Marketing Is A Function Of Business Essay

735 Words Apr 11th, 2016 3 Pages
Marketing is a function of business, which involves in identifying customers’ needs and wants and meeting those needs and wants in return. As stated in the Charted Institute of Marketing (CIM) website, marketing is: “The management process responsible for identifying, anticipating and satisfying customer requirements profitably”, (Charted Institute of Marketing, CIM.co.uk).
This module talks about the principles in within marketing, for example, the marketing process which talks about understanding customer’s needs and wants and building a relationship with the customers, also, the marketing strategies of a business such as focusing on market research in order to obtain a potential and profitable product, and marketing management. In the same module, it also gave knowledge on the marketing mix which is a combination of product, price, place and promotion. Talking about the marketing mix, I learnt about the principles and values of what it needs in a business to be able to establish a brand image in order to make its products or services stands out from other competitors in the market. Product, in the marketing mix, stands for the features and appearance of goods and services; Price is how much a customer pay for a product; Promotion outlooks on how a customer is informed about a product or service, and place is where a product or service is made available to a customer. In the same topic, I also studied about the product mix, which is the number of product lines that an…

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