Eleventh Post

¿What is Marketing?

Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses.

Professionals who work in a corporation's marketing and promotion departments seek to get the attention of key potential audiences through advertising. Promotions are targeted to certain audiences and may involve celebrity endorsements, catchy phrases or slogans, memorable packaging or graphic designs and overall media exposure.

Model of marketing process:

1. Understand de market needs and wishes: It is important to understand customer needs, wants, and demands to build want satisfying market offerings and building value laden customer relationships. This increases long term customer equity for the firm.
2. Develop the market strategy: Focus areas for designing a marketing strategy: Selecting customers to serve defining the target market and deciding how to serve customers in the best way choosing a value proposition.
3. Elaborate a value proposition: Should describe; how your product or service solves or improves problems, what benefits customers can expect, and why customers should buy from you over your competitors.
4. Create profitable and lasting relationships: Customer relationship management is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.
5. Create profits due to the quality perceived for the customer: The more loyal to the company’s profitable customers, the higher are the customer equity. Customer equity may even be a better way to measure its performance than market share or current sales.

Need

State of lack the human being.

Wish

Adaptation of the human needs you to the culture and personality of each client.

Demand

It is when the wish also has the possibility of buying any specific products.

Marketing Myopia

Marketing Myopia is a situation when a company has a narrow minded marketing approach and it focuses mainly on only one aspect out of many possible marketing attributes.