The process of identifying and satisfying customer requirements with a profitfora company
Marketing is more than just advertising, promotion, and selling. It's an ongoing process that involves researching, planning, implementing, and reviewingstrategiestomeetcustomers'needs.
Marketing activities carried out by companies to sell their products
Predicting what consumers might want to buy
Developing new products or improving existing ones
Figuringout who will buy the product
Creating and illustrating a market map
Evaluating the company's position in the market
In the past, businesses focused on their products and then tried to find buyers. Nowadays, with global competition, most companies focus on understanding consumerneedsbefore creating products.
Market segmentation
A key concept in marketing based on the idea that similar people buy similar products
Factors businesses can use to segment markets
Where customers are located
Who they are (age, gender, education)
Why they need the product
How they buy it
E-marketing
The use of the internet and digital technologies to promote and sell products or services
E-marketing is like traditional marketing, but it uses the internet and digital tools. It includes advertising online, sending emails, and using social media.
With e-marketing, businesses can reach more people and use different strategies like social media marketing and email campaigns.
Businesses set goals for e-marketing using the 5 S's
Sell
Serve
Speak
Save
Sizzle
Sell
Use the internet to make your product standout and build brandawareness by adding special features that wow customers
Serve
Improve customer service by using the internet to quickly respond to questions
Speak
Engage with customers online to understand their needs
Save
Cutcosts by using the internet instead of traditional methods like printing
Sizzle
Build a strong online brand identity that creates a positive experience for customers and sets your business apart from competitors