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Principals of Marketing

March 24, 2016 | Author: | Posted in marketing, mathematics and economics

Running Head : Principals of Marketing

Principals of Marketing

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Institution Name SEQ CHAPTER \h \r 1 Principle of Marketing is concerned with the accessibility of products to meet needs . Numerous consumers and businessmen do not understand the implication of marketing because of a narrow and erroneous formation of the essence of a product and of production . A common delusion is to observe a product as a physical thing , thinking of it in terms of form , shape , proportions , component parts , materials used in construction , etc , and to think of production [banner_entry_middle]

br in terms of the progression of contributing these physical attributes

On the whole , a product is not a physical thing but consists of the satisfactions or benefits that might be derived from its use or consumption . In this sense , marketing attempts is a part of the economic value of all products or service and is so treated in the divisions of a gross national product and certain of its sectors or segments

One of the least understood distinctiveness of marketing activities is their prolific nature . It is inopportune that the term “production ” is used in two diverse ways , causing substantial ambiguity and confusion In one sense , it is used to signify the result of industrial activity as in referring to the output of farms , factories , or mines . On the other hand , it is more properly used in referring to the whole productive process

Economists usually define production as the formation of economic values , which are the capacities of goods and services to persuade humanly wants . Economic value might be described as the distinctiveness of a good or service which provokes people to sacrifice their efforts either past or present , to attain it . Value is mainly dependent upon utility . The only convenient way to measure the utilities or satisfactions formed by the productive process is through the expression of values in market prices which form the foundation for exchange

I ‘m working as a marketing manager at Emirates Neon . Principle of marketing was one of my favorite subjects throughout my graduation . And this also helps me a lot in performing my job effectively

First and a foremost thing is that at `Emirates Neon ‘ Principles of marketing helps me to identify our marketing system , or structure of marketing institutions , mostly with commodity distribution industries explicitly , wholesale and retail middlemen it is clear from the foregoing instance that marketing , when considered as a process symbolizes an important activity in manufacturing firms as well , and that the importance upon a marketing conception as the justification for the manufacturing company as well as the middleman is a comparatively recent innovation

The President of General Foods Corporation has stated “Instead of trying to market what it is easiest for us to make , we should find out much more about what the consumer is keen to buy in other words , we must apply our creativity more intelligently to people , and their wants and needs , moderately than to products (Charles G . Mortimer , 1959

These paradigms , as informative some… [banner_entry_footer]

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