business to business marketing essay

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Essay: Business to business (B2B)

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Published: 6 November 2016*
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1.0 Introductions Business to business (B2B) marketing refers to the techniques and best practices used by many different type of company with producing their own products and services then sold to other businesses (brafton, n.d.). The main purpose of the business to business marketing is to meet the needs of other companies and businesses, although ultimately consumers drive the products these businesses offer (opening doors, n.d.). Dell is a largest direct-sale computer vendor in the whole world. Dell Computer Corporation sells desktop personal computers, notebook computers, network servers, and a variety of computer peripherals and software (reference for business, 2016). The main selling product for Dell Company in business is selling server to other company. Selling server is the main direction for Dell to get more profit and more customers. They are four tasks to complete in this assignment. For the first task is about comparing the differences between business to business (B2B) marketing and business to consumer (B2C) marketing. The second task was asked to explanation of the marketing mix of server produced by Dell Company and the key unique features in each element of the marketing mix of their server. The third task consists of the illustration of the organizational buying decision process for Dell Company. The final task is about the explanation of the market segmentation strategies used by the Dell Company for their server. 2.0 Business to Business Marketing (B2B) and Business to Consumer Marketing (B2C) There are two types of marketing, Business to Business (B2B) Marketing and Business to Consumer (B2C) Marketing. Business to Business (B2B) Marketing definition is product marketing companies or other organizations for the production and use of goods in general use in business operations, such as office supplies, or resold to other users, such as wholesalers sell to retailers. Business to Consumer (B2C) Marketing definition is a common term for all the company to use when searching for the type of business that going to run. Besides that, Business-to-consumer companies are more focused on selling their products to individuals and marketing for personal use. Other than that, they also offer packaging options that are appropriate for individual consumption (study, 2016). 2.1 Differences between Business-to-Consumer (B2C) Marketing and Business-to-Business (B2B) Marketing Nowadays, most of the organizations would operate their businesses by selling most of their products into two types of markets, which is the consumer market and the business market. Yet, the characteristics for these two kinds of markets are totally different. Business-to-Consumer (B2C) Marketing Business-to-Business (B2B) Marketing Market Structure and Demand – contain more but smaller buyers – more elastic demand – affected more by price changes – contain fewer but larger buyers – more inelastic demand – not affected as much by price changes Types of Decisions and the Decision Process – buying decision process is more simple – buying decision process is more complex Table 1: Summary of Differences between B2C and B2B Marketing The table above shows that there are three differences between business-to-consumer (B2C) marketing and business-to-business (B2B) marketing. Below are the following comparisons of the few differences between these two types of markets. 2.1.1 Market Structure and Demand For business to business marketing, even though it just few buyers from it but all of them are purchasing a large amount of product from the companies. Besides that, compare with business to business (B2B) marketing, business-to-consumer (B2C) marketing are totally different because there are a lot of buyers in the business-to-consumer (B2C) marketing, but all of them would just purchase a small amount of products from the companies. For example, other big companies will purchase a large amount of server from Dell Company in business to business markets. Dell Company will produce an amount of server only just for the company that order from them. It was because big companies are the main customer for dell because they are the one that will purchase a large amount of server from Dell Company and they can earn more profit. Besides that, business to consumer (B2B) marketing is customer will only purchase one or two server from Dell retailer and it earn little profit from it. In the other hand, demand in business-to-consumer (B2C) marketing is more elastic, whereas the business-to-business (B2B) marketing has inelastic demand. It represents the quantity of a good that a single consumer would buy at a specific price point at a specific point in time and in the same time purchase decisions in business market are so critical on their organizations’ marketing efforts (know this, 2016). Furthermore, the total amount of server demand in business market will not make a big impact on the price because nowadays quality is more important. For example, Dell Company won’t decrease their price on their server that demanded on other company in business market but only they will increase or maintain the price as well as giving the best quality of it. Meanwhile, in business market other company will continue purchase server from Dell no matter the price increased or decreased because they know that Dell has the quality assurance. 2.1.2 Types of Decisions and the Decision Process The difference buying decision process between business to business (B2B) marketing and business to consumer (B2C) marketing is business to business (B2B) marketing are more complex and complicated compared to the business to consumer (B2B) marketing. For business to business (B2B) marketing buying decision, these come after a long process and probably discussion with committee and only make the final decision. In the other hand for business to consumer (B2B) buying decision are opposite with the business to business buying decision, because consumer might discuss major purchases with partners or friends, but ultimately it is usually one person making the decision. Consumers are more liable to make impulse purchases than businesses (chron, 2016). Business customers often look for specific product attributes such as economy in cost and use, productivity, and quality. Additionally, B2B purchasers generally spend more money, as the buying process tends to be more complex and lengthy (bundless, 2016). Dell is as an example, dell supply their server to the retailers and companies in business to business markets when the order has been make. Dell will supply their servers when the total payment and order has been received. When send the order it mean that already make the right decision on purchasing which server from dell and it was the buying decision process. The companies need to pay to the Dell Company before they start to make the purchase and order so that it won’t have the misunderstanding on payment between each other. Business to consumers (B2C) marketing are totally different from business to business (B2B) marketing. Business to Consumers (B2C) marketing is consumer take a time to think on the product weather is it worth to buy, the product quality good enough for the price and should need this product. 2.2 Summary In summary, it is very important for all of the organizations to know and understand about the few differences between business to consumer (B2C) marketing and business to business (B2B) marketing that are mentioned above so that they can use some suitable marketing strategies to provide and sell a lot of their products more effectively and efficiently in both consumer markets and business markets. 3.0 Marketing Mix The diagram above show the marketing mix of 4Ps they are product, price, place and promotion. Marketing Mix meaning is some of the ideas and plans followed by sales representatives to promote a particular brand or product mixture known as the marketing mix. Some of the concepts and ideas that are combined together to draft a final strategy helps in creating a brand that is popular among many of the marketing mix (management study guide, 2016). The marketing mix refers to a standard strategic tool used by a lot of companies to promote and sell their products in the market. This kind of tool consists of four basic elements that are commonly termed as the 4Ps of marketing mix, which is product, price, place, and promotion. A complete set of marketing mix not just only about these 4Ps, but also includes another three elements, they are process, people and physical evidence. 3.1 Marketing Mix of Dell Each and every product would be provided and sold by implement different types of marketing mix respectively. So Dell company does the same, Dell company will also implement their own marketing mix on their own servers and products to promote and sell to other company in business market. Below will explain the 4Ps of marketing mix of Dell server, they are product, price, place and promotion. 3.1.1 Product For this element in marketing mix, server is one of the products made by Dell Company. Besides that, Dell Company also believes that, marketing is not only about just providing products or services but it is also essentially about providing changing benefits into the changing needs and demands of the customer (marketing 91, n.d.). Furthermore, Dell should show different type of design, color, models, specification and feature to impress the customer in business market. It will increase Dell sales in business market because of giving customer more choices to choose for their server and they will purchase a large amount of server for their company. 3.1.2 Price Price is the other element in marketing mix; the Dell Company use the competition-based pricing strategy to set the price for their server on the basis of the competition that is existed in the business market. Therefore, pricing strategies usually change as the product passes through its life cycle, because there is constrains on the company’s freedom to price a product at different stage (marketing 91, n.d.). The main objective of Dell is to produce the low price comparing to other competitor, affordable, and profitable PC for the customers. In this pricing strategy, Dell Company will have the competitive advantage over their competitor such as Lenovo, HP, Asus and other more. 3.1.3 Place For this component in marketing mix, place is also known as channel, distribution, or intermediary. It is the mechanism through which goods or services are moved from the manufacturer or service provider to the company that make the order in business market (marketing 91, n.d.). Therefore, Dell has been able to influence the positioning of their marketing campaign strategy. 3.1.4 Promotion The last element for marketing mix is promotion, Dell Company should promote their servers or products by advertising on television and the Internet, advertising in a variety of print media, and mailing or emailing a broad range of direct marketing publications, such as promotional materials, catalogues, and customer newsletters (marketing 91, n.d.). Besides that, Dell also needs to show the display on their company so that customer can have a look before making any purchase. This will help Dell Company increase their customer and sales in business market because promotion will attract more consumers to buy their server and product to gain a large amount of profits. 3.2 Summary In summary, for Dell Company can improve their sales on server and product more successfully by using the appropriate marketing mix that consists of four main elements that have been termed as the 4Ps of marketing mix, which is product, price, place, and promotion. 4.0 Organization Buying Decision Process Organizational buying decision processes define as a process in which the organizations recognize the need of a product or service and search for the best available brand or supplier among all the alternatives. Every organization needs to go through the eight stages of organizational buying decision process. Below is a diagram show that the organizational buying decision process. Diagram above show the eight stages of organizational buying decision process (Slide share, 2016) From the diagram showing in above, there are eight steps of organizational buying decision process; there are problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review. The following are the illustration of the organizational buying decision process conducted by the Dell Company for their servers. 4.1 Problem Recognition First step in the organizational buying decision process is purchasing process begins when someone in the company recognises a problem that can be solved by acquiring goods from the suppliers (your article library, 2015) Dell Company, they do the research in many different countries and found that most of the company that make the purchase of server from their company are demanding to have a better processor and higher ram so that it won’t lack when running more application and doing works. This happen is because most of the company use server to do their work and open many files to run so they hope to have a better processor of servers that it won’t affect and delay their works. 4.2 General Need Descriptions After identifying the problem having, the organization will start doing the general need description process of the total quantity and characteristics of the product that can be purchased from the supplier (marketing mix, n.d.). For Dell Company, they need more good quality materials and processor to build a large amount of server and sell it to their customers in business market. Furthermore, they have to make the decisions about the total amount of the processor and materials that should be purchased from the suppliers before they manufacture servers and send it to their customers. 4.3 Product Specification After obtaining the general need description, the organization will start to express the specification of the server (uk essay, 2016). For Dell Company, they need to specify and find out about what kind of materials and processor that should be used to making a large amount of servers in order to make sure that all their servers are in good quality and condition. Therefore, Dell can start to make purchase from the supplier. 4.4 Supplier Search In the fourth stage, an organization will start to do the research for the supplier of the goods needed. Therefore, this can be done by reviewing trade directories, compare few of the suppliers that are convenience or by doing computer search. Finally, there will be the one who has good reputation, convenience and offers best deals (uk essay, 2016). For Dell Company, they should have to conduct some researches on suppliers so that they can compare and look for the good quality with a reasonable price. Besides that, Dell also need to find out which suppliers have provide the necessary materials, and processor that will be used by them to produce a large quantity of servers. 4.5 Proposal Solicitation Once the supplier search is complete the next stage for the organizational buying decision process is proposal solicitation. In this stage proposal solicitation is about an organization will invite these qualified suppliers to submit their proposal (uk essay, 2016). In addition, the proposal must include product specification, price, delivery period, payment terms, taxes of experts and duties applicable, transportation cost, cost of transit insurance and any other relevant cost or free service provided (your article library, 2015) For Dell Company, they must also request for the detailed written proposals or the formal presentations from each of the qualified supplier so that they can analyse all of the proposals and choose one or two suppliers that are the most suitable to them for the produce their servers. 4.6 Supplier Selection In this step, organization will finalize the supplier by choosing one or two of the best supplier. There are few factors such as competitive prices, honest communication, quality products and services. Those are the great importance in this regard (uk essay, 2016). For Dell Company, they have to determine and choose one or two most appropriate suppliers that can provide and deliver the good quality of materials and processor on time with the reasonable price so that they can produce and sell a large quantity of server that are high quality and good performance to their customers in business market. 4.7 Order-Routine Specification At this stage the organization management will start to prepare an order-routine specification. It mean sending the final order with selected supplier and a list of other elements technical services after sales required, date of delivery return polices and warranties (uk essay, 2016). For Dell Company, they should also start to prepare and send the final order to their selected suppliers about what kind of materials and processor that are requested by them as well as the quantity of these few things that are needed and wanted by them before they manufacture those servers and sell it to their consumers in business market. 4.8 Performance Review After order routine specification, the next step organization will evaluate the performance of the supplier’s product or service provided. After that, the organization will review back the chosen supplier’s whether they need to continue, change, and drop the arrangement with the supplier (uk essay, 2016) For Dell Company, they must also evaluate the performance of their selected suppliers by asking their customers to rate the level of satisfaction on the quality. If a large number of their consumers are more satisfied on the high quality and great performance of their servers, then this situation means that the materials and processor that is offered by their chosen suppliers and used in the manufacture of servers are also have good quality as well. Therefore, Dell Company would decide whether continue purchase the same amount of materials and processor from the same suppliers in order to maintain the high quality and good performance of servers as well as retain their customers and increase more customer satisfaction. 4.9 Summary In summary, those eight steps of organizational buying decision process that are mentioned in above can help the Dell Company to avoid from making the wrong decisions by purchasing the low quality of materials and processor from the suppliers that are not suitable to them. 5.0 Marketing Segmentation Strategy The purpose of marketing is to satisfy the needs and wants of people and yet to making profit. Market segmentation in B2B is necessary as organizations in the market have different needs and wants. Therefore, marketers need to use different approaches to reach and fulfil organization need. 5.1 Vision Dell vision is “it’s the way we interpret the world around us—our customers needs, the future of technology, and the global business climate.” The definition of Dell vision means ‘an image of the future we seek to create (slide share, 2016).’ 5.2 Mission Dell’s mission is “to be the most successful computer company in the world at delivering the best customer experience in market we serve.” The definition of Dell mission is ‘who we are and what we do (slide share, 2016).’ 5.3 Porter’s generic Competitive advantage can be described in two ways in terms of a Firm’s performance, which is low cost of differentiation. A firm’s position in the market will be determines whether a firm’s profitability is low or high or just average by its performance. The generic competitive strategies are further divided into three other parts which is called Cost leadership, differentiation and focus. The focus strategy has two variant, cost focus and differentiation focus. 5.4 Cost Leadership In this strategies, a firm set out it main focus on cost by reducing it cost and becoming a low cost company in the market. This all depends on the structure of the company. This may include the scale of economic, technology management, preferential access to raw materials and many other factors. The company have to take advantage or even exploit all the different resources which will lead them to become a low cost producer. If they have achieve this then there will be above the average performer in the industry. Hence they can command prices closer or to an average range. 5.5 Differentiation In this strategy, Dell Company need to tries to come out with a product which is totally unique. The company try to come out with wider dimension which will be valued by the customers. The company will put one more or more attributes in their product which will be very important from the buyer point of view. Hence, positioning it very uniquely to meet the demands and satisfaction of the buyer, this will be rewarded for its uniqueness with a premium price. 5.6 Focus In Cost Focus the marketer seek for cost advantages in its target segment. Where as in differentiation focus a firm seek differentiation in its market seek. The both focus strategy relies on different segments of the market or targeting new segment. The target segment must have an unusual need of the buyer where as they must be able to deliver system which served best to the target segment. The different between the cost and the differentiation focus are that cost focus aims at the differences in the cost behaviour of a consumer where as the differentiation focus aims at the special need of the consumer in the market. After analysing the Porter Generic Advantage Strategies, it can be seem that Dell business model was similar to the Porter Generic Advantage Strategies because Dell came up with the cost leadership strategies, where removing all the intermediaries and keeping the cost at minimal and taking advantage of the market as well as exploiting the technology system of their production line, etc. Hence, becoming the Low Cost Producer in the market, this has leaded them to be more than an average performer in the market and allowing them to control the prices. 5.7 Segmentation 5.7.1 Geographic Segmentation When the market is divided into different geographical units such as region, nation, counties, state, cities or neighbourhoods, this method is called as a geographical segmentation. One enterprise might be determining to run its business within one or a few specific areas or to carry out its business all over the country and even the world but in terms of consumer demand will undoubtedly noticed regional differences. In the case of Dell, it has become a global famous company with its products and servers sold around every country of the world. However, due to the geographical differences, it is very important and significance to segment the global servers market geographically. Besides that, with some of the emerging and developing potential markets, such as China, it would be better to market into smaller segments (uk essay, 2016). 5.7.2 Age and Life Cycle Segmentation In age and life cycle segmentation it refers to divide a market into different age and life cycle group. Rational divide the market on the basis of age is on the demands of the people and wants to change with age. Therefore, it makes sense for Dell to provide different products or take advantage of the marketing tools changed to life and the life cycle of various groups. For example, when advertising their products by advertising on TV or via the Internet, advertising theme to teenagers and young people should be full of adventure, fashion, beat-up music and cut quickly from scene to scene, and content for adults can be more mature, more gently (uk essay, 2016). 5.7.3 Behavioural Segmentation When it comes to behavioural segmentation, it refers to segmenting a market into groups based on customers’ knowledge, use, attitude, or response to a product In this market segmentation, Dell does offer a wide range of services or products, from desktop to notebook computers, hardware products in the form of software to do a great job. To make the best use of behavioural segmentation, companies can use different people on the basis of development for business people, students, or home using servers (uk essay, 2016). 5.8 Target Market The target marketing strategies used will be differentiated marketing . The target group is main focus on company; those companies will continuously purchase servers from Dell Company. It is because they have the confidence on the quality of Dell servers so that they will purchase a large amount from Dell. Besides that, Dell Company will also target on hotel and shopping mall it is because Dell know that they need a good performance and good quality servers to do their work and good quality processor to run their system. 5.9 Summary In summary, the appropriate market segmentation strategies can help Dell Company to segment the market properly, choose the correct target market, and sell their server to a large number of their customers in the selected target market. 6.0 Conclusions and Recommendations The characteristics of business-to-consumer (B2C) marketing and business-to-business (B2B) marketing are definitely not the same at all times. Therefore, every organization must use some appropriate marketing strategies based on the differences between consumer markets and business markets in order to sell all of their products more successfully in these two markets. The marketing mix is always helpful and useful to the products that are sold to a large number of the customers. Hence, the Dell Company should use the most suitable marketing mix to distribute and promote their servers more efficiently so that they can increase the sales of their servers and gain more profit from it . The organizational buying decision process consists of eight important stages that need to be conducted by the companies when they decide to purchase some specific products, materials and processor from the suppliers that have been chosen. Dell Company have to make sure that the decisions made by them are through all the eight steps of organizational buying decision process are correct at all times so that they can buy the good quality of materials, and processors from the qualified suppliers for the production of Dell servers . Those effective market segmentation strategies will help the companies to compete with all of their competitors. Lastly, Dell Company need to segment and target the market correctly by implement the most appropriate market segmentation strategies in order to sell a large amount of their servers more to their consumers and survive in the competitive world.

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How To Write A Marketing Essay

Isabella Goode Freelance Writer

Writing a standout marketing essay requires strategic preparation and execution.

As a marketing expert, I’ll share my step-by-step approach to crafting an insightful, actionable paper that earns top marks.

7 Easy Steps To Write A Good Marketing Essay

1. deconstruct the assignment.

Before putting pen to paper (or fingers to keyboard), thoroughly analyze and understand the essay prompt and requirements. What specific question or topic are you expected to address? Is it a case study analysis, campaign proposal, theoretical evaluation, or something else entirely? Carefully read all instructions from your professor so you know exactly what the end product should look like. Clarifying the objectives early is crucial.

2. Select a focused, compelling topic

With the assignment parameters firmly in mind, choose a specific, interesting topic angle to explore in-depth. Overly broad, generic topics like “social media marketing strategies” make it extremely difficult to comprehensively research, structure, and provide unique value in the essay.

For students feeling overwhelmed or struggling to narrow down a fitting topic, services like Domypaper.com can help by saying “ Write paper for me .” Domypaper is an online essay writing service that pairs students with expert academic writers for guidance on any writing assignment, including selecting an appropriate topic that meets the requirements.

Their qualified writing staff provides coaching to develop a compelling thesis and focus that lays the groundwork for an insightful, high-quality marketing essay.

Instead, aim for a more focused perspective, such as “How Wendy’s Edgy, Humorous Voice on Twitter Resonates with Millennials.” A narrowed, compelling topic makes the entire writing process more manageable while allowing you to craft an authoritative, nuanced analysis.

3. Conduct exhaustive research

Credible, extensive research separates excellent marketing essays from mediocre ones. Simply Googling and reviewing a few articles won’t suffice. Utilize academic databases to access peer-reviewed journal articles, in-depth case studies, and other scholarly sources unavailable on the open web.

