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Title: Marketing Basics
Description: Basic idea of Marketing simply explained.
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Marketing​ ​is​ ​not:
Advertising-​ ​advertising​ ​is​ ​communication​ ​tool​ ​for​ ​marketers
Selling:-​ ​a​ ​complementary​ ​function
The​ ​marketing​ ​process
1-​ ​Identify​ ​consumer​ ​needs
2-​ ​manage​ ​the​ ​marketing​ ​mix​ ​to​ ​meet​ ​consumer​ ​needs
3-​ ​realize​ ​the​ ​profits​ ​for​ ​a​ ​company​ ​(
The​ ​Marketing​ ​Challenge​ ​(The​ ​4​ ​P’s​ ​of​ ​Marketing)
The​ ​marketing​ ​team​ ​is​ ​responsible​ ​for​ ​tying​ ​long​ ​term​ ​business​ ​sucess​ ​to​ ​carefully​ ​designed
product,​ ​pricing,​ ​distribution​ ​(place),​ ​and​ ​promotional​ ​strategies​ ​that​ ​meet​ ​current​ ​consumer
needs,​ ​trends​ ​and​ ​expectations
...

3​ ​groups​ ​who​ ​benefit​ ​from​ ​effective​ ​marketing:
Consumers​ ​who​ ​buy
Organizations​ ​that​ ​sell
Society​ ​as​ ​a​ ​whole
Target​ ​market-​ ​specific​ ​group​ ​of​ ​existing​ ​and​ ​potential​ ​consumers​ ​to​ ​which​ ​marketers​ ​direct​ ​their
marketing​ ​efforts
-With​ ​limited​ ​funds,​ ​it​ ​is​ ​better​ ​to​ ​channel​ ​resources​ ​to​ ​a​ ​specific​ ​group​ ​of​ ​consumers​ ​rather​ ​than
squander​ ​funds​ ​on​ ​trying​ ​to​ ​please​ ​everyone​ ​in​ ​the​ ​competitive​ ​market
Title: Marketing Basics
Description: Basic idea of Marketing simply explained.
Buy These NotesPreview