The Concept and Process of Marketing

The Concept And Process Of Marketing Essay
1. The Concept and Process of Marketing
Marketing can be characterized as a mix of behavioural and management sciences which are driven by instinct, imagination, motivation and
transformation. An experimental methodology is needed by marketing to outline more up to date items. It requires expertise for recognizing new
channels. Marketing additionally provide a broad certain idea which gives an individual the capacity to make an interpretation of thought without
hesitation.
Elements of the Marketing Process
A company aims to make the profit through marketing processes. Data gathered through market research is used to develop a marketing plan by the
marketers by settling on choices about their objective markets, their products in the market and the connection they want to set up with the customers.
Many experts have a different ideology about the components of the marketing process. Figure 1 illustrates the key components of the marketing
process.
Elements of the Marketing Process Figure 1
Source: Made by Student (2012)
Needs and Wants: An individual's "need" is felt when an individual is dispossessed with any of his essential fulfilments. Individuals need nourishment,
house to live in, apparels and so forth. Requirements are the essentials of survival. They can 't be built by any marketer. Wants is aspiring for
something that fulfils needs. For instance: I am hungry yet I need a burger. The requirement for nourishment is a
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Marketing Essay
Marketing
Marketing is about understanding the customer needs and making sure that the products fit the customer's needs as well as finding ways to influence
the customer's behaviour.
Aims and objectives
An aim is a statement of purpose that outlines what the business wants to achieve, it is a general goal e.g. to gain profit.
An objective is a statement of how the business will achieve their aims it contains specific numbers and dates, they are SMART. For example achieve
4% profit by the end of 2006
Businesses need to have aims and objectives in order to have a direction to follow and gain the best they can out of their business.
Objectives of a business need to be SMART, this means:
* Specific...They need to relate...show more content...
The costs of marketing is an internal constraint, it relates to the fact that when a company grows it needs to have more finance to be able to fill the
customers needs. When the business wants to develop new products and services it needs more financial resources, if they don't have enough resources
it limits how well they can expand. Businesses may also need to bring in skills form outside of the organisation to help with their marketing strategies;
this also costs in the financial resources.
External – outside of the business there are also many constraints.
These include
– Consumers (they will not be interested in the business if it is not consumer–focused)

– Competitors (if a competitor in the same market already has an advantage then it is very difficult for a new business to market a product.)
– Economy (If there is a period of economic recession when customers have falling incomes marketing a luxury product will be difficult)
– Law (There are many laws that restrict the way a product can be marketed by a business.)
Functional areas
Businesses need to be broken down into different functional areas. The functional areas in a business all support the marketing department.
They are:
* Finance – The marketing department have to work within a budget that will support their TV advertisements, direct mail, PR, and
other

Marketing Strategies Essay example
Price, product, place and promotion, the four Ps of marketing, are fundamental for successful marketing communication. One of its goals is building
and reinforcing relationships with clientele, retailers and other people who the company markets their products to. But the main objective is to reach a
target market and affect their behavior through informing, convincing and reminding. They must reach out to new consumers and persuade then them
to purchase their product, while at the same time they must preserve their current customers. But the no matter how good the promotion, it can never
substitute for quality, enormously high prices or inadequate retail distrabution....show more content...
(http://media.wiley.com/product_data/excerpt/48/04713472/0471347248.pdf)
Environmental scanning, understanding the businesses target market and examining the external environment, also, is integral to determine business
opportunities and threats. To remain in existence, a business must be prepared to change their business strategies. This external environment includes
market trends and the social, political and economic environment.
(http://media.wiley.com/product_data/excerpt/48/04713472/0471347248.pdf)
A product typically has a four stage life cycle, with includes the introduction, the growth, the maturity and the declining stages of the product.
Technology generally has a shorter lifespan. Therefore, new product must be introduced earlier in the product's life span. (http://www.udel.edu/alex
/chapt12.html#life)
The introductory stage is when a new product is introduced to the market. A new product includes new models of an item that has already been in the
market. During the introductory stage of a product there is a very high failure rate. It varies from 60%–90%, depending on the trade. (http:/
/www.udel.edu/alex/chapt12.html#life) During this stage the company's marketing objective is to let the target market know of its existence. Push and
pull strategies, with ads and coupons, must be used. (http://www.learnmarketing.net/promotion.htm)
The product enters the growth stage next. As the product starts to be accepted by the target

