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Task 1.2 Various Elements of Marketing Processes:
There are many elements of marketing orientation but six of them chosen at the introduction will be discussed as follows:
Scope of Marketing
Integrated Marketing using various marketing concepts and philosophies which are rendered through a spectrum of orients that span several large domains, these include but are not limited to: Product Orientation, Sales Orientation, Market Orientation and Societal Orientation. These domains within a company will have a lateral effect on each other, may even overlap times and sympathetically shrink and swell with each other to more efficiently process the companies business model depending on the prevailing conditions within that businesses environment.
For eg, a tax levy on a product (Society) leads to a downturn in the market (Market) which reflects in poor sales (Sales) which would by virtue of economic logic lead to a cut in production. This can also work in reverse. These Four domains have a feedthrough and feedback relationship (lateral) but each of them are also subject to other market forces, most importantly of which is SUPPLY & DEMAND
Albert Humphrey is the chronicled originator of SWOT analysis. He compiled data from Fortune 500 companies in the 60's to help him forensically analyze core principle of…