QUESTION 1 Marketing is everywhere. Formally or informally, people and organizations engage in a
QUESTION 1 Marketing is everywhere. Formally or informally, people and organizations engage in a vast number of activities that we could call marketing. Good marketing become an increasingly vital ingredient for business success. And marketing profoundly affects our day to-day is embedded in everything we do- from the clothes we wear, to the Web sites we click on, to the ads we seen. a) What is marketing and it’s relation to marketing management? (5 marks b) Why marketing is important? (5 marks) c) How do you define marketing in the 21st century? (15 marks) d) Marketing mix consists of four Ps such as product, price, place and promotion. From your point of view, is it enough to implement these four Ps only to you marketing strategy in order to success? (25 marks)
Expert Answer
Ans. 1a. Marketing are the activities associated with an organization buying and selling a product or services. It includes selling, advertising and delivering of goods to people. Marketing professionals get attention of audience by slogans, celebrity promotions and general media exposure.
Marketing management facilitates the activities and function involved in distribution of goods and services. The application, review of company resources and tracking of activities.
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Ans. 1b. Marketing is important
* Marketing helps in movement and transfer of goods.
* Marketing is helpful in raising and developing the standard of living of public.
* Marketing create employment.
* It increase the income and revenue of organization.
* Marketing act as a basis for making decisions.
Ans 1c.Marketing in 21st century is differnt from the early starting of it. Today marketers have more choices in terms of media opportunities, support and communication. They also have more competition from different sources such as internet as companies reach to worldwide audience from social media and online business.
Ans 1d. In my point of view, 4P’s are important to marketing strategy of an organization but there are some other factors that would also take into consideration to become successful. These are as follows:
* Physical environment: These includes
- Comfort
- Facilities
- Interface
- Smart
* Process: These includes
- Especially relevant to service industry
* People:
- Employees
- Management
- Culture
- Customer service
