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What Is the Definition of Marketing

By Guest Author On July 23, 2011 Under Improve Your Life, Self Help Tips, Setting Goals, Success Secrets

If you asked people for the definition of marketing, you’d get several incompetent answers. At the very least, someone will be right or be on the right track, but it could still be incomplete. Many will answer that marketing that you will probably get are that marketing is about advertising or promotion. Marketing is all you do to make your product or service appeal to the customer, and that include advertising and promotion.

The Marketing Definition from a textbook, it’s even more involved and detailed. Marketing is classified into what is known as the four P’s. These ideas are according by Harvard business professor in the 1960s. Product, price, promotion and place. Product simply means the product you choose to offer all that implies by its warranty, guarantee, and etcetera. Price is the act of choosing a right value for your product. This can include of items other than money, time and energy.

Location, the spreading of product how it goes in customers’ hands.  Point-of-sale, retail, online, which area the product is sold in, the demographic and exact selling environment all make up this part of Learn Marketing Definition. Finally, the last P, marketing includes advertising, advertising, branding philosophies and rounds out what marketing is and what  a good marketing strategy must take into consideration.

This 4 P model works best when applied to consumer goods with low to moderate costs Expensive items need to be adjusted to the definition of marketing to make them successful. 

The person is the most critical factor in marketing.   Each person a customer comes into contact is even more important than usual when service marketing. Process refers to the process of giving the service. Physical evidence is part of the definition of marketing that nobody would consider buying a service without. This makes all the statements and case studies that show how people liked or were helped by the product

Web marketing has its own set of the 4 Ps. Personalization is an important part of marketing online because it allows customers to create their own products. Predictive modeling is a term that connotes to the mathematical formula for sales models that most of us never need know about it. In addition, peer-to-peer is an important and comparatively new concept.

 

 

 

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