Satisfying Customers Needs And Wants Marketing Essay

Satisfying Customers Needs And Wants Marketing Essay Marketing has often been defined in terms of satisfying customers needs and wants. Critics however maintain that marketing goes beyond that and creates needs and wants that did not exist before, According to these critics, marketers encourage consumers to spend more money than they should on goods and services they really do not need. Marketing process can be explained as creating value for customers and building customer relationship by doing this the organisation makes profit The various elements of marketing process can be classified as follow Fig 1 Understanding the market place and customers needs and wants is achieved through in-depth market research and thereby identifying a product gap or needs gap. This will involve trends , how to make things easier , comfortable, better and user friendly. In the early 80s there were few or no mobile phones. A thorough market research has created the need for mobile phones, then came the massive first generation mobile phones. This were later followed by smaller ones and these days we can see the smart phones with inbuilt cameras, time online movies and news ability to actual work from your mobile Samsung note to the new tablets. Every day specialist market research companies, innovators, technicians and scientist all work hand on hand to create a new niche market or brand that makes our lives much more comfortable. Even the pay as you go concept became apparent as people could not continue to pay the incredible high cost then been charged by manufacturers who were looking at ways to cover the cost of their research and development. So the critics may not be far from the truth but the ideal is marketers coming with ways and products that makes our lives easy. Design a customer driven marketing strategy. Marketing strategy is a long term means of achieving a corporate objective. If we take the example of the mobile phone industry where the likes of Samsung, IPhone, Nokia are in serious competition each as to design a marketing strategy to capture a share of the market. Like a military personnel will define the art of going to warfare. Marketing program that delivers superior value : This refers to the marketing mix that is the 4ps Usually referring to E. Jerome McCarthys  [1]  Ã‚  4 P classifications for developing an effective marketing strategy, which encompasses: product, price, placement (distribution) and promotion. When its a consumer-centric marketing mix, it  has been extended to include  three more Ps: people, process and physical evidence, and  three Cs: cost, consumer and competitor. Depending on the industry and the target of the marketing plan, marketing managers will take various approaches to each of the four Ps. The benefits and cost of marketing orientation Market orientation is the understanding of customers requirement and creation of marketing mix which will meet these needs. Market driven means the firms capability to understand, attract and keep valuable customers G. Armstrong and P. Kotler define marketing as social and managing process by which the individuals and groups procure what they need by creating and exchanging values with others.  [2]   A market-oriented company is in a position to achieve competitive advantage thanks to its unique innovative approach to customers. In addition to this, according to the opinion of P. R. Dickson, a competitive advantage should be understood in the sense of dynamics of competition. He expresses disagreement with the standpoint of neoclassic theory of market equilibrium and claims that the main characteristic of the market is its disequilibrium. He sees marketing as a science and skill of creating changes (disequilibrium) in the market in the manner that would provide for the changes that are beneficial for the company. Various responses of salespersons and customers to changes in supply and demand, thinks Dickson, create possibilities that could be used by the company that understands market. He underlines the importance of adjusting company to the market occurrences.  [3]   Benefits and cost of market orientation Figure 2: Customer relationship groups Source: G. Armstrong, P. Kotler, Marketing: An Introduction, 7. ed., Pearson/Prentice-Hall, Upper Saddle River, NJ, 2005, p. 25. The above summaries the benefits and cost of market Orientation other advantages and disadvantages. Responding to Demand Building Customer Value Disadvantages Extensive and Expensive Research and Increased cost. Micro and Macro environmental factors that affect marketing Decision The micro environmental factors are factors that can be controlled by the organisation and relates directly with the business these are considered using the factors in fig 3 Micro Environmental factors Fig 3 Fig 4 shows how different public affects organisation. The public that affect the marketing decision of the yet they can be controlled and are regarded as micro are the relation with the following members of this public e.g Financial public this is based on say for example the organisations annual returns. Fig 4 Macro Environmental Factors The Target market for mobile phones companies and IT companies are more likely to be the high income earning spectrum of the society or the new graduates and the city bankers and young people in the top echelon of society who will be able to afford the integrated packages that are about to be launched into the market very soon The package will include home entertainment, office package, security package, phone and video calls and financial/banking package all launched as one integrated hand held device. Market segmentation, and Target is followed by positioning, this should be developed and implemented by creating an image for the product, profiling the target market, High Tech gadgets like this integrated hand held device will be bought based on the technical specification what comfort or ease of doing a task it provide. Buying Behaviourur is the way and act of people involved in buying and using products. To understand these we need to consider, why a buyer will make a purchase, what factors influence will influence a buyer to buy a certain product. Buying Behaviour refers to how people will behave when buying a certain product. A firm needs to consider and study buying behaviourur and peoples reactions to the organisation marketing strategy has this will have great impact on the firms success. The marketing concept show how a marketing mix (MM) that satisfies (gives utility to) customers, hence it important to understand the what, where, when and how consumers buy. Stages of the Consumer Buying Process There are Six Stages to the Consumer Buying Decision Process (For complex decisions). Problem Recognition Information search The evoked set. Evaluation of Alternatives Purchase decision- Post Purchase decision Buying behaviour is often determined by the level of consumer involvement in the purchase decisions, the importance and level of interest the consumer decisions is determined by the motivation to seek information about the product or service. High involvement purchase such as buy a luxury car or other expensive items. Also the element of risk involved in the use of the product that is the social risk and the economic risk. The four type of consumer buying behaviour: Routine Response/Programmed Behaviourr, Limited Decision Making, Extensive Decision Making/Complex, impulse buying, Routine Response/Programmed behaviour this are low involvement very little or no decision effort is required E.g. A can drink . Limited Decision Making- This are product bought occasionally example are like clothing but not brands Extensive Decision Making/Complex: This involves unfamiliar, expensive and infrequently bought goods. It involves a high degree of economic performance, and psychological risk. e.g. cars, homes, computers, it also involves a lot of time seeking information and deciding. and consumers will go through all six stages of the buying process. Impulse buying, this are purchase which are unplanned it like buying chewing gum in the Conner shop without actually thinking about it. Also prices at time lead to impulse buying. They are usually low valued items. Ethan Lyon said The goal of market positioning is to find the ideal opportunity in the market based on customer needs, market forces and financial and strategic considerations. Once the market opportunity is identified then the organisation can further develop its product and elevate its brand to deliver outstanding value. To clarify the market position, the firm will need to find an overarching theme, then define the details. (sparxoo.com) Brand Idea-The idea is an aspirational concept it defines the idea of what the company. For example the Samsung note goes with the concept of designed for human Value Proposition- A customer or a consumer buyers the Samsung note they see high value and high quality Differentiating Attributes-Samsung has distinguished itself from Apple by targeting the main stream yet providing quality and comparable or better phones than those provided by Apple Word count1450