Essay on Marketing Process
#1.The Marketing process is made up of simple concepts that involve lots of research on the part of the marketer. The process begins with
understanding the consumer, without knowing what consumers need or want, it would be extremely hard for firms to both develop and sell a product.
Knowing that consumers want more green products due to growing environmental concerns is a very important detail. Needs and wants are what fuel
consumer purchases and marketers must perform research in order to best serve their customers. Through this research, marketers are led to the next
step of the process and can now develop a customer driven marketing strategy. Here, the firm must decide how it will differentiate its product from
others on the market....show more content...
This first strategy calls for the creation of more sales without changing the original product, which can achieved through the four P's of marketing. The
next strategy, market development, allows the supplier to find new markets for their current products by using demographic markets to see where the
greatest revenue will be based on the target group you are selling to (seniors, teens, etc.). Product development is the next strategy which focuses on
new products the modification of current products. This strategy is rather important as without evolving products to meet the ever changing needs of
current and potential companies can see a loss in sales and would limit their ability to be competitive in the market. The final strategy is diversification.
This strategy calls for companies to attain current or new businesses allowing them to "diversify" their offerings and break into new markets.
By using Marketing strategy, organizations concentrate their resources on the greatest opportunities to increase sales and maintain a competitive
advantage in its market (Wickipedia, pg1).Market segmentation is the process companies use to divide their market into groups of buyers and establish
marketing tailored to individual groups. Market targeting is the process of actually choosing the market which poses the greatest profitability.
Positioning involves product placement and helps marketers highlight their product over a competitor. The

Essay about What is Marketing
What is Marketing
1. Introduction
1.1 Purpose
The purpose of this report is to get all of the management employees of Proton in all of the departments outside marketing to familiarize with what
marketing is and also to show its importance in the company.
1.2 Background
Proton is the biggest Malaysian automobile manufacturer. Proton automobiles are available in many countries such as China, Singapore, Australia,
Algeria and United Kingdom. Proton has commanded the local automotive market, and will continuously dominate in the pursuit of being 'Customers'
Number One Choice for Automotive Products and Services'...show more content...
It is crucial in marketing to have a clear knowledge of the needs, wants and demands of the consumers. To achieve this, market research is carried out.
By going through a market research, Proton can find out more information on what consumers think of Proton's product. Upon getting the information,
Proton can make adjustments and improve products to satisfy consumers' needs, wants and demand.
3. Why Marketing is Important
"Marketing management is accomplished by carrying out marketing research, planning, implementation, and control" (Kotler, 2004). Marketing plays a
major role in every business. It is very important as it contributes to the profitability of the company itself. "Relationship marketing involves creating,
maintaining and enhancing strong, value–laden relationship with customers and other stakeholders. "They must build strong economic and social ties
by promising and consistently delivering high quality products, good service and fair prices," (Kotler, Brown, Adam and Armstrong, 2004, p11).
Furthermore, when both customers and producers are mutually beneficial from this relationship, profitable transactions will follow. Knowledge of
marketing strategy and market research is crucial in order to excel in marketing.
3.1 Five key factors to an effective marketing
Forsyth (2004) stated five factors which summarizes the effectiveness of marketing.

