"Marketing is critical for organic growth of a business and its central role is in creating, communicating, capturing and sustaining value for an organization. Marketing helps a firm in creating value by better understanding the needs of its customers and providing them with innovative products and services. This value is communicated through a variety of channels as well as through the firm's branding strategy. Effective management of customers and pricing allows the firm to capture part of the value it has created. Finally, by building an effective customer-centric organization a firm attempts to sustain value over time." (HBS).
The knowledge about appealing to customers needs is a universal function of marketing. Regardless of where a business is, managers know that they can sell to people's needs.
explain the importance of consumer behaviour in marketing view?
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international marketing is a performance of business activities that direct the low of a company,s good,s & services to consumer or user,s in more than one nation
explain the functions of marketing information system?
explain the functions of marketing information system?
Market Analysis Setting Objectives Target Audience Identification Positioning and Differentiation Marketing Mix Development (4Ps: Product, Price, Place, Promotion) Budgeting and Resource Allocation Marketing Tactics Selection Implementation Planning Performance Measurement and Analysis Feedback and Optimization
The largest misconception about marketing is mistaking the process for just advertising or promotion - marketing is a business process geared to providing customers with the products and services they need while exploiting opportunities in the global business environment.
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Answers for explain the different characteristics a business
This depends on your definition of marketing. In a marketing focused organization the marketing plan is the business plan and considers all aspects of successfully bringing a product or service to market. However if you're in a business context such as pitching your business ideas your business plan will be more focused around projected earnings and a timing plan. Most of the time when a business plan is mentioned it refers to the documentation put together before the business is formed which outlines the market opportunity, how the business will be run, financial projections, etc. In this case the marketing plan would be a component of the larger business plan. For ongoing business operations, the marketing plan becomes the document that guides the company.