Wednesday 25 January 2012

Marketing and Process of Marketing

Understanding needs of a customer, satisfying them and maintaining customer relationships are the prime reasons for business development. The process of marketing helps in achieving these prime factors.
Figure Shows The  process of marketing
Initially the customer needs and preferences can be found through the market analysis, based on that analysis different marketing strategies to be followed by an organization will be developed. 

Creating an appropriate marketing mix is the important process to be concentrated in marketing.  Right product for right customer at right place is the main motive for creating marketing mix. 4p's of Marketing mix are "Product, Price, Promotion and place".

Targeting a group of customers and promoting the product through various mediums to reach that targeted customers is also important task in marketing. According to market and business analysts,  growth of a company in present, past and future depends on the marketing strategies used by an organization.

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