What Is Marketing
Definition of Marketing
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (Approved 2017)
Definition of Marketing Research
Marketing research is the function that links the consumer, customer, and public to the marketer through information—information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications
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Types of Marketing
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For those who think that marketing is the same thing as advertising, nothing could be further from the truth. Advertising can certainly be one small part of a marketing plan but it’s only one piece of the puzzle. Indeed, it’s possible to work from a marketing strategy that doesn’t utilize advertising at all
Marketing can roughly be split into offline and online or digital methods. Offline marketing consists of “traditional” advertising in print, radio, and television marketing, as well as attending events like trade shows, fairs and conferences. It can also include word-of-mouth marketing
Most businesses will use a combination of online and offline marketing methods. However, these days the balance is shifting more towards online marketing. This is because consumers are increasingly spending more time online and digital marketing offers various advantages in terms of speed, efficiency, and ROI
8steps to marketing your business
Conduct market research
Profile your target markets
Identify your unique selling proposition
Develop your business brand
Choose your marketing avenues
Set your goals and budget
Nurture your loyal customers
Monitor and review
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