Marketing Strategies Essential Learn How Your Business Can Meet Customer Needs in an Increasingly Competitive Market

By Brian Gibson

Marketing is dynamic and impactful. Marketing is how companies reach potential customers and communicate a product's or service's unique benefits. It encompasses all companies' activities to promote, sell and distribute that product or service. The goal is to generate sales and build a loyal customer base by informing potential and existing buyers about the offering.

Marketers use various tools and tactics to strategize, plan, and launch programs and campaigns. This book will teach you the essential marketing principles, plans, and strategies to help grow your business.

• Language: English
• Publisher: vincenzo nappi
• Release date: Jan 7, 2023
• ISBN: 9798215694213

Book preview

Chapter 1

Introduction

Marketing focuses on identifying and addressing social and human needs. Meeting needs profitably is one of the shortest definitions of marketing. All commercial endeavors aim to fulfill the needs and desires of society. Therefore, marketing is a fundamental task for all corporate entities. Every time a salesperson pitches washing machines, a doctor attends to a patient, or the government urges parents to take their kids for polio shots, they are marketing to their target audiences. Small business owners have historically prioritized other tasks like accounting, production, and selling over marketing.

The promotion of marketing awareness among small business owners is highly prioritized through training programs, enterprise development, and the current push for competitiveness. Marketing is now taking its proper place alongside other business functions. Since the beginning of the 1990s, there has been a shift in business people's thinking from a product orientation to a consumer orientation. Selling satisfaction, rather than just selling products, is emphasized by modern business concerns. The activities must be coordinated to create a marketing mix that gives customers the most satisfaction. Because of this, marketing research and product planning are crucial to marketing. Other essential marketing tasks are purchasing, assembly, selling, standardization, packing, storing, transportation, promotion, pricing, and risk-taking. As a result, marketing is broad and no longer limited to just the sale of goods.

From a managerial and social perspective, the marketing idea can be examined. Therefore, marketing is a social and managerial process through which people and groups fulfill their needs and desires by producing and exchanging goods and value with others. The simplest definition of marketing is an exchange of goods or services between a buyer and a seller. The management function known as marketing is responsible for planning, organizing, and directing all business operations involving analyzing and transforming customer purchasing power into actual demand. The marketing concept is essentially one of customer orientation, with integrated marketing to achieve customer satisfaction. A process whereby goods and services are exchanged, and their values are established in terms of monetary prices is what is meant by marketing when used strictly. Thus, all actions taken to transfer goods from producers or manufacturers to consumers are considered part of marketing.

Chapter 2

Pricing

Pricing is determining what a business will get in return for its goods. Manufacturing costs, the marketplace, competition, the state of the market, and product quality all affect pricing. In the microeconomic price allocation theory, pricing is also a crucial variable. Pricing is one of the four Ps of the marketing mix and a fundamental component of financial modeling. The three additional factors are place, promotion, and product. The other three Ps are cost centers; only price generates