Marketing
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- Date Submitted: 01/29/2010 01:42 AM
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The main purpose of this coursework is to find out how well Red Bull Energy drink markets their products, namely the marketing process organization.
What is marketing?
There are many definitions of marketing. The better definitions are focused upon customer orientation and satisfaction of customer needs. Here are some descriptions regarding marketing:
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
Kotler.
Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably -
The Chartered Institute of Marketing (CIM).
The CIM definition (in common with Barwell's definition of the marketing concept) looks not only at identifying customer needs, but also satisfying them (short-term) and anticipating them in the future (long-term retention).
The right product, in the right place, at the right time, at the right price -
Adcock.
Price, promotion, product and place are known as 4P’s of marketing.
The Marketing Mix
(The 4 P's of Marketing)
The major marketing management decisions can be classified in one of the following four categories:
• Product
• Price
• Place (distribution)
• Promotion
These variables are known as the marketing mix or the 4 P's of marketing. They are the variables that marketing managers can control in order to best satisfy customers in the target market. The marketing mix is portrayed in the following diagram:
The Marketing Mix
Product
Place
Target
Market
Price
Promotion
The firm attempts to generate a positive response in the target market by blending these four marketing mix variables in an optimal manner.
Product
The product is the physical product or service offered to the consumer. In the case of physical products, it also refers to any services or conveniences that are part of the offering....
What is marketing?
There are many definitions of marketing. The better definitions are focused upon customer orientation and satisfaction of customer needs. Here are some descriptions regarding marketing:
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
Kotler.
Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably -
The Chartered Institute of Marketing (CIM).
The CIM definition (in common with Barwell's definition of the marketing concept) looks not only at identifying customer needs, but also satisfying them (short-term) and anticipating them in the future (long-term retention).
The right product, in the right place, at the right time, at the right price -
Adcock.
Price, promotion, product and place are known as 4P’s of marketing.
The Marketing Mix
(The 4 P's of Marketing)
The major marketing management decisions can be classified in one of the following four categories:
• Product
• Price
• Place (distribution)
• Promotion
These variables are known as the marketing mix or the 4 P's of marketing. They are the variables that marketing managers can control in order to best satisfy customers in the target market. The marketing mix is portrayed in the following diagram:
The Marketing Mix
Product
Place
Target
Market
Price
Promotion
The firm attempts to generate a positive response in the target market by blending these four marketing mix variables in an optimal manner.
Product
The product is the physical product or service offered to the consumer. In the case of physical products, it also refers to any services or conveniences that are part of the offering....