Review reports and publications from respected marketing analytics firms like Gartner, Forrester, and Nielsen. Analyze statistics, survey data, and expert insights from these industry authorities.

For essays examining specific companies, campaigns, or theories, go straight to the source material when possible. Explore case studies from the brands themselves, read executives’ interviews and presentations, and study entire marketing plans and reports. This level of comprehensive primary research will set your essay apart with an authoritative, nuanced analysis.

For students struggling with marketing essays or seeking assistance to qualify for valuable academic scholarships, consulting one of the top assignment writing services in Australia can provide expert guidance. Skilled academic writers from these services have proficiency in marketing topics and can help craft a compelling, well-researched essay that maximizes your chances of earning top marks or securing a scholarship.

Taking meticulous notes while conducting research is essential. I recommend using a free tool like ZoteroBib to correctly format citations in the required style (APA, MLA, Chicago, etc.) as you go – this minor prep work saves major headaches later when building the bibliography and referring back to sources.

4. Map out a logical structure

With adequate research compiled, it’s time to organize the content into a logical, progressive structure using an outline. While every essay will vary, many effective marketing essays follow a format similar to this:

Introduction – Capture the reader’s attention with a relevant fact, statistic, quote, or anecdote that underscores the importance of your topic. End the opening section with a clear thesis statement.
Background/Overview – Provide foundational context on the core topic, concepts, or businesses being analyzed so readers have a baseline understanding.
In-Depth Analysis/Evaluation – This comprises the heart of the essay. Use specific data, examples, and evidence from your research to analyze or evaluate your chosen subject from multiple angles.
Solutions/Recommendations – For certain essays, this section offers data-driven strategies or proposals for solving stated problems or optimizing areas of opportunity.
Conclusion – Recap the key points, findings, and takeaways in a succinct closing section. Leave readers with an insightful, thought-provoking perspective.

Use detailed section headings and transition sentences to signpost the logical flow of ideas for readers. Each component should directly build upon and support the central thesis in a progressive, cohesive manner.

5. Create the first draft

With your outline constructed, you’re ready to start actually writing the first draft. I recommend beginning with the body paragraphs (sections 2-4), as the outline acts as a comprehensive roadmap to follow.

Let the research guide the narrative – reinforce every key point and assertion with facts, statistics, relevant examples, expert quotes, and other authoritative evidence compiled from credible sources. A solid central analysis backed by quality data forms the backbone of an influential marketing essay.

To produce truly polished, professional writing: Keep paragraphs reasonably short and digestible (3-5 sentences). Utilize clear section headings as signposts. Maintain an academic yet accessible tone. Carefully edit for spelling, grammar, word choice and clarity as you progress through the draft.

6. Inject insightful perspective

Once you have a fairly complete first draft, review the content objectively with a marketer’s critical eye. Does your analysis provide unique, valuable insights that real marketing professionals would genuinely appreciate? Have you raised fascinating implications, opportunities, or questions for future consideration? Or did the essay become too surfaced-level, simply rehashing basic concepts without substantive depth?

If the draft feels lacking in some areas, conduct additional research and update the relevant sections with more nuanced perspectives, data, and key takeaways. Academic marketing essays should provide thoughtful observations that go beyond introductory concepts.

Don’t be afraid to share personal anecdotes, experiences, or viewpoints that enrich the content’s practicality – as long as claims are backed with proper evidence. An essay filled with only dry, unoriginal summaries falls flat. Aim to demonstrate an authentic passion and sophisticated understanding of the subject matter.

7. Polish and peer review

With a solid draft containing original insights and perspectives, take a step back and review the essay’s structural elements:

Does the introduction efficiently set up the topic and grab the reader’s interest?
Do all body sections logically flow and connect from one to the next?
Are there any areas that require reorganizing paragraphs or transitional sentences for smoother continuity?
Does the conclusion concisely summarize key findings and leave a lasting impression?

Finally, have an objective second set of eyes review the marketing essay from start to finish. Enlist a friend, classmate, or writing tutor to provide constructive feedback on areas requiring clarification, additional examples, or opportunities for tighter writing. Fresh eyes can identify gaps the author may have missed.

Carefully incorporating feedback and making any final revisions should yield a polished, insightful, actionable marketing essay that exceeds expectations. Follow these steps, and stellar grades are well within reach.

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Essay on Business

Business To Business Marketing Essay

Type of paper: Essay

Topic: Business , Sociology , Products , Company , Media , Shopping , Customers , Aviation

Words: 1600

Published: 12/07/2019

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Question 4: Discuss why growth opportunities for many firms, such as IBM or GE, are far greater in services than they are in products For many B2B firms, it is often much easier to market services than it is to market to services. This is because the B2B products can be described as being more complex. Typically, the B2B product must be marketed on grounds of its specifications. The B2B marketer must be able to showcase its value by concentrating on its specifications and often requires a lot of expertise to be able to convince the buyer to purchase the products. Often, the products have to be customized to client specifications, the marketer would have to take time to understand the needs of the client, and deliver products which conform to these specifications (Bache-Holden 2011). In addition, companies like GE and IBM have established themselves as market experts in their niche fields. These fields are also faced with high competition from other businesses offering the similar products. These companies can use their position as market leaders to advance services to other firms for example in IT maintenance for IBM and electrical systems maintenance for GE. Firms like IBM and GE usually have key accounts which make a difference to their sales. Due to the increasing competition from upcoming firms, and the restricted business units, these companies may have to make their key selling point their services which they can offer in addition to the sale of the goods. Therefore, apart from selling goods whose specifications and technicalities are required by the client, they also have to offer services which will appeal and add value to the client. These services could be the resolutions of complications, general maintenance, and technical advice. As a result, these companies have the opportunity to tailor themselves into a service-focused segment (Havaldar 2010). In this segment, the B2B marketer has to deliver high quality product ranges. Furthermore, this segment also requires excellent after sales services, fast delivery of goods, and maintenance services. Due to the competition in their product offering, and the restricted buying units, B2B firms offering products can use the services they offer as a value addition. This means that the quality of services they offer will act as a differentiating factor between one firm and another. This will definitely open up opportunities for the firm to grow by ensuring that it offers top-notch services which their clients will value and desire. By also offering services, the firms have greater opportunities to continue to develop their relationships with the clients. Personal relationships in B2B firms are important because many times the clients make purchases based on the levels of trust and loyalty that they have in the firm.

Question 5: Explain how B2B companies are using social media such as Facebook and Twitter to promote their products

Social media is mainly associated with B2C companies especially because it provides a forum for an emotional connection which is associated with consumer purchasing behavior. However, B2B firms also engage in social media to market their products. According to Bache-Holden (2010), the most favored social media channels used by B2B marketers are LinkedIn, Facebook, and Twitter. Others social sites include blogs, YouTube, Flickr, and others. Facebook is mainly used for branding companies/products and for promotion of events, product launches, and others. Twitter works best by creating a social interest in a brand by using concise promotional information. LinkedIn is best used to generate leads and to promote web traffic to company website or blogs. Blogs are forums where business related content is shared and can be used to build a community; they are excellent for getting feedback from clients and addressing their concerns. B2B companies often seek to establish relationships and many of their clients become long term buyers. Social media becomes an ideal platform on which to build relationships. Many B2B companies make sales through educating their clients about their product specifications. Social media offers an opportunity for the marketers to interface expressly with the clients and thus make them more knowledgeable and inclined towards buying their products (Havaldar 2010). This can be achieved by generating content on the social media channels which will promote further understanding of the company’s product offerings. In addition, social media tends to give companies a more human face, thus making them more relatable to consumers (Havaldar 2010). B2B companies also have the opportunity to generate business leads based on the social media practices they demonstrate. These firms use social media to showcase their business values by infusing them into their practices. For example, a company can demonstrate its customer-focus, by being responsive and attentive to clients. Any client concerns or complaints can also be addressed through these forums to further demonstrate the interest of the company in its clients. B2B companies can also take advantage of the fact that the B2B buyer tends to be more rational and less emotional than the B2C buyer. Purchases are made mainly through the business value which will be derived from it (Havaldar 2010). Therefore, social media can be manipulated to influence the buyer by providing the information which potential clients require. Buyers tend to get heavily involved in researching products, reviewing competitive firms, obtaining referrals, and getting educated about products before making a decision to purchase a product. Social media can be used by these companies to assist the client in this process by offering desired information and thus positioning themselves as the company of choice. Since B2B buyers rely heavily on recommendations, social media offers an excellent opportunity for such companies to solicit for feedback on their products from their clients (Bache-Holden 2011). This will be instrumental in influencing the buying decision of a potential client. An excellent example of a B2B company using social media is Scania Group, well known for manufacturing heavy trucks, buses, marine and industrial engines. Scania Group uses Facebook, Twitter, Flickr, and YouTube as social media channels. Scania uses these media to showcase their products, and to build relationships with their clients. Social media certainly acts as a cost-efficient marketing channel for this company. Before Emirates decided to purchase the new Airbus A350XWB, it underwent several phases. First, it evaluated the market to observe what the offerings of other companies. After the management must have critically examined itself to analyze whether they indeed had a critical need for the product and how it would serve the needs of its clientele. It would also establish how purchasing the airplane would position it amongst its competition and its buyers. After establishing that there was need for another airline, Emirates would then have explored the options by beginning an ardent search for information. Emirates would have considered several airplane manufacturers and analyzed their product offerings and services to settle for doing business with Airbus. Emirates would then get involved in establishing the actual value which the new airplane would bring to the airplane. This would probably involve considering the seat capacity and the cost per seat to determine whether it would fit in to Emirates market. They would also consider other factors like the aircraft’s fuel consumption and other specifications to establish whether the aircraft meets its needs. Therefore, Emirates would have to confirm that the airplane satisfies all its decision-making criteria before deciding to purchase it. This would have led into intense negotiations between Emirates and Airbus which would probably involve discussions on how Airbus would customize the aircraft according to the specifications of Emirates. There would then be negotiations on price until a favorable price would be agreed upon. This would have been done considering the effects which the global recession was having on both companies and after considering whether Emirates would still derive value despite the economic crisis. After all considerations would have been made and prices agreed upon, Emirates would then have officially made a decision to buy the airplanes. Other factors certainly played a great role in influencing Emirates to purchase more planes from Airbus. The first is that there was already an established relationship between the two organizations because they had already interacted during the purchase of the Airbus A380. Emirates had an opportunity to experience for themselves the business values of Airbus, and determine whether they would favor a long term relationship with the company. Airbus had an opportunity to exhibit their ethics by being able to compensate Emirates for the long delays which characterized the purchase of the Airbus A380. This served to build confidence in Emirates of the worthiness of Airbus as a business partner.

In conclusion, the decision to purchase the Airbus A350XWB was certainly a complex one where several factors were considered. These included market dynamics, where a need was established, and an analysis of the product specifications and fuel consumption of the airplane. The economic impact of such a purchase and the associated business value that would have been derived from such a purchase would have been established. Emirates would then have negotiated and recommended several changes in the plane so as to customize it to match its needs perfectly. This decision was also influenced by an already established relationship between Airbus and Emirates due to the purchase of the Airbus A380.

Bache-Holden A., 2011, Study: 93% of B2B marketers use social media marketing, Available at http://socialmediab2b.com/2011/04/93-of-b2b-marketers-use-social-media-marketing/ Havaldar K., 2010, Business marketing: texts and cases, New Delhi: Tata McGraw Hill.

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How to Write a Business Essay for Impactful Communication and Analysis

So, you've got a business essay coming up, and you're feeling a mix of excitement and a tad bit overwhelmed, right? Totally get it. Writing a business essay might sound boring, but trust me, it's a skill that's gonna come in handy when you're out there in the real world.

In this article, we're dishing out some awesome tips just for you if you have question on how to start a business essay. Think of it as your secret weapon to tackle those business essays like a pro. We'll keep it real, easy, and super practical – no fancy jargon or complicated theories. Let's dive into the world of business essay writing, where your words can make a big impact. In case you lack time or motivation to finish your assignment, use our business essay writing service to streamline the process.

What Is a Business Essay

Business essays are written pieces that explore and analyze various aspects of business-related topics, often focusing on management, marketing, finance, or entrepreneurship. They provide a platform for students and professionals to articulate their understanding of business concepts, theories, and real-world applications. Typically written in a formal and structured manner, a business essay requires critical thinking, research skills, and the ability to communicate ideas effectively. Whether delving into case studies, discussing industry trends, or evaluating business strategies, the essay aims to provide insights, draw conclusions, and contribute to a deeper understanding of the dynamic world of business.

How to Write an Introduction for a Business Essay

A business essay introduction sets the tone for the entire paper and captures the reader's attention. Here are some steps and tips to help you write an effective introduction for a business essay:

Understand the Purpose of the Introduction

Clearly understand the purpose of your essay. Are you providing an overview of a business concept, analyzing a case study, or arguing a specific point? Tailor your introduction accordingly.

Start with a Hook

Grab the reader's attention with a compelling hook. This could be a relevant quote, a surprising fact, a rhetorical question, or a thought-provoking statement. The goal is to make the reader want to continue reading.

Provide Context

After the hook, provide some background or context related to the topic of your essay. Help the reader understand the significance and relevance of the subject matter in the business world.

Thesis Statement

Clearly state your thesis or the main argument of your essay. This should be a concise and focused statement that outlines what the reader can expect from the rest of the essay. Make sure it is specific and reflects the purpose of your writing.

Outline the Scope

Briefly outline the main points or areas that your essay will cover. This gives the reader a roadmap of what to expect and helps them understand the structure of your essay.

Use Clear and Concise Language

Keep your introduction clear and concise. Avoid unnecessary jargon or complex language that might confuse the reader. Aim for clarity and precision.

Be Relevant

Ensure that every sentence in your introduction is directly related to the topic of your essay. Avoid going off on tangents or providing excessive information that doesn't contribute to the main points.

Consider the Tone

Choose a tone that is appropriate for your audience and the nature of your essay. Business essays can vary in tone, from formal and academic to more conversational, depending on the context.

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Business Essay Introduction Example

Here’s an example of an introduction for an essay titled “The Rise of E-commerce: Shaping the Future of Retail”:

The retail landscape is undergoing a seismic shift as e-commerce continues to redefine the way consumers shop. In this essay, we explore the profound implications of this digital transformation on traditional retail models and analyze the key strategies businesses are employing to thrive in this dynamic environment. From changing consumer behaviors to the strategic use of technology, the impact of e-commerce on the retail sector is undeniable, prompting businesses to adapt or face the risk of obsolescence.

How to Write a Business Essay

Working on a business essay might seem daunting, but it doesn't have to be. In this guide, we'll break down the process into simple steps to help you navigate through it smoothly. In this next section. We’ll be breaking down the essentials of drawing up a business essay from start to finish. From defining your main argument to structuring your points effectively, let's explore the key strategies that will set you on the path to success.

Analyze the Prompt

Start by carefully reading and understanding the essay prompt. This involves breaking down the question to grasp what it's asking for, identifying the main topics, and recognizing any specific tasks or points to cover. This step helps you set the stage for a focused and relevant essay by ensuring you address all aspects mentioned in the prompt. You can hire a business essay writer to expedite the process if you want.

Think of a Thesis Statement

When writing a business essay, think of the thesis statement as the essay's compass. It should be a concise, strong sentence that lays out your main argument or viewpoint on the topic. Your thesis guides the entire essay, so make sure it's specific, debatable, and gives readers a clear idea of what to expect in your writing.

Create an Outline

We’ve already shared tips on how to write an introduction for a business essay, so let’s move on to the next stages. Organize your thoughts by outlining the main points and structure of your essay. This doesn't have to be too detailed; just a roadmap that helps you see how different ideas connect. An outline ensures a logical flow in your writing and prevents you from going off track. By the way, have you already picked business essay topics ? If not, here’s a list of great ideas you can use!

Provide Topic Background

Before diving into your main points, the business essay writing format implies giving your reader some context about the topic. Briefly introduce the key concepts, relevant facts, or historical background that will help readers understand the importance and relevance of your essay.

Write the Main Body

Start developing your essay by expanding on the main points outlined in your thesis. Each paragraph should focus on a specific idea or argument supported by evidence or examples. Be clear and concise, ensuring a smooth transition between paragraphs. It’s the most difficult part of the assignment, meaning you can use our college essay service to simplify it.

Write a Conclusion

Summarize your key points and conclusively restate your thesis. The conclusion should tie up the loose ends and leave a lasting impression on the reader. Avoid introducing new information but rather reinforce your main argument. For more details about how to write a conclusion for an essay , please refer to our guide.

Add a Bibliography

List all the sources you used in your research. Be meticulous about citing your references properly, following the chosen format (APA, MLA, etc.). This adds credibility to your essay and avoids plagiarism issues.

Edit and Proofread

As you’ve learned how to write a business essay, it’s time to master the art of self-revising. Review your essay for clarity, coherence, and grammatical errors. Editing ensures that your ideas flow smoothly, and proofreading catches any overlooked mistakes. It's a crucial step to polish your essay and present a professional piece of writing. Do you have another assignment on business management ? This guide will help you!

Choose the Writing Format

Reiterate the importance of selecting and adhering to the chosen writing format throughout the essay. Consistency in formatting, citations, and other style elements contributes to the overall professionalism of your work.

Business Essay Example

Business essay examples offer practical assistance to students tackling assignments by showcasing the application of essential writing principles in a real-world context. As a tangible reference, it demonstrates an effective essay structure and how to formulate a clear thesis statement and provide coherent arguments. By examining examples, students can glean insights into research techniques, proper citation practices, and overall essay organization, empowering them to approach their business assignments with increased confidence and proficiency.

Example 1: “The Impact of Technological Advancements on Modern Business Operations”

This essay explores the multifaceted impact of technology on operational efficiency, innovation, customer relations, and global connectivity. From integrating automation and artificial intelligence for streamlined processes to facilitating global expansion through digital platforms, technology emerges as a driving force shaping the success and sustainability of contemporary enterprises. While acknowledging the numerous benefits, the essay also highlights the challenges and ethical considerations inherent in adopting these technologies, emphasizing the need for businesses to navigate these complexities responsibly for long-term growth and competitiveness.

Example 2: “Sustainable Business Practices: A Strategic Imperative for Corporate Success”

This essay explores the pivotal role of sustainable business practices as a strategic imperative for corporate success in the contemporary entrepreneurship scene. Addressing environmental concerns, social consciousness, and economic viability, the essay delves into the multifaceted benefits of adopting sustainable approaches. It discusses how businesses can align profitability with responsible practices, emphasizing environmental stewardship, social impact, and community engagement. The essay underscores the importance of regulatory compliance and risk mitigation in business by examining the economic advantages and innovation opportunities arising from sustainable initiatives.

Final Considerations

Students engage in writing business essays to develop essential skills and knowledge crucial for success in the professional world. These essays serve as a platform for honing critical thinking, analytical, and communication skills, allowing students to articulate and analyze complex business concepts. Through the process of researching, organizing thoughts, and constructing coherent arguments, students gain a deeper understanding of business principles and practices. Business essays also cultivate the ability to synthesize information, evaluate various perspectives, and present well-reasoned conclusions. If you find with task troublesome, you can always tell us, ‘ write my research paper ,’ and one of our wordsmiths will fulfill the assignment quickly.

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specializes in creating authoritative content on marketing, business, and finance, with a versatile ability to handle any essay type and dissertations. With a Master’s degree in Business Administration and a passion for social issues, her writing not only educates but also inspires action. On EssayPro blog, Annie delivers detailed guides and thought-provoking discussions on pressing economic and social topics. When not writing, she’s a guest speaker at various business seminars.

is an expert in nursing and healthcare, with a strong background in history, law, and literature. Holding advanced degrees in nursing and public health, his analytical approach and comprehensive knowledge help students navigate complex topics. On EssayPro blog, Adam provides insightful articles on everything from historical analysis to the intricacies of healthcare policies. In his downtime, he enjoys historical documentaries and volunteering at local clinics.

How to Write a Marketing Essay?

Updated December 13, 2023

How to Write a Marketing Essay? – Introduction

In the fast-changing marketing world, expressing your thoughts well in writing is important. To create an impressive marketing essay, you must be creative, think analytically, and understand your topic well. Whether you are a student trying to impress your teachers or a professional wanting to communicate your ideas effectively, this guide will help you powerfully turn your thoughts into how to write a marketing essay.

