Marketing Principles

Essay Instructions:

Should a marketing manager or a business refuse to produce an “energy-gobbling” appliance that some consumers are demanding? Should a firm install an expensive safety device that will increase cost but that customers do not want? Are the same principles involved in both these questions? Explain. Your response should be at least 300 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. **if possible use source from Essentials of Marketing 12th Edition McGraw Hill**

Essay Sample Content Preview:

Principles of Marketing
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Principle of Marketing
In marketing, a firm identifies the needs and wants of the consumers and provides the products or services needed. The key elements employed in marketing are 4Ps which include product price, promotion and place. The main aim in marketing is creating utility of the product or service in order to satisfy the needs of the consumers. It is the goal of each marketer to reach the goal of macro-marketing. The challenging part to most marketers is deciding the products to offer to the consumers. Marketing managers make a major contribution while playing their role in marketing as compared to their role regular consumer-citizens. The decision of producing and marketing appliances that may be considered energy gobbling or installing expensive safety devices that will be costly to the consumers entirely lies with the marketing manager (Kotler 2012).
Marketing managers ought to empathize with the consumers wants and their long term satisfaction. This entails creation of marketing mix that is satis...

Updated on January 26, 2024

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