Marketing

Marketing Report

Marketing Report

Marketing Process

The marketing process is defined as gradual and incremental activity that allows organizations to understand their targeted customer segments and to formulate product/service offering and strategies that are able to create value for the customers. The marketing process that is conducted efficiently results in higher profit, high customer loyalty and high brand equity. Kotler (2008, Pp.29) has defined the marketing process as five-step model, which consists of the following elements:

Understand the customer needs and wants and the prevalent marketing practices

The aim of marketers is to design a market offering based on products, services, experiences in order to satisfy the needs or wants of the market.

To design a marketing strategy focused on creating value for the customers

This element focuses on choosing the most profitable market segments and designing strategies through selection of a value proposition that shall enable relationship building with the same (Groucutt, Leadley & Forsyth, 2004, p.479). Designing of various marketing strategies is conducted by selecting the most suitable marketing management orientation.

To develop an integrated marketing program which is able to deliver the designed strategy in order to create value?

Development of integrated marketing program helps in delivering the projected value to the targeted customers. The marketing mix tools that find humongous application in this step include Product, Price, Place and Promotion; the integration of all of which results in an integrated marketing mix.

Build profit-yielding relations with customers and creating delight for customers

This step involves activities focused on customer relationship management, which involves creating sustainable and profitable relations with customers such that high levels of customer value and satisfaction are created. At this stage, the company needs to focus on external and internal customers that shall help in achievement of the defined goals.

To create customer equity and profits by capturing value from the customers in return of value created

Creation of customer loyalty to retain the maximum number of customers is the final goal of each business organization. This involves consideration of customer lifetime value and creation of customer delight to increase the share of customer and build customer equity. For a business, it is essential that the right customers be targeted in the right manner to create the right long-term relationships.

Marketing Orientation 

The organization chosen for the discussion is Qatar Airways, which is a Qatar based air service provider. In a very short time, the Qatar Airways has grown to over 120 destinations throughout the world. The Qatar airway is the leading air service provider in the world. It immensely focuses on providing quality service to the customers. Any service provider cannot match the service provided by the Qatar airways (O'Connell, 2006, Pp.94-100). It is due to the excellent service that the Qatar airways have been voted as the best airline of the year in 2011 and 2012 as well. Similarly, over the years Qatar airways has established a very good name in the market and has won the confidence of the traveling public. Due to its innovative strategies, Qatar is considered as the leader in ...