Market and marketing concept

Marketing concept

The marketing concept is to satisfy a customer’s needs by offering the appropriate products or services to achieve a competitive advantage. These concepts include.

Production conceptis based on having readily available products in large volumes, and cheaper to attract more consumers and have high profits.

Product conceptoffers quality products to customers. This concept believes that potential customers and loyalty to a product are closely tied up in the sense that if a particular product offers good quality, innovation, and performance, customers will develop an obsession with it.

Societal marketingbelieves in giving back to society by producing better products to make society a better place. It is the modern-day marketing strategy.

The selling conceptbelieves that products can be produced and sold to the target market without considering their wants and needs. All that is required is an aggressive selling strategy.

Marketing concept– all activities are geared towards a consumer since the business aims to understand the needs and wants of a consumer and execute them. The strategy puts the consumer at the centre of the business.

A marketing mix is a set of tactics, price, place, product, and promotion marketing tools that a firm uses to pursue its objectives in a target market. Here is an example with the view of HP company

Marketing Communication Mix

The marketing mix utilizes the 4Ps (Product, Price, Place Promotion) and companies rely on the mix to penetrate the market. Other advertising methodologies such as item advancement, promotion speculation, client experience, and alternative combination are used to achieve the business objective. Marketing communication mix is valuable to the brand with development. Advertisement plans also help organizations accomplish business objectives and targets, and ‘4Ps’ is the generally the utilized structure to characterize the techniques. We shall use an example of HP company marketing communication when targeting the china market to explain the techniques.

Product Strategy 

Hewlett-Packard is a dealer in computer hardware and software. The main product to offer in the china market is a computer with the laptop as the top product in the market as demand for technology increases. Schools and businesses need computers to resume daily routines while keeping social distance.   

Price Strategy

The beauty of HP company is that it has items for high-end consumers and low-income consumers. In this case, targeting low-income earners will neither affect its reputation nor degrade the quality of the brand. Chinese are sensitive about price and brand. The largest population in china shun expensive products, and at the same time, are loyal to their preferred. Diversified pricing will cater to the enormous Chinese market and increase sales.  

Place and Distribution Strategy

The company will sell its products directly to the primary buyers and indirectly through selling to other businesses. Distribution to the consumer will take advantage of limited trust between online buyers and sellers in china. Amazon failed in China because the company operated cash by order, and customers also demanded money on delivery. HP will emulate the use of an intermediary from Alibaba’s online payment strategy. Online distribution will reduce transportation costs and minimize the spread of diseases while the world is still battling to control the coronavirus spread.  

Promotion and Advertising Strategy

The company will spread ad campaigns through the internet while targeting social media pages and internet ads. China’s technology advances and most users of its products have access to the internet. Online marketing ads can be conditioned to target only relevant groups. Online ads are also cost-effective when used wisely. The message in the campaign will be one-stop. One-stop resonates with customers who would want to acquire technological gadgets they need from one reliable provider. One-stop also means that customers get their products from HP and serve them for a lifetime without replacing them due to wear and tear.  

 Market segmentation is the process of dividing a target market into a smaller homogeneous group based on a particular characteristic like population, location, interest, and needs.

Total quality management this approach is based on product and service consistency so the organization can achieve long-term success through customer satisfaction.

Back to Lesson
Emmanuel Addo
Founder
Facebook Youtube Instagram

Emmanuel Addo is the founder of the Young Global Leaders Network, an international non-governmental organization registered in six (6) countries namely, Ghana, United Kingdom, Nigeria, Sierra Leone, Democratic Republic of Congo, and South Sudan and has a membership strength of over 15,000 young black professionals, students, graduates, and aspiring leaders.

The organization also operates in 25 other African countries. Emmanuel also doubles as the chief convener and founder of the Young African Leaders Summit, one of the largest continental youth summits in Africa.  

Currently works at Kingston University as a Business Engagement Team Member in their Partnerships and Engagement Department. 

He characterizes energy, integrity, result-oriented, and ground-breaking service in each detail of strategic management, change management, stakeholder management, and leadership acquaintances.
Emmanuel owns a core background in Sociology and Psychology from the University of Ghana.

Leveraging his experience as a youth activist and a dynamic young man, Emmanuel founded the Young Global Leaders Network, a youth organization that comprises young diplomats, young politicians, and aspiring politicians, business/entrepreneurial business leaders with the aim of championing a mutual agenda for the African youth and promoting youth participation in governance as well as promoting entrepreneurial culture.
Emmanuel nurtures an environment of teamwork and has expertise in data collection and analysis as well as both quantitative and qualitative methods.

Emmanuel worked as an Associate Lecturer at the London College of Advanced Management where he delivered a wide range of business management courses that involved principles of marketing, leadership, operation management, and research methods. Emmanuel has always maintained high teaching and learning standards to ensure that his students’ stand out in academic achievements and successful progression. As a stout believer and passionate key player in volunteering; Emmanuel creates quality time to giving back gladly to his community what he has learned and to educate individuals with free consultancy on career development. He is a leader anyone would love to look up to and with great integrity, commitment, and passion to make the world a better place.
Emmanuel worked as Qualifications Manager at the Open University in the UK.

Emmanuel is also the founder of Kickstart Innovation Hub Ltd, the entrepreneurial hub of Young Global Leaders Network.