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Tips on How to Write a Marketing Essay

A marketing essay involves research, critical thinking, and effective communication skills. Here are some tips to help you on how to write a marketing essay:

1. Understand Your Audience and Purpose

Before you start writing, knowing who you are writing for and why is important. Are you writing for a teacher, a friend, or a larger group? If you are a student and need help with a term paper, consider using a platform like Grabmyessay . Consider whether you want to inform, influence, or analyze your essay. Adjusting your writing style and content to match your audience and goal ensures your essay is effective. For example, if you are writing a marketing essay for a teacher, you should use a more formal and academic tone. You could make it more casual and interesting for a wider audience.

2. Thorough Research is Key

Effective marketing essays are built on a foundation of thorough research. Dive into primary and secondary sources to gather relevant information, statistics, and case studies. Primary sources may include interviews with industry professionals, surveys, or firsthand experiences, while secondary sources encompass academic articles, books, and reputable online platforms. Research not only strengthens the credibility of your essay but also demonstrates your in-depth understanding of the topic.

3. Create a Compelling Thesis Statement

Your thesis statement is like the map for your essay. It should briefly express the main argument or point of view you will be addressing. For instance, “In this essay, we will look into how digital marketing affects on consumer behavior, highlighting the transformative role of social media platforms in shaping purchasing decisions.” This thesis statement clearly outlines the scope of the essay, indicating that the focus will be on digital marketing and its influence on consumer behavior, emphasizing social media platforms.

4. Craft a Captivating Introduction

One of the main rules for writing a quality essay is to write a strong introduction. The opening is the gateway to your essay; an interesting start can grab your reader’s attention immediately. Start with something catchy, like a question that makes people think, a quote that fits, or a surprising fact. Introduce the topic clearly and provide context for your thesis statement. Consider an introduction for the digital marketing essay that sets the stage for exploring digital marketing and its influence on consumer behavior.

5. Organize Your Thoughts Logically

A well-organized essay flows seamlessly, guiding the reader through a logical progression of ideas. Structure your essay. Start with an introduction to introduce your topic. Then, in the body paragraphs, discuss different points or ideas related to your topic. Finally, conclude your essay, restating your thesis or main idea. Each paragraph in the body should focus on a specific point or idea and provide details or examples to support it.

In the case of our digital marketing essay, body paragraphs could explore topics such as the evolution of digital marketing, the role of social media influencers, and the integration of data analytics in marketing strategies. Begin each part of your essay with a main idea sentence. Also, smoothly connect your thoughts using words linking one idea to another.

6. Support Your Claims with Evidence

In marketing, clarity and conciseness are important. Avoid jargon or overly complex language that may convey your audience. Clearly express your ideas using straightforward language while maintaining a professional tone. Support your arguments with factual evidence from data, case studies, or examples from real-world scenarios. It lends credibility to your essay and demonstrates that you can use ideas you have learned in real-life situations.

7. Revise and Edit Thoroughly

The future of digital marketing lies in brilliant communication. End your essay with a conclusion summarising your main points and supporting your thesis. The final step in crafting a standout marketing essay is accurate revision and editing. Review your essay to ensure it’s clear, makes sense, and has good grammar. Check that your ideas connect well and that each paragraph fits smoothly into the essay’s overall flow. Take the time to polish your essay, refining sentences for clarity and removing unnecessary or redundant information.

Final Thoughts

Transforming ideas into how to write a marketing essay is a rewarding process requiring creativity, research, and effective communication. By understanding your audience, conducting thorough research, and crafting a compelling thesis, you set the foundation for an impactful essay. Organize your thoughts logically, support your claims with evidence, and engage your readers with clear language. Anticipate counterarguments, create a memorable conclusion, and, most importantly, revise and edit thoroughly.

More From Forbes

The future of b2b go-to-market strategy: six things to expect.

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Besnik Vrellaku is the CEO and founder of Salesflow.io , a leading force in GTM software revolutionising B2B lead generation for SME’s.

In the B2B landscape, staying ahead requires more than traditional marketing tactics. With technological advancements, changing customer expectations and global market dynamics, businesses must adapt their go-to-market (GTM) strategies to remain competitive.

Imagine a future where your marketing messages are so precisely tailored that they resonate deeply with each client or where integrated digital platforms streamline every aspect of your operations. I believe this future is not far off; in fact, in many respects, it’s happening now.

Here are six transformative trends I see shaping the future of B2B GTM strategies over the next few years.

1. Hyper-Personalization

Personalization has been a buzzword for years, but I believe the next wave of B2B GTM strategies will see a leap toward hyper-personalization.

Advanced AI and data analytics tools have the opportunity to enable businesses to understand their customers better than ever before. By analyzing the vast amounts of available data, companies can craft highly tailored marketing messages and sales approaches that resonate deeply with individual clients.

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The AI market is projected to grow at a compound annual growth rate (CAGR) of 28.46% from 2024 to 2030. Expect the new wave of AI to help predict customer needs, automate outreach at optimal times and speeds and even suggest product features tailored to specific business pain points.

This level of personalization has not been seen before. As it develops, this means companies will not only be able to enhance customer satisfaction but also boost conversion rates and customer loyalty.

2. Integrated Technology Stack

I also believe the future of B2B sales and marketing lies in seamless digital platform integration. Look for companies to increasingly adopt integrated digital systems that connect various platforms and tools into a cohesive whole to make the job easier.

For example, sales and marketing teams can work within unified platforms that combine CRM, marketing automation, social media and customer service tools.

According to Statista, the market size of CRM software is projected to reach $89.3 billion in 2024, with revenue expected to show an annual growth rate of 10.35% between 2024 and 2029. I think this clearly demonstrates the increasing importance of integrated digital tools.

My company's own model is contingent on the increasing need to integrate the sales stack ecosystem for outreach, especially with the emergence of social selling for LinkedIn and email automation. Overall, these integrated stacks can help streamline operations, improve data accuracy and enhance the customer experience, enabling more coordinated and efficient GTM efforts.

3. Net Retention Strategies Focus For Revenue Operations (RevOps)

My next prediction is that net retention will emerge as a critical component of B2B GTM strategies. As the subscription economy grows , retaining and expanding existing customer relationships will become as important as acquiring new ones. Companies can invest more in net retention strategies and technologies to ensure clients achieve their desired outcomes with the product or service on offer.

RevOps looks to nurture existing customers, recognizing that many tools have become similar in offerings. This approach can help reduce churn, increase customer satisfaction and uncover new upsell and cross-sell opportunities. The communication of GTM tools emphasizes the importance of superior customer service and retention to retain customers for the long term.

4. Product Innovation And Excellence

At the core of any successful B2B GTM strategy is the product itself. In the SaaS world, where recurring business is the norm, continuous innovation is essential.

Ensuring your product remains relevant and valuable to customers requires a relentless focus on development and feature enhancement. Regularly releasing new features and improvements helps keep a product competitive and the evolving customer needs satisfied.

Seeking advisory-level input can accelerate innovation, ensuring your product remains ahead of market demands. Speed to market is crucial, and having the right expertise can make all the difference in achieving this goal.

5. Optimized Scalable Experimentation And Validation

Experimenting and validating at scale is also key for new product success. Offshoring the development of a simple minimum viable product (MVP) can allow quick market entry and efficient testing.

Manual validation ensures the product solves real problems, providing crucial feedback. Integrating GTM strategies during this phase helps reach the right audience and refine the product. This includes identifying target markets, crafting messaging and selecting distribution channels.

Once validated, scalable software development can help ensure broader market readiness, significantly enhancing the chances of long-term success.

6. Personal Branding For Lead Generation

My last prediction is that personal branding will become even more crucial for B2B leaders in the SaaS space. People today want to know who is behind the brand and what it stands for before they invest.

Building a strong personal brand can help leaders establish trust, differentiate themselves from competitors and effectively convey their unique value proposition. In my experience, personal branding on social media platforms such as LinkedIn can create more impressions than the average blog, making it a key focus for business leaders to position themselves as industry influencers and trusted advisors.

A strong personal brand can also greatly simplify building a business. Social media sites serve as a valuable platform for expressing your views and establishing yourself. By engaging genuinely and sharing sector-specific content along with your insights, you can foster real connections, which is crucial for effective lead generation.

Looking To Change And Innovation

The future of B2B go-to-market strategies hinges on embracing change and innovation. I believe companies that adopt strategies like hyper-personalization, integrated digital ecosystems and a strong focus on customer success are the ones likely to thrive.

Unifying CRM platforms will also become increasingly important. Furthermore, investing in customer success teams and technologies can help reduce churn and uncover growth opportunities, ensuring long-term loyalty and satisfaction.

Through all of this, continuous innovation and a forward-thinking mindset are key. I am certain that by adapting to these trends, businesses can stay ahead and drive sustained growth.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

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Business Essay Examples

13 Business Essay Examples for Students

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Published on: May 1, 2023

Last updated on: Jan 30, 2024

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Are you struggling to figure out the structure, research, or data required to make your essay stand out? Or frustrated by the lack of inspiration and ideas for your essay?

But don't give up yet! We have a powerful solution that will make your essay writing a breeze. Our list of business essay examples is here to help!

We have compiled expertly written business essay examples that will illustrate how to write a striking business essay.

With our examples, you'll be able to see how to structure your essay and generate creative ideas for your topic. And our tips will help you make the most of these examples.

So, let's dive in and get ready to learn!

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What is a Business Essay?

A business essay is a type of academic writing that focuses on business-related topics and issues. These essays can cover a wide range of topics such as marketing, finance, management, entrepreneurship, and more.

The importance of business essay lies in presenting a well-researched and informed analysis. To do this effectively, writers need to conduct extensive research and analysis on the topic at hand.

Referring to examples of business essays can help you gain insight into the structure, tone, and content of a well-written essay.

Business Essay Examples For Students

Here is a list of business writing examples

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Short Essay About Business

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Types of Business Essay with Examples

When it comes to business essay writing, there are several different types that you might encounter.

Here's a brief overview of each type, including their characteristics and an example of each.

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Case Studies

A case study is an in-depth analysis of a specific business situation or problem. It involves extensive research and data analysis to provide recommendations.

Case studies often showcase the application of theory to real-world business scenarios.

In today's highly competitive business environment, it's essential for companies to have effective marketing strategies that can help increase sales and generate revenue. In this case study, we will examine how Company X, a leading retailer, was able to increase their sales through an innovative marketing approach.

Company X was facing tough competition from other retailers in the market. They needed to find a way to differentiate themselves and attract more customers. They decided to focus on their customer experience by offering personalized recommendations, exclusive discounts, and rewards programs. They also implemented a multi-channel marketing approach that utilized social media, email marketing, and targeted advertising.

Their efforts paid off as they saw a significant increase in customer engagement and sales. Their personalized recommendations and rewards program helped to build customer loyalty, while their multi-channel marketing approach helped them reach a wider audience.

Furthermore, Company X also used data analysis and optimization to continuously improve their marketing strategies. They tracked their marketing campaigns and analyzed the results to identify what worked and what didn't. This allowed them to adjust their approach and optimize their marketing spend.

In conclusion, Company X was able to increase their sales by implementing effective marketing strategies that focused on the customer experience, utilized a multi-channel approach, and used data analysis for optimization. Their success shows that with the right marketing approach, businesses can achieve their goals and stand out in a highly competitive market.

Research Papers

Research papers involve a more academic approach to business writing. They typically require an extensive literature review, data analysis, and original research.

Business research papers aim to contribute new knowledge to the field of business. These often involve a hypothesis or research question.

The relationship between employee satisfaction and company profitability has been widely studied and documented in academic literature. A number of studies have consistently shown a positive correlation between employee satisfaction and company profitability (Bockerman & Ilmakunnas, 2012; Saks, 2006). When employees are satisfied, they are more engaged, productive, and committed to the success of the company. This leads to increased profitability and a competitive advantage in the market.

Employee satisfaction also has a significant impact on reducing employee turnover and associated costs. Studies have shown that when employees are satisfied, they are less likely to leave their jobs, reducing recruitment and training costs for the company (Harter, Schmidt, & Hayes, 2002).

Moreover, employee satisfaction can lead to positive word-of-mouth advertising and increased customer satisfaction. Satisfied employees are more likely to provide excellent customer service, leading to increased customer loyalty and repeat business (Heskett, Sasser, & Schlesinger, 1997).

Therefore, it's essential for businesses to prioritize employee satisfaction by providing a positive work environment, opportunities for growth and development, fair compensation, and benefits. Businesses should also regularly assess employee satisfaction levels and address any issues promptly.

In conclusion, the evidence shows that employee satisfaction is a crucial factor in the success of a company. By prioritizing employee satisfaction, businesses can increase profitability, reduce turnover costs, and improve customer satisfaction. It's essential for businesses to invest in employee satisfaction and consider it a corporate social responsibility to gain a competitive advantage in the market and achieve long-term success.

Argumentative Essays

Argumentative business essays aim to persuade the reader to adopt a particular point of view or take a specific action. They present an argument and use evidence and logic to support their claims.

Argumentative essays can address various business topics such as management practices, ethical issues, or market trends.

Benefits of Telecommuting for Companies and Employees

Telecommuting, or working from home, has become increasingly popular in the business world in the United States and globally as well. While some employers are still skeptical about the effectiveness of telecommuting, there are many benefits to this work arrangement for both companies and employees.

One major benefit of telecommuting is increased productivity. Studies have shown that employees who work from home are often more productive than those who work in traditional office settings. This is likely due to a combination of factors, including fewer distractions, less time spent commuting, and greater flexibility in scheduling.

Another benefit of telecommuting is reduced overhead costs for companies. By allowing employees to work from home, companies can save money on office space, utilities, and other expenses. This can be especially beneficial for small businesses or startups that are operating on a tight budget.

Telecommuting also has benefits for employees. It can reduce stress and improve work-life balance by allowing employees to spend more time with their families and avoid long commutes. It can also be a valuable perk for attracting and retaining top talent, especially in industries where remote work is becoming increasingly common.

Of course, there are some potential downsides to telecommuting as well. For example, it can be more difficult to collaborate with colleagues and build strong relationships with coworkers when working remotely. Additionally, some employees may struggle with self-discipline and motivation when working from home.

Overall, however, the benefits of telecommuting for both companies and employees are clear. By embracing this work arrangement, businesses can increase productivity, reduce costs, and improve employee satisfaction and retention.

White Papers

A white paper is a document that provides a detailed explanation of a particular issue or problem, often with recommendations or solutions.

White papers are typically used to educate stakeholders about a specific topic. These are often used in the business-to-business (B2B) context.

Navigating the Benefits and Challenges of Implementing a New CRM System: Insights for Informed Decision Making.

Implementing a new customer relationship management (CRM) system can be a challenging yet highly beneficial undertaking for businesses. In this white paper, we will outline the benefits and challenges of implementing a new CRM system and provide insights to help businesses make informed decisions.

Benefits of implementing a new CRM system:

Improved customer experience: A CRM system can help businesses gain a better understanding of their customers' needs and preferences, allowing them to tailor their products and services accordingly. This can lead to increased customer satisfaction and loyalty.

Increased efficiency: A CRM system can automate many processes, such as customer data management and lead tracking, freeing up valuable time for employees to focus on more strategic tasks.

Better data management: A CRM system can provide businesses with a central database for customer information, making it easier to manage and analyze data. This can lead to more informed decision-making and better business outcomes.

Challenges of implementing a new CRM system:

Cost: Implementing a new CRM system can be expensive, with costs including software licensing, hardware upgrades, and employee training.

Implementation time: Implementing a new CRM system can take several months, during which time businesses may experience disruptions to their operations.

Resistance to change: Some employees may resist the implementation of a new CRM system, requiring significant effort from management to ensure buy-in and adoption.

Comparative Essays

Comparative business essays compare and contrast two or more topics or ideas. They typically analyze the similarities and differences between the topics to evaluate their pros and cons.

Comparative essays can focus on various aspects such as products, companies, markets, or strategies.

Coca-Cola and PepsiCo are two of the biggest soft drink companies in the world. Both companies have been in competition for decades, and their marketing strategies have evolved over time. This comparative essay will analyze the marketing strategies of Coca-Cola and PepsiCo.

Coca-Cola is known for its classic marketing campaigns that focus on emotions and memories. One of their most famous campaigns is the "Share a Coke" campaign, where the company personalized its products with customers' names. This campaign helped Coca-Cola increase its sales and improve customer loyalty.

PepsiCo, on the other hand, is known for its focus on youth culture and celebrity endorsements. The company has collaborated with popular musicians and actors such as BeyoncÃ© and Michael Jackson to promote its products. This marketing strategy has helped PepsiCo attract younger consumers and improve brand recognition.

When comparing the marketing strategies of Coca-Cola and PepsiCo, it is important to note that both companies have their strengths and weaknesses. While Coca-Cola's emotional marketing approach has helped it establish a strong brand identity, PepsiCo's focus on youth culture has helped it appeal to a wider audience.

In conclusion, the marketing strategies of Coca-Cola and PepsiCo differ significantly, but both companies have been successful in their own right. It is up to each company to determine which marketing approach works best for them and their target audience.

Choosing the appropriate essay type can help you in effectively conveying your message to the target audience.

How to Structure Your Business Essays

As you begin writing your business essay, it's important to structure it in a clear and organized way.

Here's a step-by-step guide with business essay samples to help you do just that:

Executive Summary

The executive summary is a brief overview of your entire essay. It should summarize your main points and highlight your recommendations.

This section should be written after completing the essay, as it gives a clear picture of what the essay covers.

Here is how you start a business essay sample:

This essay provides an in-depth analysis of the marketing strategies employed by Coca-Cola and PepsiCo. The essay highlights the similarities and differences between the two companies' approaches to product development, distribution, and advertising. Based on the analysis, recommendations are made for how each company can improve their marketing strategies to better meet the needs of their target audience. The implementation plan outlines the steps necessary for each company to execute these recommendations successfully.

Introduction

The introduction sets the stage for the rest of the essay. It should introduce the topic, provide background information, and explain the purpose of the essay.

Here is a business essay introduction example:

In recent years, the concept of telecommuting has gained popularity as a means of increasing productivity and reducing costs for companies while providing flexibility for employees. This essay will explore the benefits of telecommuting for both companies and employees, including increased productivity, cost savings, and improved work-life balance. Additionally, the essay will discuss potential challenges associated with telecommuting and provide recommendations for successful implementation of a telecommuting program.

Industry Analysis

In this section, you'll conduct a thorough analysis of the industry in which the business operates. You should examine factors such as competition, market trends, and customer behavior.

Here is a sample industry analysis

An analysis of the soft drink industry reveals a highly competitive market dominated by two major players, Coca-Cola and PepsiCo. Both companies have a strong global presence and compete fiercely for market share. Recent trends in the industry show a shift towards healthier beverage options, with consumers becoming increasingly health-conscious. This has led to a rise in demand for low-sugar and low-calorie alternatives, such as sparkling water and fruit-infused drinks. In addition, technological advancements in the industry have allowed for greater customization and personalization of products, with companies using data analytics to better understand consumer preferences and target their marketing efforts.

Key Issues or Problems

This section should identify the main issues or problems faced by the business. You should provide evidence to support your claims and analyze the impact of these issues.

Here is an example paragraph:

In recent years, the XYZ Corporation has faced several key issues that have impacted its bottom line. One of the main issues is increasing competition from new entrants in the market. This has led to a decrease in market share and reduced profit margins for the company. Additionally, there has been a shift in consumer preferences towards more environmentally-friendly products, which the company has been slow to adapt to. These issues have caused significant concern for stakeholders and highlight the need for the company to address these challenges in a timely manner.

Solutions or Recommendation

Here, you'll provide solutions or recommendations to address the issues identified in the previous section. Your solutions should be well-supported and feasible.

For instance:

To address the issues of low employee morale and high turnover rates, the company should consider implementing an employee engagement program. This could include regular employee feedback sessions, recognition and reward programs, and opportunities for career growth and development. By investing in their employees' well-being and growth, the company can create a more positive work environment and reduce turnover rates. Additionally, the company should consider implementing a mentorship program to provide guidance and support to new employees, which can also contribute to employee retention and overall job satisfaction.

