How does marketing satisfy consumer needs?
Marketing satisfies the consumers’ needs by researching what they want, need and incorporating it into the new products that they create. When products are created that are new and not always understood by the consumer they have to educate the consumer on the benefits of the good and how to use it. Marketing must also look at the four “P’s”. A good marketing plan, in order to satisfy customer needs, along with a needed product must also have an appropriate price, a good means of communication with the customer via promotion techniques and a way to get to the consumer, often through retailers or internet stores. In order to successfully reach customers via the 4 “P” method requires the company marketing the goods to recognize their target market.
What is a marketing program?
A marketing program is a plan that integrates the marketing mix to provide a good, service, or idea to a prospective buyer. A marketing program is a very important part of an effective relationship between a company and prospective customers. The prospective customers then either respond to the marketing plan favorably by buying the product or respond negatively by not buying the product. Once the process has been completed, it repeats. In putting together a marketing program, the company needs to decide on a product strategy, a price strategy, a promotion strategy and a place strategy. The company needs to put together the marketing mix elements for each of the target market segments.
Just about everybody and every organization markets something to an extent. Obviously businesses that are involved in manufacturing goods market their goods accordingly based on their products. Similarly, retail organizations often market themselves as the “cheapest” place to shop and occasionally as the most helpful places to shop for certain goods. Service organizations however also market their services...