Marketing is a comprehensive topic which involves various components. Marketing principles form a crucial part of marketing as a course and as an actual practice in marketplace. According to Armstrong and Kotler (2017), marketing is the process of satisfying needs and wants of customers. He also defined it with a narrower meaning as the procedure through which organizations engage clients, create strong customer connections, and establish customer value and ultimately gain it. Therefore, marketing becomes a crucial factor in developing a prosperous business. There exist four main principles of marketing which facilitate business people in taking their enterprises to the next level. They include comprehending the market and client needs, designing a client value-drive marketing strategy, and formulating an integrated marketing strategy and program as well as engaging clients and managing customer relations. These principles are undertaken through a procedure known as marketing process which is essential to the success of a business.
Among the four marketing principles is comprehending the market and client needs. Customers purchase products or services to fulfill their human needs. Such needs comprise conditions of experience deprivation, and they encompass physical requirements for safety, warmth, clothing, and food. Others requirements include individuals and societal needs such as requirements for knowledge and affection respectively (Armstrong & Kotler, 2017). Marketers should understand that they did not develop these needs rather these requirements are components of human beings. Therefore, to attract new customers and retain them in their business, marketers must concentrate on developing products and services which meet these needs.
Designing a client value-driven marketing plan is another fundamental marketing principle. Efforts to ensure that a marketer creates a successful marketing plan requires them to understand two critical issue. These include comprehending the kind of clients to serve and the best manner to serve them. Initially, marketers should decide whom their businesses serve, how it will serve the selected clients and design plans (Armstrong & Kotler, 2017). Furthermore, this actions facilitate them in engaging target markets and create connections with different clients. To create an effective marketing plan, marketers should think about the base of their target clients. They should also look at their competitors to know what clients look for a product to purchase it. These actions will be essential in creating an outstanding client value-driven marketing plan different from others.
Formulating an integrated marketing strategy and the program is additionally an important marketing principle. Marketing strategy reveals if a business will offer the expected customer values to the targeted clients. On the hand, marketing program creates clients connections by changing marketing plans into actions (Armstrong & Kotler, 2017). If businesses wish to reveal the actual value to customers, they must be creative, for instance, by giving advice and tutorials linked to the commodities. They can create a website or blog on a regular basis containing important information essential to clients.
The most critical marketing principle is engaging clients and managing customer relations. All the previous three discussed principles end up being incorporated into this concept. Client relationship management is the general procedure for creating and maintaining productive customer relations through offering a greater satisfaction and value. This principle deals will all activities involved in obtaining, engaging, and developing clients. Businesses should make their marketing plan exceptional to ensure they create trust with customers by allowing them to know their enterprise well. Moreover, the established trust increases clients' probability of purchase more from these enterprises.
Marketing principles are essential components in marketing. Businesses should adhere to these principles to be more successful in marketing their products and services to their target consumers. Marketers should systematically follow them without omitting or jumping any principle. This ensures that the unique requirements of a marketing process are met before moving to the next phase of the procedure. Therefore, any business which wants to excel should follow the key marketing principles to ensure they succeed while others fail.
Armstrong. G & Kotler. P. (2017). Marketing, An Introduction 13th. Edition, Pearson
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Key Marketing Principles Essay. (2022, May 17). Retrieved from https://proessays.net/essays/key-marketing-principles-essay
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