Marketing - what is marketing?
Marketing is an integrated communications-based process through which individuals and communities discover that existing and newly-identified needs and wants may be satisfied by the products and services of others.
Marketing is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
The term developed from the original meaning which referred literally to going to market, as in shopping, or going to a market to buy or sell goods or services.
Marketing practice tends to be seen as a creative industry, which includes advertising, distribution and selling. It is also concerned with anticipating the customers' future needs and wants, which are often discovered through market research.
Seen from a systems point of view, sales process engineering views marketing as a set of processes that are interconnected and interdependent with other functions, whose methods can be improved using a variety of relatively new approaches.
Marketing is influenced by many of the social sciences, particularly psychology, sociology, and economics.
Anthropology and neuroscience are also small but growing influences. Market research underpins these activities through advertising, it is also related to many of the creative arts. The marketing literature is also infamous for re-inventing itself and its vocabulary according to the times and the culture.
Brand - what is Brand?
A brand is a name, term, design, symbol, or other feature that distinguishes products and services from competitive offerings. A brand represents the consumers' experience with an organization, product, or service. A brand is more than a name, design or symbol. Brand reflects personality of the company which is organizational culture.
Marketing communications breaks down the strategies involved with marketing messages into categories based on the goals of each message. There are distinct stages in converting strangers to customers that govern the communication medium that should be used.
Advertising - what is advertising?
Paid form of public presentation and expressive promotion of ideas aimed at masses. Manufacturer may determine what goes into advertisement. Pervasive and impersonal medium.
There are Eight steps in an advertising campaign
- Market research
- Setting out aims
- Budgeting
- Choice of media (television, newspaper/magazines, radio, web, outdoor)
- Choice of actors and players (New Trend)
- Design and wording
- Co-ordination
- Test results
Marketing channel what is marketing channel?
A marketing channel is a set of practices or activities necessary to transfer the ownership of goods, and to move goods, from the point of production to the point of consumption and, as such, which consists of all the institutions and all the marketing activities in the marketing process.a marketting channel is a useful tool for the management.
Roles of marketing channel in marketing strategy:
- Links producers to buyers.
- Performs sales, advertising and promotion.
- Influences the firm's pricing strategy.
- Affecting product strategy through branding, policies, willingness to stock and customizes profits, install, maintain, offer credit, etc.
