What Is The Role And Impact Of Marketing?

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Marketing plays such a crucial role in our lives, whether we realise it or not. It can be argued that it is one of the most important functions within a brand, and perhaps even the core of an organisation, as it has direct impact on sales and it is essential when introducing a new product, where initial buzz is important. In this essay the role and impact of marketing will be discussed, in particular during the launch of small electronic goods. The smartphone market, for instance, saw a global increase of 23.8% in 2014 (Business Wire), despite being a mature market. Constant innovation and clever marketing campaigns are the drive behind their success, above all, the buzz and success of the iPhone 6 proves this point - there is the buzz, the …show more content…
Perreault and McCarthy (1999) argue that putting together the 4P 's "will emphasise their relationships and their common focus on the customer" (p. 47). Product refers to a tangible or intangible product that may satisfy a need (Kotler and Armstrong, 2010), as well as intangible aspects such as packaging, branding, product name, design and features (Perreault and McCarthy, 1999). Each product is subject to a Product Life Cycle, which ranges from market introduction, growth, maturity and the decline stage (Kotler and Keller, 2012). Innovation is needed for the product to grow in terms of appeal and to differentiate from its competition, which is a vital factor in the tech industry. Perreault and McCarthy (1999) stress that it is important to keep in mind the product is there to satisfy the customers ' needs. A price is set after considering the market (e.g., competition) and on an assumption how willing the customer is to pay a particular amount for it. Place is concerned with providing the product in a particular distribution point that fits in line with the brand identity, and making it easy for the customer to purchase the product. The purpose of promotion is to reach your target audience, get them to understand your product and convey the right message. All 4P 's contribute and compliment one another; hence they are equal in importance. It is, however, vital to …show more content…
Brands are required to respond much quicker to demands and complaints with customers being tech savvy and not afraid to voice their indifference, making customer service a vital part in a marketing strategy. Edison Research (2012) discovered that "two-thirds of all those contacting a brand through social media for customer service, expect to receive a response the exact same day". When looking in the tech industry, Dell Inc. is a great case study of poor marketing and underestimating the power of the Internet. In 2005, Jeff Jarvis, a journalist voiced his dismay on his blog after having sent a product complaint and receiving shocking customer service. His blog post, 'Dell Sucks ', rapidly gained popularity, where many customers with a similar experience voiced their anger. Dell underestimated the voice of consumers and major news outlets got word of the issue and it became an international case, which resulted in major damage to Dell 's image. When the brand finally reached out to the customer (months later), it was already too late and the damage had been done, with Jarvis ' blog post resting among the top hits in search engines. [add

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