International marketing strategy
Marketing deals with creation and delivery of the standard of living. Basically marketing deals with the following three major activities. a. finding out what the consumers want/need b. Planning and developing a product or service that will satisfy those want. c. Determining the best way to price, promote and distribute that product or service.
Unlike at the beginning of the semester where I regarded marketing as a simple function of selling goods to consumer and which demand less attention compared to other function in the organization, I have come to realize that the achievement of organization goals depends on determining the needs and want of the market (consumers) and determining the desired satisfaction more effectively and efficiently than competitors do. It involves working backward to ensure that the consumer’s needs are satisfied by developing a product which tailor is made to satisfy the need at a profit to the organization.
Marketing is critical to the success of every organization. Current successful company have one thing in common i. e. they are strongly consumer focused and heavily committed to marketing in contrast selling only occurs after a product has 2 been produced but marketing start long before a company produces product (kotler, 2003).
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a. to attract new customer by promising the superior values b. To keep current consumers. To me marketing means managing market to bring about exchange and relationship for the purposes of creating value and satisfying consumer need and wants. It is based on four pillars. 1. identification of need and want 2. customer satisfaction 3. Integrated marketing i. e. consists of the 4Ps namely product, price, place and promotion. 4. profitability of the firm (Luecke, 2006) Importance of marketing
Many people feel that marketing is just a normal function of selling products produced by the firm or acquired for resale. But marketing is more than just a sale of product and services. It comprises several functions such as product design, pricing, promotion, distribution and creating of brand image. Advertising not only educate consumer about a product but also bring out the good point of the product. Without marketing goods made may not reach the ultimate consumer since they hardly know 3 about it while at the same time they may not find the price worth the value of good (porter, 1985).
Marketing also help to create a good brand image and to maintain it too and this help in getting good reputation and building large customer group. Marketing also help a firm to capture the market from competitors which is not an easy task and requires marketers to be very tactful and employ creativity. Where a firm adopt and implement a good marketing strategy they not only maintain current business but also expand the business and profit of the firm (Hollensen, 2001). Other role of marketing in society includes; – people are able to consume what they would not have consumed i. e.
it has brought accessibility of product due to cross border trade and global marketing – Through marketing goods and services find their way into various market thereby increasing sales in every region. – Raises the standard of living for most people i. e. marketing has brought the various inter phase together e. g. shopping in the internet and entertainment through the internet (Doole & Lowe, 2004). – Creation of employment – the media industry derives much of their income from advertisement. Besides employing people directly marketing provide employment through other supporting services.
– Preservation of environment i. e. societal marketing. 4 Factors limiting understanding of marketing 1. defining marketing Many people still confuse marketing with the various elements such as public relation, media planning or advertisement. Most people still believe that marketing is useless and fancy field which eat up the company’s budget and give little returns. Other view marketing as an artistic field where creativity is all that is needed in developing a memorable advert. 2. confusing marketing with communication
Many people think that the role of marketers is creating advertisement, slogans and logos. In real sense marketing involve more that just advertising and involves developing price, product, distribution and promotion strategy and ensuring the implementation. They forget that advertisement is one of the elements in promotion. 3. under or over estimating the role of marketer Marketers may be seen as a must-have in every organization with indefinite role such as marketing, public relation, advertising, customer care but may end up putting little effort in everything.
On the other hand they may be seen as very powerful creature hence eclipsing every one else in the organization (Kotler & Armstrong, 2005). 4. marketing for the sake of it Most firms particular small business undertake marketing activities because every one else is doing it so the assumption that it should be done by every one. Therefore they embark on marketing without having a clear marketing objective leading to waste of resources. 5 Reference: Doole & Lowe, R. (2004). International marketing strategy – analysis, development and
implementation. London, Thomson Learning. Hollensen, S. (2001). Global Marketing: A market-responsive approach. Gosport Aschford Colour Press. Kotler, P. (2003). Marketing insights from A to Z 80 concepts every manager needs to know. Hoboken, N. J. Kotler, P. & Armstrong, G. (2005). Principles of Marketing – European Edition. USA. Luecke, R. (2006). Harvard business essentials: marketer’s toolkit: the 10 strategies you need to succeed. Boston, Mass, Harvard Business School Press Porter, M. E. , (1985), Competitive advantage. New York, Free Press.