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What is marketing? What are the 7 P's?
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- Words:
- 1882
- Submitted:
- Tue Jun 30 2009
- Mark submitted by Author:
... What is marketing? Marketing is a term for promoting products using methods such as advertisement and branding. Companies use this to sell their product and make them recognisable by having their own brand. It is about finding consumers needs and consumer demands by fulfilling their satisfaction. This is done by researching what people are most interested and the price they are willing to pay. There are 4 principles of marketing; * Understanding consumer needs * Keeping ahead of competition * Communicating effectively with consumers * Utilising new technology The first is understanding consumer needs. Markets are constantly changing so it is essential for companies to understand what consumers want. Companies have to look for new products and opportunities that are different from others. An example of this is Apples iPod. The iPod is a portable mp3 player that was extremely successful since it first launched. It was not the first mp3 or the fist to have its
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