Marketing PrinciplesAssignment 1
Following American Psychological Association Guidelines
Soakai Vea, Department of Business, Tupou Tertiary Institute.
This research was kindly supported by funding from Lecturer Fr. Haukinima & Business Environment. Correspondence according of this article should be addressed to Soakai Vea, Department of Business, Tupou Tertiary Institution, Fasi moe Afi, Tongatapu.
Contact: [email protected]
Table of Contents
TOC o “1-3” h z u Abstract PAGEREF _Toc525149608 h 3Marketing Principles PAGEREF _Toc525149609 h 4Marketing and Its Importance. PAGEREF _Toc525149610 h 4Changing Environmental on Marketing PAGEREF _Toc525149611 h 5Ethical Issues. PAGEREF _Toc525149612 h 8References PAGEREF _Toc525149613 h 13
AbstractThis paper explores generosity on results on research on Importance of Marketing in the modern consumer-buying world and changing environmental factors influencing buying add-ons to where marketers search for important information about the potential buyers of their products. This paper, however, vary in diverse aspects of the condition of marketing in relation to role of ethics and ethical behavior in communications and decision making of marketing. This paper examines on how Marketing is today and diverse changing of broad external environment factors and ethical issues in relation to target market or target audience.
Keywords: Marketing (M), Ethical-Issues (E-I)
Marketing PrinciplesThis study case explains on various facets of Marketing and its Importance, focusing on Changing Environmental Influencing on the Marketing of Product with concern of Ethical Issues and marketing research undertaken in order to define who are the target markets and audience likely to buy the product.
Marketing and Its Importance.I strongly believe that marketing today is very important financially and economically in progressing a business which marketing today has been a capacity-driven mind for customers making the environment surrounded by marketing whether we recognize it or not marketing has one goal is to capture the interest of individuals/customers and values their brands and comparison of relation of mind. In favor of individuals’ beliefs and dialogue, the engagement must be alignment in relation to the customers’ values and beliefs. In today’s aspects of business environmental, it is normally approved that a strong customer-driven marketing strategy can prove benefits and edging over its competitors. Designing this would not prove to be forthright but with diverse aspects and insights concerning of this reflection specifically on the 4 P’s framework we talked about in class with Mr. Haukinima would describe a lot and extend the understanding and knowledge of marketing today. The framework- Product, Pricing, Placing and Promotion are mainly known for creating of plan marketing with one aim is to fulfil purpose of marketing strategy by setting the right product or service in the right place, at a veracious price, and at the right promotion time. These aspects of framework are important in terms of marketing by undervaluing one would face the consequences of unsuccessful. We can recognize when an organization succeeds or fail in terms of thy diverse amount how the organization delivered to its customers. By building a relationship with customers’ values I believe that it could be the worst or critical way to measure. In fact, there is not a clear path or touching point to communicate or links everything that you’re doing marketing about but it must be developed over time and time to create a better relationships and share of mind. Marketing responsibility for customers newly encounter with product or creativity, it is first and up to the marketing to direct the duty and being responsible for the customers’ values and beliefs. Marketing must direct and ensure that every member of the enterprises can emerge in the beliefs of the company and can communicate that beliefs correctly and appropriately to the customers’, and can be able to understand the out-going of everything from industries, to companies, to customers’ approach, and strongly cares about the situations of customers more than what’s happening internally in the company in terms that it is not about the company it is about customers’. More customers’ chose to buy from their certain beliefs forming why they do not buy other product or use their service depending on these criterial ideas, but for businesses had no choice but to focus and concentrate on the values of their target audience to fulfil them.
Changing Environmental on Marketing 1Winfield, this product cigarette makes human being feel good about themselves but not good for the health in terms of smoking, inheriting toxin into human body system which every person knows that but feels too good to take it anyways with the target audience are the smokers or smoking people.
In Tonga’s custody marketers keep close track to demographic slope and trends of developments in terms of the population size, diversity and density, the location, age and gender, educational characteristics, occupation, race or ethnicity. For instance, rise of population here in Tonga with the changing in family structure and age structure by rising single parent families and values, declining in household size, increases figures of working women, therefore the population keeps on growing and growing more people working with one aim to maximize their revenues in terms of education characteristics, occupation, other relevant demographic statics, and so on with each race or ethnicity brought up by different races or ethnic which may influence change or affection in the future. As smoking increases over time could affect the marketing of Winfield hence the purpose of increasing in stock-cycle of Winfield over time, it might influence changes over the future in 6 to 12 month concerning about Population Demographics.
