Marketing Principles

Principles of Marketing
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Principle of Marketing
In marketing, a firm identifies the needs and wants of the consumers and provides the products or services needed. The key elements employed in marketing are 4Ps which include product price, promotion and place. The main aim in marketing is creating utility of the product or service in order to satisfy the needs of the consumers. It is the goal of each marketer to reach the goal of macro-marketing. The challenging part to most marketers is deciding the products to offer to the consumers. Marketing managers make a major contribution while playing their role in marketing as compared to their role regular consumer-citizens. The decision of producing and marketing appliances that may be considered energy gobbling or installing expensive safety devices that will be costly to the consumers entirely lies with the marketing manager (Kotler 2012).
Marketing managers ought to empathize with the consumers wants and their long term satisfaction. This entails creation of marketing mix that is satis...