Page 2: Marketing
The Chartered Institute of Marketing defines marketing as: ‘The management process responsible for identifying, anticipating and satisfying customer requirements profitably.’ In simple terms, it is the process where customer needs are identified and serviced through the products and services that satisfy them.
This starts with a process of planning at the very top of an organisation. Senior managers determine the long term aims of the organisation. An aim for Kia is to become a major player in the UK car market. Planning is then followed by a process of research through which customer needs are identified. A business then has to establish processes that enable it to satisfy these needs. Kia wants to bring a fresh, fun and dynamic approach to the UK car market. Its marketing strategy supports its objectives with a focus on increasing brand awareness. It aims to emphasise the great design and quality of Kia’s products, while still offering competitive prices.
The marketing mix
The marketing mix comprises of the 4Ps and is a useful way of summarising the marketing strategy of an organisation. Every organisation will have a unique marketing mix. Organisations need to create a unique mix of:
- the right product
- sold at the right price
- in the right place
- using the most suitable promotion .
For example, the marketing mix for Kia is based around:
- product – good design and quality alongside a high level of customer service, Kia’s unique selling point is its 7-year warranty
- price – competitive prices provide an advantage over competitors
- place – with 166 dealerships there is a large and expanding number of outlets
- promotion – this includes a new sponsorship in cricket and long-term partnerships in football and tennis.