Introduction to Marketing
What is marketing?
Marketing is the function that connects businesses to their target audiences’ needs. It is how a business presents and distributes their product to their audience. For example, a business can market their product by advertising it to the public. This can be seen in many forms of media; such as: on television, via web, posters or on billboards.
Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]
The concepts of marketing
The production concept is when businesses are more focused on making profit from their sales; the quality isn’t necessarily important as the company’s main concern is making sales. For instance, supermarkets such as Sainsbury’s and Tesco distribute their own products to the public. The production of products is also kept at a low cost.
The product concept is when businesses focuses more on the quality of the product rather than how many of them are being sold. The business is more concerned with the high standards of the product set by customers and is prioritised. For example, smartphones have become more popular within society because of their many features.
The selling concept is when businesses are concerned with promoting a product even further to increase sales. For example, Coca-Cola advertises the same products over and over again; they introduced names to target people with that certain name.
The marketing concept is when a business allows their customers to decide on the features of their product or service, before it is created. A business would use market research and use research & development to discover the customers’ needs and wants for a product/service.
Aims and objectives of two contrasting businesses
Private sector business: Apple Inc.
Apple’s objectives are to continuously sell the same products that are of high standards and quality.
Market leadership in Apple
Market leadership is when a business has the most customers/users due to their sales or service. Steve Jobs suggested these techniques to assist in becoming a market leader Be in possession of and have control over the relevant technology Take in and implement better technologies immediately as soon as they have availability, regardless of whether or not there are organisations using them beforehand Create new technologies/products before anyone else and make it an industry standard
Brand awareness in Apple
Apple raises brand awareness by creating adverts and allowing their stocks to be released online. This can be effective because potential customers will know whether not to purchase a product based on the stocks.
Perceptions of customers in Apple
Customers of Apple are aware of the product by seeing advertisement and by live streaming press conferences that are held by Apple. The effectiveness of live press conferences is that the potential customers will know what features the product has.
Public sector business: National Health Service (NHS)
Their aims are to aid people who are applicable to use their service. They are non-profit and are Governmental, which means that the Government funds the NHS by using a portion tax-payers’ money.
Market leadership in the NHS
The National Health Service is the only health service that is free in the country. This makes it the market leader.
Awareness in the NHS
One way in which the NHS raises awareness is by endorsements from the news or magazines. This can be effective because the news is something the majority of the public intakes.
Perceptions of users in the NHS
Users of the NHS become aware of this industry via real-life happenings. Some of these perceptions can be negative; as recently, a celebrity received a free surgery which wasn’t life threatening in any way. It wasted tax-payers’ money and the majority of the nation was unimpressed by this.