Marketing, what is it

Marketing refers to any activities undertaken by a company to promote the buying or selling of a
service. If there is a limited quantity of a product, a company may market itself in an attempt to be
better positioned as one of the few who get to buy something.
Creating a successful marketing strategy is all about knowing your audience, analyzing consumer
behavior and acting on it appropriately.
Marketing isn't necessarily advertising

The four P's of marketing

Product, place, price and promotion collectively make up the essential mix a company needs to
market a product or service.
• The product is whatever service a business is offering to its customers. It should strive to
fulfill a need in the market.
• Price is obviously how much the product will be sold for. When establishing it a company
must consider the production cost, the marketing cost and the distribution expenses.
• Place refers to the medium through which the product will be distributed.
• Promotion is the marketing campaign for the product, it includes a multitude of activities
such as advertising, sales promotions, product placement and so on. Promotions vary
depending on the stage of the product life cycle.

concepts to understand

advertising is an accelerator not an initiator, so if you take a good product that is proven to be well
received and advertise it, you will be able to reach more people and make more money, but if the
product is bad, then advertising it will not make you much money..
so start small and scale it up when it is proven profitable.