Marketing

Marketing

Marketing was the task of figuring out how to sell the product. Basically, selling would be accomplished by sales promotion, which included advertising and personal selling. In addition to sales promotion, marketing also involved the physical distribution of the product to the places where it was actually sold. Marketing now involves first deciding what costumers wants, and designing and producing a product that satisfies these wants at a profit to the company.

Buying, selling, market research, transportation, storage, advertising - these are all parts of the complex area of business known as marketing. The four elements of marketing-product, price, placement, and promotion-work together to develop a succesful marketing operation that satisfies costumers and achieves the company objectives.

The elements of the marketing mix focus on the consumer. In order to develop a succesful marketing mix, researchers first ask two important question: Who is going to buy the product? What is the potential to sell this product?

A succesful marketing mix depends on the knowledge about consumers and their buying habits gained through market research as well as correct identification of the target market. Strategies of product, price, placement, and promotion are blended in order to reach a chosen group of consumers.