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Principles of Marketing, Marketing is defined as "the total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling."
An alternate definition is paraphrased from memory of an introductory business text is: Marketing is all activities conducted to prepare for sales. Sales is all activities required to close the deal. Shipping and customer satisfaction would be included in sales to avoid the customer from reversing or unclosing the deal.
Marketing refers to channeling the gap between service and product providers to service and product seekers. Also known as a way of satisfying needs. The Marketing Mix or the "4 Ps" are:
product
place
promotion
price
The concept of the "4 Ps" has been replaced by the concept of the "7 Ps" they are
product
price
place
promotion
people
positioning
packaging
1. Analyzing marketing opportunities
Defining the market
Consumer assessment
Environmental assessment
Company resource assessment
Demand analysis and sales forecast
2. Identifying Market Segments and Selecting Target Markets
Marketers set priorities for business opportunities, concentrating on market segments within which they expect to achieve the best overall economic return from their product or service. Market segmentation and target marketing are the processes used to isolate these opportunities. Market segmentation is the process of grouping customers based on their similarities
Market segmentation allows a company to:
Understand the different behavioral patterns and decision-making processes of different groups of consumers
Select the most attractive segments or customers the company should target
Develop a strategy to target the selected segments based on their behavior
Developing marketing strategies
Positioning
3. Develop new product, test, and launch
Modification in the stages of product life cycle
Strategy choice depends on the strategy pursued by the firm
Consider changing global opportunities and challenges
4. Planning marketing programs
Transforming strategy into programs
Managing Product Lines, Brands, and Packaging
Managing Service Businesses and Ancillary Services
Designing Pricing Strategies and Programs
Selecting and Managing Marketing Channels
Managing Retailing, Wholesaling, and Physical-Distribution Systems
Designing Communication and Promotion Mix Strategies
Designing Effective Advertising Programs
Designing Direct-Marketing, Sales-Promotion, and Public-Relations Programs
Managing the Salesforce
5. Managing marketing efforts
Organizing resources
Implementation
Control - Annual control, Profitability control, Strategic control
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द्वारा डाली गई
Palpali Fucha Thapa Magar
Android ज़रूरी है
Android 4.1+
श्रेणी
रिपोर्ट
Last updated on Jan 7, 2019
Marketing refers to channeling the gap between service and product providers to service and product seekers. Also known as a way of satisfying needs. The Marketing Mix or the "4 Ps" are:
product
place
promotion
price
The concept of the "4 Ps" has been replaced by the concept of the "7 Ps" they are
product
price
place
promotion
people
positioning
packaging
Principles of Marketing
1.0.0 by Erlongs
Jan 7, 2019