Marketing---Marketing -Marketing---Marketing
Marketing
Defining Marketing
Your learning objective:
· Identify the definition of marketing
Marketing Generates
· Ideas
·
Solutions
Marketing is the process of identifying what your customers want and developing methods to satisfy
their needs. An effective marketing campaign generates the ideas and solutions to create, distribute,
promote, and price the products or services that appeal to your customers.
· Relationships with customers
You should use the marketing process to establish a relationship with your customers. By properly
researching your industry, competitors, and potential customers, you can enhance your ability to
develop a product or service that satisfies your customers' needs, is available in the right places, and
features a price that is attractive to consumers.
Marketing strategy:
A marketing strategy is a set of specific ideas and actions that outline the best way to create,
distribute, promote, and price a product or service. When creating your marketing strategy, you
should consider how best to use your organization's resources and core competencies to meet
company goals and objectives.
Marketing plan:
A marketing plan is a written document that details the marketing strategy for a specific product or
service. The marketing plan describes your company's current situation, the strategy's goals and objectives, the actions and resources required to meet the goals and objectives, and a monitoring
system to measure progress.
Marketing plan explains:
An effective marketing plan is also an important communication tool. When done well, it explains the
roles and responsibilities of appropriate personnel, the time frame the implementation process must
follow to remain on schedule, and the results company decision makers expect.
Keep in mind that while marketing plans designed to support short-term strategies should provide
detailed information, plans created to cover extended periods, such as five years or longer, should
offer less-specific information to remain flexible.
Explaining Terms
· Identify definitions of key marketing terms and language
· Identify components of a SWOT analysis
Evolution of marketing:
The evolution of marketing is typically divided into four eras: Production Era, Sales Era, Marketing
Era, and Relationship Era.
Production Era
The production era is often linked to the nineteenth and early twentieth centuries when assembly lines
filled the marketplace with mass-produced goods. Manufacturers produced a product and sold it with
relatively little effort. Company leaders of the era believed quality products or services sold
themselves, so little marketing effort was committed to promoting them.
Marketing
Defining Marketing
Your learning objective:
· Identify the definition of marketing
Marketing Generates
· Ideas
·
Solutions
Marketing is the process of identifying what your customers want and developing methods to satisfy
their needs. An effective marketing campaign generates the ideas and solutions to create, distribute,
promote, and price the products or services that appeal to your customers.
· Relationships with customers
You should use the marketing process to establish a relationship with your customers. By properly
researching your industry, competitors, and potential customers, you can enhance your ability to
develop a product or service that satisfies your customers' needs, is available in the right places, and
features a price that is attractive to consumers.
Marketing strategy:
A marketing strategy is a set of specific ideas and actions that outline the best way to create,
distribute, promote, and price a product or service. When creating your marketing strategy, you
should consider how best to use your organization's resources and core competencies to meet
company goals and objectives.
Marketing plan:
A marketing plan is a written document that details the marketing strategy for a specific product or
service. The marketing plan describes your company's current situation, the strategy's goals and objectives, the actions and resources required to meet the goals and objectives, and a monitoring
system to measure progress.
Marketing plan explains:
An effective marketing plan is also an important communication tool. When done well, it explains the
roles and responsibilities of appropriate personnel, the time frame the implementation process must
follow to remain on schedule, and the results company decision makers expect.
Keep in mind that while marketing plans designed to support short-term strategies should provide
detailed information, plans created to cover extended periods, such as five years or longer, should
offer less-specific information to remain flexible.
Explaining Terms
· Identify definitions of key marketing terms and language
· Identify components of a SWOT analysis
Evolution of marketing:
The evolution of marketing is typically divided into four eras: Production Era, Sales Era, Marketing
Era, and Relationship Era.
Production Era
The production era is often linked to the nineteenth and early twentieth centuries when assembly lines
filled the marketplace with mass-produced goods. Manufacturers produced a product and sold it with
relatively little effort. Company leaders of the era believed quality products or services sold
themselves, so little marketing effort was committed to promoting them.