Marketing fundamentals of Airbus
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The essence of any company’s marketing strategy is to anticipate and satisfy the needs and wants of customers and make a profit in the process. Today, consumers seek high quality, lower prices, and better services. On top of that, competitors are always seeking to grow their market share in the highly competitive environment through innovation, product improvement, and effectively satisfying customer needs and desires. For new and established businesses to survive, it is essential to not only invest in marketing but adapt their marketing strategies to keep up with today’s volatile market. Marketing involves several activities that enhance an organization’s ability to effectively satisfy the needs and desires of its customers, thereby strengthening its position within the market. The marketing process includes developing, pricing, promoting, and distributing products/ services tailored to a given market. It includes all activities that create value and methodically result in increased sales, and establish a good company reputation and relationships with customers for all stakeholders to achieve their objectives. This report analyses the market strategy of Airbus.
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Marketing Fundamentals of airbus Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the concept of marketing fundamentals and apply it to a real company
- Understand how successful companies plan their marketing and develop their marketing strategies
- Discuss to what extent marketing strategy is influenced by external factors
- Discuss the processes and stages of marketing including the role of marketing mix
1.0 INTRODUCTION
As defined by Kotler and Armstrong (2017), 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) have on the other hand defined 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).
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