Abstract
The concept of market is very broad. There ar many a(prenominal) things to consider when effectively introducing a product into the market. Most great is the marketing mix made up of the four P-s, which ar the controllable variables in a marketing system.
The Marketing Concept
There are many definitions of marketing. The better definitions are focused upon customer penchant and satisfaction of customer ask. The marketing concept is the philosophy that firms should crush the needs of their customers and then make decisions to forgather those needs, better than the competition. The marketing concept relies upon marketing research to define market segments, their size, and their needs. To satisfy those needs, the marketing team must make decisions about the controllable parameters of the marketing mix.
Under the marketing concept, a firm must take note a way to discover unfulfilled customer needs and bring to market products that satisfy those needs. The process of doing so cigarette be established in a series of travel. These steps involve: analysis of the situation to identify opportunities, the marketing strategy that is formulated, the decisions regarding the marketing mix, and the final implementation of the plan.
Situation analysis serves as the innovation for identifying opportunities to satisfy unfulfilled customer needs.
In addition to the acknowledgement of these needs, a firm must understand its own capabilities and the milieu in which it is operating. This analysis can be viewed in toll of both the external and the internal environments; the external being the macro-environmental factors that may affect many firms, and the internal being the micro-environmental factors that are most related to a firms specific situation. The situation analysis should include past, present, and future aspects; it should include a history outlining how the situation reached its rate of flow state, as well as a forecast of...
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