Implementation Plan

For this part, you'll outline a plan for implementing the solutions or recommendations you've proposed. This is sort of a description of the business model you suggest.

This section should be detailed and include specific action steps.

For example:

The implementation plan for our proposed solutions will involve several key steps. Firstly, we will need to gather a team of experts to oversee the implementation process. This team will be responsible for coordinating with various departments within the company, such as global marketing and operations, to ensure that the plan is executed smoothly. Secondly, we will need to allocate the necessary resources, such as funding and manpower, to carry out the plan. Finally, we will need to establish a timeline with specific deadlines for each action step, so that we can track our progress and make adjustments as needed.

Finally, you'll wrap up your essay by summarizing your main points and reiterating your recommendations.

This section should be clear, concise, and impactful.

In conclusion, this essay has highlighted the importance of customer relationship management (CRM) systems in modern businesses. The analysis of industry trends and key issues facing businesses has shown that effective use of CRM can improve customer satisfaction, increase sales, and ultimately lead to a competitive advantage. Through the proposed solutions and implementation plan outlined in this essay, businesses can overcome the challenges of implementing a new CRM system and reap the benefits. It is recommended that businesses invest in CRM and continuously evaluate their usage to stay ahead of the competition in the ever-changing market.

By following this structure, your business essay will be well-organized, coherent, and easy to follow for your readers.

Tips for Using Business Essay Examples Effectively

Now that you have quite a few business essay examples at hand, you should know how to use them effectively:

Use them as a guide, not a template : While it's great to learn from examples, you should never copy them outright. Instead, use them as a starting point for your own research and writing.
Analyze the strengths and weaknesses of the essay : Take note of what works well in the example essay, as well as any areas that could be improved. This will help you understand how to make your own essay even better.
Use them to inform your own research and writing : Pay attention to the research methods, sources, and evidence used in the example essay. This can give you ideas for your own research and help you strengthen your arguments.
Avoid plagiarism and ensure proper citation: Whenever you use ideas or information from an example, make sure to cite your sources. This will help you avoid plagiarism and maintain academic integrity.

You now have a plenty of business essay examples on different topics to help you get started!

By following our tips and studying the sample essays, you can confidently write your own essays that are clear, concise, and impactful.

However, if you still find yourself struggling with your business essays, just reach out to our professional business essay writing service .

We have the best online essay writing service and are ready to provide you a high-quality business. Our writing service has subject specialist writers who can tackle any business essay topic.

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Business-to-Consumer vs. Business-to-Business Online Marketing

📄 Words:	1292
📝 Subject:
📑 Pages:	6
✍️ Type:	Essay

Introduction

Business to consumer (B2C) and business to business (B2B) are two different types of marketing in the sense that there are different factors that come into play when an individual is buying goods for their company and when they are buying for themselves. All marketing requires establishment of relationships and due to the different emotional experiences when buying for oneself and when buying for one’s company, the strategies used in a B2B site are different from those used in a B2C site.

B2B marketing involves the sale of goods and services to other businesses for example Grainger.com selling industrial supplies to both small and large businesses via its web site.B2C involves selling mainly to consumers for example Walmart.com selling merchandise to consumers through its web site. The programs for marketing are similar for both types of businesses and they include, advertising, public relations, internet marketing, events and direct marketing as well as alliances and word of mouth (NSW, 2005). The differences arise in the execution of programs, what is said and the outcomes associated with the marketing activities.

The first steps in development of market strategies for B2B and B2C are similar. However the similarity ends here. The first step is to make an identification of the customer and to identify the reason that they need to hear one’s message. B2B marketing is more relationship driven than B2C marketing and will thus require maximization of the value of the relationship. This maximization is necessary because, often B2B sites have small but focused target markets.

A personal relationship helps to create brand loyalty and identity when selling to a business; selling to a consumer is different because brand identity can easily be created through imagery and repetition (Warwick, 2000). To create this brand identity then in a B2B site the business operating the site has to be involved in a lot of activities that create awareness and educate. For a B2C, site awareness creation and education are not as important as activities at the point of purchase and merchandising activities.

These are the things that attract the consumer to the product. The decision to buy on a B2B site is guided by rationale and has to have some value to the business that is making a purchase, hence the market for a B2B site is a small and focused one unlike the larger markets of B2C sites. These markets are characterized by purchasing decisions based on price, desire and/or status (Schneider, 2004). The aim therefore at a B2C site is to maximize the value of the transaction.

Another major difference between selling to consumers and selling to businesses is the fact that the sales cycle when selling to a business is longer than when selling to a consumer, often selling to a consumer involves only a single step in the buying process, while there are several steps in selling to a business (Schneider, 2004).

For a B2C site the most important goal is the conversion of the shoppers into buyers with as much aggression and consistency as is possible. These companies utilize merchandising activities for example displays, store fronts (both on the Internet and real), coupons and offers that serve as enticement for purchases by the target market. The marketing campaign for a B2C places greater concern on the transaction and is usually of a short duration with an aim of capturing the interest of the customer within the shortest duration possible. It is commonplace for these campaigns to offer special deals, vouchers and discounts that can be used at the store and also on line (Warwick, 2000).

For example where the objective of a campaign via email is to get consumers to purchase the product as soon as possible. The email then takes the consumer to a web site page that has been designed to make a sale of the product. The purchase is made easy by integration of the shopping cart and the checkout page such that they form part of the flow of the transaction. If there are too many clicks the customer may decide to forget about the shopping cart. Companies like Amazon, Staples and Best buy have added education to their merchandising activities so that they can maintain loyalty. As such the better customer service means that the many customers are likely to be coming back to the same B2C site.

B2B marketing also has the goal of converting prospective customers into buyers, but this process is longer and more involving. This is because, the business to business buyer is more focused on enhancing productivity, cost reduction and increasing the profitability of their own businesses. The B2B company therefore needs to put greater focus on building a relationship and communication. The marketing activities should generate leads that can undergo a nurturing process during the sales cycle. Companies that are selling to businesses need to educate the different players in the audience that they are targeting.

This is because, for most businesses the decision to buy is not made by one person. For instance, an email campaign that is used by a B2B company should have web prospects in which the intended customers learn about the products and services provided by the B2B. The email should have contact information for communications both online and offline. The landing page should have information on features, benefits and as much as is possible on pricing.

This is usually the initial step in a long process of marketing that will include telemarketing, direct mail, newsletters, Web casts and finally follow up by the sales people. The sales representatives will provide the opportunity for discussion of the businesses requirements in greater detail and help in moving along the process of the sales cycle. Content is a significant factor in B2B marketing and the use of newsletters, white papers and the coverage of services and products helps the companies in educating their prospective buyers.

The issue of brand is one of importance in both B2C and B2B markets. The reasons for this importance are however different. In a B2C site, a brand that is strong is likely to make the consumer purchase, maintain their loyalty and sometimes even pay a price that is higher. This is because consumers motivation lies in style, prestige and status. For example the likelihood of buying Nike, Rolex, BMW and Lexus is high on a B2C site even though this means paying more for this brand. In a B2B site, brand may cause one to be considered but it may not seal the deal. A quality brand is important for making good first impressions but the B2B site will not benefit much from large investments into building brand awareness (Vistaplan, 2008).

The B2B buyer usually is a sophisticated buyer with a good understanding of the service or product and usually wants to make a purchase that will help their business to stay competitive and profitable. Consequently marketing copy should be such that it speaks to an audience that is sophisticated. Writing this marketing copy should therefore be treated with the complexity it deserves and adequate research should be done to ensure adequate delivery of the necessary information to the buyer.

The B2C buyer on the other hand is in search of the best price and will do the necessary research before shopping. Both buyers appreciate customer service but B2B customer service begins even before the business makes a sale; it begins when the customer makes their first contact with the B2B site. B2C customer service is more for creating loyalty and trust. The most important thing to remember when differentiating marketing in the two sites (B2B and B2C) is that the target audiences are different and therefore the marketing programs need to speak differently to the different markets.

Gary SP, 2004, Electronic Commerce- The second Wave , Fifth edition, Thomson Course Technology.

NSW Department of Regional Development, Brief: Electronic Commerce . Web.

Vistaplan, 2008, Marketing for B2C versus B2B: Similar but different. Web.

Warwick F, 2000, Secure Electronic Commerce: Constructing Infrastructure for Encryption and Digital Signatures , second edition, Prentice Hall.

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Essay on Marketing

Students are often asked to write an essay on Marketing in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Marketing

The world of marketing.

Marketing is about spreading the word on products and services. It helps companies connect with customers.

Understanding Customers

Effective marketing begins with understanding what customers want and need. Companies study people’s preferences and behaviors.

Creating Products

Using customer insights, businesses develop products that solve problems or bring joy.

Communication is Key

Marketing involves telling people about products through ads, social media, and more. Clear communication is crucial.

Building Brands

Adapting and growing.

Marketing strategies change based on feedback. Companies adapt to stay relevant and successful.

Marketing is like sharing stories that connect what people need with what companies offer. It’s an exciting way to make products part of our lives.

Also check:

250 Words Essay on Marketing

Understanding the power of marketing.

Marketing: a concept that shapes the modern world. It’s more than just ads and promotions; it’s the engine driving business success. Let’s explore its significance.

The Essence of Marketing

At its core, marketing is all about connecting products or services with people’s needs and desires. It’s about creating value, not just selling. Effective marketing answers the question, “Why should customers choose us?”

Segmentation and Targeting

Value creation through branding.

Branding isn’t just a logo; it’s the emotions and perceptions associated with a product. Strong brands build trust and loyalty, allowing companies to command premium prices.

The Digital Revolution

The digital age has revolutionized marketing. Social media, search engines, and online ads allow for precision targeting and personalized communication. It’s not about bombarding, but about engaging.

Content is King

Analyzing and adapting.

Marketing isn’t a one-shot deal. It’s a constant process of analyzing results and adapting strategies. Tools like analytics help track what works and what doesn’t, leading to informed decisions.

Ethics in Marketing

With great power comes great responsibility. Marketing should be ethical, transparent, and respectful. Deceptive practices might bring short-term gains, but they erode trust in the long run.

The Bottom Line

In a nutshell, marketing is the bridge that connects what you offer with those who need it. It’s not just about selling but about creating lasting value. Understanding its principles can propel businesses toward success in the modern world.

500 Words Essay on Marketing

Marketing: connecting the dots for successful business.

Marketing is like a magical thread that weaves businesses and customers together, creating a world where products and services find their perfect match. In this modern age, new-age techniques like Virtual and Augmented Reality (VR/AR), Chatbots and Conversational Marketing, Programmatic SEO , Social Commerce, and Neuromarketing have added exciting dimensions to this field. Let’s delve into the basics of marketing and explore how these techniques have transformed the way businesses reach out to us.

Imagine you’ve baked the most delicious cookies in town. You want everyone to know how tasty they are. That’s where marketing comes into play. Marketing involves all the activities that help you promote and sell your products or services. It’s about understanding what people want, creating something they’ll love, and then letting them know it exists.

Meeting New Friends: Customers and Businesses

In the world of marketing, two important players dance together: customers and businesses. Customers are people like you and me who need things. Businesses are the ones that make those things. Marketing helps these two groups find each other.

Traditional vs. Modern Marketing

Traditional marketing used to be all about newspapers, TV ads, and posters. But today, things have changed a lot. Businesses use new-age techniques to grab our attention in creative ways. Virtual and Augmented Reality (VR/AR) let us experience products almost like they’re real. Chatbots talk to us on websites and social media, making shopping feel like chatting with a friend. Social Commerce lets us buy things through platforms like Instagram and Facebook, as if we’re shopping with friends online.

Getting Found: SEO

Think about searching for something online. How often do you go past the first page of search results? That’s why businesses use SEO. It’s like making sure your cookie recipe appears at the top when someone searches for “delicious cookies.” This technique helps businesses get noticed by improving their online visibility.

Understanding Your Brain: Neuromarketing

Ever wondered why some ads just stick in your head? Neuromarketing dives into how our brains respond to ads. Businesses use this technique to create ads that connect with us on a deeper level. It’s like making sure your cookie commercial triggers happy thoughts every time you see it.

Chatting with Businesses: Conversational Marketing

Have you ever had a chat with a robot on a website? That’s Conversational Marketing. Businesses use chatbots to talk to us, answer our questions, and even help us choose the right products. It’s like having a helpful assistant while shopping.

Shopping in Your Pajamas: Social Commerce

Putting it all together.

Marketing is like a puzzle where every piece matters. Businesses create amazing products, use modern techniques like VR/AR, Chatbots, Programmatic SEO, Social Commerce, and Neuromarketing to make us notice them, understand us better, and make shopping a breeze.

In conclusion, marketing is the bridge that connects what we need with what businesses offer. Through traditional and new-age techniques, it has evolved into a captivating journey that is all about understanding, connecting, and engaging with customers. Whether it’s through the immersive experiences of VR/AR, the friendly conversations of chatbots, the smart visibility of SEO, the emotional impact of Neuromarketing, or the convenience of Social Commerce, marketing continues to shape the way we discover, choose, and enjoy the products and services that make our lives better.

If you’re looking for more, here are essays on other interesting topics:

Essay on Marketing

List of essays on Marketing. Marketing is a comprehensive term and it includes all resources and a set of activities necessary to direct and facilitate the flow of goods and services from producer to consumer. Businessman regards marketing as a management function to plan, promote and deliver products to the clients or customers. Human efforts, finance and management constitute the primary resources in marketing.

Audience : This essay is written in easy and simple words for school, college and university students.

List of Essays on Marketing for School, College and University Students

Essay on marketing – (1500 words).

Marketing is a comprehensive term and it includes all resources and a set of activities necessary to direct and facilitate the flow of goods and services from producer to consumer. Businessman regards marketing as a management function to plan, promote and deliver products to the clients or customers. Human efforts, finance and management constitute the primary resources in marketing.

Marketing starts with identification of customer’s wants and then satisfying those wants through products and services. The modern concept of marketing is customer-oriented and focuses on earning profit through customer satisfaction.

Prof. Drucker states that the first function of marketing is to create a customer or market. Customer is the most important person in the whole marketing process. He is the cause and purpose of all marketing activities.

According to Philip Kotler, “Marketing is a human activity directed at satisfying needs and wants through exchange process.” All marketing activities are basically for meeting the needs of customers and also raising social welfare. We have twin activities which are most significant in marketing- (a) Matching the product with demand, i.e., customer needs and desires or target market, (b) The transfer of ownership and possession at every stage in the flow of goods from the primary producer to the ultimate consumer.

According to William Stanton, “Marketing is a total system of business activities designed to plan, price, promote and distribute want-satisfying products to target markets to achieve organisational objectives.”

The American Marketing Association defines marketing as the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives.

Paul Mazur defined marketing as the creation and delivery of a standard of living to society. This definition catches the real spirit of the marketing process. It has consumer- orientation. It duly honours the marketing concept which indicates a shift from product to customer-orientation, i.e., fulfillment of customer needs and desires. It emphasises the major function of marketing, viz., satisfaction of customer and social demand for material goods and services.

Example- In the case of oral care products, currently only 47 per cent of the rural population use toothpaste, 23 per cent use tooth powder and the rest neither. Targeting non-users in rural areas and developing awareness about oral hygiene and converting them to tooth powder/toothpaste users.

Features of Marketing :

1. Marketing activities are aimed at satisfying the needs and desires of consumers and therefore, finding out consumer needs and wants is the starting point for all marketing activities. It starts with consumers and ends with consumers by satisfying their needs.

2. Marketing is a continuous activity and the goods are manufactured and distributed to the consumers as per demand.

3. Marketing deals with exchange of goods and services with money as the medium of exchange.

4. Marketing concept has undergone changes over a period of time i.e., the recent one is the societal marketing concept which focuses on three factors- customer demand satisfaction, public interest and profitability.

5. Marketing creates time, place and possession utilities. The consumer is able to obtain the right product at the right time at the right place as and when he requires.

6. Production and marketing are related and production takes place based on the needs and expectations of the consumer.

7. Marketing facilities large-scale production, employment opportunities and social welfare.

8. Marketing is an integral part of business. The survival and growth of business depend upon the effectiveness of marketing operations in an organisation.

9. Marketing is an integrated process and is based on strategies and plans.

10. The long-term objective of marketing is profit maximization through customer satisfaction.

Modern marketing begins with the customer, not with production, sales, technological landmarks and it ends with the customer satisfaction and social well-being. Under market- driven economy, buyer or customer is the king. The marketer should find out what the consumers wish to purchase and how much they are willing to pay. The company should then decide whether the desired product can be produced and sold at the price consumers will pay and at a profit to the company.

Marketing covers the following:

1. Seeking- The purpose of seeking is to discover the customer and customer needs. The marketing opportunity is revealed through an analysis of the environment.

2. Matching- Marketing is a matching process. Customer demand has to be matched with organisational resources and environmental limitations, such as competition, government regulations, general economic conditions, and so on.

3. Programming- The marketing programme, called the marketing mix, covering Product, Price, Promotion and Place (distribution) strategies (4 P’s) will be formulated and implemented to accomplish the twin objectives of customer satisfaction and profitability.

Marketing is an ongoing process of- (1) Discovering and translating consumer needs and desires into products and services (through planning and producing the planned products), (2) Creating demand for these products and services (through promotion and pricing), (3) Serving the consumer demand (through planned physical distribution) with the help of marketing channels, and then, in turn, (4) Expanding the market even in the face of keen competition.

The modern marketer is called upon to set the marketing objectives, develop the marketing plan, organise the marketing function, implement the marketing plan or programme (marketing mix) and control the marketing programme to assure the accomplishment of the set of marketing objectives. The marketing programme covers product planning or merchandising, price, promotion and physical distribution.

Four basic approaches are commonly used to describe the marketing system:

1. Commodity Approach :

Under the commodity approach, we study the flow of certain commodity and its journey from the original producer right up to the final customer. In such a study, we can locate the centre of production, people engaged in buying and selling of the product, mode of transportation, problem of selling and advertising the product, problems of financing it, problems arising out of its storage and so on.

Through such an approach, we can find out the differences in marketing products, services and problems. Thus, we can have a fuller picture of the field of marketing. Marketing of agricultural products such as cotton, wheat, jute represent the commodity approach.

2. Functional Approach :

Under the functional approach, we concentrate our attention on the specialised service or functions or activities performed by marketers. The study of marketing functions (like, buying, selling, storage, risk-bearing, transport, financing, and providing information) represents the functional approach to the marketing system.

3. Institutional Approach :

Under the institutional approach, our main interest centres round the marketing institutions or agencies such as wholesalers, retailers, transport undertakings, banks and insurance companies etc., who participate in discharging their marketing responsibilities during the movement of distribution of goods. We try to find out how these various business institutions and agencies work together to form a total marketing system.

4. The Systems Approach :

A system is a set of interacting or interdependent components or groups co-ordinated to form a unified whole and organised marketing activities to accomplish a set of objectives.

In the model of systems approach we have:

1. Objective,

3. Processor,

4. Outputs, and

5. Feedback.

The system is designed to achieve objectives or goals according to a plan, which provides for the processing of inputs and the discharge of appropriate outputs. The objectives direct the process control monitors the process. Information feedback gives information from internal and external sources and it is the basis for future change in the system.

An open system has its own environment giving the inputs and accepting the outputs. Inputs are processed, producing outputs to meet the objective. The twin objectives of marketing system are customer satisfaction and profitability.

The systems approach provides the best model for marketing activity. It places emphasis on the inputs to the system and the outputs produced. It helps in the determination of marketing and corporate goals, and the development of marketing programmes and the total marketing mix.

Adoption of a systems approach provides a good basis for the logical and orderly analysis of marketing activities. It stresses marketing linkages inside and outside the firm. It emphasises changing environment. It provides a framework for control. It depends on using the right information. Markets can be understood only through study of information.

The output establishes the purpose or objective of a system. The objective is profits through serving the demand of consumers and community. The output of marketing system is sales of goods. Correct inputs must be available to the processor i.e., marketing administration in order to produce desirable outputs.

These inputs in the marketing system are the elements of marketing-mix and the target market determined through marketing research. The marketing system must operate as per plans and policies and within control which may be internal or external. Of course, feedback must be available for introducing corrections in the future plans and marketing operations.