Persuasive Speech Essay

It has been proven that wellness programs in the workplace can increase productivity and elevate work environment moods while decreasing health related work issues and decreasing overall companywide health care costs. By taking some simple steps toward implementing a wellness program in the workplace we will be able to save money on health care, cut down on health issues that increase absenteeism, and increase productivity through more energy and upbeat attitudes. Why do we as a company want to implement a wellness program? There are many beneficial reasons for doing so. We will decrease unnecessary costs due to unhealthy lifestyles. For example; Healthier employee’s leads to lower premiums and healthier employees also lead to less missed days and injuries. Also, healthy employees are more success oriented. This can be seen by increased productivity and the fact that healthy minds bring healthy attitudes and stronger morale. So now you are saying to yourself that this sounds g reat, but it must be complicated to initiate a program of this nature. Well let’s look at the steps needed to implement a wellness program in our office. To begin, we would want to survey our employees to find the goals we want to achieve, and then determine what we need to accomplish these goals. After setting our goals it may be in our best interests to consult with a firm that specializes in designing and implementing workplace wellness programs. By setting the goals and consulting with specialists we can now start to create a budget through the use of data that is based on our investment to return ratio. It is important to determine our company’s monetary investment so that the program itself will not suffer from interruptions or lack of funding. It may also help to create a rewards system to enhance companywide involvement. So now we have a wellness program designed that is based off of our group goals, a budget in place, and the program is ready to be implemented. It will now become important to keep the program running smoothly. By the use of meetings we can discuss our movement towards our goals and highlight positive personal stories. We could also provide health and wellness screening that can give both the employees and our company important feedback. Also we could look into group packages for gyms and health clubs. Lastly, by using reward based games we can continue to provide motivation and this will assist in keeping maximum involvement in the company wellness program. In closing, I know that if we as a company initiate a workplace

