The concept and process of marketing
* What is marketing?
Marketing as 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."
Marketing is all activities conducted to prepare for sales. Sales are 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.
Thus Marketing can be categorized as a branch of business as well as a social science. We buy goods (thus becoming the buyer/consumer) from a vendor (or producer/seller), creating a transaction. In the past, marketing involved traveling salesmen, while in modern times, marketing is more likely to involve television, the internet, and other forms of media bombardment.
What is marketing?
Marketing seeks to satisfy the needs of people through the exchange process. Marketing refers to channeling the gap between service and product providers to service and product seekers.
The Marketing Mix or the "4 P's" are:
The concept of "4 p’s" is replaced by the concept of "7 p's" they are
These are employed to satisfy a target market' or target demographic.
Product: Procter and Gamble introduces new toothpaste designed to taste good and fight cavities. Logo and packaging designed in bright colors to appeal to kids of elementary school age to encourage more tooth brushing.
Price: 2.00, and discounted by means of coupons
Promotion: television and radio commercials, magazine and newspaper ads, and a website; these use bright colors and happy music, perhaps an animated cartoon character for a fun and family-friendly attitude
Place (or distribution): Supermarkets, drugstores, discount stores...