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INTRODUCTION TO LAW AND GOVERNANCE

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COMMUNICATION SKILLS

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FUNDAMENTAL OF MARKETING

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Marketing, as a whole, is a set of activities that help an organisation create value for its customers while building profitable relationships with them. To achieve this, businesses create a marketing strategy.

Marketing is a five-step process that enables a business to generate customer value and is as follows:

  1. Understanding the marketplace and the customer’s wants and needs,

  2. Designing a marketing strategy that is customer-driven,

  3. Developing a marketing program that will deliver superior customer value,

  4. Building profitable relationships with customers, and

  5. Creating profits and customer equity by capturing value from customers.

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Description

Marketing encompasses the strategies and tactics brands use to promote their products and services to consumers. Everything from market research to writing ad copy falls within the realm of marketing.

At first glance, marketing even a single product or service can seem like an enormous challenge. You understand the value of your offering – but how do you show it to consumers? And how can you ensure they actually pay attention to your message? Creating a successful marketing strategy is all about getting to know your audience, analyzing consumer behavior and acting on it appropriately.

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