Ragging in Colleges Essay

The accurate meaning of the word ‘ragging’ is to ‘tease’, but even the dictionary says it is an archaic meaning. The main objective of ragging is to ‘break the ice’ between the senior students and the new entrants. Ragging is any disorderly conduct whether spoken or written or by an act which causes annoyance, hardship or psychological harm or raises fear or shame in a student. It is generally committed by ‘senior’ students, upon the first year students. Ragging generally takes place in colleges and hostels. The new students feel that they are in for a series of practical jokes at the hands of the senior students. Once they fall into the clutches of the latter, they don’t find a way to escape. There are a few senior students in every hostel who don’t take enough interest in studies. They indulge in ragging, bullying etc. They create an image of themselves as rowdies. No one dares to interfere with their ways. Ragging o riginated in the west. But today, it has reached the Indian society too. Some people feel that it is a socio-cultural problem. The truth is that in some cases, ragging has occasionally, ended in fighting, serious injuries, and even deaths, leading to the ruin of some brilliant careers. Senior students tease the new students about their looks and manners. Students wearing glasses, have their glasses snatched away and are made to read without them. Sometimes the eatables brought by the new students are eaten by the seniors in the formers’ presence. A new student who resists becomes a target for harassment.During the trail, he might be forced to admit his guilt, he is pressurised by physical threats and humiliation. After the trail, the accused asked to polish the shoes of his senior students. Ragging has some positive effect too on the new students. It influences the new students to behave in a socially acceptable way. It makes one change one’ eccentric behavior. It creates self- awareness. Those who endure it get emboldened. They become courageous. They get used to facing hardships in life. They learn to face unpleasant situation boldly. Many a time, it is seen that the juniors and the seniors become very good friends after the ragging period. In the beginning, ‘ragging’ was an amusing practice. it has degen erated into an evil. It has become a synonym for ‘torture’. It should be banned. The supreme court of India has defined it as. â€Å"Any disorderly conduct whether by words spoken, or written or by act which adversely affect the physique or psyche of fresher or a junior student is an act of ragging.† But if through  ragging the decency and morals are violated, one’s body gets injured, if any wrongful restraint and criminals intimidation is involved in it, then ragging becomes a legal offence. More effective steps need to be taken to deal with the evil. Institutes should arrange counseling session for fresher so that they can speak their mind. Anti ragging cells should also be established. A fresher party should be organized by the institutes itself within town weeks of the academic session so that junior and senior can easily interact with one another.

Patient Protection And Affordable Care Act - 1365 Words

As the nation moves in the direction of practical application of the Patient Protection and Affordable Care Act, understanding the capability of change will require tremendous uplift of the American human services conveyance. Keeping that in mind, the new law looks to reinforce the country s essential care establishment through upgraded repayment rates for suppliers and the utilization of imaginative conveyance models, for example, persistent focused medical homes. Evidences recommend that these methodologies can return considerable advantages to both patients and suppliers by expanding access to essential care administrations, decreasing regulatory limitations and loads, and encouraging coordination over the continuum of care (Davis,†¦show more content†¦It is proposed to address three primary zones: access to medical coverage, social insurance costs, and the conveyance of care. Certain components of the law got to be distinctly dynamic not too long after its entry in 2010, yet most arrangements produced results in 2014. 2010 In this year, for those retiring between the ages of 55 and 65, ACA provided funding to the employers. For small businesses, having less than 25 employees, tax credits are provided by the federal government to cover a part of the contribution. A new Patient’s bill of Rights has been established. Coverage to children under 19 with pre-existing health conditions cannot be denied by the insurance companies. Parents’ insurance covers for the young adults until 26 (French, 2016). 2011 For 5 years, a 10% bonus payment has been provided from Medicare to the PCP’s (French, 2016). 2012 A new annual fee has been imposed on the pharmaceutical marketing sector to create a value based purchase program for the Medicare (French, 2016). 2013 An initial enrollment program has been initiated for individual health insurance marketplace. To test the models for reimbursement, Bundled Payments for Care Initiative have been created. Medicare Reimbursement rates have been enhanced for the primary care services provided by the PCP’s. 2.3% excise tax has been imposed on any taxable medical device (French, 2016). 2014 Based on the pre-existing conditions, pricesShow MoreRelatedThe Patient Protection And Affordable Care Act1057 Words   |  5 PagesMaureen Omondi Patrick Gilbert Govt 2305 5 February 2015 The Patient Protection and Affordable Care Act The Patient Protection and Affordable care Act also known as Affordable Care Act, Obama Care and ACA is an act signed into law by the current president of the United States, Barack Obama in March 23, 2010. Beginning in 2014, any failure to purchase minimum coverage will result in a person being fined. 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