1. what is principle of marketing and marketing?

define marketing according

to different authors and institute view

For any business to be successful, a good marketing strategy is vital.

In basic terms marketing is about giving potential customers
information about your products or services and the reasons that they
should choose your company.

Good marketing educates customers so that they can find the

products they want, make better and more informed choices about the
products, and get the most value from them. Marketing helps facilitate
exchanges between buyers and sellers for mutual benefits for both
parties.

The same marketing principles have been around for decades. There
are four original marketing principles known as the 4Ps or the
marketing mix. By mixing these four ingredients in different ways, you
can produce a synergy between all four that drives product adoption
within your target audience.

They are interdependent and work together to complement and align

all the parts of a marketing plan. The marketing mix is fluid, allowing
the marketing team to be able to emphasise any one area as needed
based on marketing conditions and what’s best for the targeted
audience.

The 4 basic marketing principles are product, price, place and

promotion.

Product
Product is one of the most crucial principles of marketing. The product
can either be a service you provide or goods. If you want to sell a
product that is going to be profitable then you need to do thorough
research and understand your customer and what is likely to appeal to
them. You need to consider the quality of your product, how safe the
product is, and what its selling point is.

Price
This needs thorough market research, known as market-orientated
pricing. It is important to understand what your customers are willing
to pay and the price of the same type of product offered by your
competitors. You will need to determine the market value before
setting your price.

Place
This is where your products or services are available to the customer,
whether this is a shop or an online website, or both. You will need to
think about what is convenient for your customers in terms of location
and how to connect your potential customers to your location. As more
people use the internet to source products and services, a digital
presence can make a huge difference to your success.

Promotion
This involves raising awareness about your company, brand, products
or services offered. You should be giving information about your
products and reasons to use them. It involves communicating with
your target audience and making your product appeal to them.
Effectively promoting your product or services is crucial for the
success of any business.

There are a number of ways to promote your brand; this may

include:
 Advertisement – This may include social media, television or
magazine advertisements.
 Email marketing – This involves communicating or advertising
through emails.
 Sales promotions – This may include short-term promotions, or
deals for customers or prospective customers.
  Search marketing – Search marketing is generating leads from
search engines in order to drive website traffic to your website or
product.
 Direct marketing – This is when you directly reach out to your
target audience.
 Public relations – This involves presenting a favourable image
of your brand.
2. what are the three most common marketing philosophies?

Marketing is referred to as the process of creating,

communicating and delivering products for the customers in order
to satisfy their needs and wants. The purpose of a marketing
philosophy is to identify those needs and fulfil them.
Every company follows different marketing philosophies as per
their requirement. But in general, there exist five marketing
philosophies or concepts and a company should follow the right
philosophy, as per their requirements and customer needs.
The three marketing philosophies are:

1. Production Concept
2. Product Concept
3. Selling Concept
1. Production Concept: Production concept is based on the idea
that customers will prefer products that are affordable and are
produced in bulk. In this marketing concept, the aim of
organisations is to produce in bulk, increasing production
efficiency, reducing costs and distribution performed on a large
scale.
The idea of consumer demand for affordable products comes
from the Say’s law that states that “supply will create its own
demand”.
By increasing the production of the products, the companies
utilise the advantage of economies of scale. The reduced cost
price makes the product appear inexpensive to the customer
which generates more sales.
Lower price may be able to generate more customers, but with
the decline in quality the sales volume will decrease. This theory
holds good when demand is more than the supply, but a customer
will not always be looking for cheaper products, there will be
many factors that will impact the customer purchase decision.
2. Product Concept: This is another marketing philosophy that is
concerned with quality of the product rather than the quantity of
the product. The consumers are always looking out for quality
products and are not worried about price and the availability of the
product.
Companies following this approach will be creating high quality
products that will satisfy the requirements of such customers, but
it will be expensive in the process.
Since the focus of the companies is on producing quality
products, they lose out on customers that seek inexpensive
products or are influenced by availability and usability of the
product.
3. Selling Concept: This is the third philosophy and it is based on
actual selling of the product. In the earlier two philosophies or
concepts the emphasis was on production whereas selling
concept is more focused on making sales for every product, which
is irrespective of quality of the product or the needs of the
customer.
Companies following this approach have a short life span and
thus have very less repeat customers.
 4. write and define at least five core concepts of marketing

he term “concepts of marketing” refers to a broad term that includes various approaches
or philosophies utilized to promote a product or service.

These concepts serve as fundamental principles guiding the marketing process. They
form the basis for developing strategies and tactics to achieve marketing goals.

Five key concepts form the foundation of marketing:

 The production concept

 The product concept
 The selling concept
 The marketing concept
 The societal marketing concept

1. The Production Concept

The production concept suggests that people prefer products and services that are
easily available and affordable, which is essentially the idea of mass production.

Focusing your marketing efforts on this concept means you’re looking to achieve
a highly efficient production process, keep costs low, and aim to scale
production.

2. The Product Concept

The product concept emphasizes that buyers prioritize a product’s quality,
features, and benefits. Product-focused buyers seek innovation and uniqueness rather
than solely seeking the lowest price.

A prime example that exemplifies this type of marketing is Apple. Apple products are
renowned for their exceptional user experience.
They are designed to be user-friendly, intuitive, and easy to set up and update. Every
aspect, from their sleek packaging to their minimalist design and intuitive controls,
exudes elegance.

Apple sets a premium price for their products, but their dedicated fan base is willing to
pay for the superior quality and user experience they offer.

3. The Selling Concept

The selling concept is founded on the belief that customers will not purchase an
adequate quantity of a product or service unless they are actively persuaded to
do so.

This concept assumes that customers tend to be resistant and need to be convinced to
make a purchase. Marketing strategies rooted in the selling concept involve pervasive
and continuous advertising efforts.

Companies that embrace this concept often employ various techniques to sway hesitant
buyers into making a purchase. This approach is commonly utilized by companies that
have excess inventory and need to sell it in order to create space for new products.

4. The Marketing Concept

You read it right, one of the 5 marketing concepts is “the marketing concept”. While the
selling concept is all about what the company wants or needs, the marketing
concept focuses on the customer.

If you’ve hung out in marketing groups or social media pages online, you’ll have heard
discussions about concentrating on solving a customer’s problem to build a sustainable
business.
5. The Societal Marketing
The societal marketing concept takes the marketing concept further and is increasingly
becoming the concept of choice when devising a marketing strategy.

5. what is marketing environment and how environment affect the

market?write in detail

Marketing environment refers to the internal and external factors that affect a
company's ability to market and sell its products or services. External factors
can include social, economic, technological, political, and cultural forces, as well
as competitive, legal, and regulatory factors, while internal factors refer to the
company's own internal resources, capabilities, and strategies that can impact
its marketing efforts. In essence, the marketing environment provides a holistic
view of the factors that influence how a company interacts with customers and
operates within a larger context.

Marketing environment is the combination of external and internal factors and

forces that affect a company's marketing activities.
These factors affect the different realms of business. The marketing
environment drives all the major marketing decisions of a business and is
different for each organization.