Business Studies Marketing Strategies

... 1. WHAT IS MARKETING? Marketing includes identifying unmet needs; producing products and services to meet those needs: and pricing, distribution, and promoting those products and services to produce a profit. The process of identifying and researching specific segments of a population for the purposes of selling them a product or a service. The importance of marketing to a business cannot be over - emphasised. Marketing is the engine that drives any business. There is no point having goods for sale if they are not wanted by the customers or if the customers do not know that what you are trying to sell even exists. Marketing means finding out what the customers want, what the customers require. Providing it and making sure, usually by advertising, that the customers know it is there. Marketing activities include: * Carrying out market research to find out the needs and requirements of the customers, * Developing products to meet these

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