Marketing Starts Long Before a Product Is Produced. Explain

The American Marketing Association defines marketing as "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 stakeholders". (2005) Simply put, marketing is the process by which businesses assess the needs and desires of consumers in order to provide products and/or services to meet those needs in the most efficient and cost effective manner. Truly effective marketers do market research in an effort to understand their target market and create marketing strategies based on the characterization of those in the target area.

Marketing is about understanding and acknowledging the needs of customers and leaving an impact on developing the absolute best product to meet their needs by the business. Marketing comes into account for any business and how they can develop to be the best and deliver the best customer satisfaction.

They have a very clear strategy for the pursuit of their goal and vision. The market segmentation as well as the identification of target markets is the important element of each marketing strategy at which they are the basis for determining any particular of the marketing mix, which is product, pricing, place and promotion. Market segmentation reveals the company's market segment opportunities. The company has to evaluate the various segments and decide how many and which segments it can serve the best. In evaluating different market segments, a company must consider of three factors, that is, segment size and growth, segment structural attractiveness and also company’s objectives and resources. (Armstrong & Kotler, 2005)

• Market Segmenting- is known for targeting potential customers that are the best matches for services and products. This type of tool is important to businesses because it involves finding the different needs that exist with consumers. For example, some consumers prefer a fast paced environment while others are concerned with the space.

As every customer has unique needs and expectations towards certain products, the ultimate goal of market segmentation is to organize customers into groups which allows targeting of customers with similar needs of and response to the products. The key is to minimize differentiation within each segment

Marketing development is the act of increasing the total market served by a company by finding new customers and markets, or providing new products to existing customers and markets. An example of this for Nike is their sports clothes and trainers are always developing and coming out with new ideas.

Marketing is a process by which a product or service is introduced and promoted to potential customers. One’s business may offer the best products or services in the industry, but none of the potential customers would know about it. For a business to succeed, the product or service it provides must be known to potential buyers. Marketing is the core for any business to succeed.

“Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organisational objectives” (AMA,1985)

Marketing is the process by which an individual or a group obtain that identifies and meet the needs of the customers whilst making a profit.

Market segmentation use to divide a large market into small markets that can develop company’s product and service to a specific group of consumer, including geographical, demographical, psychographical and behavioral. Then, have to go through market targeting and market positioning which are consists of a set of buyer who share common needs that the company decides to serve and a place that product occupies in consumer’s mind relative to competing products.

Customers anticipates a lot from the new product especially if the brand name behind the product already produces a great product. It may possibly happen that products are not what the customers were expecting.

Customers in groups sharing particular wants or needs are known as market segmentation. Marketing segmentation divides the whole market of the company into segments which are targeted, using developed methods and on products so as to make basis for the company’s product in market.

Set very clear, measurable objectives for the launch that require collaboration to succeed. The most important factor in ensuring a successful new product introduction is defining a measurable realistic series of objectives that give each department or functional area of the company ownership of the process. Goals and objectives for the launch must not only be challenging yet achievable from an organizational standpoint, they must also be designed to provide each department with a clear sense of accountability and ownership (Bentley, 6). This aspect of change management as it relates to a new product introduction is crucial for its success.

The American Marketing Association defines marketing as - It is the activity includes set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large which adds to profits ( kotler & keller, 2012). Marketing Management means the analysis, planning, implementation and control of plans or programs designed to create, build and maintain beneficial exchange with target consumers for the purpose of achieving organisational objectives. The objectives of marketing management are to create demand through different means by providing information about the utility of product, customer satisfaction, to increase market share and profit, to create goodwill and public image. Today’s marketers are focusing to maintain reputation in the eyes of their customers. The term of marketing changes as the marketing environment changes. Now, marketing functions are not limited. Customers are smarter and more

Customers from various existing markets differ from what they needs and wants, behaviors, and locations. With market segmentation, organizations are able to divide the large number of market to smaller and specified segments, thus it can be approached more effective and efficient with the targeted products that are matched to their particular demands (Kotler, 2010).