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Published by Sandip Ingale

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Published by: Sandip Ingale on Feb 09, 2012
Copyright:Attribution Non-commercial


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 TheChartered Institute of Marketingdefines marketing as
"themanagement process responsible for identifying, anticipating and satisfying customer requirements profitably."
A differentconcept is the
which states the role of marketing to contribute to increasingshareholder value.
In thiscontext, marketing is defined as
"the management process that seeks to maximize returns to shareholders by developingrelationships with valued customers and creating a competitiveadvantage
is defined by theAMAas "the activity, set of institutions, and processes for creating, communicating,delivering, and exchanging offerings that have value forcustomers, clients, partners, and society at large."
 This replaces the previous definition, which still appears in theAMA's dictionary: "an organizational function and a set of processes for creating, communicating, and delivering value tocustomers and for managing customer relationships in ways thatbenefit the organization and its stakeholders."
It generates thestrategy that underlies sales techniques, businesscommunication, and business developments.
It is an integratedprocess through which companies build strongcustomerrelationshipsand create value for their customers and forthemselves.
Marketing is used to identify thecustomer, satisfy the customer,and keep the customer. With the customer as the focus of itsactivities,marketing managementis one of the majorcomponents of business management. Marketing evolved to meetthe stasis in developing new markets caused bymature markets andovercapacitiesin the last 2-3 centuries.
Theadoption of marketing strategies requires businesses to shift theirfocus fromproductionto the perceived needs and wants of theircustomers as the means of stayingprofitable.
 The term
marketing concept 
holds that achieving organizationalgoals depends on knowing the needs and wants of target markets and delivering the desired satisfactions.
It proposes that in orderto satisfy its organizational objectives, an organization should
anticipate the needs and wants of consumers and satisfy thesemore effectively than competitors.
 The term developed from an original meaning which referredliterally to going to a market to buy or sell goods or services. Seenfrom a systems point of view,sales process engineering marketing is
"a set of processes that are interconnected and interdependent with other functions,
whose methods can beimproved using a variety of relatively new approaches
 The objectives of this lesson about
marketing mix
is to give you:
-The tools you need for establishing your detailedmarketing plan and forecasting your sales.1.Challenge 2.Product 3.Place 4.Price 5.Promotion 6.Sales strategy 1-CHALLENGE You have gotten a rough idea about the market situationand the possible positioning of your product.
Of course, it'sfar to be sufficient. Now, you must write your detailed planning. Itmeans that brainstorming is ended and that you have to go to thespecifics in examining and checking all the hypothesis you hadmade in the preceding chapters. You will use the
marketing mix.-Definition: Marketing mix is the combination of elementsthat you will use to market your product. There are fourelements: Product, Place, Price and Promotion. They arecalled the four Ps of the marketing mix.
Some people think that the four Ps are old fashionable andpropose a new paradigm:
The four Cs!
Product becomescustomer needs; Place becomes convenience, price is replaced bycost to the user, promotion becomes communication. It looks likea joke but the Cs is more customer-oriented.
2-PRODUCTA good product makes its marketing by itself because itgives benefits to the customer.
We can expect that you haveright now a clear idea about the benefits your product can offer.Suppose now that the competitors products offer the samebenefits, same quality, same price. You have then to
your product with design, features, packaging,services, warranties, return and so on. In general, differentiationis mainly related to:

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