Principle of Marketing
Principle of marketing are those rules and regulations, process and researches, which involves in finding the customers needs, wants, and then presenting a solution for them. We may also say principles of marketing are actually all about research and development, where we first analyze the market, infect we analyze the customers needs, then come with solution. We may also principle of marketing is all about identifying new ideas for business.
The marketing environment is made up of factors that can influence the ability of a firm to provide services to its customers and to build relationships with the customers. A company should know its marketing environment so that it has an overview of its position in the market. The marketing environment of an organization is constituted by the following aspects.
Business environment is a major area which needs proper analysis before starting a particular business or project. There are internal factors and external factors which play important role in the success and performance of a business. A variety of analysis tools are available which can be used to analyze the various internal factors and external factors, to develop an understanding of the environment of the business.
Today marketing has grown into such an enormous level that it affects every individual event though majorities are not conscious of the effect. There are a number of factors that surround an organization. These factors form the marketing environment of an organization. The marketing environment has a deep influence on the organization. The marketing strategy of the company is based upon its marketing environment.
The performance of a company is affected by several factors that maneuver the company’s internal and external environment. The marketing strategies of a company can help in boosting in its performance. For a company to be successful, it is necessary that the company knows the factors which operate. Along with knowing the factor, it is essential that the company can extrapolate results on the basis of the known factors so that the company can operate in a better way within its environment.
The marketing environment defines a framework of internal and external factors that are related to an organization and have influence on it. The major impact is upon the relationship of the company with the customers, the micro environment and the macro environment constitute the Marketing Environment. The marketing intercessors can also be sometimes included in the marketing environment.
Determining the right swot analysis tools is no doubt a difficult job to ask and putting most of your efforts in determining the full potential of your brand can surely pay off, sooner or later. It helps the brand to move forward by taking advantage of strengths and opportunities, combined while minimizing the dangers of weakness and threats to your brand, and that’s what SWOT lets you do even a starter may also implement the SWOT Analysis by himself lonely. What if you have never done a SWOT Analysis before in your life? Nothing, there are number of SWOT analysis tools available there in the market, which will assist you to do SWOT Analysis in correct manners!
Research and development is one of the major functional areas of an organization that is helpful in the identification of strengths & weaknesses of the organization after proper examination. There are certain organizations that are not involved in the research & development activities while there are certain other organizations whose survival depends on the effective research and development activities. When an organization formulates & implements product development strategy, then it strongly needs potential research and development activities. It is all about the research and development of business organization that its able to introduce a new idea or product in the market. So research & development have great importance in businesses.
Marketing strategy is a way through which business try to achieve their goals in the shape of increase in sales and getting advantage over the competitors. An effective Marketing Strategy is one in which marketing goals, the action sequences and the policies are combined. A good Marketing Strategy is always drawn from the marketing research and is considered as the foundation of marketing plan.
SWOT analysis is a strategic planning tool employed to analyze the strengths, weaknesses, opportunities & threats included in any business venture, project or even in any particular situation. SWOT is first time used by Albert Humphrey, who performs a research project in 1970 at Stanford University. SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is a special game changer technique that lets one to plan ahead for his business by keeping the strengths, weaknesses, opportunities and threats of the particular field in mind. Well! At first, you might think this technique to be as complicated as the Periodic Table, but believe us, it’s a lot simpler than cramming that whole thing up. The credit of creation of this technique goes to C. Roland Christensen, William D, Edmund P, Learned and Kenneth Andrews. Despite being of 1960’s origin, this technique stood the test of time and had proved it worthy to be used as the analytical framework of almost all of the most popular brands of today. O.K. That’s enough of the formal introduction to our efforts savior (THE technique). Now, let’s dissect this thing into simpler steps to be easily understood even to those who are new here.