The flow of information required to check performance is called feedback. Feedback ensures the accomplishment of objectives through continuous marketing managerial process of planning-action-control. Marketing environment can be broken down into a number of layers. The inner layers become the subsystems of the outer layer. Output from one layer becomes the input for the next.

Marketing plan is a system and its parts or components are subsystems. There are four components or subsystems of marketing plan or marketing-mix- (1) The product management system to manage products from introduction to market withdrawal, (2) Channel and physical distribution system to manage distribution channels and the flow of goods to the market, (3) Promotion system to coordinate all means of promotion to stimulate demand, and (4) Price system designing prices for a line of products sold to customers under different selling conditions.

Marketing management revolves around these four areas of marketing- mix or plan. Marketing information system provides data for decision-making in all marketing areas or problems. It is also a part of marketing system.

The systems model (plan-inputs-processing-outputs-feedback-environment) placed emphasis on the inputs of resources as per plan, discharge of outputs and marketing information flow. It enables the determination of goals as well as development of strategies and programmes to achieve those goals through feedback control mechanism.

Essay on Marketing – 2 (1000 Words)

Traditionally, marketing has been defined as follows – “Marketing includes all activities that direct the flow of goods and services from the producers to the consumers or users.” This definition is product oriented as it does not consider the needs of the customers. It emphasises sale of goods produced by the producer and thus considers marketing in a narrow sense of ‘telling and selling’.

Modern definitions of marketing are based on the philosophy that “Satisfaction of customers is the basic purpose of business”. According to Philip Kotler, “Marketing is a social process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others”.

This implies matching of products with what is demanded in the market. This requires determining the requirements of potential customers and then developing and supplying those products which meet their requirements. If a business produces the products to satisfy the requirements of customers, it is more likely to be successful in achieving its objectives.

Definitions of Marketing :

Traditional Definition:

Marketing is a social process by which products are matched with markets and through which the consumer is able to use or enjoy the product. It makes goods and services more useful to the society by creating place, time and possession utilities. —Cundiff and Still

Modern Definition:

Marketing is a social process by which individual and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others. —Philip Kotler

The present day marketing is consumer oriented rather than product oriented. Product planning, pricing, promotion and distribution are so organised that the needs of the customers are satisfied fully. In the words of Stanton, “Marketing is a total system of interacting business activities designed to plan, price, promote and distribute wants satisfying products and services to present and potential customers”. Consumer oriented marketing ensures that all business activities revolve around the customer.

The essential elements of marketing are as follows:

(i) Two Parties:

There are at least two parties – buyer or customer on the one hand, and seller or marketer on the other.

(ii) Exchange of Value:

Exchange of goods and services between the seller and the buyer takes place for a valuable consideration. In other words, the parties have something viewed valuable by each other. That means the buyer can offer value and the seller can offer goods which are perceived to be of value by the buyer.

(iii) Freedom:

The parties are free to interact and accept or reject the offer of each other.

(iv) Satisfaction:

Marketing satisfies the needs of both the parties. The consumers gets want satisfying goods and services and the seller gets value in terms of money for his offering.

Marketing as a Process of Managing Profitable Customer Relationships :

According to Philip Kotler, “Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.”

Globalisation and rise of information technology (IT) have increased the expectations of customers. They don’t buy products or brands, but ‘a set of benefits or values’. They expect marketers to be concerned with their total satisfaction. The marketers association with the customer continues even after the sale of the product and this is what is called relationship marketing.

Thus, marketing is a process consisting of the following interrelated elements:

(i) Understand the market and customer needs and wants.

(ii) Design the product to satisfy customer needs and wants.

(iii) Develop an integrated marketing program that delivers superior value to the customer.

(iv) Build profitable relationships with, customers and offer ‘customer delight’.

(v) Capture value from customers to create profits and customer equity.

Marketing enables people to satisfy their needs and wants through exchange relationships. Exchange is the act of obtaining a desired product (or benefit) from a company by offering money value in return. Marketing also involves actions taken by the marketer to build and maintain desirable exchange relationships with target customers.

Marketers try to build strong relationships by consistently delivering superior customer value. Besides attracting new customers, they also try to retain the existing customers. These are the two basic goals of modern marketing.

The key to building lasting customer relationships is to create (i) superior customer value, and (ii) satisfaction. A customer buys from the firm that offers the highest customer perceived value, i.e., the customer’s evaluation of the difference between all the benefits and all the costs of a market offering (i.e., product) relative to those of other firms. Many people prefer to buy sweets from Haldiram’s store as compared to other sweet shops because of higher perceived value.

Market and Related Concepts :

Traditionally, the term ‘market’ refers to the place where buyers and sellers meet for exchange of goods and services. It is in this sense that we refer to Chandni Chowk Market, Kamla Nagar Market, Janpath Market and other markets in Delhi. The buyers go to the market to purchase the goods of their choice.

These days the term ‘market’ has acquired a broader meaning. If refers to actual and potential buyers of a product or service, whom the sellers can approach through various means of communication and transport.

For example, a marketer can approach prospective buyers through web advertising and a customer can purchase goods from his residence or office by placing order on telephone or cell phone or using internet and e-mail. Physical meeting between the parties to buy and sell is not necessary.

Customer Needs, Wants and Demands :

Marketing begins with human needs and wants. Needs are feelings of deprivation of some satisfaction. People need food, air, water, clothing and shelter to survive. These needs exist in the very nature of human biology and marketers do not create them. Wants are desires for satisfaction of needs. Human needs are few but wants are many. Human wants are continually shaped and reshaped by families, social institutions and cultural factors.

Demands are wants for specific products and services. They are backed by the ability and willingness to buy. Wants which are supported by purchasing power become demands. Marketers influence wants and demands by making products attractive, affordable and easily available to the target group of consumers. For example, a marketer might promote the idea that a certain brand of pen (e.g., Parker) would satisfy the need for social status.

Essay on Marketing – 3 (700 Words)

Marketing starts with identifying customer needs and wants and ends with satisfying them through a coordinated set of activities that also allows a firm to achieve its own goals. Awareness of this fact gave rise to the marketing concept. The marketing concept embraces all the activities of a firm. It aims at matching the company’s offering with customer needs, to achieve the desired level of customer satisfaction and generate profits for the company.

The marketing concept is based on the beliefs that are as follows:

(a) The company’s planning and operations are customer-oriented,

(b) The goals of the company should be profitable sales volume and not just volume, and

Cundiff and Still, “marketing is the business process by which products are matched with market and through which transfer of ownership affected”.

Tousley, Clark and Clark “marketing consist of those efforts which affect transfer of ownership of goods and services and provide for the physical distribution”.

H.L. Hansen Marketing is the process of discovering and translating consumer needs and wants into products and service specification, creating demand for these products and services and then turns expanding this demand.

According to American Marketing Association, ‘marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals.

Marketing is defined as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”.

The term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. Seen from a systems point of view, sales process engineering views marketing as “a set of processes that are interconnected and interdependent with other functions, whose methods can be improved using a variety of relatively new approaches.”

The Chartered Institute of Marketing defines marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably”.

Marketing is used to create the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Managerial Definition :

As a managerial definition, marketing is described as “the art of selling products”. But Peter Drucker, a leading management theorist, says that “the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy”.

Traditional and Modern Concepts of Marketing :

Old or traditional concept of marketing was limited up to profit generation by high volume of sales and production of products at a large scale, how to distribute products from producers to customers in an efficient manner. Marketing activities were concentrated toward selling; later on with rise of competition marketers gave more emphasis to promotion activities to increase their market share and profitability. Salesmanship and product promotion were the main part of marketing policy of a business firm.

Modern concept has shifted from selling to customer satisfaction, modern marketing concept aim at how to understand a customer in a better way it is possible by exploring customer’s want and expectations and marketing behaviour. Products manufactured by firms should match with the demand and expectation of customers.

Under marketing concept a customer should be ready to buy the products on his own initiative, how to create demand in market by customer satisfaction is the main essence of modern concept. Now customer is well aware about his rights, quality and customer services, therefore marketing should be customer oriented, a strong communication network is needed to build high brand equity and goodwill in market.

Marketing is an important functional area of business which generates revenues through the sale of satisfying goods and services to the customers. It involves taking decisions in the areas of product, price, place and promotion keeping in view the requirements of the customers business. In this article, the nature of marketing management, implications of modern marketing concept, objectives of marketing, distinction between marketing and selling and also the tools of marketing mix.

Short Essay on Marketing – 4 (400 Words)

Marketing is the process by which companies determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development.

It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Marketing is used to identify the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. The evolution of marketing was caused due to mature markets and overcapacities in the last 2-3 centuries. Companies then shifted the focus from production to the customer in order to stay profitable.

The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.

Marketing is defined by the American Marketing Association AMA as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”

The Chartered Institute of Marketing defines marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” A different concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value.

In this context, marketing is defined as “the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage.”

Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. However, because the academic study of marketing makes extensive use of social sciences, psychology, sociology, mathematics, economics, anthropology and neuroscience, the profession is now widely recognized as a science, allowing numerous universities to offer Master-of-Science (MSc) programmes.

The overall process starts with marketing research and goes through market segmentation, business planning and execution, ending with pre and post-sales promotional activities. It is also related to many of the creative arts. The marketing literature is also adept at re-inventing itself and its vocabulary according to the times and the culture.

Essay on Marketing – 5 (1000 Words)

Marketing as a term is widely used in the management of a business and in our day- to-day life. In the era of customer and competition driven business world, marketing is not just the domain for the marketing department in a company. It’s a philosophy; it’s a business orientation now. It is imbibed in the corporate vision and mission of the successful companies.

All the successful companies in India like Tata, Reliance, Mahindra, Bharti Airtel, Maruti, Birla, Bajaj, Dabur, Patanjali etc., are thriving by understanding and delivering value to the Indian consumers to serve them in a better way than their competitors.

“Marketing is a process of exchange through which needs and wants are satisfied”, so can be the definition of markets given by Philip Kotler is paraphrased.

A better explanation can be given-

“Market is not merely spatial in nature; the buyers and sellers constitute the market, even though not face-to-face. Marketing involves not merely selling but reaching out customers to sell things they want. Thus product- mix, price-mix, distribution-mix and promotion-mix are the four corner stones of marketing. Even consumption patterns and the dictates of consumers are a part of the marketing strategy and then we have to include the policies relating to taxes and subsidies and/or regulations as they affect the product, price, distribution and promotion mixes.”

Another famous name in marketing Peter Drucker emphasized that marketing issues permeate all areas of the enterprise.

There are four most important aspects of marketing and they are:

1. Choosing the product mix;

2. Choosing the price mix;

3. Planning the distributional network; and

4. Market promotion.

These are also known as four Ps [product, price, place (distribution) and promotion], “Consumer is the king” (meaning consumer dictates and is always right) has given way to “consumer is the queen”, (meaning thereby that decision are taken by the lady of the house), are the sayings that give guidepost for developing marketing. There are firms, institutions, persons and governments involved in marketing. There are historical stages of marketing.

Rudimentary barter system is exchange of “commodities with commodities” (we should not call “goods” with “goods” from the “secondary/manufacturing” sector.) By the time there is trading in “goods”, barter system gets superseded. Rural marketing in India still has a good-sized component of the barter economy. Vegetables, edible oil, pulses, milk-products and food grains are taken and given in barter in rural areas.

Transitional stage and concurrent stage between barter and monetised exchange exists (as in India even in the 21st Century). As specialisation and industrial activities develop, barter gives way to exchange with money. However, rural areas continue to have barter transactions. (Some kabaadies in India who recycle the wastes of the households as non-functional fans, old newspapers to n number of things sometimes offer double trade e.g., give anything @ Rs. 15/- and make the payment adjusted against the junk that will be taken by them.

All types of modern markets with their spatial ramifications develop in the developing economy as in India.

Fully modern marketing system will have to satisfy two conditions:

1. There is no barter there, and

2. Even plastic money (credit/debit cards) is used.

Micro-management of marketing is not concerned with increasing the purchasing power.

Macro-management of marketing should aim at various things like:

1. Laying down rules and regulations for all types of marketing;

2. Selling “social marketing” of such ideas as of family planning and/or or advising persons how to save themselves from aids; or

3. Improving purchasing power or entitlements of all groups.

Marketing of primary, secondary and tertiary sector (services) follow one basic principle—how to optimise profits, if not maximise.

What is Marketing? – Definitions of Marketing:

The Chartered Institute of Marketing defines marketing as ‘The management process responsible for identifying, anticipating and satisfying customer requirements profitably’

Oxford Dictionaries define Marketing ‘as the process of performing market research, selling products and /or services to customers and promoting them via advertising to further enhance sales.’

Kotler Philip, Gary Armstrong, Veronica Wong, and John Saunders are of the view that ‘Marketing as an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.’ It generates the strategy that underlies sales techniques, business communication, and business developments.

Paliwoda, Stanley J and John K. Ryans believe in a different concept called the value-based marketing, which states the role of marketing to contribute to increasing shareholder value.

American Marketing Association’s (AMA) has defined as following:

‘Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.’

Above definition was applicable till Sept., 2007. Now with the ever changing business environment, the definition of Marketing also underwent a lot of change from Oct., 2007.

Now, AMA defines Marketing as:

‘Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.’

Marketing is not just an organizational function, but it is an activity and a set of institutions are involved. Now the customers, organisation and its stakeholders have also been rephrased as Customers, Clients, Partners and Society at large. Now Customer Relationship Management (CRM) is as important as Partner Relationship Management (PRM). Societal welfare is as important as the company’s welfare.

Panasonic’s ‘Eco Ideas’, Nokia’s ‘Take Back Campaign’, HP’s ‘Power to Change’ and Toyota’s initiative for Hybrid Green Vehicles are few examples of corporate initiative for the society at large.

Philip Kotler, a well-known authority on marketing has termed marketing as a ‘societal process by which individual and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.’ Marketing can also be said as the process of ‘satisfying needs and wants through an exchange process’.

In a simpler way, Kotler has defined Marketing in terms of CCDVTP, which means creating, communicating and delivering value to the target market at a profit.

Thus, Marketing is all about identifying and meeting human and social needs and that too in a profitable way. Ultimately, the objective of any business activity is to make profits.

On the whole, we can say that CCCCC STP PPPP encompasses all the aspects in marketing. Sounds confusing, let me clarify, Marketing is all about 5Cs, STP and 4Ps. 5Cs stands for Customers, Company, Competitors, Collaborators and Context. While STP stands for Segmentation, Targeting and Positioning; whereas 4Ps represent the Marketing Mix i.e. Product, Price, Place and Promotion.

Essay on Business Marketing – 6 (2500 Words)

Marketing plays a critical role in modern business practice, where maximizing shareholder value is an increasingly important goal. The essence of business marketing focuses on how firms attract, retain, grow customers — critical firm assets — by enhancing relationships with them.

Success in delivering customer value leads directly to improving shareholder value and long-run firm prosperity. In Essentials of Managing Marketing, we explore both the strategic aspects of marketing and the tactical implementation decisions marketers make every day. But first, we investigate two quite different but related meanings of marketing.

Marketing as a Philosophy embraces the view that marketing is the guiding force/orientation for the entire corporation. Firms with a marketing philosophy operate with an external orientation. Such firms focus attention, resources outside the corporation — to acquire, retain, grow customers — but take careful account of a range of external environmental forces.

By contrast, internally oriented firms focus on internal issues — products, services, processes. Essentials of Business Marketing embraces the marketing-as-philosophy perspective. The author believes, and has seen in his own career, how powerful and effective a business can be when the entire organization is attuned to the external world. Such agile firms not only sense critical environmental factors, but also adapt to address them.

Marketers must possess the tools/decision-making skills to get the marketing job done. Effective marketers focus on six marketing imperatives. Marketing Imperatives describe the specifics of the marketing job. For executives with marketing/ product-management titles, these imperatives are the must-dos of marketing.

We identify two groups:

1. Strategic Marketing:

Imperative 1-Determine, recommend which markets to address.

Imperative 2- Identify, target market segments.

Imperative 3- Set strategic direction, positioning.

2. Implementing Market Strategy:

Imperative 1- Design the market offer.

Imperative 2- Secure support from other functions.

Imperative 3- Monitor and control execution/ performance.

To broaden this framework, four marketing principles form the basis for marketing decision-making.

These principles act as guidelines for executing the six imperatives:

Principle 1- Selectivity, Concentration

Principle 2- Customer Value

Principle 3- Differential Advantage

Principle 4- Integration

What is Marketing?

Marketing is often confused with advertising and sales. Even many executives are unclear. It seems so intuitive; can’t anybody be a marketer? Marketing is the firm’s fundamental activity. When marketing delivers value to satisfy customer needs, the firm attracts, retains, grows customers, in the face of competitors trying to do the same thing. If costs are in line, profits follow. Profits help the firm survive as an independent entity, secure resources to grow, enhance shareholder value.

Business Marketing’s role includes identifying opportunities; figuring out customer needs; understanding competition; developing appealing products/services; communicating/distributing value to potential customers. When the firm does a good job of completing these tasks, shareholder value increases. Example- Flipkart — successful e-commerce firm — co-founder Sachin Bansal emphasizes that focus on customer satisfaction and owning the entire customer experience has benefited his firm.

The critical weapon in the battle for customers is straightforward in concept, but may be complex/ difficult in execution. The firm must deliver customers greater value than competitors deliver. Customers reward such firms by purchasing their products/services, today and tomorrow. This exchange is the basis of all markets.

The late Peter Drucker, preeminent management theorist, is generally credited with developing the customer orientation and modern marketing perspective. Drucker stated, “If we want to know what a business is, we have to start with its purpose. There is only one valid definition of any business purpose — to create a customer. It is the customer who determines what a business is.

For it is the customer, and he alone, who through being willing to pay for a good or service, converts economic resources into wealth, things into goods…. Because it is [the purpose of a business] to create a customer, [the] business enterprise has two — and only these two — basic functions- marketing and innovation.”‘

Business Marketing and Shareholder Value :

The central focus on shareholder value is deeply rooted in many capitalist countries. The shareholder- value perspective defines managements job as maximizing returns for firm owners — shareholders.

In addition to shareholders, the firm has many other stakeholders — management, labor, public at large. In some capitalist countries, these stakeholders are more favored than shareholders. Indeed, in these countries regulations generally favor managers, and protect them from unwelcome mergers/acquisitions. Regardless, in recent years, developing global capital markets have favored the shareholder-value perspective.

Customers are the sole source of firm revenues; all firm activities are costs of attracting, retaining, growing customers. Unfortunately, managers sometimes forget this fundamental truth. Customers provide revenues/cash flow when they believe firm products/services offer better value than competitive alternatives.

Marketing as a Philosophy- External, Internal Orientations :

The firm enhances shareholder value by attracting, retaining, growing customers. At a philosophical level, each employee has some responsibility; marketing is everybody’s business.

To quote Drucker again, “Marketing is so basic that it cannot be considered a separate function within the business … it is, first, a central dimension of the entire business. It is the whole business … seen from the customers point of view. Concern and responsibility for marketing must, therefore, permeate all areas of the enterprise.”

David Haines, former brand czar at Vodafone, echoed Drucker- “Marketing is too important to be left to the marketers. It’s the obligation of every single individual in the company, whether you’re a phone operator, the CEO, or anyone else in the company.” To put it more crassly- If marketing is unsuccessful, nobody gets a paycheck!

Marketing as a philosophy concerns the firms entire orientation; such firms operate with an external orientation. The externally oriented firm looks outward to the environment; it knows that customers are central to its future. Other firms focusing on internal business drivers have one of several internal orientations-, delivering customer value takes a back seat.

i. External Orientation:

The externally oriented firm knows its current products/services/processes are the reasons for past/ present success. This firm also knows that, as the external environment evolves, its products/services/ processes must also change. The externally oriented does not fear change. This firm goes beyond a customer focus; it works hard to understand competitors markets, other environmental forces. This firm invests in new capabilities/competencies to exploit opportunities for attracting, retaining, growing customers. P&G spends over $400 million annually seeking customer/market insight.

In difficult economic times, when profits are under pressure, many firms cut spending/investment; but the externally oriented firm increases investments — human capital, marketing budgets, mergers, acquisitions. Example- In recent recessions, Amazon, Cisco, Coca-Cola, Intel, Tata Consultancy Services invested heavily; they swept past more internally oriented competitors.

ii. Internal Orientations :

Internally oriented firms place internal business considerations ahead of customer focus.

