AbstractMarketing management is very essential for any business organization. This is because it entails aspects that guide a business towards the desired success. Marketing management is achieved through proper customer relations which in turn, lead to profits maximization for the organization. The paper explores the concepts used in marketing management and how they are used for the purpose of making profits as well as satisfying the customers. This is in relation to Coca Cola Company which focuses on the manufacture of soft drinks both locally and internationally. The needs of the customers have also been discussed in the report and it mainly acts as the benchmark for the marketing concepts used by the company.
The approach used during the research was mainly interviewing the marketing team of the company for the purpose of obtaining relevant and accurate data. Literature review was also utilized during the research. The report was able to establish that the company utilizes eight of the most important marketing concepts which have led to the success of the company. It was established that the company has been able to satisfy its customers through proper marketing and coming up with products required by the customers.
The report concludes by stating that the marketing concepts are important in terms of achieving the aims and objectives of a business organization. The report also recommends that the company should put in place measures to exploit new markets and also enhance the product lifecycle so as to satisfy the customers better. These are concepts that are important in marketing and lead to success of an organization as discussed in the paper. IntroductionMarketing involves delivering the needs of customers satisfactorily with the aims of making profits (Gary, 2008).
The marketing process is complex in nature and it involves various parties. The main parties are consumers and the sellers. Marking entails various components and concepts that require a lot of attention and analysis for a company or business enterprise to succeed. The market environment is an important consideration before engaging in the marketing process. This involves thorough analysis of all the stakeholders and players in the sector. Strategies are also important during marketing as it determines the ability to influence customers and satisfy them.
Buying behavior is also an important concept during marketing as it acts as a guide to the process. The buying behavior of customers is an important determining factor for the success of any product in the market. The marketing process also involves business to business and the use of information technology also plays an important role during marketing. The marketing concepts are mainly for the purpose of ensuring that the business organization or company achieves its main goals and objectives which in most cases is customer satisfaction.
The paper thus discuses the marketing concepts in relation to Coca Cola company which is among the most successful multinationals due to its effective marketing concepts (Coca cola Company, 2012). Literature ReviewAccording to Adcock (2001), marketing management is considered as one of the major elements of business. This is because it focuses on the customer relations and the operations of a business organization. Emphasis in this topic is however, on the customer satisfaction and the means of attaining it. The marketing management mainly emphasizes the need for business to shift from production to focus on the customer needs and satisfaction.
With this, the marketing management concepts explain how customer focus can be profitable to the organization. The marketing concepts also emphasizes that the only way of achieving organizational goals and objectives is through customer satisfaction. The marketing concepts thus interconnect a variety of issues that are applicable during marketing. The concepts also ensure that the business enterprise becomes profitable while the customer gets satisfied or they receive value for their money (Chekitan, 2005).