a) Customer

Role And Importance Of Marketing Essay
(Q1)
Role and Importance of marketing
An organization which undertakes proper marketing strategies can become famous not only in the home markets but also in the export market. For
example, Sony, Coca–Cola, Pepsi etc. Proper marketing help to enhance company's reputation.
Proper marketing ensures a company for optimum production. Organization at greatest risk are those that fail to carefully monitor their customers and
competitors and not done their marketing campaign properly. So marketing always avoiding risk by research and development. Every organization
wants to earn higher profit. A successful marketing strategy can help to achieve higher profit and financial success. Marketing helps an organization to
achieve a healthy competition. Marketing efforts get the world out on pricing of products and services, which not only reaches the intended consumers
but also reaches other companies competing for the business.
An organization always wants to sales their product at higher level. only marketing can help them to fulfil their level and satisfy respectful customers.
Evolution of marketing
Simple trade concept: In this era everything available was made or harvested by hand and available in limited supply. This era is described as having
lasted from the beginning of time through the mid –19th century.
Production concept: This marketing concept lasted approximately 60 years from the 1860's until 1920's. This is the era of the field of dreams business

What Is Marketing?
INTRODUCTION
What Is marketing ?
Marketing is the method of communicating the value of a product or service to customer for the persistence of selling that product or service.
Marketing techniques contain choosing target markets through market study and market segmentation, as well as kind consumer behaviour and
advertising a product's price to the customer. From a societal point of view,marketing is the link between a society's material needs and its economic
patterns of response. Marketing satisfies these needs and wants through exchange processes and building long – term relationships. Marketing balances
art and useful science (such as behavioural sciences) and makes use of information technology....show more content...
However ,selling and advertising are only the tips of marketing .
Today marketing must be understood not in the whole logic of making a sale "telling and selling "but in the new sense of sustaining customer needs. In
the market understanding the customer and his wants is an important task .selling together to please customer needs and form customer relationships.
Broadly defined, marketing is a social and administrative process by which individuals and groups gain what they need and what they want though
creating and exchanging value with others . In a narrower business contexts ,marketing includes building profitable ,value landed exchange relationship
with customer .Hence we define marketing as a process by which companies form value of customers are build strong customer relationship in order to
capture values from customers in return .
Customer buying behaviour
customer buying behaviour refers to the buying behaviour of final consumer – individuals and families who buy goods and services for personal
consumption . All those last consumers combine to make up the consumer market

Marketing Ethics Essay
Marketing Ethics
The question of whether or not marketing is completely unethical is the question most critics of marketing seem to be focusing their attention on.
Ethics provide the basis for deciding whether a particular action is morally good or morally bad (Britt 553). But, each individual develops different
opinions, moral standards, and values. So, marketers will deal with similar issues differently because there is no "correct" way to handle any given issue.
Marketers face various types of ethical issues in their everyday marketing activities. Such marketing activities that require marketing managers to
utilize their moral values ethically are advertising, packaging and labeling, and global marketing....show more content...
The FTC has also set forth specific rules to govern certain advertising practices such as bait–and– switch advertising. Bait–and–switch advertising
occurs when a seller advertises a product at a very low price to lure in consumers, but when customers come in to purchase the product; the seller either
doesn't have the product available or the product is of very low quality and the seller then encourages the customer to purchase a more expensive
substitute. The Federal
Trade Commission also enforces laws that govern packaging and labeling.
In the past, there had been much criticism concerning packaging and labeling, so much that in 1966 the Federal Fair Packaging and Labeling Act was
passed. The Act requires that labels must be accurate and easily understood by consumers. The Act also governs packaging descriptions and savings
information that is disclosed on labels (Miller 529). Marketers face some morally difficult situation in which they must make ethical decisions. Such a
situation could be:
The marketer's Research and Development department has modernized one of the companies products. The product isn't really "new and improved",
but the marketer knows that putting that slogan on the package and advertising it would increase sale. What should the marketer do? This is one type
of situation that

