Understanding customer needs - marketing principles - report on pepsi

... How we met the Marketing Principles As outlined previously in this report on Pepsi, the definition of marketing is as follows, Marketing is all about understanding the customer and ensuring that products and services match existing and potential customer needs. Marketing is essential to a business and without it a business cannot give its customers what they want. There are five main points to marketing and they are, * Understanding customer needs * Understanding and staying ahead of competition * Communicate with customers to satisfy expectations * Co-ordinate its market functions to achieve its' marketing aims * Be aware of marketing constraints. These points seem very obvious and basic, and yet they are all very in-depth, and very important to a business that is involved in marketing. If a company has its marketing strategy wrong, then it could result in financial hardship for the company. Understanding customer needs In order to anticipate change, Pepsi need to have an antenna

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