Marketing
Do you know, meaning of the marketing? Some are thinking it is just for sales of goods and services. Marketing has broad meant other than that it mainly focuses satisfaction of customer needs and wants in a profitable manner.
In marketing we try to give competitive advantages for the customers. For that we can go for product differentiation. Example for product differentiation is newspaper produce for small children, women and focusing politics etc. Other example is umbrellas produce in difference size and different color for targeting consumer attract for the particular product than the competitors.
Satisfaction more than the expectation cause to make delightful experiences for the consumers. We can give delightful experiences for the consumers by doing optimist performance through product, price, promotion and distribution.
4P is main component of the marketing mix. Through product we can consider about the tangible and intangible attributes of the product. Through price we can go for price discrimination. When we introduce new product to the market, we can follow penetration pricing strategy. Means, product introduce at lower price for the market then price gradually increase. This strategy mainly suitable for mass market product.
We can deliver offers, discount, price reduction like techniques to bring delightful experiences for the consumers. Under the promotion, we can do persuasive advertisement to get the focus from the consumers than the competitors. Under the distribution, main theory is place utility and time utility. Which means product available in right time at right place.
Marketing mainly considers satisfy consumer needs and wants. It helps to position our brand in the market as well as consumer mind. It is called mind positioning. That brand positioning helps to develop loyalty of the consumers.
Example for brand positioning is,
Mobitel - we care always
Dialog- future today
Manchee- rasa lowa raja kirula
Sunlight - by the history.
Maliban - more than the taste.
Example for loyal brand in the market is. Rinso, Bata Anchor etc.
that is true. we also learnt marketing as one of our subjects. it is not just a simple thing.
yes. It cover broad area.
Marketing consists of tested models and calculations with numbers. I would not call it some unknown or creative process. Usually this is mostly analytics of numbers and improvement of existing business processes (increase in performance indicators).
You can come up with various marketing models yourself or take ready-made ones from any other company. The second option is usually more efficient and faster.
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