The orientations are:

1. Operations Orientation:

It overemphasizes improving efficiency, reducing costs. There is nothing inherently wrong with such actions; by contrast, cost reduction should not be a priority when the firm offers new products/services, enters new markets, or otherwise should invest to attract, retain, grow customers.

2. Sales Orientation:

It focuses on short-term sales revenues. The firm is less concerned with profits. Characteristic actions to secure sales- Prices set too low, unsustainable discounts, loose credit terms, excessive product variations. The firm spends little effort on marketing research, planning; targets customers indiscriminately.

3. Finance Orientation:

It focuses too heavily on short-term profits. When a firm manages by the numbers, it tends to avoid expenditures for long- term payoff. The finance-oriented firm mortgages its future by indiscriminately cutting back — advertising, capital investment, R&D, talent.

4. Technology Orientation:

It focuses on R&D, but pays insufficient attention to customer value. First- class products are critical for attracting, retaining, growing customers, but for this firm technology is more important than customers.

The Six Marketing Imperatives :

The job of putting the firms marketing philosophy into practice normally falls to marketing professionals. These people engage in many activities; they must make decisions on how to allocate their time/other resources.

The critical question- Are we doing the right things to attract, retain, grow customers? Put another way- Are we implementing the six marketing imperatives — the firm’s must-dos. Imperatives 1, 2, 3 focus on strategic marketing; imperatives 4, 5, 6 zero in on implementing market strategy.

Imperative 1- Determine, Recommend Which Markets to Address :

The firm must answer critical questions about its business, market portfolios:

i. In which new businesses/markets shall we invest — people, time, dollars?

ii. From which businesses/markets shall we withdraw?

iii. In which current businesses/markets shall we continue to invest?

iv. How much investment shall we make in these various businesses/markets?

Marketing plays two key advisory roles. First, identify opportunities. Marketing is the only function with explicit responsibility to focus attention externally on the market, customers, competitors — outside the firm. Marketing personnel should research the environment to identify potential opportunities, then bring these to top management for go/no-go decisions.

Second, advise on proposed strategic actions. Many parts of the firm develop strategic initiatives. Marketing has the responsibility to insert itself into key decisions — collecting, analyzing relevant data — bearing on market entry/exit. Marketing should fully explore the ramifications of potential firm actions, or disaster may ensue.

Imperative 2- Identify, Target Market Segments :

Marketing must identify market segments — groups of customers with similar needs that value similar benefits with similar priority orders. Once the firm has identified market segments, it must decide which to target for effort. Effective segmentation and targeting are critical for delivering customer value and driving sales, profits.

Imperative 3- Set Strategic Direction, Positioning :

The firm decides how to compete in those market segments it has targeted. For each target segment, marketing must formulate performance objectives, then decide on firm positioning in each segment — target customers, target competitors, value proposition, reasons to believe. Together with Marketing Imperative 2, positioning completes the STP triumvirate — segmentation, targeting, positioning.

Typically, individual market segments are at different developmental stages; hence they require different approaches. Finally, decisions about strategic direction must include questions about branding. The firm must continually assess strategic direction and make necessary course corrections.

Imperative 4- Design the Market Offer :

The market offer is the total benefit package the firm provides customers. Tools for designing offers are the most well-known part of marketing.

The marketing-mix elements — aka 4Ps — comprise the basic building blocks:

i. Product:

Generally, the product embodies major benefits the firm offers to satisfy customer needs — these benefits provide customer value. Product comprises both physical products and intangible services.

ii. Promotion:

Embraces various ways the firm communicates with customers — informing, persuading customers to purchase (or recommend) its products. Core promotional elements include mass communications — advertising, publicity & public relations; digital marketing; personal communications — sales force.

iii. Distribution:

Focuses on how, where customers secure the product (aka place).

The firm establishes its feasible price by the equivalent amount of value it offers customers via product, promotion, distribution.

Imperative 5- Secure Support from Other Functions :

Functional areas must work together to ensure the firm designs and executes the right market offer.

Business marketing requires two very different types of support:

i. Support for design — relates to technical, operational, economic feasibility. This support requires keeping the firm focused on satisfying customer needs and pushing specific functions to encourage evolving their capabilities.

ii. Support for implementation — assumes the firm has agreed upon/fixed the design. Marketers must possess the leadership/interpersonal skills to secure cooperation across multiple functions — internal marketing, getting buy-in.

Imperative 6- Monitor and Control Execution/Performance :

Is the firm achieving desired results? If results are not on track, what changes should the firm make?

Marketing is a key stakeholder in securing answers to three questions; it should act appropriately based on the answers:

i. Are various functions/departments implementing the market offer?

ii. Is market/financial performance reaching planned objectives?

iii. Based on current environmental realities, are objectives, strategies, implementation plans on track? Should the firm make changes?

Four marketing principles serve as guidelines for executing the six imperatives:

Principle 1- Selectivity, Concentration :

Providing advice on market selection — Imperative 1 — and deciding which market segments to target — Imperative 2 — are among marketing’s primary responsibilities.

Underlying these imperatives is the-

i. Selectivity- Carefully choose targets for firm efforts.

ii. Concentration- Concentrate resources against those targets.

This principle is about choosing the firm’s battles. It is dangerous to dissipate limited resources over too many alternatives by trying to do too much. No organization, no matter how large or how successful, has infinite resources.

Some experts re-label this principle Concentration and Concession. Not only must the firm concentrate resources, it should affirmatively decide where it does not want to compete.

Principle 2- Customer Value :

Market success depends on providing value to customers. This principle is central to the marketing job. Customer insight should drive design, implementation of market offers, product/investment decisions, and performance evaluations. The firm develops, produces, delivers products/services, but customers perceive value only in the benefits these products/ services provide.

Customer value is a moving target. As the environment evolves, customers accumulate experience; the needs and benefits they seek evolve also. World-class companies continuously invest in marketing research to probe deeply into customer needs, priorities, expectations, and experiences. They feed these results into the product development process to generate greater value for customers.

Firms that take their eye off the customer ball can get into serious trouble. Shoppers Stop, Aditya Birla Retail, Reliance Retail have closed many unprofitable stores in recent years.

Principle 3- Differential Advantage :

Closely related to the Principle of Customer Value; differential advantage lies at the heart of every successful market strategy —the firm should offer customers something they value, but cannot get elsewhere. Differential advantage is similar to competitive advantage, unique selling proposition, having an edge.

To implement this principle, the firm must develop well-designed market offers, based on the marketing-mix elements, and secure buy-in from other functions.

i. Competition:

Offering customer value is not enough. To avoid competitive parity, the firm must offer greater value than competitors. The firm must create/recreate differential advantage to beat competitors.

ii. Superiority:

Some differential advantages are better than others. Differential advantage based on proprietary intellectual property, unique product design, product availability may be more sustainable than differential advantage based on communications.

A differential advantage based on an organizational process like parts delivery, qualified technicians may be even more sustainable.

iii. Erosion:

Competition will eventually erode even the apparently most sustainable differential advantage. Maintaining differential advantage is marketing’s most fundamental challenge; the search for differential advantage must be continuous.

iv. Cannibalization:

To stay ahead of competition, the firm must be willing to cannibalize its own offers. Many firms will not do so — in part because of strong political constituencies for the status quo; in part because profit margins may be lower. Such unwillingness to act runs the risk of missing opportunities, passing market initiative to a competitor.

v. Differential Advantage and Difference:

A differential advantage is not the same as a difference. Developing a different market offer may not be difficult. Differential advantage must create benefits/values customers recognize, and are willing to pay for.

Principle 4- Integration :

This principle has two dimensions:

i. Customer:

The firm must carefully integrate and coordinate all design and execution elements it offers customers. Poor advertising can ruin an excellent product; delayed promotional materials can doom product launch; improper pricing can cause havoc with sales forecasts.

The firm must carefully integrate/coordinate all internal activities. Different functions/departments must work together; they must avoid squabbles over priorities, turf wars, ambiguous messages by senior managers. Firms with an external orientation are more likely to achieve integration; employees, departments, businesses share a common purpose — serving customers. Sharing responsibility for designing, implementing market offers drives agreement on priorities and close/cooperative working relationships.

Essay on Marketing Topics – 7 (1900 Words)

Marketing refers to a social process by which individuals and groups obtain what they need and want through creating, offering and exchanging products and services of value freely with others. It is the sum-total of all the activities that facilitate flow of goods and services from producers to the ultimate consumers.

In simple words, marketing involves study and management of exchange relationships. It is used as a tool by business to create the customer, to keep the customer and to satisfy the customer.

Marketing is concerned with all the activities of a company which are associated with buying and selling of a good or a service. It involves activities that aim at making people aware of the company’s goods or services and making sure that these are available to be bought and availed respectively.

Marketers are involved in marketing various types of entities like goods, services, experiences, events, persons, places, properties, organisations, information and ideas. Marketing is an ongoing communication exchange with customers in a way that educates, informs and builds a relationship over time.

It is the process by which a firm profitably translates customers’ needs into revenue. It also involves building a brand and convincing people that a particular brand is the best.

It aims at satisfying the needs and wants of the customers and thereby retaining them for the longest possible period of time. Marketing attracts consumers’ scarce resources, attention and disposable income to derive profitable revenues.

It is the process of getting a product or service from a company to its end-customers from product development through to the final sale and post purchase support.

Essay Topic # 1. Definition of Marketing:

Some Important Definitions of Marketing:

Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. —American Marketing Association (AMA)

Marketing is the science and art of exploring, creating and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. If defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best, and it designs and promotes the appropriate products and services. —Philip Kotler

Marketing is a management activity that identifies, anticipates and satisfies customer requirements efficiently and profitably. —Mark Gwilliam

Marketing is the management process for identifying, anticipating and satisfying customer requirements profitably. —Chartered Institute of Marketing

Marketing is the business process by which products are matched with the markets and through which transfers of ownership are affected. —F.E.Clark

Marketing is that phase of business activity through which the human wants are satisfied by the exchange of goods and services. — J.F.Pyle

Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. — Philip Kotler

Essay Topic # 2. Nature of Marketing:

(i) Customer Focused – All marketing activities should be customer oriented. They should start with identifying the customer’s needs, followed by developing products, pricing it, promoting it and distributing it as per the customer’s requirements.

(ii) Integrated Process – Being an integrated process, marketing involves coordination of many activities with other business functions like production, personnel, financing, research and development.

(iii) Multi-Disciplinary – Marketing is multi-disciplinary as it has evolved out of commerce and has got its strength from law, psychology, sociology, mathematics and statistics. It is an art as well as a science.

(iv) Interaction with External Environment – It operates within the framework of external environment which comprises of economic, natural, social, legal, political environment etc.

(v) Mutually Beneficial Exchange – It means buyers get want-satisfying goods and sellers get value in exchange of their goods leading to mutual benefit to both the parties.

(vi) Based on System Approach – It is based on system approach as it requires intelligent coordination of four ‘P’s of marketing mix. These are Product, Price, Place and Promotion.

Essay Topic # 3. Importance of Marketing:

(i) It is the beating heart of a business organization – Being the revenue producing department, it is a very important function of management.

(ii) It facilitates creation of place, time and possession utility – As creating these utilities help a marketer to achieve success in the business.

(iii) It helps in improving the standard of living of the people – This is done by offering wide variety of goods and services to the people.

(iv) It generates employment – A large number of people are employed by marketers to carry out various functions of marketing.

(v) It leads to economic development of the nation – It mobilises untapped resources and facilitates full utilisation of production capacity and other assets and hence leads to economic development of the nation.

Essay Topic # 4. Modern Marketing:

The Present Day Marketing is Customer Driven:

Business must find out what the consumers want and then produce goods according to the needs of the consumers. What is offered for sale should be determined by the buyer rather than by the seller. Instead of trying to market (sell) what is easiest for us to make, we must find out much more about what the consumer is willing to buy.

Under consumer-oriented marketing it is highly essential to know what the consumers really want. This is possible only when information is collected from the consumers.

Marketing research and Marketing Information Systems are now-a-days full-fledged functions of marketing. All organisations accept that the marketing activities must start far ahead of production. The company must appreciate and understand the consumers’ strategic position as a determinant of the firm’s survival and growth.

This philosophy of marketing means that the entire marketing is designed to serve consumer needs. The marketing man is introduced at the beginning rather than at the end of the production cycle and marketing is integrated at each phase of the business.

Thus, Marketing, through its studies and research will determine for the engineer, designer and the manufacturing manager, what the consumer wants in a given product, what price he is willing to pay and where and when it will be wanted. The launch of the ‘Nano’, a small car for the common man of India at an affordable price is a glaring example of this statement, i.e., the present day marketing is customer driven.

Marketing Begins before Production and Continues after Sale:

Marketing is an organizational function which includes a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

By stating definition of marketing itself, it becomes clear that marketing also deals with the creation of a product. It is done by means of proactive marketing, i.e., focussing on customers’ latent needs. For this the process of Marketing Research is applied. These days the companies’ strategies have shifted from “make-and-sell” philosophy to “sense-and-respond” philosophy.

In order to identify the needs of customers various surveys are conducted, pilot studies are done. The respondents are not just prospective customers but also front line executives, since they know a lot about the needs of customers.

At each stage of new product development, marketing has a key role to play.

Marketing after sales – Making a new customer is costlier than retaining an old one. Therefore, it is necessary to keep the customers not only satisfied, but rather delighted. This can be done through customer relationship management, where marketers can offer to provide after sales-services, warranties, guarantees, product resale offers, discounts on next purchase etc.

Marketing Creates Value for Customers and Builds Profitable Customer Relationships and Captures Value from Customers in Return:

“Marketing creates value for customers and builds profitable customer relationships and captures value from customers in return.” This statement very aptly describes the essence of marketing in modern scenario. It is a two way process of creating value for customers by offering high quality products in exchange of a price which acts as value from the customers.

It is a mutual beneficial activity where focus is on building and maintaining long-term profitable customer relationships. Today’s successful companies are strongly customer focussed and heavily committed to marketing. They share passion for understanding and satisfying customers’ wants and make a sincere effort to provide solutions by coming out with innovative products.

For example – Procter & Gamble, one of the world’s largest and most respected marketing company creates value for customers by offering innovative products like Tide, Pantene, Gillette, etc. which are widely accepted by customers and in return Procter & Gamble gets rewarded with brand loyal customers.

Similarly, Philips is another company which is always striving to come out with novel solutions for existing problems and produces high quality innovative products like ‘Air Fryer’, ‘Electric Shaver’, etc. They too are rewarded by customers in return with strong loyalty and quick purchases of their products.

Modern Marketing is an Integrated Process of Identification, Assessment and Satisfaction of Human Wants:

The modern marketing concept enunciates that business is essentially a ‘need-satisfying process’ and that any business must be managed keeping the consumer and his needs as the main focus.

All goals of business including profit must be realised through consumer orientation, integrated management action and generation of consumer satisfaction. Matching products with the market implies determining the requirements of potential customers and designing products that satisfy these requirements.

Thus, modern marketing is the integrated process of identification, assessment and satisfaction of human wants. The focus is on the customer and his wants. It is the process of discovering and translating consumer wants into products and services and then in turn making it possible for more and more people to enjoy more and more of these products and services.

Concern for customers’ needs and wants increases the acceptability of the product. When a firm produces the product which meets the requirements of the customers, the need for promotion is reduced. It ensures continuous patronage of customers.

Unification of business activities leads to economy and efficiency in marketing operations. The systems approach to marketing facilitates a rational analysis of all marketing problems along with their effective solutions.

It helps the management to direct organisational effort towards the long-term and wider goals like stability and growth of the firm. Sustained interaction with customers becomes possible.

It is the management orientation that holds that the key task of the organisation is to determine the needs, wants and values of a target market and to adapt the organisation to deliver the desired satisfaction more effectively and efficiently than its competitors.

Thus, modern marketing is an integrated process of identification, assessment and satisfaction of human wants.

Modern Marketing Concept is Applicable to All Business Organisations Irrespective of their Size, Nature or Functionality:

The adoption and use of modern marketing concepts have various benefits for any company irrespective of their size, nature or functionality.

Some of the benefits are listed below:

(i) Concern for customers’ needs and wants rather than itself product increases the acceptability of the product.

(ii) Marketing concept requires an integrated and coordinated approach to marketing. Hence all the business activities are focussed towards a single organisational goal.

(iii) Marketing concept is a system approach to marketing. It facilitates a rational analysis of all marketing problems along with their effective solution.

(iv) A business firm pursuing Marketing concept can respond effectively to the changes occurring in the marketing environment.

(v) Marketing concept has a strategic and philosophical value. It helps the management to direct organisational efforts towards long term and wider goals.

Essay on International Marketing
Essay on Marketing Environment | Company

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Essay on Marketing: Top 9 Essays on Marketing

Essay on‘Marketing’. Find paragraphs, long and short term papers on ‘Marketing’ especially written for school and college students.

Essay on Marketing

Term Paper Contents:

Essay on the Challenges and Opportunities of Marketing

Essay # 1. Introduction to Marketing:

Marketing is everywhere. Everything from presenting yourself for a job interview to selling your products includes marketing. Main objective of any company is to gain profits which can be achieved only through marketing of the products. Marketing enables the companies to create demand and earn profits. If these two aspects are not taken care of, then the company will not survive in the market.

“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders.” – (American Marketing Association)

“Marketing is a social process by which individuals and groups obtain what they need and want through creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” – (Philip Kotler)

Thus it can be safely said that a company reaches its customer through marketing and communicates to them about the products and services offered by the company.

Essay # 2. Evolution of Marketing :

In earlier days, an organization was mainly concerned with production of goods. It used to believe on mass production and paid less or negligible attention on quality of the product and the customer’s demand.

After some time, the focus of organization shifted from production of the product to the sale of the product. The concept of marketing emerged gradually in 1970’s after the production and sales era. It took many years for organizations to realize that a customer is the key for making profits in the long run. The marketing concept is evolved through various stages.

These stages are explained below:

1. Production Era :

The production era began with the Industrial Revolution in the 17th century and continued till 1920s. Say’s law – Supply creates its own demand – was applicable in this era. The demand for products was more than the supply in the market; thus, it was a seller’s market. In the production era, the main aim of an organization was to manufacture products faster and at low prices. In this era, customers were concerned only about the availability of products and no importance was given to features and quality of products.

2. Sales Era :

The sales era came into existence in 1920s and continued till the mid of 1950s. This era was marked by the great depression of 1923. The depression proved that manufacturing products was not everything because the sale of the products was also important for organizations to earn profit.

Thus, the need for developing promotion and distribution strategies emerged to sell products. The organizations started advertising their products to increase their sales. Many organizations created specialized market research departments to collect and analyze the prevailing market data.

3. Marketing Era :

The sales era merely focused on selling the goods and ignored the consumers’ needs and demands. The year 1970 marked the advent of marketing era. In the marketing era, organizations realized the importance of customers and started designing the products as per customers’ needs.

Therefore, the marketing era led to the development of customer-centered activities over the production and selling activities. Organizations came up with different techniques, such as customer survey, to collect and analyze data for understanding the customer’s expectations, needs, and wants.

Essay # 3. Approaches to the Study of Marketing:

The meaning of marketing is different to different people. In common parlance, marketing is the process of selling something at a market place. To a salesman it means selling whereas to an advertising manager it means advertising. To some it means the study of individual commodities and their movement in the market place, to some others marketing means the study of institutions and persons who move their products or study of the economic contributions.

Thus, there are different approaches to the study of marketing:

1. Commodity Approach:

The commodity approach focuses a specific commodity and includes the sources and conditions of supply, nature and extent of demand, the distribution channels used and the functions, such as buying, selling, financing, advertising storage etc. various agencies perform. Prof. Paul Mazur defined as “the delivery of a standard of living to society. Prof. Malcolm McNair expanded the definition to “the creation and delivery of a standard of living”.

2. Institutional Approach:

The institutional approach focuses on the study of various middlemen and facilitating agencies.

3. Functional Approach:

The functional approach considers different kinds of functions recognized for their repetitive occurrences and necessarily performed to consummate market transactions. Converse, Huegy and Mitchell define marketing as the “business of buying and selling and as including those business activities involved in the flow of goods and services between producers and consumers.” American Marketing Association, perhaps, gives more factual or descriptive definition. It defined marketing as the performance of business activities that direct the flow of goods and services from producer to consumer or user.

