Define marketing and the two goals of marketing. As a company president, explain why each of the two goals of marketing is important to your company. Give examples.
Marketing deals mainly with customers although it can have many definitions. This simplest definition is: Marketing is managing profitable customer relationship. (Kotler & Armstrong, 2008). Marketing has two main goals of attracting new customers and keeping current customers. In my company the goals of attracting new customers and maintaining current customers is essential to keeping the company profitable and relevant. My company Vice GOLD, which is a clothing brand, will be launching soon and our marketing has to be effective. We have good reviews …show more content…
Steve Madden leopard heels because it is my style. Nike shoes are a want because it is a top sneaker brand with a variety of styles to fit a lot of people. another item that falls into the want category is an iPod which is used for entertainment purposes. it is a popular name brand item for storing and listening to music. Gatorade is also a want because it is a flavorful way to satisfy your thirst. If thirsty you could just drive water, which is a basic need but because may want flavor you might drink Gatorade. Demands are the form that wants take when backed by buying power. Continuing with the example of shoes; I want nice shoes to wear and if I can afford it, I can purchase $2,000 Christian Louboutin boots which is a very high end brand of shoes. A car can either be a need or want depending on where you live. If you live in a city like New York, having a car would be unnecessary because of their efficient subway system. While in a city without public transportation you would need a car to get around to the places you need to go.
Chapter 1 discusses a five-step marketing model process. page5.Identify and explain each step of the model and why each step is important to a successful marketing strategy. Use examples.
There is five-step model of the marketing process that companies need to