Let start by the definition of marketing: Marketing is define as the activity, set of institution, and processes for creating, communication, delivering and exchanging offerings that have value for customers, client, partners and society at large.And marketing also satisfying needs and wants through and exchange process.And we have the basic concepts in marketing: they are
Production concepts: this is the consumers prefer products that are widely available and inexpensive, they will favor products that are available and highly affordable.
Product concept: The product concept holds that the consumers will favor products that offer the most in quality, performance and innovative features.
Selling concept: consumers will not buy enough of firm's product unless it undertakes a large scale selling and promotion effort.they will only buy product only if the company aggressively promotes or sells these products.
Marketing concept: Focuses on needs and wants of target markets & delivering value better than competitors.the marketing concept believes in the pull strategy and says that you need to make your brand so strong that customers themselves prefer your brand over every other competitor.
Societal marketing concept: Focuses on needs and wants of target markets & delivering value better than competitors that preserves the consumers and society's well being.
What are the importance of marketing:
1: Meets consumet needs and wants
2: Ensure organization survival, growth reputation
- Widens market
4.Adapting the right price - Better product offerings
- create utility
- Management of demand
- Face competition
9.Economic growth
We have 7 ps of Marketing Mix: there are:
1.Product: The product should fit the task consumers want it for, it should be what the consumers are expecting to get.
2.place: The product should be available from where your target consumer finds it easiest to shop.
3.Price: The product should always be seen as representing good value for money.this does not mean it should be the cheapest available .
4.Promotion: Advertising, sales promotion, personal selling, in more recent times, social media are all key communition tools for an organisation.
5.Process
6.People
7.Physical evidence
That are marketing