Marketting

George.chite@yahoo.com

Marketing

This is an organizational function and asset of process for creating, communicating and delivering value to customers besides managing customers’ relationships in ways that benefit the organization and its stakeholders.

When venturing into marketing it is important to understand modern organization, its type and process and how strategic planning can be used to develop a competitive advantage. The market situation should be analysed to identify opportunities to satisfy unfilled customer using different framework such as: the four c analysis (company, competitors, customers and climate), PEST analysis (political, economic, social and technological) and SWOT analysis (strength, weakness, opportunity and threat). Furthermore, strategies should be planned depending on the size and specialization of the company. Planning strategy can be single or selective or product specialized. Implementation and control should be considered after Mix market decision such as product, price, place and promotion so as to accommodate mix changes to fulfill customers’ needs consistently. Also, this ensures the program moves in the direction set by the company.

When looking at the real world examples, focus on the behavior of the firm in relation to what the structural model predicts would happen. This gives the basis for analysis and evaluation of the real world situation in terms of number of firms, nature of the product produced, degree of monopoly power each company has, pricing strategies, non-price completion, output levels and the extend of barriers to entry. Monopolistic, oligopoly, duopoly and monopoly are the model mostly used to define these structures. The models helps to understand the degree of competition affecting the consumer and impact of the performance and behavior of the company or companies involved. In perfect completion, there are large number of firms with freedom of entry into and exit out of the industry. Also, the...