Marketing

Marketing is an organizational function and a set of processes for creating,

communicating, and delivering value to customers and for managing
customer relationships in ways that benefit the organization and its
stakeholders
Marketing is used to identify the customer, satisfy the customer, and keep
the customer

What Activities are Included in Marketing?

Marketing activities are numerous and varied because they basically include
everything needed to get a product off the drawing board and into the hands
of the customer. The broad field of marketing includes activities such as:

• Designing the product so it will be desirable to customers by using

tools such as marketing research and pricing.
• Promoting the product so people will know about it by using tools such
as public relations, advertising, and marketing communications.
• Setting a price and letting potential customers know about your
product and making it available to them.

Marketing Mix

What is the marketing mix?

The marketing mix is probably the most famous marketing term. Its
elements are the basic, tactical components of a marketing plan. Also known
as the Four P's, the marketing mix elements are price, place, product, and
promotion.

The Four “P’s”

The marketing mix is the combination of the four controllable variables--

product, place, promotion, and price (the four Ps). Chanimals blend
these variables to create a mix that satisfies the needs of the target
market.

1. Product. The product refers to the service or tangible good that

satisfies the target customer’s wants--it is obviously first essential that
a real target market is identified, quantified and justified.
2. Place. The place refers to placement (usually managed by sales or
OEM), such as having the product available where and when targeted
customers want to buy it.
3. Promotions. Promotion includes Advertising, PR, Event Marketing,
Online Marketing, Direct Marketing, Personal Selling, Channel
Marketing, and Alliances.
4. Price. Price consists of the policies regarding competitive upgrades,
reseller pricing, discounts, list price, distributor and street price (the
actual selling price).

Discussion:

1. Mention the following definitions:

a. Product b. Place c. Promotion d. Place

2. Think of some products you have bought recently. Why did you buy
them?
 Which of the four Ps influenced your decision?

Entertaining

Entertainment consists of any activity which provides a diversion or

permits people to amuse themselves in their leisure time.
Entertainment is generally passive, such as watching opera or a movie.
Active forms of amusement, such as sports, are more often considered
to be recreation.[1] Activities such as personal reading or practicing a
musical instrument are considered to be hobbies.

Entertainment may also provide fun, enjoyment and laughter. The

industry that provides entertainment is called the entertainment
industry. There are many forms of entertainment for example: cinema,
theatre, sports, games and social dance. Puppets, clowns, pantomimes
and cartoons tend to appeal to children, though adults may also find
them enjoyable.

Imagine you have to entertain a group of foreign businesspeople.

Which of the following activities would you choose? What would you
add?

• Historic Sites theatre

• Opera/concerts horse racing
• Motor racing golf
• Tennis art galleries
• Bar/night club
• Golf
• restaurant