Introduction:-
Marketing is the process of communicating the value
of a product or service to customers, for the purpose of selling that product
or service. Marketing can be looked at as an organizational function and a set
of processes for creating, delivering and communicating value to customers, and
customer relationship management that also benefits the organization. Marketing
is the science of choosing target markets through market analysis and market
segmentation, as well as understanding consumer behavior and providing superior
customer value.
From a societal point of view, marketing is the link
between a society’s material requirements and its economic patterns of response.
Marketing satisfies these needs and wants through exchange processes and
building long term relationships.
Marketing may be defined in several ways, depending
on the role of the advertised enterprise in relation to the strategic role in positioning
the firm within its competitive market. The main definition is often credited
to Philip Kotler, recognized as the originator of the most recent developments
in the field, for the works that appeared from 1967 to 2009.
Sr. No | 7 Ps of Marketing | 4 Cs of Marketing | 5 Ms of Marketing |
---|---|---|---|
1. | Product | Customer needs & wants | Market |
2. | Price | Cost to the customer | Management |
3. | Promotion | Communication | Money |
4. | Place | Channel | Manpower |
5. | Physical Evidence | Manifacturing | |
6. | Positioning | ||
7. | People |
Marketing Awareness Quiz |
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