Marketing Assignment 1.

1. 

What is marketing? 

Marketing is the process of interesting potential customers in your products and services. It is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably.

What is the production concept of marketing? 

Its a concept which states that customers would acquire products which are cheaper or didn't fit their requirements perfectly all because it was more inexpensive. Producers are able to mass produce event though they have to supply more individualised goods but it doesn't impact the final price.

Explain the sales concept of marketing: 

The sales concept is the idea that a 'sales person' could sell everything to customers. Where customers can be encouraged to purchase a product, they then build extended relationships with them so they return for future purchases. The sales concept advertises a product with certain qualities which a consumer may desire or feel their needs can benefit from this product on offer.

What are the "four Ps" of the marketing mix according to McCarthy? 

Product- It should fulfil the requirements of the target customer and should meet customers expectations

Place- The product must be obtainable from where the manufacturers consumers find it easiest to acquire e.g. order online, home delivery

Promotion- A manufacturers message must be delivered to customers using communication tools such as sales promotion or personalised selling. It should be delivered in a way that the target group would be engaged enough hear it.

Price- The product must always be presented as great value for money. So consumers will willingly pay more if a product fulfils their needs

Explain the term 'marketing orientation' 

Marketing is made up of all functions related to pricing, planning, promoting and distributing a service or goods. It is buyer-orientated whereas sales is concentrates on the sellers needs.

2. Describe the difference between sales and marketing. 

Sales focuses on the merchandise and the different USP's it has to be a popular product. Whereas marketing focuses on consumer requirements, you can understand their needs and qualities they desire via market research, feedback from consumers and taking the time to communicate to keep customer satisfaction and has a good reflection on the brand.

With sales the main focus is on volume of sales and a short duration runs making sure that products are sold with high demand. Whereas marketing is more concerned with profit. The planning is focused on long duration runs so that there is a constant eye on future expansion and different ways to entice the customer in the future. 

3. 'Marketing is considered to be the most important activity of the present- day business' Discuss this. 

Marketing is beneficial to the consumer as well as benefiting the economy and society. The concept of marketing is not just for goods but services too, it holds significance for a business establishment as it helps to sell products, generate revenue and determine the establishments success. It provides consumers with choices, delivering easy product delivery as well as quality of service ensuring that the customer is always key.

It's also seen as the most important activity of the present day as it adds to the economic advancement of a country and can increase employment opportunities, opening new career paths for a lot of individuals to learn new skills. It also reflects the country's development though the diversity and quantity of goods obtainable and consumed by the people of a country, indicating the poverty level or prosperity of a country. 

It has been found that customers tend to spend more when they get what they want. For example looking after clients will pay off in business terms. It also means you can build an ongoing relationship with the customer so that you are at an advantage of always receiving business. Marketing is essential to build the rapport with customers, understanding their needs so that you can always build on what they want and have an advantage against other business opposition.