What Is Marketing?
(1)What is marketing?
According to Philip Kotler, “Marketing is human activity directed at satisfying needs and wants through exchange process”. There are many definitions of marketing but one of the simplest explanations is that: “Marketing is getting the right product or service in the right quantity, to the right place, at the right time and making profit in the process”.
Marketing deals with identifying and understanding your customer and giving them what they want. It’s not just about advertising and promoting your business. Effective marketing is a result of examining every aspect of your business and how it affects your consumers’ end experience. Ultimately, it covers everything you will need to do in order to deliver your products or services to the consumer including research, planning, pricing, packaging, promotion, selling and lastly distribution.
(2)Describe the four P’s.
Marketing is a business function that identifies customers’ needs, determines target markets and how to apply these products or services to the markets. A strategy commonly used is known as the “Marketing Mix”. According to Philip Kotler, “A marketing mix is the mixture of controllable marketing variables where firm uses to pursue the sought level of sales in the target market”.
In other words, it is the set of controllable tactical marketing tools which concentrates on combination of four basic elements; product, price, place, and promotion (4 Ps) that the firm blends to produce the response it wants in the target market. The following describes the four P’s of marketing;
Product – are the goods and services combination that the company offers to the target market. The business has to produce a product that people will want to buy. This is the first element in the marketing mix. The product mix includes variables ranging from quality, product line, physical features of a product, packaging & labeling of product, branding & trade mark, product innovation, services
According to Philip Kotler, “Marketing is human activity directed at satisfying needs and wants through exchange process”. There are many definitions of marketing but one of the simplest explanations is that: “Marketing is getting the right product or service in the right quantity, to the right place, at the right time and making profit in the process”.
Marketing deals with identifying and understanding your customer and giving them what they want. It’s not just about advertising and promoting your business. Effective marketing is a result of examining every aspect of your business and how it affects your consumers’ end experience. Ultimately, it covers everything you will need to do in order to deliver your products or services to the consumer including research, planning, pricing, packaging, promotion, selling and lastly distribution.
(2)Describe the four P’s.
Marketing is a business function that identifies customers’ needs, determines target markets and how to apply these products or services to the markets. A strategy commonly used is known as the “Marketing Mix”. According to Philip Kotler, “A marketing mix is the mixture of controllable marketing variables where firm uses to pursue the sought level of sales in the target market”.
In other words, it is the set of controllable tactical marketing tools which concentrates on combination of four basic elements; product, price, place, and promotion (4 Ps) that the firm blends to produce the response it wants in the target market. The following describes the four P’s of marketing;
Product – are the goods and services combination that the company offers to the target market. The business has to produce a product that people will want to buy. This is the first element in the marketing mix. The product mix includes variables ranging from quality, product line, physical features of a product, packaging & labeling of product, branding & trade mark, product innovation, services