Examine External Marketing
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
Latest posts by Mariam Peyton (see all)
Marketing is the process through which organizations engage their customers in order to construct strong customer relationships, create customer value, and in return capture value from them. Ferrel and Hartline (2011) on the other hand define marketing as a set of processes an organization uses to create, communicate, and deliver value to customers as well as manage customer relationships in such a manner that benefits both the organization and stakeholders. For a product or service to sell easily, marketers have to efficiently engage consumers by understanding their needs and developing products that provide superior value. They must also price, distribute, and promote organizational products or services effectively (Kotler & Armstrong 2017).
This assignment examined the concept of external marketing, its benefits, and its impact on an organization’s performance as well as the key elements that make up this concept. Key questions answered are; what is the meaning of external marketing? What are the five elements of external marketing environment?
External marketing is the type of marketing where businesses create promotions and materials that aim to promote their products and services. This consists of generating and sustaining products and services that customers recognize and promote to appeal to customers. [https://www.indeed.com/career-advice/career-development/what-is-the-service-marketing-triangle?]
External marketing includes various activities, such as advertising, public relations, social media, events, promotions, and direct marketing. The primary objective of external marketing is to generate awareness, interest, and demand for the offerings of a business.
There are a number of factors that influence external marketing namely; political, social, economic, technological and competitive which are to be addressed in detail in the following sections of this essay.
HARVARD
Citation Here
Citation Here
APA
Citation Here
MLA
Citation Here
CHICAGO
Citation Here
Examine External Marketing a Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Define external marketing and its benefits for an organization, and also evaluate its impact on the performance of an organization
- Identify the key elements of an external marketing strategy and examine how to align them with the organization's goals and values
- Apply the principles of external marketing to design and implement effective campaigns and activities
1.0 INTRODUCTION
External marketing is the type of marketing where an organization communicates or markets its products and services to potential and existing customers outside the business organization. External marketing includes various activities, such as advertising, public relations, social media, events, promotions, and direct marketing. The primary objective of external marketing is to generate awareness, interest, and demand for the offerings of a business. [Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Pearson Education.]
Organizations can market their products to the external environment in a number of ways such as;
1. Advertising: here an organization may promote its products, or services through various media channels, such as TV, radio, newspapers, and many others. This advertising process can help an organization’s products or services spread to a large and diverse audience with a reliable and memorable message that will attract customers to purchase the products.
2. Social media: here an organization takes advantage of online platforms, such as Facebook, Twitter, Instagram, LinkedIn, or YouTube, to interact with potential clients and share content, and also build relationships that positively impact the business. Social media platforms can help an organization, increase its visibility, engage potential customers, and drive traffic to its website pages.
3. Events: here an organization holds physical or virtual events for its target audience, such as trade shows, conferences, seminars, webinars, or workshops. Events can help it showcase its products or services.
The primary aim of external marketing is to generate awareness among the organization and its potential customers.
External marketing has got a number of benefits for an organization and some of them include;
1. It aids the business in attracting new potential customers and retaining the ones that they already have. External marketing can help an organization get its product or service to new audiences who may not be aware of its brand or products. It also helps them to develop relationships with their current customers and encourage customer loyalty.
2. External marketing helps an organization build trust and credibility with its customers. It helps businesses to carefully establish their reputation as a reliable and trustworthy provider the products and services that meet the customer’s needs and desires. It also help them to showcase their expertise.
Cancel anytime…right from your account dashboard
NOT YET READY TO SUBSCRIBE? Try our other options below
Get a personalized on-demand assignment fast **
Purchase This Assignment On Demand
100% original custom written assignment
Zero plagiarism (checked via Copyscape)
Harvard/APA/AMA referencing
1000 words-(4 pages)
Price: £ 40.50
Services We are Offering
We are more than a free study and revision tool.
We also provide
on demand research and custom writing services.
123 Writing is the #1 exam revision and assignment study platform in the UK.
Get unlimited access to answered student essays, assignments, past exam questions and sample coursework written by qualified academic writers & tutors.
Our Standard subscription typically retails for £299.88 a year.
Today, you can join at 80% discount.
Here’s a full breakdown of everything you get as a Standard or Premium subscriber...
» Get access to our database of more than 5,770 answered premium strategy case studies
Get unlimited access to a robust database of premium business strategy case studies including more than 5,770 fully answered sample strategy frameworks and tools such as pestle, value chain, value matrix, porters five forces, Ansoff’s matrix, etc., authoritatively written and tailored for student revision, assignment preparation and transformative business research. Our strategy case studies are especially suited for university students wishing to apply strategic frameworks to real-world situations, company cases or simulations. All our strategy case studies come with teaching notes and learning outcomes, making them effective as coursework revision, and essay study help tools.
» Free access to past exam & assignment answers
Revise and prepare for exams and coursework with our fully answered exam notes and sample assignment papers. Furthermore, get quick on-demand answers to past exam question and assignment questions from our writers. Exam answer notes come with personalized lesson plans, and detailed study notes complete with detailed explanations of each answer, for maximum exam revision and assignment preparation. This tool is perfect for readers struggling with exam preparation & assignment study.
» Get extra assignment related help from our writers & tutors
Achieve high grades with a little extra assignment related support. Get extra help with your essays, assignments and general coursework, from our knowledgeable writers and tutors who will provide extra assistance when required for all academic related tasks including proofreading, grammar editing & correction, citations, referencing, etc. at no extra cost for standard and premium subscribers. All our standard and premium subscribers receive free proofreading services, which will include a check for punctuation, grammar, sentence formation, typographical errors, formatting, errors and other consistency issues (broadly).
» Get free assignment & essay writing help worth up to 7K words
Commission an on-demand essay, or assignment title from our knowledgeable writers and tutors on any subject matter. Get up to 7,000* words in on-demand custom assignment help from our writers who can assist with difficult topic in classical business literature. (* 7,000 free word credit exclusive to premium members).
» Fast & speedy answers to on-demand case solutions & assignment questions
Make use of your available free word credit (up to *7,000words) to commission on-demand custom case solutions, case study assignments and receive fast & speedy personalised answers. Receive timely and fast plagiarism-free answers to assignment questions or case solutions in as little as 1-2 business working days. Topics include Strategic Management, Marketing, Business Management, Economics, Operations Management, Organization Studies, International Business & Management, Human Resource Management and more. (* Exclusive to premium members).
» Get exclusive Q&A sessions with our subject matter writers
Ask our qualified, vetted and knowledgeable writers up to *12 essay, assignment and coursework related questions annually and receive accurate, clear, and detailed answers including step-by-step explanations briefs that are easy to follow. (*Exclusive to premium members).
» Free access to test bank questions & answers, study notes and practice quizzes
Test your knowledge on any subject with our quick quizzes and test banks for maximum retention after revision and studying. Test Bank contains questions in a variety of formats including multiple choice, true/false, short answer, and essay questions.
» Free access to video tutorials & study packs
Get free access to exclusive video tutorials to common subject topics. Our subject matter video tutorials, study notes and study packs have been created to help students learn and understand basic course module materials, as well as prepare students for their coursework assignment questions, essays and exams. Our video tutorials, study notes and study packs can be organized by topic, textbook or Question &Answer.
» Access to textbook chapter reviews and answer solutions
Get access to chapter reviews of popular business books, broken down in easy-to-understand simple concepts with simplified English. If English is not your first language, this service will make revising for essay assignments and exams as easy as 123 (Exclusive to premium members).
