marketing

Pascari Irina
mkl133

Defining marketing
Themanagementprocessthrough which

goods and servicesmove fromconceptto the

customer. Marketingis based on thinking about the
businessintermsofcustomer needsand their
satisfaction.
Marketing has less to do with getting customers to
payfor your product as it doesdevelopinga
demandfor that product and fulfilling the
customer's needs.

marketing mix
A planned mix of the controllableelementsof aproduct's
marketing plancommonly termed as 4Ps: product,price, place, and
promotion.
(1) identification,selectionanddevelopmentof aproduct,
(2) determination of itsprice,
(3) selection of adistribution channeltoreachthecustomer's

place, and
(4) development and implementation of apromotional strategy.

These four elements are adjusted until therightcombinationis found

thatservestheneedsof the product'scustomers, while generating
optimumincome. Sometimes the first P (Product) is substituted by
presentation.

Four Ps Four Cs
Definition
Consum
A company will only sell what the consumerspecificallywants to buy.
er
Product wants So, marketers should study consumer wants and needs in order to
attract them one by one with something he/she wants to purchase.
and
needs
Price is only a part of the totalcost to satisfya want or a need. The
total cost will consider for example thecost of timein acquiring a
good or a service, acost of conscienceby consuming that or even
acost of guilt"for not treating the kids".It reflects the total cost of
Price
Cost
ownership. Many factors affect cost, including but not limited to the
customer's cost to change or implement the new product or service
and the customer's cost for not selecting a competitor's product or
service.
While promotion is "manipulative" and from the seller, communication
is "cooperative" and from the buyer with the aim to create a dialogue
with the potential customers based on their needs and lifestyles.It
Promot Commun
represents a broader focus. Communications can include advertising,
ion
icatio
public relations, personal selling,viral advertising, and any form of
n
communication between the organization and the consumer.

Place

In the era of Internet,catalogs, credit cards and phones people

neither need to go anyplace to satisfy a want or a need nor are
limited to a few places to satisfy them. Marketers should know how
the target market prefers to buy, how to be there and be ubiquitous,
Conven in order to guaranteeconvenience to buy.With the rise of Internet and
ience
hybrid models of purchasing, Place is becoming less relevant.
Convenience takes into account the ease of buying the product,
finding the product, finding information about the product, and
.

The Purpose of the Four Ps

The four Ps of marketing (4 Ps), otherwise

known as The Marketing Mix, are a set of tools

that help companies gain advantage within the
marketplace. The 4 Ps are put in place to help
maximize a products potential.
The four Ps are a tried-and-true formula for an
effective marketing plan. The reason the 4 Ps
were developed decades ago was to determine a
specific recipe or marketing mix that will satisfy
both the needs of the customer and the retailers
needs. This recipe has proven to be successful
when properly determined and utilized.

Company-to company marketing

Quite apart from consumer markets there exists an

enormous producer or industrial or business

market,consisting of all the individuals and organizations
that acquire goods or services that are used in the
production of other goods.Few consumers realize that
the producer market is actually larger than the consumer
market,since it contains all the raw
materials,manufactured parts and components that go
into consumer goods,plus capital equipment such as
buildings and machines,supplies such as energy and
pens and paper,all of which have to be marketed.There
is consequently more industrial than consumer
marketing,even though ordinary consumers are seldom
exposed to it.

Marketing research
Marketing researchis "the process or set of

processes that links the consumers, customers, and

end users to the marketer through information
information used to identify and define marketing
opportunities and problems; generate, refine, and
evaluate marketing actions; monitor marketing
performance; and improve understanding of
marketing as a process. Marketing research specifies
the information required to address these issues,
designs the method for collecting information,
manages and implements the data collection process,
analyzes the results, and communicates the findings
and their implications."

Role of marketing research

The task of marketing research (MR) is to provide management

with relevant, accurate, reliable, valid, and current information.

Marketingmanagersmake numerous strategic and tactical
decisions in the process of identifying and satisfying customer
needs. They make decisions about potential opportunities,
target market selection, market segmentation, planning and
implementing marketing programs, marketing performance,
and control. These decisions are complicated by interactions
between the controllable marketing variables of product,
pricing, promotion, and distribution.Another factor in this mix
is the complexity ofconsumers. Marketing research helps the
marketing manager link the marketing variables with the
environment and the consumers. It helps remove some of the
uncertainty by providing relevant information about the
marketing variables, environment, and consumers.

Marketing research characteristics

First, marketingresearch is systematic. Thus

systematic planning is required at all the

stages of the marketing research process. The
procedures followed at each stage are
methodologically sound, well documented,
and, as much as possible, planned in advance.
Marketing research isobjective. It attempts to
provide accurate information that reflects a
true state of affairs. It should be conducted
impartially.