importance of marketing: marketing (hseb 10+2) (lecture 1.5)
TRANSCRIPT
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Review Lecture 1.4 Assignment 8:
Research on the development of media in Nepal. (Worksheet Attached)
Lecture Review – Evolution of Marketing:
Self Sufficient Existence Era
Barter and Exchange Oriented Era
Trade Era Development of Money
Production Orientation Era
Sales Orientation Era
Marketing Company/Orientation Era
Relationship Marketing Orientation
Social/Mobile Marketing Era
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Importance of Marketing Consumers
Firms
Society
REMEMBER: Marketing is NOT just PROMOTION
Marketing is the process of researching into and identifying consumer needs and applying appropriate product, price, place and promotion strategies to satisfy those needs profitably.
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Consumers Satisfaction of needs, wants and desires Solution
Options to choose from
Standard of living
Correct Information
Creation of utilities
Form Utility the form THEY want
Place Utility the place THEY want
Possession Utility it will be THEIR Possession Solution
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Firms Market research and business planning implications
Expansion, Product Development, Market Development, Diversification Ansoff’s Matrix
Identify market gaps and take advantage
Branding the product
Increased sales increased profits
Withstand competition towards being the market leader
Communication Delivering correct information
Social Projects
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Society Provide Employment Marketing Industry
Standard of Living Availability of Goods and Services
Increase national consumption Increase in GDP
Inform society about different issues