MARKETING BASCIS CONCEPTS

1. Product

1.1. In marketing, a product is anything that can be offered to a market that might satisfy a want or need. In retail, products are called merchandise. ... In project management, products are the formal definition of the project deliverables that form the objectives of the project.

2. Distribution

2.1. Distribution is one of the four elements of the marketing mix. Distribution is the process of making a product or service available for the consumer or business user who needs it. This can be done directly by the producer or service provider, or using indirect channels with distributors or intermediaries

3. Price and Promotion

3.1. price promotion is a marketing technique wherein the price of a product is kept reduced for a short period to build customer loyalty and swell sales volume, and then increased later on.

4. Marketing Research

4.1. Market research is the process of determining the viability of a new service or product through research conducted directly with potential customers. Market research allows a company to discover the target market and get opinions and other feedback from consumers about their interest in the product or service.

5. Buying Behavior

5.1. Consumer behavior is the series of behaviors or patterns that consumers follow before making a purchase. In simple words, Buying Behavior is the decision processes and acts of people involved in buying and using products. Need to understand: why consumers make the purchases that they make?

6. Marketing Environment

6.1. The Marketing Environment includes the Internal factors (employees, customers, shareholders, retailers & distributors, etc.) and the External factors( political, legal, social, technological, economic) that surround the business and influence its marketing operations.

7. Strategy Development and Planning

7.1. Strategic marketing planning involves setting goals and objectives, analyzing internal and external business factors, product planning, implementation, and tracking your progress. ... The strategic marketing process puts all the pieces together so that everything you do contributes to the success of your business.

7.2. The development of a marketing strategy involves the isolation of a target market segment, a set of clear-cut goals, a fair amount of consumer research, and the implementation of initiatives aimed at getting the word out.

8. Global Marketing

8.1. Global marketing is defined as the process of adjusting the marketing strategies of your company to adapt to the conditions of other countries. Of course, global marketing is more than selling your product or service globally.