Marketing Explanation Essay

Background of securities industryingStarting In the 1920s it was the production era. A product was thought to be ripe(p) if it was bought by a client. Producers could only sell what they could produce. From the 1950s merchandise was shown in a sales era. Customers didnt taint anything unless they needed it. Communication and persuading guests to buy your good was now stronger then it was so some companies goods were better than others. From the mid-sixties onwards closely markets have become saturated (the size of the market remains the same). This means that there is now intense rival for customers. The sophistication of marketing management has therefore developed into what we now see in a modern marketing department.Marketers be involved at a strategic level inside the arrangement and therefore inform an organisation ab issue what should be produced, where it should be sold, how much should be charged for it and how it should be communicated to consumers. Modern markete rs research markets and consumers. They attempt to understand consumer needs (and potential needs) and portion organisational resources appropriately to meet these needs. Modern marketers are particularly interested in brands. They are also increasingly interested in ensuring that employees understand marketing, i.e. that everyone within the organisation involves themselves with marketing activities. Started from the 1990s organisation had to start considering what customers actually regard and had to form relationships to create loyal customers.Function of marketingThe function of marketing is to encompass the whole process of deciding which product and services the customer will want and how will they be delivered to the customer. ( travel & Tourism loudness 1, rogue 112)What are the aims of marketing?* Meet customers needs* Know the competition* Manage any threats* Research customers need* Know the market market MixThe marketing mix describes the key elements that an organis ation uses to inform and bend and meet the customers needs using the 4 Ps. The 4 Ps are* yield* expenditure* Place* PromotionProduct a product is anything that is offered to the market engineer that can satisfy a customers perceived need (Eric Davies, Successful marketing book, 2012, page 78) Price How much the product is existence sold to the customer for? Place The place of marketing focus of how the product is contri stilled to the customers and where it is being stored. Promotion who the product is being sold to ( locate audience) Marketing Segmentation marketing cleavage is the way how the target market is divided into different sectors that are a best travel for them. The 4 groups are* Demographic* Social-economic* Geographical* PsychographDemographic segmentation Gender, age, income, admit type, and education level are common demographic variables. (http//www.decisionanalyst.com)Social-economic segmentation mainly split youre through your personality. The main groups are consumer attitudes, values, behaviours, emotions, perceptions, beliefs, and interests. Geographical segmentation This is based on where you live e.g. post code Psychographic segmentation This is by chance the most common form of market segmentation, wherein companies segment the market by attacking a restricted geographic area. For example, corporations may choose to market their brands in certain countries, but not in others. (http//www.decisionanalyst.com)E-marketing The process of using digital engineering science to market products and services.Company ethos Values and beliefs that define the company, unremarkably expressed in vision & mission statements. Virgin Atlantic representation StatementSafety, security and consistent delivery of the basics are the stern of everything we do.The success of our three year strategy requires us to build on these foundations by focusing on the business and leisure markets and driving aptitude and effectiveness. (http//www.virgin-atl antic.com)Ryanair Mission StatementRyanair will become Europes most profitable lowest cost airline by rolling out our proven low-fare-no-frills service in all markets in which we operate, to the benefit of our passengers, deal and shareholders. Ryanairs objective is to firmly establish itself as Europes leading low-faresscheduled passenger airline through continued improvements and expandedofferings of its low-fare service. Ryanairs finale is to provide a no frills service with low fares designed to construct demand. (http//www.scribd.com)Consumer protection Rules & legislations that protect customers from many bad problems e.g. fraud, flight delay. There are 3 Main act that cover consumers. They are* The Consumer telephone number 1987* entropy shelter Act 1998* The raw In Consumer Contract Regulations 1999The Consumer Act 1987 An Act to make provide with respect to the liability of persons for damage caused by bad products to consolidate with amendments the Consumer Safety Act 1978 and the Consumer Safety (Amendment) Act 1986 to make provision with respect to the giving of price indications to amend Part I of the wellness and Safety at Work etc. Act 1974 and sections 31 and 80 of the Explosives Act 1875 to repeal the Trade Descriptions Act 1972 and the Fabrics (Misdescription) Act 1913 and for connected subroutines. (http//www.legislation.gov.uk, fifteenth whitethorn 1987)So if there was an item on the plane that says its 69p but its scanned as 80p you have a right to purchase it for 69p. Data Protection Act 1998 The Data Protection Act (DPA) gives individuals the right to know what tuition is held about them, and provides a framework to ensure that personal information is handled properly. (http//www.admin.ox.ac.uk)The Unfair In Consumer Contract Regulations 1999 The Unfair Terms in Consumer Contracts Regulations 1999 (SI 1999 No 2083) (the Regulations) understand that, in many circumstances, consumers have no power or influence over the details of the experimental conditions which they are asked to agree to when entering into consumer contracts. The purpose of the Regulations is to set a framework within which firms must work when draft up their contact terms and conditions, and appoints certain third parties (known as strait Bodies) who are authorized to challenge firms when they think a particular term is unfair. (http//www.cml.org.uk)Standards of practice The advertising standards authority is an independent body set up to police the rules for advertising, sales, promotion and direct marketing. The system is aiming to protect consumers and maintain the uprightness or marketing communications.P.E.S.TP.E.S.T stands for* P- political* E- economic* S- sociocultural* T- technologicalTravel & tourism organisations have to be aware of the external factors that affect or influence their business.Political factorsSome political factors that would affect an organisation are* Changes of government* Increase in tax* Security law stintingSome economic factors that would affect an organisation are* Recession* diversify rates* UnemploymentSocio-culturalSome socio-cultural factors that would affect an organisation are* More tourists* Income/trendstechnicalSome technological factors that would affect an organisation are*New technology* Websites* ITReferences1. (www.cim.co.uk)2. http//www.atkinsmarketingsolutions.com/wp/2011/04/07/dr-philip-kotler-defines-marketing/ Friday, 16 November 2012 3. (Eric Davies, Successful marketing book, 2012, page 8)4. (Travel & Tourism book 1, Page 112)5. (Eric Davies, Successful marketing book, 2012, page 78)6. (http//www.decisionanalyst.com/publ_art/marketsegmentation.dai) 7. (http//www.decisionanalyst.com/publ_art/marketsegmentation.dai) 8. (http//www.virgin-atlantic.com/en/gb/allaboutus/missionstatement/index.jsp) 9. (http//www.scribd.com/doc/80225985/Marketing-Plan-for-Ryanair) 10. (http//www.legislation.gov.uk/ukpga/1987/43,15th May 1987) 11. (http//www.admin.ox.ac.uk/datapr otection/)