3. Thus, marketing information system through adequate research, planning and programming is essential for an institutional approach to marketing. The consumer-oriented approach of marketing brings out the following in particular: (1) Marketing is a system of business activities; (2) Marketing is an important managerial function; (3) Marketing is the end-result of many other activities; (4) Marketing is designed to plan, promote, distribute the product car service; and. (ii) organising the business to meet these needs. No plagiarism, guaranteed! Marketing agencies or channels of distribution, 3. e. distributes in a manner through channels that suit the convenience of the consumers most. (2) Uncontrollable variables like business environment, competition, and society. 1. It is believed that this approach helps in increasing the profitability of the firm through betterment of the markets and marketing institutions (like wholesalers, retailers, etc. Value of goods is expressed in money and it is denoted by price to be paid by a buyer to a seller. That is why, it is stated that the marketing is the creation and delivery of a standard of living to people. ), the products, and the society. Along with positive brand image, the effective promotion can contribute to the fast and effective business development. Equipped with latest market information, risk of loss can be reduced in purchasing, in pricing, in forecasting market demand and in facing competition in the market. (5) The variety of activities involved in marketing function create diverse job opportunities and employment. Under this management, company can produces highly satisfied consumers who stay loyal and willing to buy more, which means that, the company will gain return in a long-run and this will help them to expand their business as well. It focuses its attention to corporate objectives, including profit.         As a conclusion, marketing has been changed from ‘inward looking’ discipline era, which always focus on the organisation produced to the ‘outward looking’ discipline era, which bring a greater understanding of market and consumer into the organisation. This system suffers from certain limitations or drawbacks, as follows: (a) The method depends on one party to be able to satisfy another party’s wants which poses difficulties in most situations; and. Kotler and Armstrong (2008) defined marketing as an exchange system which fulfill the needs and wants of individuals. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. (Berkowitz, et al., 2000)  On the other hand, there are five concepts from marketing management to help build a commercial relationship with target market. Under the system, oily such products are brought forward in the market’ which are capable of satisfying the tastes, preferences, and expectations of the consumers, this stage, in the evolution process of marketing, ushered in a major breakthrough in the outlook of the producers towards marketing. Privacy Policy 9. Promotion in Marketing Essay Promotion in Marketing Essay In the contemporary business environment, promotion plays the crucial role for the effective business development. Securing and using market information is a mark of good marketing management. (d) The marketing process comes to an end as soon as the products reach the consumers. Essays on Marketing. In this sense, F.E. There are many ways to define ‘marketing’. Kotler and Armstrong (2008) defined marketing as an exchange system which fulfill the needs and wants of individuals. (Middleton, V. T.C. 2. There are various types of advertisements... American Culture that can be Identified in a Brand Name essay Contingency approach to marketing management refers to this. Many people find it difficult to … (3) Marketing reduces the imbalance in the markets by channelizing surplus production to the deficit areas. (a) The marketing functions are difficult to be identified and listed precisely; (b) The product planning and its design and development are very much linked to the production function than the marketing function; (c) The different marketing activities and associated problems are given too much importance; (d) The managerial activities which are vital and significant to the total marketing system are under-estimated; and. In a systems approach to the study of marketing, the marketing function is viewed as a sub-system of the society as well as of the entire organisation. Copyright 10. Marketing strategy normally lasts for one as much as 5 years. The hierarchy of Apple’s organisational structure contributes to strong management control within the company. According to Barwell, marketing consists of identifying, anticipating and satisfying customer needs and desires. (b) The method necessitates the determination of a rate of exchange which is difficult to arrive at in nest circumstances of the trade. Increased production of goods and services leads to higher national income. 6. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. The Marketing Mix and 4 Ps What is marketing? Goods are already produced. Marketing essays Marketing is a process of understanding consumers and devising ways of providing goods or services based on the demands of the consumers. (3) Selling aims at profit through sales volume, i.e., more sales, more profit, marketing aims at profit through serving customer needs or demand. The evolution process may be charted as follows: It may be regarded as the initial beginning of the concept and approach of marketing in the evolution process. (2) Greater attention is given to the product planning and development so that the merchandising can become more effective. Marketers strive to achieve their objectives using specific tools, such as ... View details. As consumers are constantly exposed to all aspects of marketing consumers might be mislead or manipulated into buying a product that does not meet the requirements it is advertised for. Students can be asked to introduce some past and present day marketing concepts, as well as discuss a company and its marketing strategies. Essay on the Approaches to the Study of Marketing: Essay on the Evolution Process of Marketing, Essay on the Approaches to the Study of Marketing. Find paragraphs, long and short essays on ‘Marketing’ especially written for college students. (The Times 100, 2010) Promotion encompasses all the communications activities of marketing: advertising, public relations, sales promotions, personal selling, and more.        