Marketing Fundamentals: Concepts, Mix, and Strategy
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Marketing Fundamentals (Tema 1)
The Marketing Concept Defined
Marketing is the process of planning, designing, pricing, promotion, and distributing ideas, goods, and services in order to satisfy customer needs and achieve profitability.
The Marketing Process
The marketing process typically covers two main stages:
- Market Research: Analyzing customers, competitors, and market factors.
- Market Planning: Defining the product, price, place, and promotion (the Marketing Mix).
The Marketing Mix (The 4 Ps)
The Marketing Mix principles are controllable variables that must be carefully managed to meet the needs of the defined target group. All elements of the mix are linked and must support each other:
- Product: The features and appearance of goods and services.