Key Elements of Marketing Mix for Promoting - myassignmenthelp.com

Question: Write about theKey Elements of Marketing Mixfor Promoting and Selling. Answer: Overview Marketing is the process to raise the interest of customers or clients towards services or products. It involves researching, monitoring, promoting and selling of the products and services. Marketers come under those professionals who are liable to carry out these activities. As per Kolter and Armstrong, (2008), marketers are responsible to build the customer value and relationship by following certain steps. In the first step, there is need to marketer to understand the market place along with the needs of customer. It has been stated by Sharp that marketers should research in the form of survey or observation to identify the opportunity in the market so that business can dictate which kind of market presenting to provide to the market and which kind of adaption will be required to remain in the competition. It is the process which is considered as the evidence based marketing. It is the market where marketers make decision on the basis of relevancy about the selling and purchase be have (Wirtz, Tuzovic and G. Kuppelwieser, 2014). In the next step, marketers focus on target customers to gain the more profit, growth and sustainability. Marketers choose the groups of customers to perform through distributing the markets in to segments of consumer using market segmentation. After that marketers make decision about the set of values in which they want to serve so that their segmented customers can get satisfied by distinguishing and positioning their products and services. It is referred as customer-driven strategy. For instance, Amazon is the company that initiated its business from online bookshops, but now it is the most well known online company that deals in almost all products such as grocery, electronics, households and so many. The main approach behind this achievement was to design a personalized home page for its consumers with having the features of Recommendation-for -you. It was the feature that reflects the recommendation of the products for customers with various market segments (Kumar and Bosangit, 2014). In the third step, integrated marketing product conducted by marketer to sow the integrated value to the targeted customers. Marketers focus on metrics off marketing in order to make effective marketing decision. The metrics is made up of 4ps and marketing mix tools. Marketers make a plan so that their targeted customers can be satisfied by using the effective products and offer the affordable price to them as well. They try to find the place of targeted customers and communicating and offering them about products and services in the form of promotion. With the help of customer relationship management marketers create a profitable relationship with targeted customers. In the final step, the aim of marketers to reproduce value from consumers through building satisfied and loyal in order to enhance the share of market and develop profits in return (Perreault, Canon McCarthy, 2014). The act of marketers is likely to be bridge between the consumer and business, designing and introducing strategic marketing to gain businesss goal. Marketers are those professionals who play a crucial role in the armlet to stimulating the economic growth by research and analyze the needs of the customers. References Kotler, P Armstrong, G 2008, Principles of Marketing, Pearson Education, New Jersey. Kumar, A. and Bosangit, C., 2014, Introduction to marketing communications and social media marketing, In Marketing cases from emerging markets (pp. 139-142). Springer Berlin Heidelberg. Perreault, D, Canon, P, McCarthy, E 2014, Basic Marketing- A Marketing Strategy Planning Approach, 19th edn International Edition, McGraw-Hilll/Irwin, New York. Sharp, B 2013, Marketing: Theory, Evidence, Practice, Oxford University Press, South Melnourne. Wirtz, J., Tuzovic, S. and G. Kuppelwieser, V., 2014, The role of marketing in today's enterprises, Journal of Service Management, 25(2), pp.171-194.