Next is the customer-driven marketing strategic designed. Essay on the Evolution Process of Marketing: 4. 2. Essay on the Definitions of Marketing: 3. Marketing essays are complex because they require extensive research, experience in marketing management and accuracy. Customer-orientation, profitable sales volume and integrated marketing activities are the three pillars of the marketing concept. Too much attention to the product, at times, inhibits the process of understanding the consumer behaviour and interests. If you need assistance with writing your essay, our professional essay writing service is here to help! The process is based on corporate goals and corporate capabilities. To write about marketing, it is important to understand what is the ultimate purpose of the discipline. Customer enjoys the unique importance. Descriptive : A descriptive essay is quite similar to a narrative essay. As a sub-system of the society, marketing represents a large number of institutions such as retailers, wholesalers, agents, middlemen, transport agencies, and all those institutions that assist in the continuous flow of goods and services from the producer to the ultimate consumer.        Marketing is managing cost- effective consumer relationships. Essay on the Definitions of Marketing: The term ‘marketing’ has been defined in various ways by different authors. This approach is also called firm- oriented approach and emphasises the need of managerial decision-making for effectiveness in the marketing efforts. The marketing strategies, company policies, the mission and vision statement, objectives, handling business and marketing decisions making is all done by the Top Management of a company. You can view samples of our professional work here. In all these areas, the management has to develop and adopt procedures for planning, organising, directing, reviewing, controlling, etc. The other concept is the marketing concept, which focuses on knowing the needs and wants of target consumer and delivering value to them. More recently, the management experts have come to realise and recognise the contingency nature of organisational management. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Flow of goods to satisfy market demand and. In a systems approach to the marketing function, the following questions are usually asked for an understanding: (1) What are the strategic parts of the marketing system? It is continually changing in response to the explosion of information, the expansion of technology, and the aggressiveness of competition, at all levels and everywhere. These are not being achieved on account of all normal inflationary factors and paucity of skilled labour force. While ( Lancaster and Withey, 2007) also stated that marketing is a management which foresees and satisfies the consumer needs timely. This is because papers on marketing are not only considered as school requirements but are mostly used in the professional field. Disclaimer 8. A marketing essay is a type of persuasive writing, which strives to promote services or goods. (Drucker, 2001) Hence, advertising has become the only part of tools for building customer relationships through marketing process. (c) Demand creation through salesmanship, advertising and sales promotion. Essay on Marketing: Meaning, Definition and Concept! Importance of marketing concept in our lives Marketing can be defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.Marketing is a product or service selling related overall activities. Marketing agencies are the media of marketing management for operating the marketing programme. All the marketing essays ordered are written specially for each customer, so there’s no need to worry about originality. Report a Violation 11. The following classified functions cane under this approach: (a) Functions of Exchange (Transfer of ownership): (b) Functions of Physical Supply (Physical transfer of products): The study and analysis of the above functions help in understanding the marketing process and provide the bases for formulating marketing policies and practices around these functions. Huge Collection of Essays, Research Papers and Articles on Business Management shared by visitors and users like you. 12th Jun 2017 Thus, we have integrated marketing activities throughout the firm. This approach to marketing is concerned with the formulation of policies and practices around the institution as a whole and involves considerations of the manufacturing and distribution systems. For a marketing function to be successful, it must continuously adapt to the business environment, and modify the methods of production and distribution and develop a structure which meets the opportunities and problems at hand. Credit is necessary in marketing. Channels of distribution use marketing resources to perform marketing functions necessary to satisfy demand. This approach to the study of marketing’ emphasises the necessity of the marketing function far the good of society. The environment within which the marketing organisation functions is frequently changing on account of changes in technology, economy, etc. Reference this. As an entity sub-system, marketing co-ordinates the resources of production and distribution of goods and services, determines and directs the nature and scale of the total efforts required for selling, and initiates research and development far consumer satisfaction. Functions necessary to satisfy demand decision-making aspects all about marketing essay are meant to ensure the flow of goods in the process finding... Briefly some of the current global market and industry demands starting point in the marketing all about marketing essay. 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