Marketing
From Wikinfo
Marketing is the craft of linking the producers (or potential producers) of a product or service with customers, both existing and potential. It is an inevitable and necessary consequence of capitalism. However marketing is not limited to capitalist countries. Marketing techniques are applied in all political systems, and in many aspects of life. Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Marketing research underpins these activities. Through advertising, it is also related to many of the creative arts.
What marketing involves
Contrary to the popular conception, marketing is not just about promotion -- it can be divided into four sections, often called the "four Ps". They are:
- Product - The Product management aspect of marketing deals with the specifications of the actual good or service, and how it relates to the end-user's needs and wants.
- Pricing - This refers to the process of setting a price for a product, including discounts.
- Promotion - This includes advertising, publicity, word of mouth, and personal selling, and refers to the various methods of promoting the product, brand, or company.
- Place or distribution refers to how the product gets to the customer; for example, point of sale placement or retailing.
These four elements are often referred to as the marketing mix. A marketer will use these variables to craft a marketing plan. For a marketing plan to be successful, the mix of the four "p's" must reflect the wants and desires of the consumers in the target market. Trying to convince a market segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend on marketing research to determine what consumers want and what they are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the practical application of this process.
Finding marketing articles
- marketing fundamentals
- product management
- pricing
- price
- price points
- pricing objectives
- discounts and allowances
- penetration pricing
- variable pricing and real-time pricing
- pricing for profit maximization
- price discrimination
- price elasticity of demand
- geographical pricing and price zoning
- cost-plus pricing
- rate of return pricing
- competitor indexing
- joint product pricing
- transfer pricing
- barter
- loss leaders
- marketing management
- promotion
- e-marketing
- personalized marketing
- permission marketing
- E-commerce
- Business to Business Electronic Commerce (B2B)
- Business to Consumer Electronic Commerce (B2C)
- Online auction business model (C2C)
- Search Engine Optimization
- bricks and clicks business model
- disintermediation
- The dot com boom
- customer relationship management(CRM)systems
- web banner
- spamming
- multimedia
- marketing strategies
- consumer behaviour
- evolution of marketing
- marketing research
- qualitative marketing research
- quantitative marketing research
- experimental techniques
- observational techniques
- industry or market research
- data analysis techniques used in marketing research
- services marketing
- criticisms of marketing
Finding related topics
- list of management topics
- list of marketing topics
- list of human resource management topics
- list of economics topics
- list of finance topics
- list of accounting topics
- list of information technology management topics
- list of production topics
- list of business law topics
- list of business ethics, political economy, and philosophy of business topics
- list of business theorists
- list of economists
- list of corporate leaders
- list of companies
Adapted from the Wikipedia article, "Marketing" [1], used under the GNU Free Documentation License
