Hi Monika
Very good and important question. Lets first define What is Marketing? Marketing is communicating the value of a product, service or brand to customers, for the purpose of promoting or selling that product, service, or brand.
Marketing has 4 Key elements:
Research – finding out (researching your customer)
Strategy – the vision – A strategy is a holistic view of the organization's purpose. It is usually expressed in terms of:
Log-term objectives
Actions to achieve these
Resource allocation necessary to support them
Planning – the how – A written plan is vital to focus your marketing effort and to control it. It comprises of:
Statement of intent – Management and executive time/input.
Attempt at qualifying the future – Commitment
Cohessive structure – Cost
Signposts for actions – Research
Base for evaluation and feedback – assunptions
Outcome of a logical process - Review
Tactics – at the sharp end.- To put your marketing into action, you have to communicate your offer to your customers cost effectively and in terms they understand (address their wants and needs)
You need to:
1. Use the best and most appropriate communication channels.
2. Manage your relationship with them
3. Get feedback and act on it.
4. Monitor how you are doing against your plan.
Essentially, this is the promotional part of the marketing mix.
A marketing plan is a comprehensive blueprint which outlines an organization's overall marketing efforts. A marketing process can be realized by the marketing mix.. The last step in the process is the marketing controlling.
Marketing is all about giving the customer what he wants.
This encapsulates:
Product: The properties of your service.
Price: The right price and value
Place: Availability.
Promotion: Informing customers in a manner that they understand.
Marketing people call this the 4Ps, but is driven by the Customer Value Proposition (CVP).
Hope it helps
Cheers !!
less
Hi Monika
Very good and important question. Lets first define What is Marketing? Marketing is communicating the value of a product, service or brand to customers, for the purpose of promoting or selling that product, service, or brand.
Marketing has 4 Key elements:
Research – finding out (researching your customer)
Strategy – the vision – A strategy is a holistic view of the organization's purpose. It is usually expressed in terms of:
Log-term objectives
Actions
...
more
