UNIT LEARNING OUTCOMES
At the completion of this unit a student should be able to:
LO1 Demonstrate an understanding of the role of marketing in an organisation.
LO2 Demonstrate an understanding of basic marketing concepts.
LO3 Analyse the dynamics of the marketplace.
LO4 Explain the significance of the relationship between elements of the marketing mix.
LO5 Explain the importance of ethics in marketing and marketers’ social responsibility to
colleagues, potential clients and the community.
Topics will include:
Key concepts in marketing
Marketing environment, social responsibility and ethics
Planning, implementing and evaluating marketing strategy
Market research and information systems
Consumer and business behaviour
Segmentation, target markets and positioning
Digital marketing and social networking
The power of branding
Product and service decisions
Distribution and supply chain management
Integrating marketing communications
People, process and partnerships.
David Jones pty limited is a well furnished and established Australian departmental store company since 2014 by Woolworths Holdings Limited, South African business organization. David Jones, widely known as DJs has 45 stores all over Australia and the territories. Moreover, this company is trending since 2014 across the world. In this paper, the marketing concepts of this concerned business will be assessed. Moreover, the content will give the illustrated view on the concepts of marketing including the key concepts of marketing, marketing environment, and social responsibility. The paper will give all related perspectives on marketing concepts of the company.
Marketing key concept is the standards and norms according to which the business or the farm analyzes the needs of the customers and needful decisions. In making a business well established and furnished it is important to understand the key concepts of marketing and its strategies. There are many key concepts of marketing in the business process (Armstrong, 2015). The basic and major important keys include five perspectives of marketing companies to strategize the business and design it. The basic concepts can be said as the production concepts, product concept, selling concepts, social marketing concepts and marketing concepts. These are the basic concepts that differentiate the businesses design and make the improvisations within the business organization.
In running a business or approaching the business to new marketplaces the specific business organizations need to take initials on these objectives that includes the environment of the market and the circumstances of social responsibility and ethics. The marketing environment is the process of analyzing the forces of marketing within the business enterprise (Babin, 2015). The social and ethical concerns on the facts of the standardized norms and fundamentals on that basis the business can make further steps in introducing the business in the new, market. This is an important aspect that cannot be neglected as these are the baseline of introducing the business on new market approaches.
Implementation of the planning and evaluating the marketing strategy the business organization needs to focus on the systematic research. The planning implementation is a process that attains the specific operational activities that will help in executing researched planned within the business purpose to evaluate it with the strategies (Cheung, 2015).In terms of implying the business plan and the informative strategies in the business organization, it is important to look at the planning first thing to imply.
Marketing information and research system refer to the process that concludes human resources, business types of equipment and procedures that helps in gathering small pieces of information that can be implied in the decision-making process (Dwivedi, 2015). It also helps in storing and analyzing the gathered information for the business purpose.
In running a business consumer and the business are the two fundamental characters in the business process. The buying perspective, which varies among the consumers lead great differences in the business process. Thus, it is important to rectify the attractions and choices of the consumers that can attract the consumers towards the business (Kolk, 2016). Lastly, it will help in the evaluations and improvisations within the business. Woolworths as the renowned departmental store takes focus on the consumer’s behavior as well. is a necessary concept among the customers
In a business organization there are different parts that consists marketplaces or attributes which are accessible to the profits and growth within the business process.Segmentation in the David Jones pty limited can be said the products of same brands with same prices divide into groups. These aspects can be called the segmentation of the business (Lamberton, 2016). The targeted markets of a business refers to the area where the business conducts its services and products. Through the proper strategies and implementations of these aspects, the business van secures its place which is called the positioning of the business.
In the era of socialization, the social networking platform has given the vast advantage of socializing the lifestyle and shopping. It also opened new places ion reflecting the markets with the digital marketing and social networking (Laverie, 2017). Social networking has many aspects of help in digitizing the marketing process. Digital marketing takes place on the online platform where the social networking sites such as Facebook twitter etc helps in promoting the digital business.
Branding is not just an easy aspect of the business it is a very important part of the business process. The power of brand making the product is very powerful as it provides the sum of the analysis of the product, reorganization of the brands and products and the experiences of the customers with the products (Phillips, 2016). Branding a product is a difficult task for the investor or the authorities to make fulfilled and attractive brand name which will be attracted to the customers.
In running a business it is an important and crucial aspect to look at the product's reliability and services provided to the customers. The business authorities can look upon the facts on providing services and products that can meet the customer's satisfaction and fulfill the requirements (Phillips, 2016). This is a crucial decision in the business process to initiate the business decisions that will fulfill the customers needs as well as evaluate the profitability of the business.
In a business process and setting the marketing approach the pricing is the crucial process that needs a lot of research and strategies. The business authorities focuses on the pricing process in such a way that the pricing will not affect the cost margin as well it will reach the profit margins (Tiago, 2014). Making decisions using the statistical concerns on the business aspect the business authorities also focuses on making it affordable and satisfying to the customers.
In making a business proper and established in the marketing where distribution management refers to the fact not going through the process of distributing the products and services through the suppliers and manufacturers of the business organization (Tiago, 2014). The authorities need to take focus on the maintenance of the supply chain as it will help in providing quality service to the customers at the appropriate time.
Integrated marketing and communication are the other aspects of the business organization that refers to the concerns that all communication channels of the business organization are linked together in the proper manner (Visser, 2017). Moreover, integrated marketing tools refer to the equipment and tools of communication that accomplishes the communication of the business organization.
People process and partnerships are the three fundamental perspectives of service, management of a business enterprise.Therefore, people are the most important concerns of business enterprises whereas the business focuses on the meeting the expectations of peoples in the business process (Wever, 2016). A business can be run by sole proprietorship or partnership. These are the investment or the facts of the business. These things are the part of concern in running a business in long-term.
The paper has given all the related concerned aspects of marketing which has included business integration, branding, consumers behavior, branding of a product. Moreover, it has given the illustrated views on the digital marketing and social networking that helps in the business process. Lastly, it can be said that through these objectives the learner will get clarification on the subject matter of introducing a business into a new market for the business organizations development and growth.