An overview of marketing Essay
An overview of marketing
1. Are the corporate objectives clearly stated and do they lead logically to the marketing objectives? According to Boyd Jr and Levy (1966), corporate objective is the practical goal established by an organization. Mostly the organization uses it to target their achievement and success. Furthermore, Ramaganapathy (2010) defines that marketing objectives are the goals and targets in order to complete through the company’s marketing activities. In addition, it can be referred to the company’s mission and vision which can be achieved reasonably. So, marketing objectives can be subsidiary of corporate objective. Hewlett-Packard Company provides hardware, software and services to customer. They set many corporate objectives such as increasing customer loyalty by serving the highest quality and value, achieve profit to create value to shareholders, to be the leader in the market by produce innovative products and services to satisfy the customer, and responsibility to the employees by promote and reward depend on performance and create work environment (www8.hp.com, 2014). So, HP is clearly stated their corporate objectives and most of them also lead logically to marketing objectives to make their products and services satisfy by the customers’ needs and wants.
2. Does the organization follow the marketing concept? The selling concept or production concept? According to Burnett (2008), the marketing concept is the idea that an organization attempts to satisfy the customer in order to achieve sales and profit at the end. Furthermore he explains that the idea of marketing concept is to consider the needs and requirements to the target customers and improve itself to satisfy consumers effectively in order to be over the competitors. Therefore, the marketing concept is all about matching the company’s competency and the needs and wants of consumers. So, HP follows the marketing concept. They focus more on customers. HP tries to create their products related to customers and giving name to each product in order to create brand family (An Ehow Contributor, 2014). Also, its corporate objective shows that HP try to develop and delivery the new products and services with the highest quality and value to satisfy their customers to create customer loyalty. HP also differentiates itself by arrange its value proposition and message to customer’s needs and wants. According to Turcotte (2012), HP also does many researches from its most important IT customers to study their wants and needs. So, HP wants to understand their consumers the most to create value to its customers and satisfy them and persuade them to be loyalty.
3. What is the core marketing strategy for achieving its objectives? Is it a sound strategy? HP now mainly focuses on serving the high quality products and services at the reasonable price to customers. They have the variety of IT products and services including software, hardware, IT infrastructure, and IT services. For each product, they create the variety of models to be the choices for every target customers. With the wide range of products at the different prices can satisfy their customers’ needs. The main focus aims to provide the reasonable price with the quality merchandise. So, their customers may feel that their products are valuable in term of price and quality. Website and commercial advertising are the way that HP uses to communicate their promotions and special offers such as limited time 0% financing to their customers. Also for the distribution channel, customers can find HP products from anywhere they can find other electronics. Customers also can purchase their products directly from their friendly website which also can research and compare their products and offer shipping services through various countries. The 4ps show that HP use customer based to create the strategies.
An Ehow Contributor (2014). Hewlett-Packard Marketing Strategies | eHow. [online] Retrieved from: http://www.ehow.com/way_5348861_hewlettpackard-marketing-strategies.html [Accessed: 27 Mar 2014].
Boyd Jr, H. W. & Levy, S. J. (1966). What kind of corporate objectives?. The Journal Of Marketing, pp. 53–58.
Burnett, J. (2008). Core Concepts of Marketing. [e-book] Global Text. Available through: http://www.saylor.org/site/wp-content/uploads/2012/11/Core-Concepts-of-Marketing.pdf [Accessed: 27 Mar 2014].
Ramaganapathy, S. (2010). What’s the marketing objective – Lead Generation or Brand Awareness? | Lead Views – a B2B Lead Generation Blog. [online] Retrieved from: http://www.leadformix.com/blog/2010/04/what’s-the-marketing-objective-lead-generation-or-brand-awareness/ [Accessed: 27 Mar 2014].
Turcotte, A. (2012). How Social Media Brought the Humanity into HP Technology Services Marketing | IT Services Marketing Association. [online] Retrieved from: http://www.itsma.com/ezine/social-media-brought-humanity-into-hp-technology-services-marketing/ [Accessed: 27 Mar 2014].
Www8.hp.com. (2014). HP CORPORATE OBJECTIVES AND SHARED VALUES | HP® Official Site. [online] Retrieved from: http://www8.hp.com/us/en/hp-information/about-hp/corporate-objectives.html [Accessed: 27 Mar 2014].