Marketing Organizations And Destination Marketing

Total Product Concept

Discuss about the Marketing Organizations and Destination Marketing.

With a growth of companies, there has been a consequent expansion of the marketing management concept. According to Fanning (2016), the business organization in the modern world immensely concentrates on a practical implication of marketing techniques to not only improve revenue generation but also meet relative demands of the stakeholders. Further in response to globalization effects, there has been a considerable rise in operations in the domestic and international strategies. In addition to fulfilling customer demands, the policy of marketing management helps objects to understand the corporate culture and apply cost-effective strategies. In short, the use of available resources with a proper tracking system is referred to as the marketing management policy of an organization.

Furthermore, the practice of total product theory is recognized as the efficiency of a company`s management system to scrutinize a particular commodity in relation to its market, and bring in necessary beneficial changes. The concept completely depends on four elements namely, generics, forecasting, value-addition and product potentiality. In order to develop a strong market base, supervisors analyzes the needs of their clients, checks and develop goods as per their needs and also consider future dimensions of improving the commodities.

The essay considers the concepts of total product in accordance with product layers and product components. Additionally, the three specific elements taken into consideration in this project are customers, positioning and services. A study of the topics included in the essay is of great importance to the marketing management system. Despite analyzing the various components the essay does not include other fluctuating that forms a core part of a commodity and its management plan.

The theory of total product is directly related to the commodity leadership element of a marketing management system. In order to form a proper understanding of the concept, managers in a company refer to the three mega marketing notions, such as product consideration, product layers and component factors of a commodity. In relation to the reviewed concept of marketing, a product includes a number of elements while the total product is what is actually positioned in the market for sales purpose. Further, a commodity can be divided into two parts based on its presence and tangibility concerns. A good developed by the managers and employees is the most important part of a company. In order to perform effectively in the market, supervisors study the preferences of the people to be able to maximize capabilities and develop a sense of promise among them (Hollensen, 2015).

Concerning, the success of a firm the well-developed product concept plays a vital role. With a rapid growth of the nations, the establishment of new organizations effectively contributes in adding on to the market competition levels. As stated by Fanning (2016) creation of unique products that attract and maintains customer levels is a lifeline element to an enterprise. In terms of building up an efficient product and marketing plan, administrators often seek the help of an expert who not only provides guidance to lower production cost but also lends a hand to understand market conditions and psychographic factors of customers (Wilson & Gilligan, 2012). 

Product Layers

To formulate a significant process to cater to the people of a nation, managers study the four different product layers. The distinction between the levels helps to audit, position and develop new commodities in the market structure. Furthermore, four stages of a product are, the core, expected, enhanced and promised products.

A company develops new products on the basis of a fundamental commodity that aims to fulfill the needs of the people. For example the primary object of the transportation industry is not to earn profits but to enable the safe travel of passengers to their desired destination within a reasonable time period (Fanning, 2016).  A core good of a company, is the most elementary level of the product category.

There lies a difference between what a client wants and what he needs. The core focuses to meet needs rather than a person`s wants. It is solely the responsibility of the basic qualities to avoid dissatisfaction levels as well (Sheth & Sisodia, 2015).

With an infrastructural and technological expansion, there has been a growth in the expectations of the people. A good that is actually expected by the clients of a company is an important factor. In the opinion of Hutt & Speh (2012), there lies a direct relationship between price and customer product anticipation levels. With a change in cost there is a consequent change in product expectations.

For example, watch brands like Swatch and Rado provide their clients with a diversification of commodities in accordance with different price levels. Despite of a same product, satisfaction of customers is ensured with the production and distribution of high quality varying price products. Further, with respect to promoting utility, managers seek to understand customer expectations to bring in necessary changes (Lee & Carter, 2012).

In order to possess an element of competitive advantage over rival firms, certain brands like Qantas and Jetstar provide their clients with more than what is expected. An addition of value to the commodities enables managers to attract new customers that further result in an increased level of revenue generation (Mudie & Pirrie, 2012).

The extraordinary onboard services offered by Qantas are an example that resembles such a concept. Moreover, the attractive delights provided by Australian F&B companies like Fonterra and Lion Nathan helps them to position themselves as the leaders in the country. 

Potential or future products that finally will be delivered to the people play a key role in deciding the sustainability of the firm. Additionally, the customers are in a proportionate contact with each other and the market to check on the arrival of new commodities that might better suit their needs (Meffert, 2013). The people of Australia often tend to wait for a new model while purchasing cell phones.

In order to operate effectively in the market, managers object to bridge the gap between the expectations of the people and the company`s creation of new products (Baker & Saren, 2016). A well developed potential product is actually obtained with a constant process of improvements. For example, Air New Zealand introduced entertainment services on airplanes as a potential product which over time became an expected element of customers. In order to maximize the efficiency in business, the various levels of management maintain a proper relationship with each other to develop and implement unique factors that make them better than their rivals (Morgan, 2012).

