Basic Concept Of Marketing

The marketing is a word that has many definitions and yet they all bear a resemblance to each other; we can say that marketing “is that human activity aimed at satisfying needs, needs and desires through exchange processes”.

MARKET TECHNOLOGY

According to the American Marketing Association (AMA) marketing is “the process of planning, executing and conceptualising price, premeditation and distribution of ideas”.

There are some premises on which the marketing concept rests, and these are:

  • The organization understands that its mission is to satisfy a set of desires and needs of a particular group of customers; furthermore, it recognizes that satisfying those desires requires a good market research program to know what those desires are.
  • The organization recognizes that all company activities that tend to affect customers should be placed under integrated marketing control.
  • The organization believes that doing a good job of satisfying its customers will earn their loyalty, preference and good opinion.

MARKET OBJECTIVE

It can be said that the main objective of marketing is to seek the satisfaction of consumer needs through a group of coordinated activities that will at the same time allow the organization to achieve its goals.

Customer satisfaction is the most important aspect of marketing. To achieve this, the company must investigate what the customer’s needs are in order to create products that really satisfy the consumer’s desires.

That is why marketing has the task of regulating the demand for products so that this way the company can achieve its objectives. The logical market plan to be carried out depends on demand:

IMPORTANCE OF MARKET TECHNOLOGY

Marketing activities contribute directly to the sale of a company’s products and create opportunities for innovation.

MARKET ADMINISTRATION MARKET TECHNOLOGY

The management of any company requires a series of steps that must be developed properly and timely.

We can say that management is “the process of designing and maintaining an environment in which working as a team, individuals efficiently meet specific objectives”.

The management of a company and its products should not only consider the aspect of the goods and services it provides, but also the direction of an organization that is a supplier of valuable satisfaction and capable of creating new customers.

Thus, in short, marketing management is “the process of planning, organizing, directing and controlling efforts to achieve desired exchanges with target markets by the organization.

I will try to explain shortly the following approaches from which marketing activities can be seen:

Marketing management is studied through the following stages:

  • Marketing planning
  • Organization
  • Address
  • Summarization
  • Control

MARKET PLANNING

In short, marketing planning is a systematic process that involves studying the possibilities and resources of a company, as well as setting objectives and strategies and developing a plan to implement it, and monitoring.

THE FOUR P’ S OF MARKET TECHNOLOGY

The Marketing Mixture is a set of marketing variables through which a strategy is developed to produce a positive response from consumers. The Marketing Mix consists of four elements that are the four P’ s: 1) Product, 2) Price, 3) Square and 4) Promotion. Some teachers add the concept of Quality as an additional element.

Here is a brief description of each of them:

Product:

It is everything that is susceptible of being bought, changed, transferred, etc.. It includes how it is designed, classified, positioned, packaged and recognized through a brand.

Price:

It’s what you pay for any product or service you consume. It has a profound influence on consumer perceptions of the brand. Indicates what and how much the customer pays for a product. Companies apply several strategies when setting it. Some products compete with price.

Plaza (Distribution):

The place where your product is available. Marketing professionals should be aware that the distribution method, like price, must be compatible with the brand image. Distribution refers to how the product is made available to the consumer: where it is distributed, how it is bought and sold.

Leave a Reply