Market Process and its Elements (Part 1)

Introduction

Considering the economical grounds and factors it is important to mention that the global economic meltdown has posed a serious threat to the progress and development of the global aviation industry and at the same time also manifested its adverse ramifications upon the manufacturing potentials of aircrafts. Due to the pinch of the financial turmoil airlines had to look towards different countries like China and Japan where airlines were readily making ground to welcome them through their cheap labor and expenditure cost. As a result of these changes that took place in the post-recession years many airlines had to put their social responsibility at stake by signing contracts with airlines of different countries that could provide them with the manufacturing services of their aircraft. One of such companies which will be assessed through various dimensions during the course of this discussion is Air Asia Airline.

Q. Explain the various elements of the marketing process

Elements of Marketing Process

Earning good profit is the basic and one of the most important goals of every business (Dwyer & Tanner, 2006). To achieve the targets it is necessary to build up some strategies apart from company’s contribution echelon. The marketing strategy should be able to reach the target audience. Only the product with this kind of strategy survives in the market (Bygrave and Zacharakis, 2009).  In order to maintain the consistency of standards, the marketing strategy of any organization plays the most pivotal part and it is the strategy part where the company has been able to acquire the greatest leverage in the financial mainstream.

In order to devise an enforcing and appealing market strategy for success and in order to catalyze this process, there are some core elements of marketing process which are as follows

Targeting

In the different stages that comprise the development and formulation of an effective and sustainable business strategy, it is extremely important that the product being designed is able to deliver its message at the niche market segment it caters.  Choosing the right target market with greatest potential is a tedious task.

Continue to Part 2