LO1: Understand the concept and process of marketing(1.1)The marketing process can be defined as the interaction between customers with their needs and wants and the company with its satisfactory offers available to consumer consumers. The marketing process consists of four phases and each phase aims to create value for target consumers. Each element of the marketing process can run annually, run continuously, or last decades. Some of the factors that will take decades are segmentation, targeting and positioning. The four elements of marketing are as follows and each element is a vital part of successful marketing for the company. The first element of the marketing process is research. This involves conducting market research to determine what the market is missing and what may be available to consumers that does not already exist in the current market and gathering feedback from consumers on what their feelings are towards this product. Secondly, the strategy is drawn up after the market research and this is conducted so that there is a clear idea of the position of the product at the moment and what factors are needed for the company to beat the business competitors and be successful in the current market. Planning is the phase that involves the marketing plan of sales forecasting, financial planning and communication strategy to understand how the company will achieve its strategic objectives in the future. The tactic is used by the company to think of short-term plans that will attract customers, beat competitors, increase sales, and provide better value for customers or any other short-term goals that need to be achieved.(1.2) Boots puts its customers at the heart of the business......at the heart of the card......however, international marketing will have endless opportunities and product line as it approaches a wider audience. - National marketing will have fewer advantages and more disadvantages than international marketing and as international marketing approaches a larger audience, it will have more sales and more business to conduct. - International marketing will allow for the use and sharing of more technologies recent, however, this minimizes the use of technology in internal marketing. - International marketing can help create a better connection for countries and their trading systems; however, national marketing cannot allow this as it is only local. - In domestic marketing there are no limitations, but in international marketing there are many limitations that need to be followed, for example cultural differences, language, currency, traditions and customs.
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