MARKETING

1
MARKETING

• Kinds of markets
• What is marketing?
• Market analysis
• Market research
• The product life cycle
• The marketing mix
• The 4Ps

2
Kinds of markets

• General
• A market is a meeting place between who sells and
  who buys.
• Sellers and buyers try to understand each others
  needs and psychology in an attempt to reach a
  profitable exchange.
• Most modern markets specialise.
• Nowadays it can be rare for sellers and buyers to
  meet physically.

3
Kinds of markets
Commodity markets
Industrial markets
Financial markets
Consumer markets
4
What is marketing?

• Its a PLANNING PROCESS that identifies the needs
  and wants of potential customers
• then it creates a product or service to meet
  these requirements.
• (So its not just a simple matter of selling and
  advertising a product!!!)
• The main aim of marketing is to convince a
  potential customer to buy new products.

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The marketing concept
THE CUSTOMER
Market analysis
PROMOTION
Market research
PLACE
Planning and development
PRICE
PRODUCT