4. Managerial Approach:

The managerial approach concentrates on the decision making process involved in the performance of marketing functions at the level of a firm. Howard, Phelps and Westing and Lazo and Corbin are the pioneers of the managerial approach.

5. Societal Approach:

The societal approach consider the interactions between the various environmental factors (socio-logical, cultural, political, legal) and marketing decisions and their impact on the well- being of society. Kotler, Feldman and Gist, were the main proponents of the societal approach.

6. Systems Approach:

The systems’ approach is based on Von Bartalanffy’s general systems theory. He defined system as a “set of objects together with the relationships among them and their attributes”. This approach recognizes the inter-relations and inter-connections among the components of a marketing system in which products, services, money, and equipment and information flow from marketers to consumers that largely determine the survival and growth capacities of a firm.

7. Modern Concept:

The new managerial awareness and desire reflected in the consumer orientation for all all-out commitment to the market consideration and to connect all marketing operations to the consumer needs has given birth to a new operational concept. Felton views the marketing concept as “a corporate state of mind that insists on the integration and coordination of all marketing functions that, in turn, are welded with all other corporate functions, for the basic objective of producing maximum long-range corporate profits.

According to Kotler, the marketing concept is a customer orientation backed by integrated marketing aimed at generating customer satisfaction as the key to satisfying organizational goals. According to McNamara,” marketing concept is … a philosophy of business management, based upon a company- wide acceptance of the need for customer orientation, profit orientation, and recognition of the important role of marketing in communicating the needs of the market to all major corporate departments”.

Lazo and Cobin describe marketing concept as ” the recognition on the part of management that all business decisions of a firm must be made in the light of customer needs and wants; hence, that all marketing activities must be under one supervision and that all activities of a firm must be coordinated at the top, in the light of market requirements”. King has given one of the most comprehensive descriptions of the marketing concept. He defined it as, “a managerial philosophy concerned with the mobilization, utilization and control of total corporate effort for the purpose of helping consumers solve selected problems in ways compatible with planned enhancement of the profit position of the firm”.

These definitions suggest that marketing is only concerned with the movement of goods and services from the plant to the consumer. This is thus a production-oriented definition more appropriate for a sellers’ market and dangers in case of buyers’ market. In fact, marketing is related with the sophisticated strategy of attempting to offer what the consumer may want and at a profit.

Essay # 4. Objectives of Marketing:

According to Peter F. Drucker, “Marketing means such a perfect understanding of the customer that the product fits him totally and sells itself. Marketing would result in a customer who is ready to buy all that, what should be needed then is to make the product available.”

Organization’s marketing strategies are designed in tune with various marketing objectives.

The objectives of marketing aim at:

1. Creating demand for the products by identifying the needs and wants of customers. The consumers get familiar with the usage of products through different promotional programs, such as advertising and personal selling. This helps in creating demand for the products by the customers.

2. Increasing the market share of the organization. The marketing efforts, such as promotion, create the product awareness in the market. The product awareness helps in capturing the reasonable share in the market by organization.

3. Building the goodwill of the organization in the market. Every organization tries to earn reputation in the market by providing quality goods to the customers. It builds its goodwill by popularizing products supported by advertising, reasonable prices, and high quality.

4. Increasing profits and achieving long-term goals through customer satisfaction. All the marketing activities revolve around the customer. These activities fulfill the organization’s long-term goal of profitability, growth, and stability by satisfying the customer’s demands. All the departments, such as production, finance, human resource, and marketing, coordinate with each other to fulfill the customer’s expectations keeping the maximization of profit as the focus.

Essay # 5. Marketing Process:

Marketing Process —– The marketing process is one that involves the following chain of business activities:

1. Identification and study of the desires, needs, and requirements of the^ consumers;

2. Testing the validity of the consumers’ reaction in respect of product features, price, distribution outlets, new product concepts, and new product introduction;

3. Matching the consumers’ needs with the firm’s offerings and capabilities;

4. Creating effective marketing communications and programmes with emphasis on lower price, mass distribution channels and mass advertising to reach numerous market segments so that the consumers know about the product’s availability; and

5. Establishment of resource allocation procedures among the various marketing components like sales promotion, advertisement, distribution, product design, etc.

Outline of functions in the Marketing Process : In order to place the goods in the hands of the consumers, an integrated group of activities is involved in marketing. Marketing functions cover all those activities which are required for the journey of goods from the producer to the consumer. Goods require some preparations, undergo many operations and pass several hands before they reach the final consumer.

In consideration of the above factors, Clark has divided the modem marketing process into three broad categories as under:

(i) Concentration

(ii) Dispersion

(iii) Equalisation.

These are explained below.

1. Concentration – In a marketing process, concentration is that business activity in which the goods flow from many manufacturers/producers toward a central point or market. If we think of international trade, we find that the customers of a particular corporation or firm world reputation are scattered in different countries and even located thousands of miles, away, and the products are transhipped to points accessible to than. Similar scene is found even in the case of national trade. With the development of trade and commerce, the efforts in the direction of concentration activity have to place more stress on the functions like collection, storage, transportation and inventory of goods in the central markets, and processing of customer’s orders. In addition, the aspects of financing and risk-bearing are also to be taken into consideration.

In India, the concentration activity is undertaken by the Governments at the Central and State levels. Food example, The Food Corporation of India undertakes this activity in case of grains, rice, sugar, etc.

2. Dispersion – In a marketing process, dispersion is that business activity in which the goods flow from the central locations to the final consumers. The wholesalers and retailers play a great role in this activity. This activity involves many other supporting activities like classification, gradation, storage and transportation of goods. The functional aspects of finance and risk-bearing need important considerations.

In India, the agencies like The State Trading Corporation of India, The Minerals and Metals Trading Corporation of India, and The Food Corporation of India undertake this dispersion or distribution activity in respect of certain specified goods. Sane large scale manufacturing companies have, of late, undertaken this activity as a part of their marketing activities.

3. Equalisation – In a marketing process, equalisation refers to the adjustment of supply to demand on the basis of tint, quality, and quantity. This process helps to maintain the state of equilibrium between the forces of demand and supply. The primary responsibility of a business unit towards the consumers and customers is to make available the right products of right qualities at the right tine, in right quantity, at the right place and at the right price. The equalisation activity can serve these objectives.

Essay # 6. Integrated Marketing Communication Process:

Marketers operate is a very dynamic environment characterised by changing customer needs and wants, severe competition, changing process technology, advancements in information technology, government regulations, etc. That is why, they are adopting Integrated Marketing Communication (IMC).

Integrated Marketing Communication (IMC) involves integration of company’s various communication channels to deliver a clear, consistent and compelling message about the company and its products and brands. Most of the companies communicate with target customers by using promotion tools like advertising, personal selling, sales promotion, public relations and direct marketing. Through each of these tools, some message is transmitted to the target customers. IMC calls for careful blending of these promotional tools to ensure effective communication.

Integrated Marketing Communication (IMC) requires developing a total marketing communication strategy that recognises that all of a firm’s marketing activities (not just promotion) communicate with its customers. Everything a marketer does sends a message to the target market.

The EMC approach is an improvement over the traditional approach of treating various promotional activities as totally separate. It helps to develop the most suitable and effective method to contact customers and other stakeholders.

Often different tools play different roles in attracting, informing and persuading target customers. These tools are carefully coordinated under IMC so that they provide the same clear and consistent information about the company and its products/brands.

IMC leads to a total marketing communication strategy aimed at building strong customer relationships by showing how the company and its products can help customers solve their problems. It ties together all of the company’s messages and images.

The company’s television and print advertisements have the same message, look, and feel as its e-mail and personal selling communications. And its public relations materials project the same image as its Website or social network presence.

Communication Process:

Definition of Communication:

The term ‘communication’ is derived from the Latin word ‘communis’ which means common. That means if a person communicates with another, he establishes a common group of understanding. According to Newman, Summer and Warren, “Communication is an exchange of facts, ideas, opinions or emotions by two or more persons”.

Communication does not mean merely sending or receiving message. It involves understanding also. It is, in fact, a bridge of meaning and understanding between two or more people. Thus, communication is a two- way process.

The salient features of communication are as follows:

(i) Communication involves at least two persons—one who sends the message and the second who receives the message.

(ii) Communication is a two-way traffic. The process of communication is not completed until the message has been understood by the receiver. Understanding is an essential part of communication, but it does not imply agreement.

(iii) The basic purpose of communication is to create an understanding in the mind of the receiver of information.

(iv) Communication may take several forms, e.g., order, instruction, report, suggestion grievance, observation, etc. The message may be conveyed through words spoken or written, or gestures.

Elements of Communication:

Communication is a process involving exchange of facts, viewpoints and ideas between persons placed in different positions in the organisation to achieve mutual understanding as shown in Fig. 11.5. The communication process starts when the sender or communicator has a message communicate to some other person known as receiver. It will be completed when the receiver gets the information and sends feedback to the communicator.

The essential elements of communication are described below:

(i) Sender or Communicator:

The person who conveys the message is known as communicator or sender. By initiating the message, the communicator attempts to achieve understanding and change in the behaviour of the receiver. In case of marketing it is the marketer (sender) who starts the communication process.

(ii) Message:

It is the subject-matter of any communication. It may involve any fact, opinion or information. It must exist in the mind of the communicator if communication process is to be initiated. In marketing, the marketer’s message relates to product, price and place.

(iii) Encoding:

The sender of information organises his idea into a series of symbols (words, signs, etc.) which, he feels, will communicate to the intended receiver or receivers. This is called encoding of message. Communication may take place through physical gestures also.

(iv) Media or Communication Channel:

The communicator has to choose the channel for sending the information. Communication channels are the media through which the message passes. It may be either formal or informal. In marketing, media may be salespersons, advertisement and publicity.

(v) Receiver:

The person who receives the message is called receiver. The communication process is incomplete without the existence of receiver of the message. It is the receiver who receives and tries to understand the message. The receiver in case of marketing is the prospective or present customer.

(vi) Decoding:

After the appropriate channel or channels are selected, the message enters the decoding stage of the communication process. Decoding is done by the receiver. Once the message is received and examined, the stimulus is sent to the brain for interpreting, in order to assign some type of meaning to it. It is this processing stage that constitutes decoding. The receiver begins to interpret the symbols sent by the sender, translating the message to his own set of experiences in order to make the symbols meaningful.

(vii) Response:

Response refers to the set of reactions that the receiver has after being exposed to the message. In case of advertising, a response may mean developing a favourable attitude towards the product as a result of an advertising campaign. However, in many cases, measuring such responses is not easy.

(viii) Feedback:

Communication is completed when the communicator receives feedback information from the receiver. The feedback may reveal that the receiver has understood the message. It may also contain information about the action taken by the receiver on the basis of message sent by the communicator. Thus, feedback is the backbone of effective communication.

(ix) Noise:

Noise is a very common thing we observe in our day-to-day interaction with others. At times it affects adversely the effectiveness of communication. For example, if a person is talking over the phone to another and there is a noise around him, he will feel great difficulty in listening to the person at the other end of the phone. Even the noise can affect the voice of the sender of the message.

Hurdles or Difficulties in Marketing Communication:

There are four factors which might create hurdles or problems in communication between the marketer and the target customer.

These hurdles include noise, selective attention, selective distortion and selective retention as discussed below:

Noise is a sort of interfering sound in the communication process anywhere along the way from the sender to the receiver and vice versa. It can be sound of running bus, two persons talking close at hand or someone shouting around. Noise of any kind has the potential of creating disruption or barrier to effective communication. The sources of noise can be both internal and external. Noise within the office can be controlled, but it is very difficult to control the external noise.

Noise is one of the biggest obstacles in marketing communication. For example, a driver’s need to provide safety to the traffic sidetracks the role of billboards, banners, etc. during disturbed weather conditions —wind, dust storm, rain, etc. Similarly, too much advertisement exposure during the day of purchase of tyre for a car, would disturb the planned purchasing.

These constitute noise in the communication process. The level of noise may not allow a customer to receive the message as intended. The effectiveness of communication depends upon the level of congruity and compatibility between different elements of the communication.

(ii) Selective Attention:

A person may be exposed to hundreds or thousands of ads or brand communications in a day. Because a person cannot possibly attend to all of these, most stimuli will be screened out. This process is called selective attention. Because of this, the marketers have to work hard to attract consumer’s notice. Generally, people are more likely to notice stimuli that relate to a current need.

Thus, a person who is motivated to buy a car is most likely to notice car ads. The process of selective attention explains why advertisers make extra efforts to grab the audience’s attention through fear, music, or bold headlines.

(iii) Selective Distortion:

Selective distortion is the tendency to interpret information in a way that fit one’s perception. Consumers often distort information to be consistent with prior brand and product beliefs. Thus, the target audience will hear what fits into their belief systems.

As a result, receivers often add things to the message that are not there and do not notice other things that are there. The advertiser’s task is to strive for simplicity, clarity, interest and repetition to get the main points across.

(iv) Selective Retention:

People retain in their long-term memory only a small fraction of the messages that reach them. If the receiver’s initial attitude towards the brand is positive and he rehearses support arguments (that is, tells himself things such as the product is in fashion or that it is reasonably priced or that it delivers good value, etc.), the message is likely to be accepted and have high recall.

If the initial attitude towards the brand is negative and the person rehearses counter arguments (that is, tells himself that the product is highly overpriced or that the competing products offer more value to customers or that the brand is not doing well in the market, etc.) the message is likely to be rejected but to stay in long-term memory.

Thus, the advertiser’s task is two-fold here. He not only has to create an initial favourable attitude towards the brands but also through his ads communicate to the audience strong points about the brands so that the customers can rehearse the same and the brand is positively placed in the long-term memory of the customers.

Essay # 7. Role of Marketing in Economic Development :

In today’s era of globalization role of marketing is increasing to fulfill different needs and requirements of people. Due to increase in scale of production and expansions of markets, producers need support of marketing tools to distribute their goods and services to the real customer.

High competition in market and product diversification has increased the marketing activities like advertising, storage, sales promotion, salesmanship etc. Now high profits can be attained by high sales volume and good quality of products and services. Marketing has acquired an important place for the economic development of the whole country. It has also become a necessity for attaining the objective of social welfare and high quality of life.

The importance of marketing can be explained as under:

(a) Importance of Marketing to a Firm:

Marketing is considered to be the prime activity among all the business activities. Success of any business depends on success of marketing. Peter F. Drucker has rightly said that, “Marketing is the business.” Objective and goals of any organization can be achieved through efficient and effective marketing polices. The success of an enterprise depends to a large extent upon the success of its marketing activities.

The importance of marketing to the firm can be explained as under:

1. Marketing in Business Planning and Decision Making:

Marketing research is helpful in searching opportunities and potential in market. It is necessary for an organization to decide what can be sold before deciding that what can be produced. Unless and until these key decisions are taken, it is not practical to take the decisions regarding production, quality of product, type of product and quantity of production etc.

Marketing is very helpful in taking all such decisions therefore its plays an important role in business planning. Marketing provides valuable information regarding production policies, pricing policies, advertisement and sales promotion policies of competitors, so that a suitable policy may be formulated by the top management.

2. Increase in the Profits:

The main objective of every firm is to increase the profitability by successful operations of its activities. Maximization of profits can be possible only through the successful operations of its activities. Marketing department need the help of other departments as well for discharging its duties successfully, marketing department coordinate with other departments like finance, production, to fulfill the needs of customers and regular supply according to market demand.

3. Flow of Marketing Communication:

Integrated marketing communication makes it possible to flow marketing information to intermediaries, publics and customers. Marketing acts as a medium of communication between the society and the firm. Various information regarding trends, needs, attitudes, fashions, taste preferences etc., are collected by marketing department.

(b) Importance of Marketing to the Society:

1. To Uplift Standard of Living:

Ultimate objective of marketing is to produce goods and services for the society according to their needs and tastes at reasonable prices. Marketing discovers the needs and wants of the society, produces the goods and services according to their needs, creates demand for these goods and services encourages consumers to consume them and thus improves the standard of living of the society. By advertising utility and importance of products and services are communicated to the people.

2. To Decreases the Total Marketing Cost:

Next important responsibility of marketing is to control the cost of marketing. Distribution cost and production cost can be decreased by creation of high demand in market. Decrease in cost of production will have two impacts, firstly the high profitability of organization and secondly to increase in the market share of the firm.

3. Increase in the Employment Opportunities:

Marketing provides direct and indirect employment in society. Employment opportunities are directly related with the development of marketing. Successful operation of marketing activities requires the services of different enterprises and organizations such logistics, warehousing, transportation, retailing finance, etc.

4. In controlling Business Fluctuations:

Business fluctuations like recession and depression causes unemployment, and deflation. Marketing helps in protecting society against all these problems. Marketing helps in innovation and discovery of new markets for the goods, modifications and alterations in the quality of the product and development of alternative uses of the product. It reduces the cost of production and protects the business enterprise against the problem of recession.

5. Increase Per Capita Income:

Marketing operations create, maintain and increase the demand for goods and service. Marketing activities flow money from one part of economic system to other. By generation of new employment opportunities it helps to increases income of people.

Marketing plays an important role in the development of a country. Most of developed countries like USA, Japan, and Germany are having strong marketing system, they are moving towards global marketing. Industrial growth and development need support of marketing, large scale of production requires new markets. In these countries, the production exceeds the demand it need marketing system to be much more effective so that the produced goods and services can be sold.

Marketing has a vital role to play in the development of an underdeveloped and developing economy. In developing economies the industrialization and urbanization is increasing at a faster rate and so the importance of marketing is also increasing as it is required for selling the produced goods and services. A rapid development of underdeveloped economy is possible only if the modern techniques of marketing are used in these countries marketing activities are increasing at a fast rate in developing countries.

Essay # 8. Importance of Marketing :

Role of Marketing in a Firm :

Efficient marketing management is a pre-requisite for the successful operation of any business enterprise. A business organisation is differentiated from other organisations by the fact that it produces and sells products.

The importance of marketing in modern business is discussed below:

Marketing is the beating heart of the business organisation. The chief executive of a business cannot plan, the production manager cannot produce, the purchase manager cannot purchase, and the financial controller cannot budget until the basic marketing decisions have been taken. Many departments in a business enterprise are essential for its growth, but marketing is still the sole revenue producing activity. Marketing function is rightly considered the most important function of management.

Marketing gives top priority to the needs of customers. Quality of goods, storage, display, advertisement, packaging, etc. are all directed towards the satisfaction of customer.

Marketing helps in the creation of place, time and possession utilities. Place utility is created by transporting the goods from the place of production to consumption centres. Time utility is created by storing the goods in warehouses until they are demanded by customers. Possession or ownership utility is created through sale of goods. The significance of marketing lies in the creation of these utilities to satisfy the needs of the customers and thereby earn profit. It a firm is able to satisfy its customers, it will have better chances of survival and growth even in the fast changing environment.

Marketing generates revenue for the business firm. Marketing is an important activity these days, particularly in the competitive economies. Marketing generates revenue for the business enterprises. No firm can survive in the long-run unless it is able to market its products. In fact, marketing has become the nerve-centre of all human activities.

Role of Marketing in the Economy :

Marketing plays a significant role in the growth and development of an economy. It acts as a catalyst in the economic development of a country by ensuring better utilisation of the scarce resources of the nation. Since a business firm generates revenues and earns profits by its marketing efforts, it will engage in better utilisation of resources of the nation to earn higher profits.

Marketing determines the needs of the customers and sets out the pattern of production of goods and services necessary to satisfy their needs. Marketing also helps to explore the export markets.

Marketing helps in improving the standards of living of people. It does so by offering a wide variety of goods and services with freedom of choice. Marketing treats the customer as the king around whom all business activities revolve. Besides product development, pricing, promotion, and physical distribution of products are carried out to satisfy the customer.

Marketing generates employment for people. A large number of people are employed by modern business houses to carry out the functions of marketing. Marketing also gives an impetus to further employment facilities. In order to ensure that the finished product reaches the customer, it passes through wholesalers and retailers and in order to perform numerous jobs, many people are employed.

