Demystifying Marketing: a guide to the fundamentals for by Patrick Forsyth

By Patrick Forsyth

This ebook is a finished and available ebook overlaying all key advertising issues, with an emphasis on practicality and why advertising is necessary in engineering. Aimed essentially at non-marketing humans in need of explanation of marketing's goal, position and techniques, it may possibly offer significant impact to the method of establishing a advertising tradition inside an supplier in a manner that definitely impacts ends up in undefined. Practitioners can also enjoy the book's transparent factors and the sensible view it takes of the need for advertising and its implementation.

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Extra resources for Demystifying Marketing: a guide to the fundamentals for engineers (Iet Management of Technology Series 23)

Sample text

While on the subject of markets, it is worth noting one point: markets may be small and local or worldwide. The terminology here defines a number of aspects of this. • • Exporting tends to imply that goods – or services (so-called invisible exports) – are marketed and delivered from the country doing the exporting to other countries. International marketing, on the other hand, implies that the company itself is international and that its overseas business involves a greater presence overseas. This can, in turn, imply joint ventures, subsidiary companies and overseas offices.

But the profit motive is strong and the amount of legislation and comment suggests that there are plenty of exceptions. Even so, some businesses are motivated in this way. A recent example is OneWorldHealth, the first nonprofit pharmaceutical company, an American enterprise aiming to provide low-cost medicines to developing nations. Perhaps there is a trend here that will grow. 2 The effects of ethical/unethical marketing In practical terms, it is true to say that the way an organization conducts itself has a direct effect on consumer views of it; this is true also of the media.

5 The product in the market Even when the product is tangible and easily defined, there are other matters that necessarily affect the precise form that marketing takes. Market is a broad description. In the last chapter market segmentation was discussed. Focus on a market segment, or its smaller cousin the niche market, helps make marketing decisions easier. Instead of being directed broadly, marketing can then concentrate, more specifically, on one particular sector and tailor its approach to that.

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