FINAL PROJECT WORK: EIGHTH CYCLE

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FINAL PROJECT WORK: EIGHTH CYCLE

CONSUMER INSIGHTS         

STUDENT’S NAME: Gleny Ivonne Franco Rivera

TEACHER’S NAME: Rosario Vargas Vilca

SCHEDULE: 8:45 a.m. - 9:20 a.m.

PRESENTATION’S DAY: May

Arequipa – Peru

2018

THE ROLE OF MARKETING

      I.        DESCRIPTION

When I was a child I used to think of marketing as just being about advertising and selling of products. Now, I notice I had a very limited view because marketing embraces much more than just telling people about a product and selling it to them. Nowadays, we can find a lot of definitions about marketing but, what I like the most is the definition given by Rolando Arellano, a Peruvian old hand in this issue, who says “Marketing is not just selling, it is that customers buy you again”

First of all, marketing activities are all those associated with identifying the particular wants and needs of target-market customers. In addition to, trying to satisfy those customer needs better than your competitors do.

Second, this department has to carry the ball for market research and for analyzing the results of this research in order to identify correctly the consumer wants. After, this information will be discussed with other departments of the business (human resources, finance and accounts, and operation management) so that the right product decisions are made and all the team sees eye to eye. Once a product is available for sale, the marketing function will have to make important decisions concerning its pricing, how and where to promote it and how to sell and distribute it for sale. Those things are called the 4 Ps of marketing. (Product, Place, Price, and Promotion) or just marketing mix.

Third, the current marketing has two fundamental aspects, one of knowledge and the other of experience. Both are linked and complemented. This starts with theoretical bases so that with the experience a research and application of integral market can be realized.

Without marketing, a company could not survive in the market. In other words, without marketing, we could not know the consumer and, therefore, what they want or seeks.

Without marketing, companies could not define niche markets to which they directly go. Thus, if the company manages to know and understand the consumer whom it is directed, offering the quality it seeks, it will create a strong relationship with the consumer and the organization sales will increase significantly.

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