By getting the product to the right people, at the right place, and at the right time would influence the sale of cigarettes in the market. No matter how high the price is in the market, competitors would still supply more but with diverse ingredients to fulfil or satisfied the people smoking. companies make their product a bit stronger in nicotine and some prefer light even though that it is not good for your health or wellbeing. The box itself labelled that “Smoking Can Harm Yourself”. As market competition competes on and on this could affect the sales of Winfield and the marketing of this product in which now-a-days the Tongan government restrict purchasing cigarettes on one-on-one basis but allows buying a box in fact that the price could be unexpected and not only that the Tonga government strictly restrict purchasing of cigarettes under 18 years of age with somehow founded not following this would be find $500 TOP at the exact time. Concerning of market competition, the marketing shows low expectation and I would say to sales as well because now-a-days some countries start using Vapor just because of too excessive of price.
Our Technological Environment possibly the most dramatic wave that shapes our future, it involves powers that create innovative, new product, new technologies and different market opportunities. As new technologies are introducing and innovating new product and new findings this would decline or affect the business especially sales and marketing of Winfield. Constructing the new structure of technology could take time but on timeliness sales and marketing of Winfield could still be out and going in terms the business knows the advantages of it during the time of constructing of the new product or technology as newly transform product could take time to lower its cost and price because it is kind of very fresh product into the market. Marketing of the new product could be up and coming because it has lots of feature and quality that would get the interest of customers’ in terms that it is a very new extraordinary product into the market. For instance, the introducing of Vapor now lives the customers’ interest as it is cheaper and got great ingredients in it which is non-chemically. Concerning of Technology this would affect the cigarettes businesses not only Winfield but to its competitors’ in the future environment.
The Economic condition consists factors affecting consumers purchasing power and spending figures in changes of Income and Income Distribution as well to Spending patterns and vice versa. By sales and marketing of Winfield cigarettes may affect and change in terms of the economic condition. Economically distribution of income determines the sales and marketing of the product, when it gets low in the economic it decreases the purchasing and marketing of Winfield and as well to other cigarettes companies (Marlboro, Long-beach, Ball Mall, Tapaka-Tonga) …etc. when it gets high economically it defines that it is an increase in price and also the maximization of revenues by consumers which they increase their spending patterns and vice versa. For instance, sales and marketing of Winfield in the Tongan economy are sure might to be change influence by high expensive price of cigarettes in the Kingdom which consumers prefer purchasing Tapaka-Tonga the Kingdoms natural tobacco because of the economic conditions of inflation and interest rate.
This forces are customs in terms of lifestyle and identities that typify a community or society. With this are specifically concern with cultural facets including language, education, beliefs/religion, technology, law, politics, values, behaviours in a social organization. The standard of education determines the interests of consumers. In education, a diverse and vice versa of potential customers do get graduate tertiary education, so business rather use details and clarification at the same time doing advertising and promoting the product. The language factor that labels the ingredients and adverts of the product, considering use different languages for like using English and Tongan on brochures for advertising. For instance, a culture is the way a community organizes itself in terms of status system and social groups in relation to sales and marketing of Winfield that quite have to be change in the next 6 or 12 months as the society itself attach to the culture which however the society would found themselves attaching to Tapaka-Tonga in terms of the Kingdoms tobacco culture.
Ethical Issues. Responsibilities of marketers is to prepare and plan the project brought forth by managing all publication of marketing material in order to further maximize the promotion of brand. To be responsible is how a business act towards the customers’ or people within a society or environment concerning to whom and how to conduct business to. The main role of a marketer is to provide various communication and packages on the business decision making to which society or community they will interact. In this it proves that the customers have the power and right to elect the business that will fail and succeed. For instance, the BSP bank staffs (marketers) visited Tupou Tertiary Institute for promoting creating a bank account ATM card freely which marketers involves in gain the interest of customers and as you pass by hearing a person advertising their product of Taro leaves that a marketer in which he/she doing the promotion of the product.
