What is Marketing?
Marketing refers to all activities of a company or firm to promote the products and services . In marketing, we advertise our product or service to grow our business. Our aim in marketing is to increase brand loyalty and sales of the company.
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| WHAT IS MARKETING? |
Define Marketing Process?
Marketing process is a process in which we promote our business products and services to the customers and we try to strengthen our business relationship with our customers.
Steps of Marketing Process:-
Understanding the needs or wants of market
Creating a Plan That Delivers Good Value
Build good and profitable relationships
Getting value from customers
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Affiliate model
Franchise model
Manufacturer model
Freemium model
Free for service model
Retail model
Subscription model
4P’s of Marketing:
- Product
- Price
- Place
- Promotion
Product- Product is an item or service that is being created for a target audience. Before making any product, we should think that which product we want to make and how much demand is there for our product in the market.
Price- To sell an item, it is necessary to determine the price of that item or service. While setting the price, we must keep in mind how much our goods or services cost in comparison to our competitors. We should take special care of the cost at which the consumer can buy our product or service.
Place- It is necessary to have a place to sell any product and we need a place to sell the product. If we produce our goods in a place where the target customer will not go, then we will not be able to achieve our goal.
- Promotion- The easiest way to make customers aware of your product is by promoting your product. Promotion can be done in different ways:-television broadcasts, radio broadcasts, newspaper broadcasts. Before promoting, we should take this information that what is the right time to promote, so that we can target the right audience.
What is SWOT analysis?
S stands for strength
W stands for weakness
O stands for opportunities
T stands for threats
Product- Product is an item or service that is being created for a target audience. Before making any product, we should think that which product we want to make and how much demand is there for our product in the market.
Price- To sell an item, it is necessary to determine the price of that item or service. While setting the price, we must keep in mind how much our goods or services cost in comparison to our competitors. We should take special care of the cost at which the consumer can buy our product or service.
Place- It is necessary to have a place to sell any product and we need a place to sell the product. If we produce our goods in a place where the target customer will not go, then we will not be able to achieve our goal.
- Promotion- The easiest way to make customers aware of your product is by promoting your product. Promotion can be done in different ways:-television broadcasts, radio broadcasts, newspaper broadcasts. Before promoting, we should take this information that what is the right time to promote, so that we can target the right audience.
What is SWOT analysis?
S stands for strength
W stands for weakness
O stands for opportunities
T stands for threats
STRENGTH: What can you do well? What unique resources can you use? What do other competitors see as your strengths?
WEAKNESS: What can you improve? Where do you have less resources than others? What weaknesses are others likely to see? That we can fix.
OPPORTUNITIES: What opportunities are open to you and what trends can you take advantage of and how can you turn your strengths into opportunities?
THREATS: What threats can hurt you and what your competitor is doing and what are your weaknesses and what are the threats you face and how to eliminate threats?
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