Social Marketing Essay
Marketing is defined as follows: Marketing is the process of interesting potential customers and clients in your products or services. In this essay, I
am going to address the concept of "social marketing" and how does social marketing differ from "societal marketing" or "socially responsible
marketing" in the first part, and in the second part, I am going to provide examples of each of the three approaches to marketing and analyse how these
represent a departure from traditional marketing practice.
Social marketing is the systematic application of marketing, along with other concepts and techniques, to achieve specific behavioral goals for a social
good.1 Social marketing is the design, implementation, and control of programs calculated...show more content...
In social marketing, exchange focus on voluntary behaviour. Social marketers have to provide people something that they really want in order to
facilitate voluntary exchanges. As the same as general marketing, social marketing ought to have a long–term planning, which begins with current
status and charts out a path to the projected status, and generally includes short–term operational or tactical plans for achieving interim goals. Exercise
aimed at formulating a long–term planning, to meet future needs estimated usually by extrapolation of present or known needs.2 The social marketing
planning process finishes with research in general, it helps people find out what they really want and informs the development of the strategy. First
marketers need to be clear with the situation to analyse the internal and external environment for defining the target of the plan and consider what
resources and strategies we can use to change the recent situation. The last evaluates the outcome and it is shown the improvement of the panning. The
aim of the relative success is to influence more people, as this is another purpose of social marketing.
Marketing can be describes as a "social process by which individuals and groups obtain what they need and want through creating and exchanging
products and value with others". The societal marketing is enlightened that a company should make good marketing decisions by considering what

The Benefits of Studying Marketing
My interest in marketing stems from my enjoyment in the vast majority of business facets, marketing being the most captivating as it stimulates lateral
thinking and creativity. Business management is the body and marketing is one of its aspects, it is one of the vital organs required to make it function
adeptly. Marketing covers the four leading aspects of the consumer world: promoting, selling, researching and advertising, which are crucial in
maintaining a good and well established market. The market is what reflects the national income of the country therefore its efficiency and value is
something which affects everybody's lifestyles. Without the world of marketing, it is hard to foresee how the economy would be effective. The
power of marketing can manipulate a person's view of a product or service and if a whole nation's view cannot be moulded to buy goods, the economy
will eventually reach an ultimate low.
The diversity of my A–Level courses has complimented my decisions to study marketing. Studying Applied Business is paramount to have given me
the skills to be able to manage my time effectively. During my AS Applied Business, one of the topics I covered was meetingcustomer needs, which
had intrigued me, as within this I had to explore different types of customers that businesses deal with and the various needs that customers have
regarding the quality of products and after–sale services, as well as the way businesses differentiate their products by core, actual

Essay on Marketing Principles
Marketing Principles
Marketing is all about understanding the customer and ensuring that products and services match existing and potential customer needs. Marketing is
essential to a business and without it a business cannot give its customers what they want.
There are five main points to marketing and they are,
В· Understanding customer needs
В· Understanding and staying ahead of competition
В· Communicate with customers to satisfy expectations
В· Co–ordinate its market functions to achieve its' marketing aims
В· Be aware of marketing constraints.
These points seem very obvious and basic, and yet they are all very in–depth, and very important to a business that is involved in...show more content...
Understanding and keeping ahead of competition ––––––––––––––––––––––––––––––––––––––––––––––
One of the key factors in any market is the existence and strength of competition. In a competitive environment organisations are forced to be on
their toes. They cannot allow rivals to gain advantages and bigger market shares by offering lower priced goods or services. This is the same for
Pepsi In order to be successful, Pepsi will have to gear their activities to being better than all of their competitors. To keep ahead of the competition
constant research, and opinion asking needs to be done, both using primary and secondary sources of information. I had to understand how my
competitors operated and try to stay ahead and more functional than them in areas such as price, and promotions.

