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Principles of Marketing Essay

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Below is an essay on "Principles of Marketing" from Anti Essays, your source for research papers, essays, and term paper examples.

June 5, 2015
Principles of Marketing
DQ 4


All marketers need to be aware of the effect of globalization, technology, and deregulation. Rather than try to satisfy everyone, marketers start with market segmentation and develop a market offering that is positioned in the minds of the target market. To satisfy the target market’s needs, wants, and demands, marketers create a
product, one of the 10 types of entities (goods, services, experiences, events, persons,
places, properties, organizations, information, and ideas). Marketers must
search hard for the core need they are trying to satisfy, remembering that their products
will be successful only if they deliver value (the ratio of benefits and costs) to
customers.
Every marketing exchange requires at least two parties—both with something
valued by the other party, both capable of communication and delivery, both free to
accept or reject the offer, and both finding it appropriate or desirable to deal with the
other. One agreement to exchange constitutes a transaction, part of the larger idea of
relationship marketing. Through relationship marketing, organizations aim to build
enduring, mutually satisfying bonds with customers and other key parties to earn and
retain their long-term business. Reaching out to a target market entails communication channels, distribution channels, and selling channels. The supply chain, which
stretches from raw materials to the final products for final buyers, represents a value
delivery system. Marketers can capture more of the supply chain value by acquiring
competitors or expanding upstream or downstream.
In the marketing environment, marketers face brand, industry, form, and
generic competition. The marketing environment can be divided into the task environment (the immediate actors in producing, distributing, and promoting the product
offering) and the broad environment (forces in the demographic, economic, natural,
technological, political-legal, and...

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