Marketing and Business Chapter 5

Marketing and Business أحد الأهداف الرئيسية هو العمل لخلق الثروة. لجعله ممكنا الأعمال يحتاج للوصول إلى عملائها. One of the main business objectives is to create wealth. To make this possible business needs to reach its customers. Marketing is the a way of reaching customers and making them aware what business produces and how it satisfies their needs. التسويق هو وسيلة الوصول إلى العملاء وتوعيتهم الأعمال ما ينتج وكيف يرضي احتياجاتهم. Marketing is: “management process involved in identifying, anticipating and satisfying consumer requirements profitably.” "عملية إدارة المشاركة في تحديد وتوقع وتلبية متطلبات المستهلك مربح."

What is a Marketing Mix The marketing mix is the set(ضبط) of controllable(يمكن السيطرة عليها), tactical(تكتيكي) marketing tools(أداة) that the firm blends(مزيج) to produce(لإنتاج) the response (استجابة) it wants(يريد) in the target market( السوق المستهدفة.) It is of four types: Product Price Place Promotion

What is a Marketing Mix To develop a range of products: To prevent losses or declining sales To favourably position a product: To create competitive advantage:

Developing an Integrated Marketing Mix وضع المزيج التسويقي المتكامل التركيز على

Marketing Function of Business According to Hall D., Jones R., Raffo C. (2001) following features may have contributed to arrive at marketing definition. Consumers are important: A product has greater chance of being successful if it satisfies consumers’ need. Marketing is a Process: Marketing does not need to start and end. It has to be an ongoing process. Marketing involves building relationship with customers: Through relationship marketing customers continue to buy business products over a long period of time. Marketing is a business philosophy. Marketing affects all aspects of a business. Marketing is not just about selling. Marketing and advertising are not the same. Marketing has a vital role even business is a non-profit entity. فلسفة التسويق يؤثر على جميع جوانب الأعمال التجارية

Importance of Marketing العوامل There are following four factors which are thought to have led to marketing importance. Economic growth: In many western and middle eastern countries there has been increase in consumers’ disposable income over the last 50 to 60 years. This has created demand for a variety of products and services. In response, businesses have created wider range of products and services with greater choices that led marketing to become an important tool of reaching customers. Fashion: With economic growth there has been change in fashion, lifestyles and taste of many customers. Accordingly businesses relied on marketing to reach customers. موضة

Marketing Function of Business Technology: Rapid change in technology continues businesses to invent and launch new products on market. Main examples are electronic industry, car industry and cosmetics industry. These business need to heavily rely on marketing department to design and develop new products and market them. Competition: The number of products competing for the consumer’s attention is constantly increasing. منافسة

Marketing Objectives Marketing objective are based on business goals it is trying to achieve. Following are the main marketing objectives which are likely to lead achieving business goals. To target new market or group of customers: To achieve or maintain market share: لاستهداف أسواق جديدة أو مجموعة من العملاء لتحقيق أو المحافظة على حصتها في السوق