Core Product

A final product of a company can be divided primarily into six different parts. In order to increase profitability and market reputation managers largely focus on each of the elements that together is responsible for the development of a commodity. Among all other factors, people, service and place form the most important part of a well-developed good.

People of the country are the most important type of stakeholders to a company. Managers enhance stability in personal relationships with the customers to ensure a smooth flow of business activities. With a growth of the world and the competitive business environment, there has been a noticeable increment in dependency on people (Evanschitzky et al., 2012). Dentists, political leaders, accountants, electricians and other people groups are referred to as the major product component. In cases of socializing and another form of interaction between people that adds value to this stage of the product component. The customers of an organization act as a dominant or non-dominance element (Malhotra, Birks & Wills, 2013).

Concerning people as a commodity factor, the example of Qantas is one of the most suitable cases. The brand has a reputation in the market for delivering high-quality products and services. Collaboration with other companies and Jetstar acts a superior element in comparison to other rival firms. Further, the education and training facilities have opened up a large opportunity scope through the people. Often the people enhance physical appearance requirements to maximize utility (Jobber & Ellis-Chadwick, 2012). Airline brands understand the need for a proper stance and dress code to provide the people with world-class experiences.

In order to work in a more efficient manner, companies have taken a deep interest in becoming self-sufficient ad reduce dependency on their customers. A person`s involvement completely depends on the presence of SST factors. The safe payment for oil, online reservation of travel tickets, downloading songs and more significantly ATM are examples of such systems. On the opportunity of a better control over the results, consumers tend to work towards benefitting themselves (Wedel & Kamakura, 2012). For instance, people tend to check and exercise a power to ensure that a work gets done. The growth of the internet has facilitated delivery of goods. Additionally, in order to perform effectively in the DIY market, companies tend to voice against the process ad ensure expert service to the people (Tracey, Heide & Bell, 2014).

Among all other factors, the element of a place is given less important. The aspect of the place is one of the key aspects that forms an integral part of the 4P marketing theory. As a distributing term, there exists low scope for the concept. On a broader basis, place stands for positioning of brands, distribution of goods and all activities of a company that concern the spread of products to customers (Wei, Samiee & Lee, 2014). Modern business manager emphasize on the development of a proper distribution channel and place of exchange in order to be able to grab all the opportunities available in the market.

Expected Product

For example, departmental stores, dentist centers, restaurants, airports, and online centres like Wikipedia, App stores are all part of situations where a business operates and exchange of ideas take place. Management experts refer to a place as a strategy of destination to enable brands to effectively expand work in a micro and macro environment (Achrol & Kotler, 2014). Further, the specific location of companies influences the development of the product. Australia extensively produces wines that have effectively captured the foreign market. Moreover, the extraordinary sites in Sydney and growth of flight plans have lead to growth in the tourism industry and also companies like Qantas, Tripadvisor, and etcetera. 

The service element of products includes all the economic operations that facilitate delivery of goods in the market and ensure customer satisfaction in every possible way (Pike & Page, 2014). Similar to goods, services can also be divided into two parts, tangible and intangible. For example, a construction process involves both tangible and intangibility aspects of the concept. Organizing of material, constructing a plan and adding value to the raw materials are all regarded as services of a company.

According to Fanning (2016), services can be classified based on the industry into several types like B (business)-to-B (business), B-to-C (customers) , health, education, transportation, and many others. Moreover, managers also refer the method of retailing another type of service. To meet the customer demands, retailing is an important factor that influences the growth of a business. Brands like Coca-Cola, McDonalds, JBS, Honda and others emphasize the use of a marketing channel mix not only to grow domestically but also in the international market (Huang & Sarigöllü, 2014). In addition to hidden services, supervisors focus on visible services as well to effectively carry out business operations. Concerning a more detailed study, services can be dived into facilitating processes, supporting activates, initial elements, enabling factors and peripheral services.

For example, customer oriented companies like Fonterra, Lion Nathan provide a variety of after-sales services to ensure a stability of their firm. Additionally providing the people with R&D, finance, shipping, timely delivery, exchange and a continuous support to the clients help to gain trust and belief of the targeted sections. The developing 24*7 service like ambulance, money transfer and online maintenance to the clients has also effectively contributed towards the prosperity of business and the nation as a whole (Urde, Baumgarth& Merrilees, 2013). 

Conclusion

Analyzing the above essay it can be inferred that marketing and management of a company greatly depend on the factors like the total product, commodity levels and its component. In terms of sustainability and revenue generation, managers greatly emphasize the total product concept and its implication in an organizations framework. In this case, people, place and service are the three factors that affect managerial efficiency. A proper monitoring of information is facilitated by supervisors to bring in changes in the performance of companies and also to ensure survival in the highly competitive environment.

Concerning the levels of a product, the management ensures a continuous check on the four different stages to effectively build performance. Furthermore, enterprises in the Australian market build a direct relationship between marketing management and total product concept. With an advancement of technology and infrastructure, brands have successfully grabbed available opportunities. Scrutinizing the above project it can be concluded that irrelevant of the size of a firm, the management system greatly relies on the discussed topics to improve business conditions.  

References

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