Williams College

Marketing principles

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TASK1

This essay will have a brief definition and explanation of the marketing process and the evaluationn of costs and benefits of the marketing orientation.
Marketing is a procedure of planning and conducting ideas and strategies in order to satisfy consumers and organizations.
The marketing process contains: * Situation analysis * 5c analysis. Company, customers, competitors, collaborators, climate. * PEST analysis. For macro-environmental political, economic, societal, and technological factors * SWOT analysis. Strengths, weaknesses, opportunities, and threats-for the internal and external situation. * Marketing strategy

* Once the best opportunity to satisfy unfulfilled customer needs is identified, strategic plan for opportunity can be developed. * Marketing mix decisions * Product development- specifying, and production the first nuits of the Product * Priming décisions * Distribution contacts * Promotional campaign development

* Implementation and control
At this point in the process, the marketing plan has been developed and the product has been launched. Given that few environments are static, the result of the marketing effort should be monitored closely.

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The advanatges and disavantages of marketing orientation are

A company with a marketing orientation has a strategic focus centered on awareness and understanding of the marketing concept. The marketing concept indicates that building long-term customer relationships requires putting the needs and wants of the customer first. Customer needs should drive the research and development process. This is opposite the product orientation, which makes the product the first point of emphasis.
Marke orientation