Marketing Management with xclusiveoffer
Marketing Management with xclusiveoffer Definition of market and marketing - Xclusiveoffer - Market refers to the group of consumers or organization that is interested in the product, has the resources to purchase the product and is permitted by law and other regulations to acquire the product. Marketing: According to Chartered Institute of Marketing “ The management process responsible for identifying, anticipating and satisfying customer requirements profitable. Social definition “ Marketing role is to deliver a higher standard of living”. Marketing Management “ Marketing management sis a business discipline which is focused on the practical application of marketing techniques and the management of a firm’s marketing resources and activities. xclusiveoffer - Importance of marketing Marketing managers must take major decisions such as 1. What features to design into a new product 2. What prices to offer customers 3. Where to sell products 4. How much to spend on advertising or sales Scope of Marketing with xclusiveoffer To be a marketer, you need to understand What marketing is How it works What is marketed Who does the marketing How it works Four ways to obtain product Exchange and Transactions What is Marketed - Goods Services Events Experiences Persons Places Properties Organizations Information Ideas Who markets - Marketers and Prospects: A marketer is someone who seeks a response ( attention, a purchase, a vote, a donation) from another party, called the prospect. If two parties are seeking to sell something to each other, we call them both marketers. Marketers are responsible for demand management. Marketing managers seek to influence the level, timing, and composition of demand to meet the organization's objectives. Eight demand states are possible 1. Negative demand: dislike the product 2. Nonexistent demand: unaware and uninterested 3. Latent demand: strong need that cannot be satisfied by an existing product. 4. Declining demand: consumer begin to buy the product less frequently or not at all 5. 5. Irregular demand: Vary on a seasonal, monthly, weekly, daily, or even hourly basis. 6. 6. Full demand: adequately buying all products put into the marketplace. 7. 7.Overfull demand: More consumers would like to buy the product 8. 8.Unwholesome demand: Products that have undesirable social consequences. 9. Traditionally “ market is a physical place where buyers and sellers gathered to buy and sell goods. 10. Economists describe a market as a collection of buyers and seller who transact over a particular product or product class.
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