marketing

What Are Some Basics In Marketing You Should Know About?

Marketing is something that can be defined by a lot of words. However, the one definition, which can be used to sum it all up is no other than that of being this. It is the total number of all activities that are directly involved in the transfer of goods or services from the producer or seller to the consumer or buyer. It also includes advertising, shipping, storing, and selling, as well, in addition. The alternate definition for marketing is one that involves all of the activities that are connected to the preparation for sales. Therefore, marketing can be categorized as being two things, and these two things are as a branch of business and a social science.

What marketing is in existence for is to satisfy the needs of many people. Who are these many people? They are no other than customers on the market. These customers on the market create a sense of usefulness or utility for themselves through the exchange process. Marketing is able to channel the existing gap that does exist between service and product providers with service and product seekers.

What are some of the most common of all principles that do govern marketing? They are as follows. They are:

The Marketing Mix or the 4 P’s are no other than:

  • Product
  • Place
  • Promotion
  • Price

The concept of the Marketing Mix or the 4 P’s has since been replaced with the 7 P’s which are:

  • Product
  • Price
  • Place
  • Promotion
  • People
  • Packaging
  • Positioning

The basic marketing principles presented here for example are in place for one reason. What is this one reason? This reason is to be able to specifically satisfy a certain target market or target demographic that does exist. This target market or target demographic is the very pool of potential customers that are waiting to be reached.