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NAME:         Monica Rivas                                                   DATE:          10/29/05

COURSE:   ESL 91                                                            ESSAY       # 2

 

MARKETING

Marketing is the process of organizing, planning and executing ideas, promotion and pricing of goods or services to satisfy customer’s needs. It is very imperative for all companies to count with good planning; make complete and reliable researches about what kind of consumers that product is going to be directed to; apply the law of supply and demand to compete with other powerful companies already in the market, while at the same time make a profit.  Also take into consideration the modern way of doing marketing nowadays, through the internet.  This is now considered the best way of buying and selling products or services with extraordinary results.  All enterprises or businessmen can use this technology, applied with excellent marketing techniques and devices to attract consumers to visit their web sites and buy.  Through this way trading got easier, faster and it is available for all kind of people around the world.  It also saves money and time for both, buyers and sellers, creating a good communication system between them, while offering better and satisfactory service.

 

The book “Modern Industrial Marketing”, written by George Risley gives us a more explicit and detailed concept of this process.  It says that “Marketing includes all business activities to determine the goods and wants of customers, develop new markets, aid in product development, estimate potentials, forecast, and aid in production planning; to operate a marketing organization, determine marketing strategy, select channels of distribution, inform and motivate customers, price, sell, and provide marketing services including order entry, customer financing, credit and collection, and both customer and product services; to provide for physical distribution, including packaging, transportation, field warehousing of finished goods, and delivery; to contribute to overall corporate planning and to plan and control this entire operation”

 

What is really remarkable from the definitions above, it’s that Marketing is a key of orientation for all companies in order to determine the needs, wants and values of target markets and to adapt the organization to satisfy customers more effectively and efficiently than its competitors, and to make a profit.  This attitude or approach must permeate throughout the organization to ensure that it can survive and grow in a competitive environment.

 

A good plan in Marketing determines how a company is positioned relative to its competition, how it is valued and how its customers relate to it.  It also states that there is not a general understanding of what a marketing plan is, or how to design one.  However even today there are huge companies that have forgotten that marketing is about planning and that they need to satisfy modern business, otherwise they will probably simply disappear under the waves of competition.   Many elements are involved for a good planning, starting from conferences, exhibits, interviews, brochures to annual reports and website, e-mail newsletters.  There must also be good knowledge of how to apply this “ingredients” together to finally get until the final step of selling.

 

THE LAW OF SUPPLY AND DEMAND:

Enterprises must also consider the law of supply and demand of a product.  If a product suddenly becomes popular, competition among consumers will increase its price and increase the profits earned by producers.  Enterprises will enter the market and increase production to meet the higher demand, converting resources that had been used to produce other products.  The higher the price, the larger the quantity supplied.

 

MARKETING WITH TECHNOLOGY:

Technology is the biggest boon in marketing history.  It adds firepower to traditional marketing weapons such as newsletters, brochures, flyers, business cards, proposals, signs, gift certificates  and catalogs, because it allows to produce them professionally yet easily.  It also enable enterprises to market online, so they can maintain control of their relationships, save time for them and their customers, and increases the ability to please customers, to lower costs of pleasing customers while increasing the productivity.  Service is anything the customer wants it to be, and not just something written in a manual, but keeping customer satisfaction at the highest level not just in a sometime event; but in all-the-time habit.

 

That is why it is very important for companies to know what’s on their customer’s minds, using questionnaire forms and to register that answers into their database.  This will enable companies to know what radio stations their customer listen to, which are their favorite TV shows, what newspaper they read, and to which magazines they subscribe and lots of other details that help them to study carefully and take action based on the responses.  For example companies can send a birthday gift card to motivate people’s next purchase since they know already topics in which they have indicated an interest, meaningfully, thoughtfully, personally.  It lets company have a dialogue with customers, e-mail them and answer their questions by means of the online brochure at your customer oriented website, and treat their requests with the speed they have learned to expect from the company.

 

For example, a good optometrist can think that he doesn’t need to advertise or promote his business, that the quality of his service would speak for itself, and that he would always have a steady customer base.  But when he realizes that he is losing patients he starts reconsidering his aversion to marketing.  He will sure look for advice and evaluate how technology could help him compete for customers without losing his personal touch. He will begin by setting up a database of all patients.  By studying the distribution of zip codes, he will discover that many patients seems to be traveling significant distances from their homes or maybe a large percentage of patients works close to his office.  He can also obtain a list of local businesses and launch a targeted fax campaign to attract new customers.  It will sure increase profits because he increased the use of technology.

 

Another good example of a company with success is Yahoo “which leads the pack, riding the online ad boom”, says the Business Magazine.  Like this, many others companies are growing fast through the internet.  There are new strategies for online marketing and this is a new method for conducting business, but there must be good knowledge to do it right, learning about what it is to get into; learn basics for building web site and techniques to promote it, getting familiar with the payment methods, etc.

 

In conclusion, we can say that regardless the kind of business, all of them have to follow good Marketing strategies to survive in a more competitive environment each day.  Today it is also imperative to conduct business online.  It is a good way to spread a product or services and allow customers and visitors to sail through their pages directly to the information they want most.

 

 

 

 

            BIBLIOGRAPHY

-                     Bickerton, Pauline; “Cybermarketing”, Butterworth Heinemann, 2000.

-                     Fortune Magazine, October, 2005, Computer Associates International.

-                     Levinson, Jay Conrad. “Guerrilla Marketing With Technology”, Addison Wesley 1997.

-                     Risley, George.  “Modern Industrial Marketing”, McGraw-Hill Book Company, 1972.