Marketing Management


Marketing Management

Marketing is the business operations performance that guide the products flow and services flow to the consumer after the producer. It’s the operation that drives the exchange process to fulfill human desires. Promoting starts with defining specific shoppers want and end with the fulfillment of the requirement (Sharma & Sharma, 2017, p. 760). Marketing mix means the techniques of merchandise, distribution, promotion and pricing to generate and implement exchanges, and to meet the target markets. “Business mix-interrelated activities and approaches to meet the needs of customers and the business goals of the organization, a whole”. There are different types of elements of the marketing mix like promotion, product price, and place (Thabit & Raewf, 2018).

Products

The product is described as a physical product to the customer that he is prepared to pay for. It comprises half of the raw goods, such as furniture, clothes and food and qualitative items. The definition of the product is therefore quite broad and includes not only natural goods and services but also the context, individuals, locations, property rights, companies or organizations, knowledge and ideas. Product growth, which starts when a company discovers and starts to introduce a new product concept, the sales revenue of which is zero in the course of its growth, and the investment costs are high (Išoraitė, 2016, pp. 25-37). Thus, the actual benefits-the key reason a consumer buys a product which shows the consumer the basic advantages of the product. The main product-this is the product’s minimum characteristics which require a substantial benefit for the consumer. The product anticipated contains the following product features the customer expects to get out of it and this covers the preferences of the consumer. A product augmented- a product that meets the average user’s standards and can be augmented with new or enhanced existing products.

In every area of the business, marketing research is carried out, it is the systematic and unbiased search and review of relevant information to identify and solve any marketing problems. Marketing analysis is used to evaluate the market in many ways, such as revenue, commodity, customer behavior, distribution, pricing, and distribution.  From my point of view, marketing research provides the help to promote the product in the market. The business owners launch new products in the market with the benefit of market research. Marketing research helps you understand the areas in which your business strategy will work well and the areas you should avoid wasting money  (Sharma & Sharma, 2017, pp. 760-771).

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