Marketing in a Business Organization

Marketing in a Business Organization

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Marketing in a Business Organization

INSTRUCTIONS:
Principles of marketing need to be understood by managers in order to develop and implement effective marketing practices. But the principles are only effective when applied with a consideration of the social, psychological, ethical, and political influences that impact a market. Select a specific product or industry and develop a paper demonstrating your ability to apply the concepts covered in class and analyze the issues affecting the particular market. Topics Covered in Class Market Segmentation Marketing Environment Marketing a New Product Competition Product Life Cycle Customers Needs and Wants Future of Retailing Marketing to Children Changes in the Retail Industry Social Responsibility and Ethics
CONTENT:
Marketing in a Business OrganizationName:Course:Professor Name:(March 31, 2012) Marketing in a Business OrganizationIntroductionMarketing is the process by which entities, businesses or organizations capture value from their customers by promoting the sale and distribution of a product or service. It is the whole process of capturing the attention from customers regarding the product or service provided by a business. Every organization needs to have a strong marketing department to ensure that proper marketing is done with an aim of capturing a large number of customers to withstand competition from other related organizations. Competition among organizations is healthy as this ensures high quality goods and services which are of benefit to the consumers (Federal Trade Commission, 2012). This is where good investment in marketing comes in. Spending heavily in productive marketing means that many customers are made aware of the goods and services provided by an organization which is vital in decision making. This paper seeks to analyze the Principles of marketing needed to be understood by managers in order to develop and implement effective marketing practices.Main BodyCoca Cola is one of the biggest international companies. It is an American based organization and it is widely known for its non alcoholic beverages (The Coca Cola Company, 2012). Its success in the international market is due to great venture in marketing of its products. It faces stiff competition from another non alcoholic company known as Pepsi. However, Coca cola has an upper hand in the industry and this is brought about by its policies and tactics regarding marketing around the globe. It has ventured into both rural and urban markets attracting large numbers of customers for its wide range of products. The success of the company is brought by implementation of effective marketing practices by its managers which are applied with a consideration of the social, psychological and ethical factors which have a direct impact on its market.There are various principles of marketing which are vital to any organization in dictating the sale of its products and services. An organization like Coca Cola has to adhere to these marketing principles to ensure a well promising future and long-term existence in the market. The following concepts are a guideline to an effective marketing practice.Market SegmentationMarket segmentation is the identification of groups of customers which vary from each other and working towards satisfying them equally in regards to their needs (Internet center for management and business administration, 2010). The non alcoholic beverage industry run by The Coca Cola Company should incorporate this concept into their marketing strategy. It`s necessary to identify and understand their different customers for their different commodities and work in satisfying their needs. Mass marketing and target marketing are two ways market segmentation is carried out. Mass mark...
 
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