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Marketing: An Introducation

by ndssbiz
Last updated 7 years ago

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Marketing:An Intro

Marketing is the right product, in the right place, at the right time and at the right price.

Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably.The Chartered Institute of Marketing

A marketing department tries to answer:* Who are our existing / potential customers?* What are their current / future needs or wants?* How can we satisfy their needs or wants? * What do we have to offer? * How can we communicate our message?* Why should customers buy from us?

Market research is used to get to know your customers or prospects (potential customers). The two main types of market research are primary research and secondary research. Primary research is completed for the first time by your organization for your specific purposes. Secondary research has already been completed by another organization but can also be of value for you.

Companies must focus on their market, because those are the people who may purchase their good or service. If a company does not focus on their market, they will not have a good idea of what the customer is looking for. Success for a company is dependent on successfully meeting the needs and wants of the customer!

www.marketingteacher.com


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