Marketing Essay Example | Topics and Well Written Essays - 2000 words - 7

Marketing - Essay Example Marketing also includes system of management that identifies, anticipates and supplies customers’ requirements efficiently and profitably. Marketing objectives rotates around meeting the needs and wants of customers. It is an organization broad activity that involves a process of keenly analyzing customers’ needs, and getting ways to provide goods and services to meet those needs. Effective marketing does not only provide customers with products and services, but also successfully provides changing benefits to the changing needs and demands to various consumers (Stahlberg, 2009). Elements of Marketing Concepts Marketing concepts introduces new requirements to the product development process. An organization that uses marketing idea to improve it products starts with market research. It tries to look for consumers wants that has not been met in the market. It also link with consumers, to investigate the type of products they would like to be supplied with. This helps the organization to know what customer wants even before moving to the next step of creating new products. For a company to fully incorporate marketing concepts in its operation, it has to fully observe every element that is involved in marketing concepts. These elements are; ethics, consumer psychology and marketing mix. I. Ethics This refers to the psychological effect that marketer’s impact to the consumers. This influence always introduces marketers’ to the field of legal guidelines and ethical challenges. For a successful business, marketers must complement and maintain honesty when dealing with customers. They must avoid actions that can affect consumers demand. II. Consumer Psychology Mostly every facet of marketing is guided by consumer psychology and behavior. Marketers have realized that consumers can be driven by advertisement in making a decision on what to purchase. They have identified that a desire for a service or product can be kindled in a customer who w ould otherwise have no such desire. This has influenced marketers to keenly developed advertisement that have a psychological and emotional impact to the consumer (Sullivan & Adcock, 2002). III. The Marketing Mix This involves all elements of marketing. Some popular components of the marketing mix are; advertising, sales, promotion, public relation and to some degree product development. Characteristics of Marketing Oriented Organization The main purpose of marketing oriented company is to ensure that they keep a close relationship with their customers. This gives the company competitive edge to stay ahead of their competitors. Some of the distinctive features that define marketing oriented organizations include; shared values, organization, stakeholders and ultimately policy. All the decisions made by this business oriented organizations should consider the customers demand first. They should ensure that they share common values of high quality products with the customers. These or ganizations also have few levels in their organization structure. Their policies are clear and unambiguous to understand and apply. They always have a long term strategies that are flexible and participative. These companies always put stakeholders’ expectation first before they begin to make some critical and dynamic organization decisions. Benefits and Cost of Tesco Fresh and Easy Tesco fresh and Easy sell its products at a lower prices compared to other companies. This has been