On the whole, marketing leads to economic development of a nation. It increases the national income by bringing about rise in consumption, production and investment. It mobilises unknown and untapped resources and also facilitates full utilisation of production capacity and other assets. It helps in the integration of industry, agriculture and other sectors of the economy. It also contributes to the development of entrepreneurial and managerial talent in the country.

Essay # 9. Challenges and Opportunities of Marketing:

A large number of changes have taken place in the recent years which have influenced the field of marketing as discussed below:

1. Globalisation :

The term ‘globalisation’ means the process of integration of the world economy into one huge market through the removal of all trade barriers or restrictions among countries. In India, restrictions on imports and exports and inflow and outflow of capital and technology have been lifted by the Central Government so that Indian business may become globally competitive.

The broad features of globalisation are as follows:

(i) Free flow of goods and services across national frontiers through removal or reduction of trade barriers.

(ii) Free flow of capital across nations.

(iii) Free flow of technology across nations.

(iv) Free movement of human resources across nations.

(v) Global mechanism for the settlement of economic disputes.

The aim of globalisation is to look upon the world as a ‘global village’ which would allow free flow of goods, capital, technology and labour between different countries. Because of globalisation, there has been a tremendous impact on marketing strategies of business firms, particularly engaged in international marketing. They have to design product, price, promotion, place or distribution strategies to meet the challenges of global marketing.

2. Information Technology (IT) :

Information technology has enabled real-time access and sharing of digital information through digital networks, information database, and computer graphics. It has brought about many changes in the business landscape.

Electronic technology has facilitated purchase and sale of goods and services electronically. E-Commerce can be used not only to market product, but also to build better customer relationships. Thus, marketers are facing new challenges as regards booking of e-orders, e-deliveries of intangible products, receiving e-payments and Customer Relation Management (CRM).

3. Increased Leisure Time :

As a result of shorter working week, vacations, and labour-saving devices available for domestic use, most wage-earners now enjoy more leisure time. So there has grown a market for articles used for recreational purposes to enjoy the leisure time. In the developing countries also, cinema shows, holiday trips, sports and games have come into importance.

4. Changing Role of Women :

Throughout the world more and more women are taking up jobs and have gained economic independence to a large extent. They accept even challenging jobs. They also exert greater influence on buying decisions of their families. It may happen that husband buys a commodity according to the decision of the wife. This has necessitated special study of the buying motives of the working women.

5. Demand for Services :

Over the years, consumers’ demand for services is on the rise as in case of tour and travel, educational, medical, repair and maintenance services, etc. Due to growing complexity, business firms also need expert services like accounting, taxation, advertising, customer care, etc.

6. Increased Competition :

Business has become more competitive these days and this has brought about many changes in the field of marketing, e.g., product differentiation, competitive pricing, competitive advertising, customer support services, etc.

7. Social Emphasis :

Marketing is now concerned with the long-term health and happiness of consumers and well-being of society. Marketers in are getting involved in improving the quality of life of consumers and preventing or minimising the evil effects of environmental pollution on the society by practising green marketing.

Emerging Concepts in Marketing :

1. Social Marketing:

It refers to the design, implementation, and control of programs seeking to increase the acceptability of a social idea, cause, or practice among a target group. For instance, a recent publicity campaign for prohibition of smoking in Delhi explained the place where one can and can’t smoke in Delhi.

2. Relationship Marketing:

It is the process of creating, maintaining, and enhancing strong value-laden relationships with customers and other stakeholders. For example, British Airways offers special lounges with showers at many airports for frequent flyers. Thus, providing special benefits to valuable the customers to strengthen bonds will go a long way in building relationships.

To achieve relationship marketing, a marketer has to keep in touch with the regular customers, identify most loyal customers to provide additional services to them, design special recognition and reward schemes, and use them for building long-term relationships.

3. Direct Marketing:

It means marketing through various advertising media that interact directly with consumers, generally calling for the consumer to make a direct response. Direct marketing includes Catalogue Selling, Mail Order, Tele computing, Electronic Marketing, Selling, and TV Shopping.

4. Service Marketing:

It is applying the concepts, tools, and techniques, of marketing to services. Service is any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Services may be financial, insurance, transportation, banking, savings, retailing, educational or utilities.

5. Non-Business Marketing:

Marketing is applied not only to business firms but also to non-business organisations. Voluntary institutions are adopting principles and practices of marketing to promote their ideologies, schemes and programs among the target groups.

Essay on Marketing: Top 5 Essays | Marketing Management
Essay on Sales Promotion: Top 4 Essays | Functions | Marketing Management
Marketing Features: 4 Major Features of Marketing – Explained!
Difference between Marketing and Selling

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Exclusive: How Intel lost the Sony PlayStation business

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Paris Games Week (PGW) trade fair for video games in Paris

Intel lost PlayStation 6 chip contract to AMD in 2022, sources say
Dispute over profit margins blocked Intel-Sony deal, sources say
PlayStation deal could have generated $30 billion in revenue, sources say

BACKWARDS COMPATIBILITY

Seeking a marquee customer.

Reporting by Max A. Cherney in San Francisco; editing by Kenneth Li, Deepa Babington and Leslie Adler

Our Standards: The Thomson Reuters Trust Principles. , opens new tab

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Disney to stop using Salesforce-owned Slack after hack exposed company data, WSJ reports

Walt Disney plans to transition away from its use of Slack as a companywide workplace collaboration system, after a hacking entity leaked online more than a terabyte of company data, the Wall Street Journal reported on Thursday, citing a memo.

Interview with Airbnb CEO Brian Chesky in Paris

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NTPC Share Price Highlights September 19, 2024: NTPC shares gain as subsidiary files draft papers with SEBI for ₹10,000 crore IPO

Ntpc share price, ntpc stocks, ntpc share price updates september 19, 2024: ntpc stock surged to hit a 52-week high on thursday’s trade. the stock was in focus as its renewable energy arm filed draft papers with sebi for ₹10,000 crore ipo..

FILE PHOTO: A signboard of NTPC is seen outside its office in Mumbai, India, July 23, 2018. REUTERS/Francis Mascarenhas/File Photo

N TPC Stocks, NTPC Share Price Updates September 19, 2024: NTPC Green Energy, the renewable energy arm of NTPC, on Wednesday filed preliminary papers with capital markets regulator SEBI to raise ₹10,000 crore through an initial public offering (IPO). NTPC shares gained over 3% to hit a 52-week high on Thursday. It closed among the top gainers on the Nifty 50 pack.

ALL UPDATES

Ntpc’s total market cap stood at ₹4,11,138.64 crore., ntpc share price closing figures: shares close 2% higher on thursday .

NTPC shares closed 2.38% higher at ₹424 on the NSE. On the BSE, the stock climbed 2.48% to end at ₹424.10.

NTPC shares were up 2.22% on the NSE trading at ₹423.35 as at 3 pm.

Ntpc’s total market cap stood at ₹4,09,587.18 crore., ntpc shares traded at ₹422.80 on the nse, higher by 2.09% as at 2.10 pm., ntpc shares price outlook as at 1 pm.

Shares of NTPC traded at ₹427.40 on the NSE , higher by 3.20%.

On the BSE , the stock traded at ₹427.75, higher by 3.36%.

NTPC share price today: NTPC stock hits 52-week high

NTPC shares have hit a 52-week high on the NSE today at ₹431.85.

NTPC shares in focus

NTPC has informed the stock exchanges that NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has filed a draft red herring prospectus dated September 18, 2024, with SEBI, BSE Limited and National Stock Exchange of India Limited in respect of its proposed initial public offer (IPO) of equity shares, subject to receipt of requisite approvals, market conditions and other considerations.

NTPC shares climbed 3.72% on the NSE, trading at ₹429.55

NTPC shares gained 3.42% on the NSE, trading at ₹428.30 as at 11.22 am.

Ntpc shares in news: ntpc shares gain 3.15% on the nse.

NTPC shares climbed 3.15% on the NSE, trading at ₹427.20 as at 10.12 am.

NTPC share price in focus: NTPC shares featured among major stocks that will see action today

KS Badri Narayanan of businessline writes

Stock market live today: NTPC shares trade among top gainers on the Nifty 50 pack

Top gainers on the NSE as at 9.30 am:

NTPC (3.31%), LTIMindtree (3.20%), Wipro (2.14%), Bajaj Auto (1.53%), Tata Motors (1.40%)

Top losers:

ONGC (-0.71%), BPCL (-0.36%), Bajaj Finserv (-0.29%), L&T (-0.05%)

NTPC stock in focus: NTPC Green Energy files draft papers to raise Rs 10,000 cr via IPO: PTI

NTPC Green Energy, the renewable energy arm of NTPC, on Wednesday filed preliminary papers with capital markets regulator Sebi to raise Rs 10,000 crore through an initial public offering (IPO).

The initial share-sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP).

The renewable energy firm said proceeds of the issue to the tune of Rs 7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd’s (NREL) outstanding loans, while a portion will be utilised for general corporate purposes.

The filing comes at a time when the country’s IPO market is thriving, with around 60 main board companies having launched their initial share-sales this year so far.

NTPC Green Energy is a ‘Maharatna’ central public sector enterprise with renewable energy portfolio, including solar and wind power assets spread across more than six states.

As of August 2024, the company’s operational capacity comprised 3,071 MW from solar projects and 100 MW from wind projects, across six states.

Overall, the NTPC group aims to reach 60 GW of renewable energy capacity by 2032. Currently, it has 3.5 GW of installed capacity and over 28 GW in progress.

India’s renewable energy sector is growing rapidly. Globally, India is ranked fourth in renewable energy capacity, including wind and solar installations, the draft papers said, citing a Crisil report.

The country’s installed renewable energy capacity increased from 63 GW in FY12 to 123 GW in FY21, reaching about 191 GW by March 2024 (including large hydro). As of March 2024, renewable energy made up nearly 43 per cent of India’s total power generation capacity, with solar energy leading this growth, it added.

IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the book-running lead managers to the issue.

Product Marketing Essay Examples & Topics

Product marketing is the process of taking a product and launching it into a market. This process takes place in the beginning of a product’s life cycle. Product marketers have to understand the product and the customers that it will reach.

Introduction of a new product consists of five steps.

The first step is discovery, where specialists conduct research. The next stage is planning: the team comes up with an effective marketing strategy. It is followed by definitions, where the customers are identified. Then it is time for the preparation stage, where campaigns are developed. Finally, the product launches, and it is time to monitor it to ensure its growth.

In your product essay, you might want to focus on product marketing strategy development. Another option is to discuss the essential product management issues. Want to know more about how to promote a product? Essay examples, topics, and writing tips are collected here. In this article, our IvaPanda experts have broken down how to write a successful product marketing essay. We listed some advice on how to describe any item that needs to be marketed and sold. Furthermore, on the page, you will also find product essay examples.

Write an A+ essay about product marketing with us!

To sell a particular product, you have to advertise it effectively. If you are studying marketing, you are very aware of that fact. However, you should also be mindful of writing a clever description of the item you’re advertising. An accurate and complete product description leads to the selling of a product. Essay examples analyzing such advertisements can be found below. Here, we will explore how to describe a product correctly.

Here are some ground rules:

Determine your audience.

Before you can begin selling your item, you need to know to whom you’re selling it. Promoting a product cannot be accomplished without identifying your target audience. To do this, you need to get into the heads of your customers. Think of their interests, why they want your product, which features they would pay most attention to.

Think of the product’s benefits.

With your buyer in mind, imagine what parts of your product are of the utmost importance. This will be the basis for your product promotion. Your audience needs to know how you can improve their lives. Mention the quality of the product and its unique selling point.

Try a story-telling technique.

The days of personal selling door-to-door are over. Yet, you can still try to appeal to your customers. Their emotions will still influence their purchase, so try to call to them by being as precise as possible. Mention all the features that will be relevant. Ensure that you allow them to visualize their experience with the product.

Work on the wording and tone.

Your sales letter needs to sound convincing but not overbearing. Try being as natural as possible in your wording, as though you’re working retail and selling the product face-to-face. At the same time, don’t shy away from using powerful words. Make sure your phrasing will elicit a strong emotional response from your audience.

Make sure it’s easy to skim.

In the day and age of social media, people are surrounded by information. There isn’t enough time in the world to absorb it all. So, ensure that your description is easy to skim. Keep your introduction and conclusion short, use bullet points, and break your text into paragraphs. Our summarizer tool can help you see your essential arguments.

Add keywords and images.

Remember to review your text to check that it is optimized for search engines. After all, that is how most people will stumble upon it! Make sure to add decent, quality images that capture your product design. They are just as important as the full item description.

Even if you have read through different examples of essays about products and marketing in general, you might still have questions. For example, how do you create a correct paper structure? What is product-market research? Should you include it in your essay? In this section, see how to start your marketing essay.

Here are some tips on how to write an essay about a product:

Introduce the product. This is the stage where you develop a relationship with your reader. Show your audience that you understand them and start to familiarize them with your item. They don’t have to know the history of the product development – just the context.
Address the problem. In other words, formulate your thesis statement. Think of an issue that you could describe. Or consider ways to improve your product. You can approach this through tools such as marketing mix. Our thesis generator can help you formulate it.
Describe the product in question. In the body of your essay, you need to capture the essence of your item. You can think about it in terms of a product launch. How do you sell it to the customers? Be specific, and don’t forget who your audience is.
Evaluate the product’s features. Imagine what kind of service or benefit your readers might receive from it. Don’t forget to mention key details. For example, imagine you’re talking about a local product. Acknowledge a few different alternatives available on the market to validate your research.
Conclude your assessment. To round up your essay, deliver your final verdict on the product. Mention whether you think the price-to-quality ratio is worth it. Your product essay has to be valuable to those who read it, so be candid and thoughtful.

Thank you for reading! We wish you all the best with your paper. Now, you can proceed to read our examples of essays about product below.

335 Sample Essays on Product Marketing

Apple distribution channels research paper: direct & indirect distribution of iphone.

Words: 2874

Scrub Daddy Inc.’s Superior Sponge Marketing Plan

Words: 3585

MacBook Pro: Targeting, Positioning, Marketing Mix

Words: 1663

Decathlon Company’s New Product Marketing Strategy

Words: 3498

Victoria Secret Target Market & Consumer Demographics

The product life cycle (plc): apple inc. case.

Words: 1441

Nike Shoes Product Marketing and Perceptual Map

Vaseline product: brand and packaging perspectives, christian louboutin: brand, voice, and guidelines.

Words: 1096

Marketing Strategies for Laundry Detergent “Finish Dishwater Tablets 25 Pack”

Words: 1502

New Energy Drink Marketing Strategy

Words: 3973

Pricing and Distribution Strategy: Blizzard From Dairy Queen

Potato chip: basics of cost & managerial accounting.

Words: 1413

Marketing: Rolex as Product, Its Promotion and Price

Words: 7165

Bulla Creamy Classics Ice Cream’s Marketing Strategy

Words: 1615

Xbox Product’s Market Segments and Decision-Making

Words: 2726

Sleep and Wake Pillow Product Development & Marketing

Words: 3060

Aqualisa Quartz: Simply a Best Shower

Apple, samsung, sony, huawei, lenovo product hierarchies.

Words: 2861

Marketing: McDonalds and KFC

Words: 2511

Coco Mademoiselle by Chanel: Consumer Behavior

Words: 1235

Organizational Buyers

Words: 1790

Product Design and Market Competitiveness

Product hierarchy in the uae’s industries.

Words: 3740

Christian Dior’s Jasmine Perfume’s Marketing

Words: 1708

Finish Dishwasher Tablets and Its Buyers’ Behavior

New product feasibility: tecno n7 series android smartphone.

Words: 3127

A Strategic Marketing Plan for the Coca-Cola Amatil Company

Words: 3444

Quality Function Deployment: Steps and Benefits

Words: 1974

Starbucks’ New Ice Cream Product and Service Plan

Words: 1218

Virtual Reality Technology for Wide Target Audience

Words: 1088

Chanel Cosmetics Competition Analysis

Words: 2510

Dubai Road and Transportation Authority: RTA Certified Helmets

Smart bags: product life cycles stages, riddell speed flex helm: strategic proposal.

Words: 3143

Product Life Cycle: Stages and Examples of Products

Apple, samsung, sony, lg, toshiba product hierarchies.

Words: 2775

Pricing Strategy for a General Motors’ Chevrolet Bolt EV

Words: 1246

Rockstar Drink: Developing, Managing and Pricing Products

New product development: smart shopping cart.

Words: 1140

Nike Shoes’ Marketing and Segmentation Strategy

Effects of red bull’s promotion on sales volume.

Words: 4278

OGX Beauty Product Launch Project Management

Words: 2740

The Dyson Robotic Vacuum: Target Group and Marketing Plan

Blu-ray dvds: marketing and target market.

Words: 1532

Kellogg’s Breakfast Cereals: Marketing Mix

Ibg join venture & toothpaste business plan.

Words: 6853

Foldable Fabric Trolley: Product Design and Development

Words: 8852

The Quartz Shower Product of Aqualisa Company

Australian open tennis tournament as a product, neptune gourmet seafood’s new product launch, local newspaper and its social media advertising, why barbie has been so successful, the lost socks product’ competitor analysis, flip-flops in the uae: segmentation, targeting, and positioning, amazon magic wand product description.

Words: 2758

Launching a New Car: Project Initiation and Planning

Words: 1430

Dettol with Oud Product of Reckitt Benckiser Group

Words: 2570

Product Classification, Differentiation, Branding

Words: 1388

Marketing: Kripsy Kreme Company

Words: 1084

Advanced Marketing Strategy of Adidas Group

Words: 1763

Starbucks: The Lack of Willingness to Pay

Product marketing: the key approaches, licious whiskers: retail sales plan, sobar: the non-alcoholic drink.

Words: 1158

New Balance 827 Sneakers for Active Lifestyles

Words: 1175

The Costs and Pricing of Athletic Accessories

Words: 1569

Licious Whiskers Distribution in Tennessee

The new balance sneakers product marketing, mealztime cordless self-heating bento box, nike’s baseball shoes: product marketing, the eight sleep pod: product marketing, the tesla model 3: product evaluation, tokyo’s branding & social media, decoding the art of television commercials.

Words: 1240

E-Cigarettes and Tobacco Product Marketing Tactics

Crescent pure promotion: case study, domestic production as an essential for stabilizing the economy, the coho salmon cake product marketing.

Words: 2318

The Wrinkle Cream Marketing and Pricing Policy

Chevy silverado vs. gmc denali trucks comparison, fraudulent claims and incomplete product content, developing a supply chain security policy, led (light-emitting diode) table lamps as products, jolt coffee’s new categories of commodities, the lenovo consumer digital journey.

Words: 2575

Forbidden City: Launching a Craft Beer in China

Market efficiency and externalities, solar powered sunglasses product marketing, psychographic and behavioral characteristics in promoting the product, the attractiveness of environmentally-friendly clothing products, new products: electric scooters, importance of development of the cellphone, women’s outdoor clothing: product marketing, smart glasses: the product development.

Words: 1059

Tekio Modular Lighting Lanterns’ Marketing Campaign

Wear2win product description and market potential, multicultural food marketing techniques, the medical watch product: business plan.

Words: 1560

Marketing: The Tao of Timbuk2 Company

Ikea company’s product design and pricing, starbucks and new product introduction, ez-schedule app’s feasibility and implementation, marketplace for the ez-schedule business app, development of a low calorie date jam.

Words: 3104

Frame Styler as an Innovative Product

New product: xiaomi mi 11 ultra, apple’s iphone in the technology market.

Words: 1311

Pricing a New Product

Efg amalgamated ltd. llc: advertising in second life, the quick scan usb flash drives for different audiences, abc corporation introducing new type of usb, marketing. introducing abc usb flash drives, nature’s best: product marketing recommendation.

Words: 1399

AHP Company in the Automated Wheelchair Market

Bendable iphone. target audience for a new product, product placement during the covid-19 pandemic, international products and organizations, minutebox: assessing product opportunities.

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Introduction. B2B marketing refers to a set up where goods and/or services are sold from one corporation to another while B2C is a case where commodities are sold from a business to the consumer. There exist deep running differences between these two forms of marketing, as much as they both involve selling commodities or services.
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The Journal of Business-to-Business Marketing® features: basic and applied research that reflects current business marketing theory, methodology, and practice. articles from leading researchers covering topics of mutual interest for the business and academic communities. a summary for business marketing practitioners and a structured abstract ...
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