Marketing

• Marketing used to be associated with the business activity of telling and selling.
• Philip Kotler, a well-known marketing author,
• Kotler defined marketing as “a social and managerial process by which

  individuals and groups obtain what they need and want through creating and exchanging

  products and value with others.”
• marketing- It is the process of establishing and maintaining successful customer relationships.
• Marketing explores customer behaviors and journeys and uses these data to make insightful and intelligent business decisions.
• Marketing helps you get to know your customers better using strategies that do not employ

  a one-size-fits-all approach.
• Marketing provides you the ability to influence the decisions and purchasing behaviors of

  your target market.
• Many decision-making processes rely heavily on perception—the way

  customers view a product or service.
• Marketing could be described in an adage by the author and inspirational speaker Simon

  Sinek.
• marketing process guides companies in creating value for their customers and

  building strong customer relationships.
• The first stage in the marketing process is to understand the market.
• market refers to the area or arena where buyers and sellers

  meet.
• Needs include necessities that people need to survive, like food,

  clothing, and water.
• Wants are needs based on an individual's personality or culture, like a

  hamburger or a pair of jeans.
• demand

  forms. As marketers, you would want to have a demand for your products or services.
• they conduct a competitor analysis to

  learn how other sellers perform against one another.
• The second stage is to design a customer-driven marketing strategy.
• target market is the group of consumers likely to purchase your product or avail of

  your service.
• To describe your standard customer, you

  must create your buyer persona or a sample representation of your ideal customer.
• unique selling proposition (USP) consists of features that make a brand better

  than its competitors.
• market offering, or the combination of products, services, information, or experiences to

  satisfy consumers' wants or needs.
• the third

  stage: creating an integrated marketing plan.
• marketing plan aims to communicate its USP, make the brand known, and get the

  word out there.
• The fourth stage of the marketing process deals with customer value and satisfaction and

  customer engagement.
• According to Hubspot, around 67% of consumers say they need to

  trust a brand or a product before purchasing.
• Customer engagement is encouraging your customers to interact and share experiences

  with your brand.
• The fifth stage of the marketing process involves capturing value from customers through a

  sale.
• customer equity or the total combined customer values of the

  company's current and potential customers.
• Marketing consists of key components that companies position their business strategically.
• The marketing mix forms part of the overall marketing plan

  that defines the goals, objectives, and strategies for bringing a new product or service to the

  market.
• 7P's: product, price, place, promotion, people, packaging, process
• A product is a good or service that a business provides to its consumers.
• Price refers to the amount customers pay to purchase a product or avail of a service.
• Place refers to the area or space where the business sells product and the strategies to get

  it to the market.
• Promotion includes advertisements, public relations, and awareness strategies.
• mission statement explains the company’s purpose and primary goals.
• vision statement expresses what the business aspires to become in the world.
• Company values or core values are a collection of guiding principles and essential beliefs

  that empower individuals to operate as a team toward a common business goal.
• Core values are guiding principles that help shape the company's mission and support its

  vision.
• goal is a broad aim established to start the business planning process,