Communicate effectively with customers to meet expectations. ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
An effective network of communications is essential for any form of promotional activity. It will enable Pepsi not only to communicate with its
customers, but to also satisfy their expectations. There are many ways to do this including,
В· Adverts
В· Direct mail
В· Public relations
В· Sales promotions
В· Sponsorships
В· Product presentations
В· Direct selling
Good communications played a large part in my advertising campaign, by

Marketing Essay
Chapter 1 Marketing Creating and Capturing Customer Value 1) According to the five–step model of the marketing process, the first step in marketing
is ________. A) capturing value from customers to create profits and customer equity B) constructing an integrated marketing program that delivers
superior value C) building profitable relationships and creating customer delight D) understanding the marketplace and customer needs and wants E)
designing a customer–driven marketing strategy Answer D Difficulty Moderate Chapter LO 1 Course LO Discuss the fundamental concepts of
marketing 2) ________ are defined as states of felt deprivation. A) Needs B) Ideas C) Demands D) Values E) Exchanges Answer A Difficulty Easy
Chapter LO 2 Course...show more content...
A) societal marketing B) marketing C) selling D) production E) product Answer E Difficulty Moderate Chapter LO 3 Course LO Discuss the
fundamental concepts of marketing 15) Voize, a leading mobile phone manufacturer, focuses on low labor costs and mass distribution to ensure the
continuous availability of its products at reasonable prices. Voize most likely follows the ________. A) customer–driving marketing concept B)
marketing concept C) societal marketing concept D) production concept E) selling concept Answer D Difficulty Difficult Chapter LO 3 Course LO
Discuss the fundamental concepts of marketing AACSB Analytic thinking 16) According to the product concept, a company should ________. A)
make products that

Marketing Analysis Essay
The four P's, product, price, place, and promotion, are important to the success of any organization because they are the variables that marketing
representatives of the organization can control in order to best satisfy customers in the target market. The goal is to make decisions that center the
four P's on the customers in the target market in order to create perceived value and generate a positive response. The Product is the physical product
or service offered to the consumer. Products and services vary greatly in the hospital environment. This can include anything from rehabilitation
services to valet parking. Price is created based on several factors. The factors considered in pricing decisions include but not limited to account...show
more content...
Place (Distribution) is usually done on the back end in a hospital environment. The internal customers are typically affected when inadequate
distribution takes place. Promotion decisions are related to communicating the product to the target market. Promotions are used to introduce the
product to the target consumers to obtain an assessment of the products' propensity to sale in the market. Hospitals use promotions for a variety of
scenarios. Although promotion is an important part of the marketing mix, it must be done with careful consideration and extreme tact in health care.
This is as a result of the environment and the current products and services the industry provides. WellStar currently partners with several professional
sports teams, such as the Atlanta Hawks Basketball Team, Atlanta Braves Baseball Team, and Atlanta Beat Professional Soccer Team in Metro Atlanta.
Their ultimate goal is to partner with organizations that provide a healthy image to the communities in which they serve. This partnership is very
valuable to WellStar because of the teams' national recognition. Although WellStar does not provide services nation wide, they are nationally
recognized for several other endeavors such as NAFE, Medical Imaging, Emergency Services, Diabetes Management Programs, etc... Their goals are
aligned with the reputation of the professional sports teams have that is

Reflection Paper On Marketing
At the beginning of this class, my main objective was to learn more about finance and learn about marketing. When I first review the class's syllabus,
I thought this class would be mainly about marketing and investments, but I was glad to find out that the class was about more than just marketing. I
would definitely say that I met my objectives and even more because I learned more than I was expecting. This class helped developed a security
about a business idea that was on my mind for years which is having my own private investigations company. Before this class, the idea of owning a
company about something that I am very passionate about was only just an idea and I never thought I could have been developed a possible marketing
plan. Thanks to this class, I was able to work on a marketing plan for my dream company. Even though some assignments were difficult, I felt that no
one could have taken the excitement I felt every single time I sat down to work on my own business marketing plan.
It is important to mention that my feelings about this great experience are truthful. I understand that some people might say that most students are not
truthful when given feedback about the class or the professor because they fear retaliation, but I am very happy to say this is not the case for me. I
am a very truthful person and I say it how it is, I am not the type of student that would write something nice to make the professor feel better or to
avoid a low grade, I just

