Principle of Marketing | Marketing Principles and Strategies
processes for creating, communicating, delivering, and exchanging offerings
marketing
to live and survive.
needs
a person desires to have
wants
supported by buying power
demands
the buyer and seller trade something of equal value
exchange
physical goods comprise
goods
as economies progress, a growing proportion of their activities are concentrated
services
one can generate, stage, and market experiences
experiences
marketers endorse time-based events
events
celebrity marketing has turn into a main and popular business
persons
consist of economic development specialists, real estate agents, commercial banks, local business associations, and advertising
places
intangible rights of ownerships of either real property
properties
aggressively labor to create a strong, positive image
organizations
the production, packaging, and distribution of information
information
fundamental idea
ideals
marketing strategy a company uses to determine if it can produce a viable product consumers want or need.
traditional concept marketing
focuses on the internal potentials of the company
production concept
personal selling and advertising done aggressively
sales concept
organization must try hard to find out and satisfy the needs and wants of consumers
marketing concept
maintaining and improving value added long-term relationships
relationship concept/marketing
organizations must satisfy the needs of consumers in a manner that gives for society's benefit
societal marketing concept
the broad aims used to shape strategy
goals
the SMART targets for marketing which can be used to track performance against target
objective
to pinpoint real-world problems and opportunities
specific
a quantitative attribute to be applied to create a metric
measurable
a quantitative attribute to be applied to create a metric
attainable
applied to the specific problem faced by the marketer
relevant
set for different time periods as targets to review against
time based
used to check that the marketing activities of a company are on track
key performance indicator (kpi)
goals must be realistic
attainable
set goals that are consistent with one another
consistency
each functional area must be able to formulate its own goals that relate to the organization's goals
comprehensiveness
planners often confuse goals with strategies, objectives and even tactics
intangibility
a type of organization that does not aim for earning profit for its owners
non-for-profit organization marketing
aimed at cultivating the attention, interest and preferences of a target market
person marketing
used to attract tourist and showcase the beautiful spots
place marketing
the recognition and marketing of a social issue, cause or idea to the target markets. increases the awareness of issues
cause marketing
consists of different sponsors from different companies to support such activities and also serves as public awareness
event marketing
promoting its benefit that is environmental friendly or produced in an environmentally friendly way
green marketing