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Marketing

Meeting place for buyers and sellers

What is a market?

Consumer markets individuals purchasing goods/services for their personal use

Industrial markets organizations purchasing goods/services to use in the production of other goods/servicesTypes of market

The process involved in identifying,anticipating and satisfying consumer requirements profitably

What is marketing?

Product

The goods/services that the customer purchases

Products includePackagingImage guaranteeAfter-sales service

The amount of money for which something is offered for sale

Pricing methods Cost orientated pricingDemand orientated pricing Competition orientated pricing Price

The place which is convenient for consumers to access or where customers buy a product

Channels of distribution RetailersWholesalersSales agentsDirect

Place

The way a business communicate what it does and what it can offer to customers

Types of promotion Advertising Sales promotionsPublic relations

Promotion

The systematic gathering, recording, and analysing of data about an organizations products and services and its target marketMarket Research

To anticipate changes in customer tastesKeep ahead of competition Meeting customer needsAttract new market segments

Why Market Research?

The process of dividing a potential market intodistinct subsets of consumers and selecting one or more segments as a target market to be reached with a distinct marketing mixMarket Segmentation

Effective use of resources Gain a focusCreate value for a target market positioning

Benefits Of Segmentation

Is a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a competitive advantage Marketing Strategy

Leader strategies Challenger marketing strategyNiche marketing strategyFollower marketing strategyMarketing strategies types

A set of powerful tools and methodologies used for promoting products and services through the internet Online Marketing