Marketing Definition Essay
Marketing definition
Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants
and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before
considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has
been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.
Another definition of marketing is the "selling of products or services: the business activity of presenting products or services in such a way as to...show
more content...
This entire process is known as marketing management " the art and science of choosing target markets and getting, keeping, and growing customers
through creating, delivering, and communicating superior customer value" (Kotler & Keller, p.5).
To be successful in business, "a consumer does not buy a whole of physical components of the product but it is usefulness, function, satisfaction of
consumer's needs, solving the problem, etc" (Dubrouski, , p.1). "That is why the product is a whole of tangible and intangible components which
means satisfaction of consumer's needs and desires, solving the problem"(Dubrouski, p.1). Companies and managers must learn to utilize marketing
research, as well as, strategy skills to fulfill customers' satisfaction. Management has to focus on exclusive marketing challenges presented by the new
era of the 21st century. Management has to be able to utilize inventive, dominant, and cost effective marketing techniques that will support the future
success of the organization. Companies must meet,"the increasing importance of services as part of a product (offer, offering package) which cannot
be neglected" (Dubrouski, p.1). Exploring the purpose of market research, as well as, evaluating the importance of such research, facilitates managers in
realizing the importance of marketing to an organization's success and to be globally competitive.
In the article: It is time

Marketing Essay
POSITIVES OF MARKETING CONCEPT OVER NEGATIVES OF TODAY'S MARKETING PRACTICES
By Student's Name
Institution
Professor
Course Code
Date
Marketing is one of the fields in business management. The field involves business organizations and their customers as the key players. Marketing
involves an organization or a company identifying and anticipating their customer's needs and satisfying them in a profitable way. Marketing is a broad
field and it encompasses marketing concept and marketing practices. Marketing concept is a marketing philosophy that advocates for selling products
or services that are benefit oriented instead of product oriented. Benefit oriented products and services seek to satisfy the needs of customers while
product oriented...show more content...
Customer orientation is one of the keys to successful marketing. Marketing concept has the positivity of facilitating customer orientation. Customer
orientation oversees that the needs, wants and desires of the customers receive top consideration in all business activities (Kumar& Sharma1998).
A business organization must have the needs of the customers at heart in conducting its activities. A good illustration can be when a company is
making its decisions in various activities such as product development, advertisement and sales promotion. The company has to consider the needs of
their customers and the impacts that the activities shall have on their customers. Company will have to answer some questions such as; what are the
needs of our customers? How can we best meet their wants? Are the customers going to be satisfied with our services? These questions shall help the
company streamline its activities and decisions towards satisfying the needs of its customers.
The marketing concept also promotes product planning and development. Product development refers to the continuous improvement of a product to
meet the changing needs of the customers. Customer needs is the prime focus of the concept and therefore, a company strives to meet these needs. The
needs change with time hence the company can meet them by either developing their products or producing other new ones. Designing and producing
new products is expensive and risky as the new

