What is Marketing
Last updated
Last updated
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Attract new customers by promising superior value.
Keep and grow current customers by delivering satisfaction.
Pricing
Advertising
Distribution
Sales
Promotion
Public relations
Social media
Sales
The marketing mix refers to the four key elements that make up a company's marketing strategy. These elements are often referred to as the "Four Ps" of marketing.
Product: This refers to the goods or services a company offers to its customers. It includes the design, features, packaging, and branding of the product. The product element of the marketing mix is all about creating a product that meets the needs and wants of the target market.
Price: This is the amount of money a customer must pay to acquire the product. It includes the list price, discounts, financing, and leasing options. The pricing element of the marketing mix is all about determining a price that will be attractive to customers while still providing the company with a profit.
Place: This is the location where the product is sold. It includes the distribution channels, such as retail stores, online marketplaces, and direct sales. The place element of the marketing mix is all about getting the product to the customer in the most efficient and cost-effective way possible.
Promotion: This is the communication of the product's features and benefits to potential customers. It includes advertising, sales promotions, public relations, and personal selling. The promotion element of the marketing mix is all about creating a message that will persuade customers to buy the product.
