Explain The 4 Ps Of Marketing - 1194 Words

Marketing Marketing is the process where goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P s of marketing. These 4 P’s include product, price, place and promotion. Marketing Objectives Marketing objectives are the group of targets set by a business when promoting its products/services to potential customer that should be achieved within a given amount of time. A company s marketing objectives for a particular product might include increasing product awareness among targeted consumers, providing information about product features, and reducing consumer resistance to buying the product. The Marketing Concept This is the philosophy that firms should analyse the needs of their†¦show more content†¦However, these managers are sometimes caught up in a love affair with their product and do not realize what the market needs. The Selling Concept is another common business orientation. It holds that consumers and businesses will ordinarily not buy enough of the selling company’s products if they are left alone. The organization must, therefore, undertake an aggressive selling and promotion effort. This concept assumes that consumers typically show buying resistance and must be persuaded into buying. It also believes that the company has a lot of ways for effective selling and promotional tools to increase sales. Most firms practice the selling concept when they have overcapacity. The Marketing Concept. This is a business philosophy that challenges all of the other business concepts. It says that its organizational aims consists of the company being more effective than their competitors in creating, delivering, and communicating customer value to its target customers. Business Objectives Business is an organization or economic system where goods and services are exchanged for one another or for money. Every business requires a certain form of investment and enough customers to whom its output can be sold on a consistent basis in to make a profit. A specific result that a business aims to achieve within a time frame and with available resources. The business objectives set by these companies should be ‘SMART’, this stands for: SpecificShow MoreRelatedEssay on Marketing and Case Study1222 Words   |  5 Pagesof the marketing concept. 2. Explain Britvic’s micro and macro environment. 3. Explain why market research and the information gathered are important to an organisation like Britvic. 4. Explain how Britvic might collect and use market research information. Include one quantitative and one qualitative research technique in your response.  5. Explain the process of marketing segmentation and targeting and the benefits of segmentation and targeting to Britvic. 6. 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