marketing

marketingPascari Irinamkl133Defining marketingThemanagementprocessthrough whichgoods and servicesmove fromconceptto the customer. Marketingis based on thinking about thebusinessintermsofcustomer needsand theirsatisfaction.

Marketing has less to do with getting customers topayfor your product as it doesdevelopingademandfor that product and fulfilling the customer's needs.

marketing mixA planned mix of the controllableelementsof aproduct'smarketing plancommonly termed as 4Ps: product,price, place, andpromotion.

(1) identification,selectionanddevelopmentof aproduct,(2) determination of itsprice,(3) selection of adistribution channeltoreachthecustomer'splace, and(4) development and implementation of apromotional strategy.

These four elements are adjusted until therightcombinationis found thatservestheneedsof the product'scustomers, while generatingoptimumincome. Sometimes the first P (Product) is substituted bypresentation.

Four PsFour CsDefinitionProductConsumerwants and needsA company will only sell what the consumerspecificallywants to buy. So, marketers should study consumer wants and needs in order to attract them one by one with something he/she wants to purchase.PriceCostPrice 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 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.PromotionCommunicationWhile 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 represents a broader focus. Communications can include advertising, public relations, personal selling,viral advertising, and any form of communication between the organization and the consumer.PlaceConvenienceIn 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, in order to guaranteeconvenience to buy.With the rise of Internet and 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 several other factors.The Purpose of the Four PsThe 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 marketingQuite 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 researchMarketing 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.