Definition of marketing strategy by philip kotler 3.0,online marketing strategies for hotels,hip hop music video software,window movie maker for window 10 - PDF Review

In our search for the definition of social business and to understand the road towards a social business strategy, let’s look at prof.
Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.  Marketing identifies unfulfilled needs and desires.
Amazingly, in the next video Kotler seems to almost apologize himself to the audience for the negative effects of marketing in general. The basic major marketing management decisions can be classified in one of the following four categories, namely Product, Price, Place (distribution) and Promotion.
Product: It is the tangible object or an intangible service that is getting marketed through the program. Promotion: This represents all of the communications that a marketer may use in the marketplace to increase awareness about the product and its benefits to the target segment. So how does a marketer strategize to attain success in a marketing program, using these 4 P’s?
Offering specificity introduces the contextual customization of what needs to be done to address the questions raised in each of these 4 Ps of Marketing.
It defines, measures and quantifies the size of the identified market and the profit potential.

This is one of the preliminary knowledge every marketer must have and is considered to be the basics of every marketing theory, which emerged henceforth.
Tangible products may be items like consumer goods (Toothpaste, Soaps, Shampoos) or consumer durables (Watches, IPods). If the price outweigh the perceived benefits for an individual, the perceived value of the offering will be low and it will be unlikely to be adopted, but if the benefits are perceived as greater than their costs, chances of trial and adoption of the product is much greater. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion. Our authors are educators from top QS ranked universities and practitioners from multinational enterprises.
It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.
Intangible products are service based like the tourism industry and information technology based services or codes-based products like cellphone load and credits.
This may include any physical store (supermarket, departmental stores) as well as virtual stores (e-markets and e-malls) on the Internet.
Advertising may include using specialty packaging to showcase products, utilizing promotional products for your company, or online ads.

In there very essence, the 4 Ps of marketing is actually a framework that allows the marketer to structure the value proposition of an existing product (or a new product at the time of launch) so as to garner the highest mindshare by distinctly structuring the same. This is crucial as this provides the place utility to the consumer, which often becomes a deciding factor for the purchase of many products across multiple product categories. A certain amount of crossover occurs when promotion uses the four principal elements together (e.g in film promotion). However, that is easier said that done and many marketers fumble when it comes to playing with the real life nuances and bringing out a crisp value proposition. Every product is subject to a life-cycle including a growth phase followed by an eventual period of decline as the product approaches market saturation.
To retain its competitiveness in the market, continuous product extensions though innovation and thus differentiation is required and is one of the strategies to differentiate a product from its competitors.

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