Indisputably, marketing was always one of the driving forces for the business success. In 2016 “Louis Vuiton” has spent 4.4 Billion pounds on marketing, aiming to increase their sales and maximise profits, but has it been beneficial, external to the company - how do we as individuals and collectively, as a society has benefited from marketing?
In this paper, I will analyze how marketing benefits society by matching consumer needs with the correct products, informing consumers and increases their product awareness, helping to understand consumer behavior, leading to innovations and improves standards of living.
“Marketing refers to the process through which businesses and organizations promote themselves and their products by communication …show more content…
Inevitably The composition of our community has been drastically changing every year. For example, it has been identified that By 2020, ethnic consumers will make up to 40 percent of the U.S. population (29 percent today). Marketers have been increasingly aware of the cultural and ethical diversity within the market and its changes. It is recognized that ethical groups have their tastes, customs, and beliefs. The University of Florida publication “Ethnic Marketing: A Strategy for Marketing Programs to Diverse Audiences” asserts the importance of analysing environmental, economic and social factors within ethnic groups, which would, in turn, help effectively match goods with consumers preferences and …show more content…
Almost every firm undertakes the research as part of the marketing process, to reach their aims and goals, resolve or complete any tasks. Marketing research process can is divided into five stages; Defining the problem, deciding the research plan, undertake the data collection, undertake the data analysis/interpretation, write the report and deliver the presentation. The data collection process can be done through the surveys or interviews.
In 1993 William Conner, a medical salesman, who decided he wanted to set up his own company, undertook the primary research, interviews. By analyzing the data collected he found that cutting a ligament was an unpleasant and risky move for physicians, hence there was a difficulty faced by physicians, therefore a need which yet was not met. As a result, he created an enzyme which could dissolve the ligament, solving the problem faced by
In this paper, I will analyze how marketing benefits society by matching consumer needs with the correct products, informing consumers and increases their product awareness, helping to understand consumer behavior, leading to innovations and improves standards of living.
“Marketing refers to the process through which businesses and organizations promote themselves and their products by communication …show more content…
Inevitably The composition of our community has been drastically changing every year. For example, it has been identified that By 2020, ethnic consumers will make up to 40 percent of the U.S. population (29 percent today). Marketers have been increasingly aware of the cultural and ethical diversity within the market and its changes. It is recognized that ethical groups have their tastes, customs, and beliefs. The University of Florida publication “Ethnic Marketing: A Strategy for Marketing Programs to Diverse Audiences” asserts the importance of analysing environmental, economic and social factors within ethnic groups, which would, in turn, help effectively match goods with consumers preferences and …show more content…
Almost every firm undertakes the research as part of the marketing process, to reach their aims and goals, resolve or complete any tasks. Marketing research process can is divided into five stages; Defining the problem, deciding the research plan, undertake the data collection, undertake the data analysis/interpretation, write the report and deliver the presentation. The data collection process can be done through the surveys or interviews.
In 1993 William Conner, a medical salesman, who decided he wanted to set up his own company, undertook the primary research, interviews. By analyzing the data collected he found that cutting a ligament was an unpleasant and risky move for physicians, hence there was a difficulty faced by physicians, therefore a need which yet was not met. As a result, he created an enzyme which could dissolve the ligament, solving the problem faced by