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The main aim of marketing is to satisfy customers with quality products. Marketing is usually misunderstood as selling of products. But Selling is just a small part of marketing cycle.
Selling involves attracting customers to buy the products, whereas Marketing includes research, investigation of present market, creation of goods, marketing strategy, customers attraction, building reputation and fulfilling demand of customers. Marketing is mainly a long term business plan that requires proper ideas for enforcement. Hence, the main goal of marketing is to research or sense the unfulfilled demand of customers and then develop a new, reliable, quality and satisfactory solutions.
So, Marketing starts before the launch of product and continues even after the product is distributed in the targeted market. Marketing plan is important for any firm, whether small or big.
It is though a time-consuming task that requires creative, trained and hard-working manpower but a good marketing plan helps in success of business organization. Some of the advantages of marketing plan are listed below:. Formulating Marketing plan sets-up vision for development of company in forthcoming days. Expenses budget is a budget planning made for the expenses that is likely to take place in a business.
Likewise, Sale forecast is the estimation of sales that a company plan to make in future, most probably for a fiscal year. This is done in order to make a beneficial decision for company progress. SWOT analysis is the study conducted for identification of strength, flaw, prospect and threats prevalent within or outside the organization. Further, Competitive analysis is about the position that a firm establishes in the targeted market with respect to its competitors.
Finally, competitive analysis is about how well you are able to develop a position in the competitive market. It includes study on target market, customers, competitors, your product value and many more.
Marketing mix is the ideas or strategies that is used by company for Promotion of their product. The value that is assigned to the product is termed as price. The price of product includes all the expenses right from the production of product to its distribution. Product refers to the manufactured item.
Hence, a quality product can occupy a good market position. Choosing correct places for promotion of a product is also one of the essential strategy for marketing. Advertising the product and choosing a suitable platform in order to tell consumers about the benefit of using the product comes under the promotional strategy of marketing.
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The college-goers who seek marketing homework help from us can ask for assistance with any title related to this discipline. Some of the previously covered topics are mentioned below: Marketing research. High quality assignment help service has been provided by our tutors to several thousand students, encompassing millions of questions and problem statements in all the subjects in high school and college.