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Basic Concepts of Marketing and Marketing

MARKETING

The marketing It is a word that has many definitions and yet they all bear a resemblance to each other; We can say that marketing “is that human activity aimed at satisfying needs, deficiencies and desires through exchange processes.”

According to American Marketing Association (AMA) Marketing is “the process of planning, executing and conceptualizing prices, premeditation and distribution of ideas, merchandise and techniques to create exchanges that satisfy individual and organizational objectives.”

There are some premises on which the concept of marketing rests, and these are:

  • The organization conceives that its mission is to satisfy a set of wants and needs of a determined group of clients; Furthermore, it recognizes that satisfying those desires requires a good market research program to find out what those desires are.
  • The organization recognizes that all company activities that tend to affect customers must be brought under integrated marketing control.
  • The organization believes that doing a good job to satisfy its customers will earn them their loyalty, preference, and good opinion.

It can be said that the main objective of marketing is to seek the satisfaction of consumers’ needs through a group of coordinated activities that at the same time will allow the organization to achieve its goals.

Customer satisfaction is the most important thing in marketing, to achieve this the company must investigate what the customer’s needs are in order to create products that really satisfy the wishes of consumers.

That is why marketing has the task of regulating the demand for products so that in this way the company can achieve its objectives. The logical market plan that must be carried out depends on the demand:

MARKETING IMPORTANCE

Marketing activities contribute directly to the sale of a company’s products, in addition to creating opportunities for innovation in them.

ADMINISTRATION OF THE MARKETING

The administration of any company requires a series of steps that must be developed properly and in a timely manner.

We can say that administration is “the process of designing and maintaining an environment in which, working as a team, individuals efficiently meet specific objectives.”

The administration of a company and its products, should not be considered only the aspect of the articles and services it provides, but as the direction of an organization that is a provider of valuable satisfactions and capable of creating new customers.

Thus, in short, marketing management is “the process of planning, organizing, directing and controlling the efforts to achieve the desired exchanges with the markets that are targeted by the organization.”

I will try to explain shortly the following approaches from which marketing activities can be viewed:

Marketing management is studied through the following stages:

  • Marketing planning
  • Organization
  • Direction
  • Integration
  • Control

MARKETING PLANNING

In brief, marketing planning It is a systematic process that includes the study of the possibilities and resources of a company, as well as the setting of objectives and strategies and the development of a plan to put it into practice, in addition to keeping track of it.

THE FOUR P’S OF MARKETING

The Marketing Mix is ​​a set of Marketing variables through which a strategy is carried out to produce a positive response from consumers. The Marketing Mix consists of four elements that are the four P’s: 1) Product, 2) Price, 3) Place and 4) Promotion. Some teachers of the subject add the concept of Quality as an additional element.

Here is a brief description of each of them:

Product:

It is everything that is capable of being bought, changed, transferred, etc. It includes how it is designed, classified, positioned, packaged and recognized through a brand.

Price:

It is what you pay for any product or service you consume. This profoundly influences consumer perceptions of the brand. Indicate what and how much the customer pays for a product. Companies apply various strategies when fixing it. Some products compete with price.

Square (Distribution):

The place where your product is available. Marketing professionals should know that the method of distribution, like the price, must be compatible with the image of the brand. Distribution designates the way in which the product is made available to the consumer: where it is distributed, how it is bought and how it is sold.