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  • Essay / Marketing Principle: Branding - 962

    For effective increase in sales, an organization must inform consumers about its products, product improvements that have added value to the products and how to use the product, remembering to inform consumers about the difference between their product and other similar products on the market. KnowThis.com (1998) illustrates that there are different rules or guidelines of action or conduct in the process of informing consumers of a product or service through effective marketing principles. For the survival of any organization, whether for-profit or non-profit, Marketing is an essential operational function for existence in the market and achievement of the organization's objectives. Donald (1996) explains that it is through marketing that for-profit organizations generate revenue and that nonprofit organizations attract the customers they need in order to support the nonprofit's missions through donations, among others. It is in this aspect that the public gets to know and gain insight into an organization based on how they interact with marketers. An organization must also plan direction and scope on how to integrate its marketing objectives through a marketing strategy. To develop a results-driven marketing strategy, several factors must be considered. They include: the market situation, the size of the organization, the sector in which the organization operates, the geographical location of the organization, the products it manufactures or the services it offers, the behavior of consumer purchase and target group, among other marketing concepts (McGrath 'et al' 1999).An organization must collect information about markets or customers, their products....... middle of paper..... .vestor.com 2011, Managing Downside Risk. Retrieved from: http://www.indexinvestor.com/Free/ManagingDownsideRisk.phpInvestoPedia, 2011. Downside Risk. Retrieved from: http://www.investopedia.com/terms/d/downsiderisk.asp.InvestorWords.com, 2010. Downside Risk. Retrieved from: http://www.investorwords.com/1570/downside_risk.htmlKnowThis.com, 1998. Role of Marketing. Retrieved from: http://www.knowthis.com/principles-of-marketing-tutorials/what-is-marketing/role-of-marketing/Management Study, 2008. Co-branding, types and advantages and disadvantages. Retrieved from: http://www.managementstudtguide.com/co-branding.htm.McGrath & Michael E, 1999. Product Technology for High-Tech Companies. Retrieved from: http://www.quickmba.com/marketingstrat.shtmlQuick MBA, 2019. Marketing strategy. Retrieved from: http://www.quickmba.com/marketingstrat.shtml