Marketing is about identifying and meeting human and social needs.
It is anorganisational organisational function and a set of process for
creating,communicating and delivering value to customers and for
managing relationships in ways that benefit the organisation and its
stake holders.
Needs, Wants and Demands
Needs are the basic human requirements. These needs become wants when they
are directed to specific objects. that might satisfy the need. Demands are wants
for specific products backed by an ability to pay.
Target Markets, Positioning and Segmentation
Marketers divide the market into segments. After identifying segments, the
marketer then decides which present the greatest opportunity-which are its
target markets . The firm develops a market offering that it positions in the
minds of target buyers a delivering some benefit.
Offerings and brands Companies address needs by putting forth a value
proposition a set of benefits that they offer to customers to satisfy their needs .
The intangible value proposition is made physical by an offering , which can be
a combination of products, serivices , information and experiences.
A brand is an offering from a known source.
Value and Satisfaction Value reflects the sum of perceived tangible and
intangible benefits and costs to customer. It is a combination of quality,service
and price.Satisfaction reflects to person's judgement of a product's perceived
performance in relation to expectations.
The Marketing Concept
Selling focuses on the needs of the seller, marketing on the needs of the buyer.
SWOT analysis
The overall evaluation of a company's strength, weakness , opportunities and
threats is called swot analysis.
It is a way of monitoring the external and internal marketing environment
You should also know the 7 p's of marketing or marketing mix
Product, place, price, promotion, people , packaging and positioning
Apart from that the 7c's of digital marketing are:
customer,content,contract,construction,credible, context and convergence
You should do the pest analysis for your business:
P = political
E= economic
S=social
T=technological
Inbound and Outbound marketing
Outbound marketing is what used to be known as marketing . It is interruptive
and it pushes itself at an audience ,whether the audience wants it or not ,tv and
radio ads, newspaper and magazine ads are all examples of outbound
marketing
Inbound marketing involves creating blog posts, social media,,white paper,email
, newsletter and other content
Inbound marketing involves creating blog posts, social media, infographics,
white papers, email newsletters, and other content that people actually want to
read. Search engine optimization paid discovery, and paid search help people
find marketers' content. If it's engaging enough, they interact with it, reading
and sharing, and come away with a positive impression of the brand that
influences later purchasing decisions.
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