Understand Marketing Concepts

Marketing has historically been defined by the four foundational elements of place or distribution, promotion, pricing and product. These four aspects of marketing have served the definition of this strategic area of business well over the last several decades marketing has existed as a discipline in business. Yet over time the 4Ps of marketing have given way to a more dynamic approach to creating and sustaining relationships with customers. The onslaught and en masse adoption of social media and social networks have led to an increasingly vocal and assertive customer base across both business-to-business and business-to-consumer marketplaces (Bernoff, Li, 2008). The 4 Ps are not agile and flexible enough to manage the many differences in customer relationships, the development of loyalty, and the mercurial change in how customers choose to learn and buy that has been accelerated by social networks. The greatest challenge for marketers today is to move beyond the relatively fixed and rigid of marketing from the past and embrace the future. The intent of this analysis is to compare two definitions of marketing from peer-reviewed research in addition to providing a personal definition. The critically important aspect of marketing from an organizational success standpoint is discussed as well, with three separate examples provided to further provide insight and illustration of how critical marketing is to

SIMULATION DESCRIPTION: Holden Evan, Inc., has long been the premium dog food market leader with its flagship Grand Champion brand. The brand targets breeders, trainers, and owners of purebred dogs willing to pay higher prices for superior nutritional and health benefits. During an economic downturn, the Grand Champion brand suffered a sharp and prolonged decline in sales. The Marketing Manager must re-evaluate the brand's marketing strategy and marketing management orientation to determine if they need revision.

It would only make sense that the company is paying attention to what their customers need, want, and think. If the company is up for it, they will create a loyal customer and a good sector in the marketplace in regards to their products.

Research and update the case information as much as possible with current research, and then conduct a comprehensive SWOT analysis for USA Today.

The traditional view of marketing is that the firm makes something and then sells it. A) Will not work in economies where people face abundant choice. B) New

Different authors and schools of thought have outlined a number of concepts of marketing. There are five competing concepts under which organizations conduct marketing activities: production concept, product concept, selling concept, marketing concept, and societal marketing concept. A detailed description of the different concepts is described below according to Kotler (2002).

The marketing segmentation concept allows a company to focus on a specific group of customers that it is best prepared and suited to satisfy. Rather than trying to be all things to all people, selecting a target market enables a company to tailor its offerings to more specific customer needs and preferences (Schewe & Hiam, 1998, p. 200). When a company focuses its efforts and capital (both tangible and intangible) on a more narrowly defined set of needs, it is more likely that the customers will get the product they desire. Companies that use the marketing segmentation concept typically have a more intimate knowledge of the customers they target, and customers usually relate better with companies that understand their interests. As such a relationship is built.

In production concept marketers believe that customers will favor products that are available and in expensive, while Product concept makes marketers believe that products with most quality, features and performance will be favored by the customers. Under production concept, product gets cheap but under product concept, product usually gets expensive.

As the article mentioned Louise Vuitton (LV) is one of the most famous and recognizable brands in the world. Louis Vuitton opened up his first store in 1854 in Paris and sold handmade excellent value trunks and luggage (Kotler & Keller, 2012). However, the label is more famous for its LV monogram, which is presented on all the recognizable leather items, purses, shoes, watches, jewelries, sunglasses and accessories. Louis Vuitton is one of the highest ranked luxury brands in the world. Today Louis Vuitton “holds a brand value of $26 billion according to Forbes and is ranked the 17th most powerful brand according to Interbrand” (Kotler & Keller, 2012). However, the question is “How does an exclusive brand such as LV grow and stay fresh while retaining its cachet?” In order to answer to this question we need to understand the marketing strategies of Louis Vuitton that makes it an outstanding brand among top luxury brands.

In order to make decisions, current, accurate, and timely information is required in order to formulate a plan and take action. This concept holds true whether you are an individual seeking to make a purchase, a company developing a product, or an organization seeking to establish a partnership with an outside entity that will promote growth and generate increased profits. For companies operating in markets that are constantly evolving and where competition is fierce; having a solid plan can be the primary factor behind its success. Therefore, companies rely on the knowledge and experience of key personnel to not only develop a plan, but present it in a compelling way that will result in key personnel receiving the

However, most business strategies are inadequate for today 's markets. They are developed without sufficient context, they are developed inside out rather than outside in. They promote evolution rather than revolution, avoiding hard decisions, seeking to do what is currently done, even if it is increasingly out of synch with the market. They lack the stretch to see the future

Evolution is defined as a process of continuous change from a lower, simpler, or worse to a higher, more complex, or better state (http://www.merriam-webster.com/dictionary/evolution).

When the marketing plan implementation does not successful of marketing plan which practitioners expected which, they have to used a range of structural and behavioural intervention strategies to improve their marketing performance, such as, According to Cravens and Piercy, 2006 have been mention that “exiting from a product/service market, new product planning, changing the targeting market strategy, adjusting marketing strategy, pr improving efficiency”. However those two interventions strategy can be solved the problem that to identify how their performance does not meet planned expectation marketing. Moreover there are many implementation problems such as customer complaint, customer service problem, customer-suppliers

Bentley. The product idea is the oldest in the industry. Consumers prefer goods that are extensively available/low-priced concentrating on high assembly efficiency, low cost and mass circulation.

3. Till 1950-56 there was no clear exim policy and no _________ restrictions of any kind