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MARKETING
is a compex process that involves identifying custmers'…
MARKETING
is a compex process that involves identifying custmers' needs and wants and creating a product or a service that satisfied them
Marketers often divide consumers into groups with similar buying patterns in order to better understand how to satisfy them. A market can be divided;
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In order to find the best strategy to promote a product there are four factor, these factor are called 'the four Ps'
Promotion: promotion refers to all those activities businesses carry out to make costumers aware of their product. The most common ways of promoting products are: advertising, personal selling, sales promotion throught campaigns, sponsorship, trade fairs, direct mail.
Product: The product is the most important part of this mix because when we buy a product or a sevice we buy the advantages that this product can offer us. The product when lanched on the market follow a life cycle that incudes:introduction, growth, maturity, decline.
Price: A product con be sold on the market using different pricing strategies with a view to increasing sales.There are a five main methodos 0f pricing: price skimming, competitive pricing, penetration pricing, cost plus pricing, psychological pricing.
Place: Business have to consider varius aspects before choosing the proper distribution channel.They need to consider their target consumers, the position of the product on the market, the specific characteristics of rh article.
Market also use another alternative to the four Ps, which is the four Cs
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Mass marketing differs from the niche marketing because the niche marketing on the other hand, tends to focus only the particolar needs of individuals that differ from the mass
The ruole of market resarch is to collect and record any information related to what products and services are most popular. Market research is conducted using primary data and secondary date:
Marketing strategies deal with all the techniques used to sell a product. It is important not to confuse marketing with advertising
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