, socio-economic and political changes, cultural, demographic and environment are major elements that have significant impact on the market. The changing lifestyle has made demographic and environmental compulsions important part of market strategy. Thus, price changes within the products must incorporate these factors so as to remain attractive to the changing preferences of the customers.

Part II In the recessive environment, while pricing has remained the dominant problem, the firms are increasingly facing competition from other macro-environmental factors. The after sales service has become critical to retain customers. An effective distribution and delivery system that focuses on time and place has also become vital part of market strategy (ibid). The fast changing preferences of the customers, technology, environment and ethical considerations have become vital elements that impact organization’s performance outcome.

The consumer psychology plays strong role in the development of new products. The market strategy therefore needs to emphasize on brand creation and advertising to suit the segmented market. Part III Wal-Mart’s strategy to introduce private label products should not impact the pricing dynamics of firms like Aveda, Kellogg and Starbucks etc. These firms have already created a niche market for their products and their brand strategy is targeted towards the market segment that strongly believes in the credibility of brands.

The perceived value of the products of these companies meets the consumption value and therefore considerably satisfies the target consumer. Identification of attractive market In the age of advancing technology and globalization, the businesses have become highly competitive. Consumers have become the mainstay of the businesses that has necessitated the need for dynamic market strategies. Indeed, understanding the consumer psychology has become intrinsic part of business decision making. The identification and analysis of consumer behavior at different level of interaction helps the companies to evolve strategies for gaining market position.

Thus, product development and market strategy are primarily defined by major segmenting variables like age, gender, income etc. These help provide the firms to develop effective market plans so as to influence the buying decisions of the target market. When marketers use multiple segmenting bases, they are able to create effective brand image which greatly provides them with competitive advantage. At the same time, by leveraging price, the firms are also able to enhance their customer base and penetrate new market segment.

Interestingly, globalization has provided the firms with huge scope of market expansion across geographical boundaries. Through mix and integrated marketing communication, the firms can exploit the emerging new markets and gain market position. For competitive advantage, the firms strive to create niche market position. Market positions become important for businesses because they help the companies to maintain and increase their customer base within the target market. The organizations meet the changing requirements of the consumers through new product development.

At the same time, exemplary customer service before and after the sales process is maintained which significantly contributes to the customer satisfaction.ReferenceKotler, P. and Armstrong G. (2010). Principles of Marketing. Pearson Prentice Hall, Thirteen Edition. New Jersey, NJ.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Marketing (as a marketer) Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Marketing (as a marketer) Essay Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/miscellaneous/1574882-marketing-as-a-marketer
(Marketing (as a Marketer) Essay Example | Topics and Well Written Essays - 500 Words)
Marketing (as a Marketer) Essay Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/miscellaneous/1574882-marketing-as-a-marketer.
“Marketing (as a Marketer) Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/miscellaneous/1574882-marketing-as-a-marketer.
  • Cited: 0 times

CHECK THESE SAMPLES OF Marketing (as a marketer)

Direct Marketing in International Markets

The direct marketer had also risen to 13,000.... A paper "Direct marketing in International Markets" describes the importance of direct marketing in international markets and its value for success in business.... Direct marketing plays an important role in a product while it tries to develop its market globally.... hellip; There are various tools of direct marketing such as telemarketing, email, direct mail, and SMS, which play a great role in influencing the customers....
8 Pages (2000 words) Assignment

Enhancing Employability in Marketing

On the other hand, small business outfits need a marketer who is able to handle all forms of challenging marketing problems with no specialized training.... However, some firms usually need a marketer who can popularize their goods and services to the general public without much use of resources or technology (Brousseau, Driver, Eneroth & Larson 1996, p.... Career Paths of a Marketing Degree marketing as course encompasses a wide array of activities that are related to conceptions about the delivery of goods and services....
10 Pages (2500 words) Essay

The Mind of the Customer

This essay discusses that decision-making among consumers is the fundamental determinant of the level of success in a marketer's career....  Decision-making among consumers is the fundamental determinant of the level of success in a marketer's career.... Without understanding the consumers' mind, which influence their behavior and decisions on a product based on the factors articulated in these article, a marketer will not achieve his or her objectives....
3 Pages (750 words) Essay

Coca-Cola Marketing Mix

Evidently, it was Candler's marketing expertise… This market dominance persuaded the company to introduce more cola products such as Coca Cola Vanilla and Coca Cola Cherry under the Coke brand.... The company was selected as the This paper will analyze both the Coca Cola's traditional marketing mix and the internet marketing mix with regard to its business operations in the UK market....
5 Pages (1250 words) Research Paper

Targeting and Positioning of a Product

For changing beliefs about the brand, the marketer needs to create awareness about the brand amongst the target consumers.... For doing so, the marketer needs to communicate the unique values of the own brand.... Talking from the marketer's point of view, it can be said that the British Airways advertisement tried to develop a local connect.... This paper talks that segmentation, targeting and positioning (STP) of a product is a vital part of any marketing plan since it helps in a great way in communicating the values of a specific product to the right customer segment....
2 Pages (500 words) Essay

Marketing Planning and Strategy (Organizations or Individuals) 1

If a marketer has the capability of analyzing these features of their potential customers, then they can tailor their marketing strategies.... According to Gilligan (2012) marketing strategy refers to a… s that enables an organization to use its resources while taking advantage of opportunities with the aim of increasing sales and achieve suitable competition in the market. A consumer's role in marketing is more important as compared to the marketer's role for a marketing 27th February, The Role of Consumers in Marketing A marketing plan refers to a blueprint which is comprehensive and outlines the overall marketing efforts of an organization....
1 Pages (250 words) Assignment

Marketers Diary: Pricing, Differentiation, Profiling, Segmentation and Targeting

The "marketer's Diary: Pricing, Differentiation, Profiling, Segmentation and Targeting" paper describes and analyzes niche product marketing of Nike company, and marketing in oligopoly competition of Procter & Gamble (P&G), Unilever and Colgate-Palmolive.... al-Mart has the objectives to retain status as the world's largest retail chain stores and to offer best quality products at the lowest prices and hence the marketer must also function as the eyes and ears of the company and alert it on the way competitive forces are shaping up from time to time....
9 Pages (2250 words) Case Study

Marketing as the Most Important Aspect of Every Business

The paper "marketing as the Most Important Aspect of Every Business" states marketing strategies should address the marketing mixes like the product, promotion, price, place, etc.... If proper communication does not occur between the marketer and the customer, it is difficult to achieve results.... At the same time, marketers should realize that the market undergoes changes and the customer requirements need to be given more emphasis than the marketing mixes....
8 Pages (2000 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us