Marketing

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In this lesson, we will introduce you to the business function of marketing. After you work out this lesson, you should be able to:

  • Define marketing and the utility (value) it creates for the customer
  • Trace the origin of marketing and explain how it has evolved
  • Describe the elements of a marketing strategy
  • Understand the scope of marketing
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Objectives of Marketing Process

In this lesson, we will introduce you to the activities that make upĀ the marketing process. After you work out this lesson, you should be able to:

  • Identify the parts of the marketing process
  • Understand the relationships among the parts of the marketing process
  • Explain how the marketing process creates, captures and sustains value for the customer
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In this lesson, we will introduce you to the activities, viz., segmentation, targeting and positioning, that are collectively referred to as marketing strategy. After you work out this lesson, you should be able to:

  • Segment the markets based on several segmentation variables
  • Target a segment by identifying the fit between segment profitability and organizational capability
  • Position your product/service so that it occupies a distinct and valued place in the target customers’ minds
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Improving your competitive edge

The Marketing Plan is a written strategy for selling the products/services of a new business. It is a reflection of how serious a company is in meeting the competition head-on, with strategies and plans to increase market share and attract customers. An effective Marketing Plan is backed by carefully collected market, consumer and competitor information, sometimes citing professional advice.

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Resume: From its appearance until now, marketing has been approached under diverse aspects, from market theories to constituent elements, all being based on the four elements of the marketing mix: product, price, placement and promotion, developing around them specific policies, the inner correlations, investigation methods and techniques, experimental texts and motivation studies.