Principles of Marketing

Il marketing è tutte le attività condotte per preparare le vendite

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The concept of the "4 Ps" has been replaced by the concept of the "7 Ps" they are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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