Marketing
What is marketing? Explain the importance of understanding customer and buyer behaviour in marketing. How can market research assist the marketing process?Today marketing is often mistaken as involving only selling, advertisement and promotion of a product. In reality we come to realise that selling, advertising and promotion are but a small part of marketing. While not disregard the importance of the aforementioned activities it must be realised that they are a part, an integral part, of a larger ‘marketing mix’ often outlined though the four P’s of marketing; Product, Price, Place and Promotion. Product involves a detailed assessment of the product quality, design, name, warranty, packaging, labelling, and exclusive features. Price is a process of determining the correct price for a product, price set too high may result in the loss of sales where as a price set too low can damage the products image placing it into a ‘cheap’ product category. Promotion is the most obvious activity in the marketing process involving the selling, advertisement, promotions and public relations enticing the client to buy.
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Some common words found in the essay are:
Promotion Product, , buyer behaviour, decision process, market research, marketing mix, involving selling advertisement, marketing mix strategies, buyer behaviour marketing, customer buyer behaviour, customer buyer, price set, product price, mix strategies, marketing process, selling advertisement,
Approximate Word count = 754
Approximate Pages = 3 (250 words per page double spaced)
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