Why you should study marketing Assignment

Why you should study marketing Assignment Words: 490

Marketing Is deemed as the mall strategy of a business since most of them use marketing plans in some way. Marketing Is used on a day to day basis to reach out to its consumers whether they exist, new or even potential. Customer segmentation is also a good reason to study marketing as you would have to put customers in to individual groups for a company to target such as reference groups, family, social rules and status. All of these could tell the marketing team a lot about the consumer. [correlates. Rig] [G, Parrot, 2014] Marketing is relevant to a business as racketing is used to collect quality data and form creative ideas. Everything that you would need to work in a business and accomplish would need a marketing plan and the following should be looked at: marketing strategies, marketing objectives, soot and pestle analysis, current market position and also market overview. Whenever talking about why people should study marketing I like to quote Peter Trucker “There will always be need for some selling. But the aim of marketing is to make selling superfluous.

The alma of marketing Is to know and understand the customer so well hat the product or service fits hell and sells Itself. Ideally, marketing should result In a customer who is ready to buy. All that should be needed is to make the product or service available”. This shows that marketing is more than advertising or selling it is also used to understand consumers as they can change at any time through buying power, self- expression, and self- service or even make or break the business. [R, Swami, 2013]. A company that shows why marketing is important is Coca Cola as they are very successful.

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They have shown a commitment to responsible marketing for many years and this is long- standing. [coca-cola. Co. UK] Coca cola have a Responsible Marketing Charter which Is a set of principles that conducts their entire approach to marketing. This makes parents happy who are the consumers of coca cola as they decide whether to buy drinks for children under the age of 12 as it may not be suitable for their family. This is good marketing as they have spoken to their consumers to give the company a good name and to ensure they keep delivering a did variety of great quality drinks. R. Mclean, 2012] There are 4 CSS when looking at marketing and this is what companies look at and which is also why companies should study marketing. Cost- this is what the customer has to pay instead of the price they pay so a market research on what other competitors charge would be useful Choice- marketing studies the needs and wants of a customer. Communication- engaging with customers builds customer confidence that drives sales Convenience- marketing is essential in the manner of making it easy for the consumer to choose the company.

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