What is Marketing?

Marketing is getting the right goods and services to the right people with the right places at the right time at the right price with the right communications and promotion.

Marketing is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return.

Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives.

What is Marketed?
1 Goods
2 Services
3 Events
4 Experiences
5 Persons
6 Places
7 Properties
8 Organizations
9 Information
10 Ideas

Key Customer Markets
- Consumer markets
- Business markets
- Global markets
- Nonprofit/Government markets

Marketing orientations
- Marketing Concept
- Product Concept
- Production Concept
- Selling Concept
- Societal Concept

Marketing Mix (4Ps)
- Product
Brand, service, product line variety, warranty, style, design, colour, packaging, sizes
- Price
List price, discounts, allowances, payment period, credit terms
- Place (distribution)
Transportation, storage, handling, inventory, retailers, wholesalers
- Promotion
Persuasion, advertising, personal selling, displays, publicity, merchandising, sales promotion, direct marketing

Marketing Strategy
- Market segmentation
- Product planning
- Promotion
- Physical distribution
- pricing

Segmentation, Targeting, Positioning
A marketer would firstly segment the market, then target a single segment or series of segments, and finally position within the segment(s).

- Segmentation
The identification of subsets of buyers (separation of the buyers) within a market who share similar needs and who demonstrate similar buyer behavior.
- Targeting
After the market has been separated into its segments, the marketer will select a segment or series of segments and 'target' it/them.
- Positioning
A company has to develop a positioning strategy for each segment it chooses to serve. This relates to the task of distinguishing a particular company’s products occupy a planned for place in chosen target markets, pertinent to opposing competition in the marketplace.