THE MARKETING PROCESS
There are many definitions of marketing which generally revolve around the primacy of customers as part of an exchange process. Customers needs are the starting point for all marketing activity. Marketing managers try to identify these needs and develop products which will satisfy customers needs through an exchange process. As a business philosophy, markerting puts customers at the centre of all the organisations considerations. This is reflected in basic values such as the requirement to understand and respond to customer needs and the necessity to search constantly for new market opportunities. I have set out some of the definitions of marketing below;
1. Marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably.
2. Marketing is about marshalling the resources of an organisation so that they meet the changing needs of customers on whom the organisation depends.
I am going to be looking at two organisations which are Passion Soles and Trendsetters hair and beauty Salon.
Passion Soles is a women's only shoe store in East London, Ilford. East London badly needs an upscale shoe store for women because the current stores have an inadequate selection. Currently, women that need a special pair of shoes often must travel up to Central London to find the right shoes.
Passion Soles has an unmatched, extensive selection of different shoes. Generally, the size of Passion Soles' selection is cost prohibitive due to all the different sizes that must be stocked per style. Passion Soles has a unique business model that allows them to have an extensive selection at the cost of only stocking one size per style. This is accomplished through a special relationship with the wholesaler so Passion Soles can receive a customer's needed size within two days. Rush overnight shipping is...