Successful Marketing Strategies Essay
Marketing is a vital component in the success of businesses. Smaller businesses rely on business advertising, expenses, knowing if the business is
networking with the right people, or joining the best organisations which lead to success (EStartup business blog, 2010). Marketing concentrates on
customers and what the customers want. Customers are the source of sales and profits. Many small businesses are faced with remarkable hardships due
to not developing the right marketing plan (EStartup business blog, 2010). To help these businesses a more appropriate or better marketing plan needs
to be designed. Small business internet marketing services can help businesses develop and thrive in a highly competitive market. For the highest quality
...show more content...
As the economy and social attitudes change, so do buying patterns (EStartup business blog, 2010). Businesses need to identify whether the number of
target customers is growing or shrinking and whether their buying habits will change in the future (EStartup business blog, 2010).
Subway is a franchise business that has been using many strategies of marketing and is now a successful business in Australia. Subway started as a
single outlet in the city of Perth, Australia in 1987. Hard work has seen Subway become one of the most successful fast food franchises in Australia
(Subway–target market, 2007). Its target market is people who like to eat fresh and healthy food, most importantly young Australians who prefer
healthy fast food instead of burgers and fries (Subway–target market, 2007).
Also, Subway's advertising tagline is "Subway – eat fresh". This tagline is the most important part of marketing while advertising the business. This
targets the people who are looking for fresh food and also for people who don't want to eat junk food but want fast food (Subway–target market, 2007).
Another example of business that has been using successful marketing strategies is McDonalds; McDonald's is one of the best known brands
worldwide (McDonald's Corporation, 2008). Successful marketing has been described by McDonalds as identifying customer needs and requirements
and meeting

International Marketing Essay examples
INTERNATIONAL MARKETING
92% of the world's consumers live outside the U.S. Thus, international marketing is very important. When selling to foreign markets, one must realize
that there are major differences between other countries & the U.S. Aside from political and legal differences, there are economic, technological,
social (family, religion, education, health ...) & cultural differences.
Each 1 billion in trade deficit yields a loss of 25,000 jobs. [See text for how international trade is measured and protectionism vs. free trade.]
Gray Goods – Goods imported from unauthorized dealer; problem = no manufacturer's warranty.
Dumping = Sale of export goods at less than...show more content...
2 Adapt Only The Promotion – e.g., in most of the world, bicycles are promoted as transportation; in U.S. as leisure.
3 Adapt Only The Product – e.g., Canadians prefer a more bitter beer; Barbie looks Asian in Japan.
4 Adapt Promotion & Product – e.g., American cereals in Asia = snack food; therefore, need different flavors (e.g., tofu).
5 Backward Invention – Simplify product & use less technology. This makes the product more affordable & usable in certain foreign markets.
Some Ways To Operate In Foreign Markets
1 Exporting – A company sells what it produces to foreign markets via export merchants (e.g., export trading companies) or export agents (e.g., export
management companies) or a firm's own sales branches. [Risk of tariff & devaluation.]
2 Direct Investment & Ownership – Investment in production and or distribution facilities can occur either through a wholly–owned foreign
subsidiary or a joint venture with a foreign company. [Risk of nationalization.]
Joint Ventures– domestic & foreign firms become partners.

Essay on Marketing
Marketing Applications #1
Which environmental forces sociocultural, economic, political, legal, regulatory social ethical, competitive, or technical, might a marketer need to
consider when marketing the following products in the international marketplace and why?
Barbie Dolls
Beer
Financial Services
Televisions
International Marketing involves developing and performing marketing activities across national boundaries. Marketing is the process of creating,
distributing, promoting, and pricing goods, services and ideas to facilitate satisfying exchange relationships with customers and to develop and
maintain favorable relationships with stakeholders in a dynamic environment. Therefore, I believe all the forces sociocultural,...show more content...
Any obstacle that makes it difficult for a business to enter a product into an international market such as slow customs, Government regulations, natural
barriers, bureaucratic inactivity in processing licenses means no productivity for a business.
Socioethics; how a marketer deals with international issues has a considerable impact on the businesses success. A Marketers' standards of conduct and
moral values could make or break a business deal. The marketer should do business and behave ethically. Customer may be concerned about privacy,
truth in pricing and advertizing be concerned how they market their products to children and young adults.
Competitive: In order to be stay on top of international competition a marketer should totally understand why, how, where, and when to do business in
specific international business markets. I believe it is important to know the company's strategic mission, its strengths and its weaknesses too. A
marketer should make the product stand out from the competitor's products by creating competitive pricing and value. The product should also be
difficult to duplicate or substitute and be able to meet differences in the country's tastes and demands. Technology: A marketer

The Concept and Process of Marketing

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