Business Btec unit 3 p1

Market development is when a company is using an existing product but is marketing it in a new market such as other countries. This increases popularity for the service and the company.

Concepts of marketing- marketing= a social and managerial process by which individual and groups obtain what they need and want through creating and exchanging products and value with others.

Marketing – The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.

To develop such strategy mix of strategic options will be applied including Integration to deal with competition and Intensive + Diversification strategies for product and market development.

Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]

technology without moving away from the company's core values. Whilst there are many other competitors in the

What is marketing? Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy both individual and organizational goals. Marketing also include being able to get the goods from the producer to the consumer. The producer is responsible for the design and manufacture of goods. Marketing also includes market research and product development, design, and testing. Marketing concentrates primarily on the buyers, or consumers and determining their needs and desires. Companies then need to stress the availability of products and the important product features. You then need to develop strategies to persuade them to buy and keep their satisfaction with the product. Marketing management includes planning,

The Marketing Concept The marketing concept has evolved over the last years, marketing reflects to a key approach to doing business. An organisations objective is to make profit, to do this they have to consider the marketing concept, in order to satisfy customers. For an organisation to be successful should divert its attention away from particular products and towards the interest of the customers. Customers changing their needs and wants influence an organisations strategies and plans. Meeting customer’s needs is the main key in marketing.

American Management Association: Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organisational goals.

From a managerial point of view, marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake holders. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through

Market development: Market development strategy for the P&G Company begin to reflect market trends, especially those that are settled by competitors. Innovation is required in this context, to continue to provide an upgraded version of the P&G Company's leading products. As it gets to turn the attention of the customer if the same brand of product works for a long time.

Marketing is a process of identifying and satisfying the consumer needs and wants by creating or exchanging product.

Another definition of marketing is the "selling of products or services: the business activity of presenting products or services in such a way as to

This first strategy calls for the creation of more sales without changing the original product, which can achieved through the four P’s of marketing. The next strategy, market development, allows the supplier to find new markets for their current products by using demographic markets to see where the greatest revenue will be based on the target group you are selling to (seniors, teens, etc.). Product development is the next strategy which focuses on new products the modification of current products. This strategy is rather important as without evolving products to meet the ever changing needs of current and potential companies can see a loss in sales and would limit their ability to be competitive in the market. The final strategy is diversification. This strategy calls for companies to attain current or new businesses allowing them to “diversify” their offerings and break into new markets.

Definition of Marketing – Marketing can be defined as the process of converting wants into needs. In other words it can be defined as the process of selling products or services to the customers by an organisation.