Four Critical Aspects Of Marketing Your Products And Business

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When you ask the question “what is marketing?” I bet you’ll get about 100 different responses. Most people say marketing is advertising on TV, on the radio, or in magazines, some will say creating a brand for a company, including its logo and a catchy slogan. All of these responses are valid answers. Anyone who does one of these jobs could legitimately say they work in marketing. But these answers still don 't give us a good definition of marketing. According to American Marketing Association, marketing is an organizational function and a set of processes for creating, capturing, communicating and delivering value to customers. These functions and the managing of customer relationship are the things that make up marketing. To fully understand …show more content…
Marketing your business is about how you position it to satisfy your market’s needs. There are four critical elements in marketing your products and business. They are the four P’s of marketing: product, price, place and promotion. This model have been used by marketers around the world for decades, the following describes the four P 's of marketing: Product are the goods, services, and ideas that your business provides for sale to your target market. When developing a product you should consider quality, design, features, packaging, customer service and any subsequent after-sales service. Price concerns the amount of money that customers must pay in order to purchase your products. There are a number of considerations in relation to price including price setting, discounting, credit and cash purchases as well as credit collection. Place is in regards to distribution, location and methods of getting the product to the customer. This includes the location of your business, shop front, distributors, logistics and the potential use of the internet to sell products directly to consumers. Promotion refers to the act of communicating the benefits and value of your product to consumers. It then involves persuading general consumers to become customers of your business using methods such as advertising, direct marketing, personal selling and sales …show more content…
Marketing can be performed by both individuals and organizations. Most businesses sell to other businesses or to consumers, sometimes consumers sell to each other and the acronyms B2B (business-to-business), B2C (business-to-consumer) and C2C (consumer-to-consumer) represent these relationships in abbreviated form. B2B as the name suggests is a business model which facilitates business transactions from one company to the other. An example is when an engineering equipment manufacturing company which provides equipment to the Construction Company. B2C is that we often see vendors sell goods directly to the user, for example you go to McDonald’s to eat is B2C, because you just a customer. C2C Something like eBay where consumer sells a product to another consumer through a platform or even by

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