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Key Principles of Marketing






UNIT 1

MARKETING

Lead-in

Discuss the following questions with your partner.

1 What does marketing involve?

2 What is telemarketing?

3 What do you know about a marketing plan?

4 Can you give a definition of a target group?

 

Discuss the following quotations.

Business is more exciting than any game.

Lord Beaverbrook

The basic rule of free enterprise: you must give in order to get.

Scott Alexander

Write a paraphrase of each. Say whether you agree or not, and why.

 

KEY VOCABULARY

Marketing Concepts

Marketing is a very important factor in the success of most businesses and so it is important to use the right form of marketing strategy correctly for your own business and your ultimate goal that you are aiming to achieve.

Marketing is the business activity of presenting products or services in such a way as to make them desirable to potential customers. This definition is the basic purpose of marketing and what it is about. As we all know marketing works hand in hand with sales. Sales are the transfer of something to the ownership or use of somebody else, or the provision of something .e.g. a service, in exchange for an agreed amount of money.

There are numerous forms of marketing and each one is designed to do or sell or provide something different and through various means of communication. Marketing is used to provide the public who are the potential customers of any business, with the knowledge of what they do and why you should invest in their product or service. Telemarketing is one form of marketing and is the use of phone conversion to entice or persuade companies or customers to purchase the product or service, the telemarketer is offering and attempting during the call to arrange a subsequent meeting or initiate a sale.

Also internet marketing has been the “turn of the century” way to find customers and heighten sales within this sector. A high percentage of the world now uses the internet for one thing or another and what better than to advertise in the most used and influential tool out there. There are many reasons why marketing needs to be used to promote and support businesses; the use of marketing is the main provider of revenue within most businesses and is therefore a vital operation that must be dealt with properly and updated constantly. Marketing is a key influence when it comes to the behaviour of consumers, and when a marketing campaign is planned well using its full potential it can actually enhance your sales and profits.



Key Principles of Marketing

• Marketing is essentially about organizations meeting customers’ needs as a means of achieving the organizations’ own objectives.

• Marketing is both a philosophy and a set of techniques. Marketing techniques have less value if an organization has not embraced the philosophy of marketing.

• The principles of marketing are not new, but a continually changing marketing environment demands new ways of applying the basic principles.

• Marketing can be adopted by both profit-seeking and not-for-profit organizations.

• Marketing operates in an environment in which stakeholders have rising expectations for the ethical standards of marketers.

 



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