MARKETING ASSIGNMENT

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WHAT IS MARKETING ?The process of Marketing consists of developing, distributing and promoting products to satisfy customer’s wants.

WHAT IS THE PURPOSE OF MARKETING ?Marketing is about planning and executing the conceptions, price, distribution and promotion of goods, ideas and services to satisfy individual and organizational goals.

PURPOSE OF MARKETINGThe goal of marketing is to grasp and understand the customer, so that the service or product fits him and sells itself.The various purposes of marketing are :❏ Spread Awareness about Brand❏ Engage with Target Audience❏ Prove Industry Expertise❏ Drive traffic and sales

SPREAD AWARENESS ABOUT BRAND❏ In order to get success in the market, you must

know who you are as a company.❏ In the digital world, where everything is related to

the internet, the brand of your company will be shaped by the interaction between your clients and our company.

❏ Always think from the customer’s point of view, what makes them to buy a product and what makes them return the product.

ENGAGE WITH TARGET AUDIENCE❏ You can stay connected with the brands through

news feed and alerts with the help of networking.❏ Participate in all of the social media networks, and

engage with your target audience.❏ Monitor and respond to all the comments on your

blog or article.❏ Always comment on other top industries posts, it

will help in building relationships and stay visible

WHAT IS MARKETING PLAN ?Marketing plan is the written document. It explains the current position of the market. The period of market plan is usually between one to five years.

WHAT IS MARKETING MIX ?Marketing Mix is a tool used by marketers and it is a set of tactics or action to promote a company’s brand or product in the market.

WHAT ARE THE 4 P’s OF MARKETING MIX ?The 4 P’s of marketing mix are :❏ Price❏ Product❏ Place❏ Promotion

4 P’s OF MARKETING MIX - PriceDecide the price by considering the following points:❏ Seasonal pricing❏ Suggested retail price❏ Price discrimination❏ Cash and early payment discounts

4 P’s OF MARKETING MIX - PRODUCTThere are several points related to a product which must be considered for a better marketing of a product.❏ Brand name❏ Quality❏ Warranty❏ Packaging❏ Styling

It is the distribution about getting the product to the customer.❏ Market coverage❏ Warehousing❏ Transportation❏ Distribution channels

4 P’s OF MARKETING MIX - PLACE

Promotion is related to the various aspects of marketing communication.❏ Advertising❏ Public relations❏ Promotional strategy

4 P’s OF MARKETING MIX - PROMOTION

IMPORTANCE OF MARKETING❏ Marketing is helpful in exchange and

transfer of goods.❏ It helps in raising the living standard of a

country or community.❏ Provide employment❏ Helpful in the development of a

company

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