Honesty ; Fairness:
The honesty and fairness influence the marketing decision making. This mainly concern with the marketing of product that it is trustworthy and truthfully concerning and about the product in which that it is relevant and links to the promoter on the information for marketing of the product just as the qualities or ingredients and values of what the customers wants to buy which would fulfil their need and wants just of having a fair idea of target audience with what they value and willingness to buy. For instance, a dairy milk product labels the ingredients of the product proves that the ingredients are related to what in the label, the ingredients must be met with what the customers value by showing honesty and fairness of the product ingredients. Another example, diverse product of dairy milk chocolate bar like chocolate with nuts, the product should be relevant to what the product labelled.
Right ; Duties of Parties in Marketing Exchange Process:
Marketing provides more confidentiality to customers and to the society and community in terms both parties have the right and duties in the process of marketing exchange in order for the safety and care of each parties. Concerning about parties if something happens in the marketing exchange each parties from either side have the right or duties to the issue brought-forth which determines the decision between either side, isn’t marketing provides safety and care to its customers in terms of their values and beliefs with trying to satisfy their needs and wants with the values and beliefs. If theirs circumstances that each parties face, it’s up to the parties to agree to what the outcomes might be which again determines the marketing decision making. For instance, goods (mints) return from customers can be acceptable and accept refund in fact that each parties have the right and duties of the exchange. Furthermore, assisting with comments from parties in the marketing exchange process in terms of the product (sandwich) by offering feedbacks from customers to the business means both parties have the right and duties of the marketing exchange process.
Organizational relationships function is to outlook to the internal and external environment. Organizations are freshly attached to and recognize the relationship occur from stockholders to workers and the customers with these they provide information and reason for the organization to exist and further growing. The exist concern of the relationship between the 3 factors, as any organization do not recognize the customers’ preference, beliefs and values in the market but building a relationship with the employees which they are well prepared in front-liners of human resources to lend a hand in what the customers values and willing to buy if there is no links or touching point on between these 3 factors and other organizations would not be success and grow. For instance, linking organization that needs sensitive to department like Finance, HR, Technical and Customer service and legal departments these relationships could determines the decision making of marketing in the organization. In addition, retail shop owner loaned from the ANZ bank and needs sets of regulation but in order for the sole trader to accept his/her loan in takes process in a hierarchy of managers before your loan confirms.
Step one: Recognition of needs and wants.
You cannot make a purchase in terms you recognize what you need and want. A need defines as essential things that must be obtain in order to survive. For example, having air, water and shelter. A want is things are not essential for survive but it could be good to have. For example, thirsty for a cigarette in fact you don’t need it but you might found this experience on internet and advertising from outside influence. So if we do not solve this, the buying process is likely to stop at this point.
Step two: Identification ; Evaluation of Alternatives
After determining needs and wants, you would start to search and collect, gather information about the product alternatives and brands that meet them. This information can be found radio, print, television, posters, and newspaper. Once we have recognized all reasonable alternatives, we need to evaluate each one of them before making our buying decision but we must consist of the price, convenience, prestige and taste. The use of internet to gather researching relevant product information is a huge role in this phase.
Step three: Making the Purchase Decision
This part is where you purchase your product. Your purchasing decision may be influenced by the manner of your purchase and receiving your product. After doing the searching and evaluating between available alternatives, we also need to take into account whether to decide at some point to buy or not to buy the product. If we continue with buying the Winfield product, we must provide details concerning about the brand, the price to pay, which store and which particular suppliers to buy from including option of colours and models and so on. You made your purchase and have had some time with the product. For example, deciding purchasing your product (Winfield) on a particular store in terms the product have the exact finance but just in terms of immediately available and quicker delivery.
Step four: Make Post-purchase behaviour
At this point, we go through in the buying process steps before we make the purchase, this measures our feelings and emotions after the purchase with this significantly influence marketers the likelihood of coming back and purchase another one of the product (Winfield) and also how we express to others about the product. Most buyers consist of post-purchase anxieties somehow known as “cognitive dissonance” P. Rix (2009) will evaluate your decision whether the evaluation is conscious or unconscious. Your evaluation could play a huge task in your loyalty to the product and as well to the company that produced it.
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