Marketing Concept and Marketing Realities †MyAssignmenthelp.com

Question: Discuss about the Marketing Concept and Marketing Realities. Answer: Introduction The report gives focus on themarketing concept. Marketing is related to promoting the goods and services in an effective manner. In the first phase of the report, the newmarketing realities are discussed. The last phase of the report gives focus on the other forces that might give direct impact on marketing. New Marketing Realities It is evaluated that the marketplace in the recent scenario is very different as compared to the earlier times. The three key forces that drive the new marketing realities are: Technology In the digital era, it is evaluated that the marketing can be done in an effective manner. Technology is one of the new marketing realities that have given emphasis on attaining the success. The revolution related to digitalization has created an information age that gives assurance to offer accurate levels of production and also to target the large communication area. The advancement in transportation, shipping and communication has made the process easy to market the products. It has also given impact on the buying pattern of the consumers (Scott, 2015). Consumers can easily buy the products by sitting anywhere in the world. International travel has also enhanced as there are many people who conduct the activities in different countries (Babin and Zikmund, 2015). Technology also considers the state as a mode or medium that assists the marketers to propagate with the deliverables to the end user. The best result of bringing in technology has been innovation. Technology has brought a drastic change in conducting the activities of the organization and also to survive in the competitive environment. The technology is considered as dynamic by considering from television advertisements to internet marketing. It has given success to many companies and also the promotion of the products is done in a proper manner. With the use technology, the consumers can easily purchase the items and the company can easily promote the products. Technology plays a great role in enhancing the sale of products and services in the market. Globalization It is concerned with the change that takes place globally and also it is seen that we are moving away from a more integrated world. It is a change in the organization that takes place from the single country to one that operates in multiple countries. The impact of globalization on business can be divided into two categories: Market Globalization: It is related to the increase and access of the businesses to all over the world to satisfy the needs and wants of the consumers. Due to globalization, the company is able to sell the products and services globally and also it is believed that the tastes of the consumers who are living in different parts of the world are now emerging (Hirst, Thompson and Bromley, 2015). It is evaluated that the small companies who do not have sufficient resources can reach to the customers on an international level. It is all due to the globalization of markets. There are many big markets that have emerged into a single market by taking into consideration the needs and wants of the consumers (Amin, 2014). So this is beneficial for both the customers and for the producers. Production globalization: Globalization is one of the ways by which the nations interact. The economy becomes integrated as the flow of products and capital enhances. The fall in the trade barriers can lead to increase in the trade between the countries (Crane and Matten, 2016). Social responsibility By considering marketing, it is evaluated that social responsibility is an important factor. The practice consists of giving focus on the efforts of attracting customers who want to make positive differences with the purchases. There are many companies that take into consideration social responsibility strategies in marketing. It assists the community to produce the services and products that give benefit to the society (McWilliams, 2014).The initial investment is important to divide the profits attained. Social responsibility in marketing gives emphasis on promoting a positive image that can give direct impact on the productivity and profitability of the organization. The companies that take into consideration social responsibility are Dabur, Hindustan Unilever Ltd, PG. Change in Future Technology: In the field of marketing, it will give impact in bringing change in the future. With the help of updated technology, it is easy for the company to conduct the activities in a proper manner. A transformation in marketing is considered as the time spent on our mobiles, laptops. The challenge for the companies is to connect with the consumers. But with the use of latest technology, it will be easy for companies to connect with the consumers in future also (Skinner, 2016). The large brands can easily create campaigns that work across social media and also display advertising. The brands consider the website and mobile applications that have given change in the nature of marketing. To promote the products, marketing is always taken into consideration so that the customers can easily get the knowledge about the products and services. In future also it can be easy for the large companies to promote the products and can easily communicate with the large mass of audience (Hollensen, 2015). Globalization: This factor will bring change in the future, as it is seen that with the help of globalization the company can easily enhance the products and services globally. Also with the increase in the technology in transportation and shipping, it is easy for the companies to market the products (Pieterse, 2015).International travel has also given growth to many people work. It will also give an opportunity to consumers to buy the products and services in an easy manner. The customers can easily purchase the items and they have a huge variety to choose the products and services. There are also many big markets emerged into the single market by considering the wants and demands of the consumers (Baylis, Owens and Smith, 2017). Social responsibility: This factor is also essential in bringing change in the future. By giving focus on social responsibility, it is seen that the company will enhance the growth and profitability of the market. If the marketing of products and services is done by considering the social responsibility, then it can be evaluated that the company can easily accomplish the goals and objectives in future. By giving emphasis to the social responsibility the company also enhances the image in the market. Goodwill also plays a significant role in attaining the profitability. This factor also attracts consumers towards the products and services, which give the positive result on the sales of the products. Marketing of products can be done effectively if social responsibility is considered, as the attention of the customers can be attracted towards the products and services (Korschun, Bhattacharya and Swain, 2014). Forces that affect marketing Every business is affected by some forces. They can give increase and decrease in the needs and wants of the product. It is essential for the organization to analyze the forces that give direct impact on the business. The forces that affect marketing are: Laws and Government The change in the laws gives effect on all the aspects of the business including marketing. The new taxes imposed by the government can give impact on the Bottom line and also it needs a reduction in the amount of marketing that is produced. New restrictions that are imposed by the government can affect the ability of the customers to shop for the brand. The new law that governs the age limits of the consumers and also the other factor can hinder the opportunities to sell the products. In many cases, it is seen that the new laws can be directed to control the marketing efforts directly. For example: The laws related to privacy can remove the valuable access to the consumers and can give change in the marketing strategy altogether (Sheth and Sisodia, 2015). Competition Competition level is one of the factors that affect marketing. If the competition level is high in the market, then it is important for the company to enhance the marketing strategies. If the marketing strategies are not enhanced, then it can give negative impact on sales of the products. It is essential to monitor the activities of the organization and also effective design strategies should be considered so that the controllable variables can be used. Conclusion By evaluating the report, it is concluded that the new marketing realities that are discussed in this report are technology, Globalization, and social responsibility. Marketing is considered as an important part of the organization. It is important to survive in the competitive environment and also to enhance the growth. The forces are also discussed that will bring change in the future. In the last phase of the report, the discussion is made by considering the forces that can give direct impact on marketing. References Amin, S., 2014.Capitalism in the age of globalization: The management of contemporary society. Zed Books Ltd.. Babin, B.J. and Zikmund, W.G., 2015.Exploring marketing research. Cengage Learning. 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