Rendy Toule

What’s Marketing?

Analyzing the needs of the people.

Trying to guess what types of products they want.

Estimate how much they will buy.

Predict when they will want to buy.

Determine where they go to buy the stuff.

Figure out the best price to sell it at.

Decide on promotional things to createawareness about the product.

Look at the competition to see what they are doing with pricing, features, etc.

“Marketing is the management process that identifies, anticipates and satisfies customer

requirements profitably”

The Chartered Institute of Marketing

“Marketing is the human activity directed at satisfying human needs and wants through an exchange process”

Kotler 1980

Choosing and targeting appropriate customers

Positioning your offering

Interacting with those customers

Controlling the marketing effort

Continuity of performance

Serving the needs of customers is what business should be all about.

Marketing is the business function that interprets customer needs to the rest of the organization.

Marketing should begin with the customer needs – not with the production process.

Marketing should anticipate needs.

Marketing is a core business discipline.

The study of marketing is important to the basics of running a business no matter big or small.

The tools available to a business to gain the reaction it is seeking from its target market in relation to its marketing objectives

Traditionally, Marketing Mix consists of 4 P’s which are Product, Price, Place, and Promotion.

Everything that is offered to the market.

Methods used to improve/differentiate the product and increase sales or target sales more effectively to gain a competitive advantage, for example specialised versions, new editions, changed packaging, etc.

The customer’s perception of value is an

important determinant of the price charged.

Customers draw their own mental picture

of what a product is worth.

It is important when deciding on the price to be fully aware of the brand and its integrity.

As an element of the marketing mix, it is not just about the physical location or distribution points for products.

It encompasses the management of a range of processes involved in bringing products to the end consumer.

The promotions aspect of the marketing mix covers all types of marketing communications.

The purpose of most marketingcommunications is to move the target market to some type of action. This may be to buy the product, visit the place, recommend the choice toa friend or increase purchases of a product.

Promotion is strategies to make the consumer aware of the existence of a product or service.