Marketing is defined as a process of identifying and fulfilling customers needs and wants in a profitable manner. Needs are defined as something which is essential for living and life without that would be impossible to live such as shelter, clothing and food where as wants are described as something which is not necessarily required for living but just what a person wants. Marketing specially aims towards catering the needs and wants of the customers once they are identified and analyzed (Kotler, 2008, p.10)
Marketing in Multinational Organizations
Marketing in recent years has been widely used in large Multinational organizations for the purpose of creating awareness of their organization as well as their offering to the target market. If marketing processes are properly carried out then there are chances for the organization to achieve its marketing objectives. Marketing involves the usage of four basic elements i.e. product, price, place and promotion which is referred as Product Mix or 4Ps (Kotler, 2008, p.11).
As multinational organizations have their branches in various different countries, they tend to use standardized product mix for their products in order to reflect that for them all world markets are the same and cater those market equally. For example, coca cola which is widely used fizzy drink has a standardized marketing mix. The coke itself remains the same when supplied all over the world, its price is standard no matter where it is being sold, the place for selling it are coke refrigerators in supermarkets and its promotional campaigns remain the same spreading one common message.
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