Essays24.com - Term Papers and Free Essays
Search

Study Purpose

Essay by 24  •  July 26, 2010  •  2,928 Words (12 Pages)  •  1,075 Views

Essay Preview: Study Purpose

Report this essay
Page 1 of 12

1. Introduction: Marketing

We are exposed to so much advertising and personal selling that most people link marketing The word marketing encompasses such a broad scope of activities and ideas that settling one definition is often difficult to those activities. But marketing begins long before a product hits the shelf. It involves analysing customer needs, obtaining the information necessary to design and produce goods or services that match buyers' expectations, satisfying customers' preferences and creating and maintaining relations with customers and suppliers. Marketing activities applies to profit oriented business such as Apple Inc., Tesco, GAP Inc, and to non profit organisations such as UNICEF, Red Cross, UN, Save the Children even as well to government agencies such as US postal services, NHS. Today's definitions take all these factors into account. In simple words, Marketing is the process of determining what product or services may be the interest of the customers, and the strategy to use in sales, communication and business development. It is an organisational function and a set off processes of creating, communicating and delivering value to customers and for managing customers' relationship in the way that benefits the organisations and the stake holders. The Americans Marketing Association developed the definition of the marketing: - "Marketing is the process of planning and executing the conception, pricing, promotion and distribution of the ideas, goods, and services, to create exchanges that satisfy individual and organisational goals" . In this strict definition, marketing begins with the production of goods and services and ends when the goods or service reach the consumer or the user. A boarder definition is more accurate in today's rapidly changing competitive environment. Marketing actually begins with the idea for the product or services and ends only after the consumer has had sufficient time to evaluate the product thoroughly. The following definition is more applicable in this competitive world according to my point of view: Marketing is the process by which decisions are made in a totally interrelated changing business environment on all the activities that facilitates exchange in order that the targeted group of customers are satisfied and the defined objectives are accomplished.

According to Drucker, "Marketing is not only much boarder than selling, it is not a specialized activity at all; It encompasses the entire business. It is the whole business seen from the point of view of the final result, that is, from the customers' point of view. Concern and responsibility for marketing must therefore permeate all areas of enterprises".

According to Kotler and Armstrong (2004) "Marketing is a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and values with others".

The Chartered Institute of Marketing defines marketing as "the management process that identifies, anticipates and satisfies customer requirements profitably".

The organization I've chosen is PEPSI co. Inc. The PepsiCo, Inc. is currently one of the most successful consumer products company in the world with annual revenues exceeding $30 billion and has more than 480,000 employees. PepsiCo, Inc. began as a successor to a company incorporated in 1931, known as Loft Inc. Once known as Pepsi-Cola, the company expanded its business and adopted its current name, PepsiCo, after a merger with Frito-Lay in 1965.This merger dramatically increased PepsiCo's market potential and set the foundation for the company's tremendous growth. PepsiCo's products are recognized and are most respected all around the globe. Currently, Pepsi Co divisions operate in three major US and international businesses: beverages, snack foods, and restaurants. In each of these businesses, PepsiCo has attained a leadership position as being the world leader in soft drink bottling, the world largest snack chip producer, and the world largest franchised and company operated restaurant system. The corporations increasing success has been based on high standards of performance, marketing strategies, competitiveness, determination, commitment, and the personal and professional integrity of their people, products and business practices.

PepsiCo's overall mission is to increase the value of our shareholders' investments through sales growth, investments and financial activities. PepsiCo believes their success depends upon the quality and value of their products by providing a safe, whole some, economically efficient and a healthy environment for their customers; and by providing a fair return to their investors while maintaining the highest standards of integrity.

Figure1: Logo of Pepsi

1.2Eras of Marketing:

The role of marketing and the firm has been evolved for almost a century, ever since marketing was recognized as a distinct human activity. For most of history marketing was thought of as a social, economic process through which goods and services were exchanged between the buyers and sellers, activities that even preceded the existence of the money and the market economy. As the time goes and the world converts into the economic world where the value of money increases the concept and thinking of marketing also keep on changing. The way of considering or defining marketing has been changed from the old time period to this new challenging business environment. The concept and applications for marketing kept on changing according to the change in business environment. The important four eras of the marketing are listed in the table and described below.

Era | Time Period | Prevailing Attitude |

1.Production Era | Prior to 1920s | ' A good product will sell itself ' |

2.Sales Era | Prior to 1950s | 'Creative advertising and will overcome consumers resistance and persuade them to buy' |

3.Marketing Era | Since 1950s | 'The Consumers rule! Find a need and fill it' |

4.Relationship Era | Since 1990s | 'Long term relationships with customers and other partners lead to success' |

Table 1: Eras of Marketing

1.3: Concept of Marketing:

-Marketing Concept: The marketing concept

...

...

Download as:   txt (16.6 Kb)   pdf (173.1 Kb)   docx (15.4 Kb)  
Continue for 11 more pages »
Only available on Essays24.com
Citation Generator

(2010, 07). Study Purpose. Essays24.com. Retrieved 07, 2010, from https://www.essays24.com/essay/Study-Purpose/271.html

"Study Purpose" Essays24.com. 07 2010. 2010. 07 2010 <https://www.essays24.com/essay/Study-Purpose/271.html>.

"Study Purpose." Essays24.com. Essays24.com, 07 2010. Web. 07 2010. <https://www.essays24.com/essay/Study-Purpose/271.html>.

"Study Purpose." Essays24.com. 07, 2010. Accessed 07, 2010. https://www.essays24.com/essay/Study-Purpose/271.html.