marketing

What is Marketing?

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of goods, services, and ideas to satisfy customer needs. The main goal is to satisfy both customer and organizational needs through exchange.

Marketing 1 to 5

- 1.0: Product-oriented - 2.0: Consumer-oriented - 3.0: Values and human-centric - 4.0: Online & offline mix - 5.0: Technology and AI-driven

5P and Extended 7P Models

5P model: Product, Price, Place, Promotion, People. 7P model adds: - Process: how the service is delivered - Physical evidence: tangible environment (design, packaging)

Consumer vs Client

Consumer: the person who uses the product. Client: someone with an ongoing relationship or who buys services (e.g. lawyer's client). All clients are consumers, but not all consumers are clients.

Decision-Making Process

Five stages: 1. Problem recognition 2. Information search 3. Evaluation of alternatives 4. Purchase decision 5. Post-purchase evaluation. Influenced by personal needs, experience, marketing.

Segmentation and Its Criteria

Segmentation = dividing the market into groups with similar needs or behavior. Main criteria: Demographic, Geographic, Psychographic, Behavioral.

Psychographics - Values, Personality, etc.

Psychographics = psychological traits: lifestyle, values, opinions. Tools: AIO (Activities, Interests, Opinions). Used to understand and predict consumer behavior.

Product Lifecycle and Definitions

Product has 4 levels: 1. Core - basic benefit 2. Actual - physical product 3. Augmented - extras 4. Potential - future improvements. Product lifecycle: Introduction, Growth, Maturity, Decline.

Branding

Brand = a name, symbol, or design that identifies a product. Also: - Identifier - Promise - Asset - Perception. Branding strategies: Branded house, House of brands, Private label, No-brand, Personal, Place branding.

Distribution Models

Distribution = getting the product to the final consumer. Channels: Direct and Indirect. Types: - Mass (many outlets) - Selective (limited) - Exclusive (one per region).

Marketing Mix

4Ps: Product, Price, Place, Promotion. 7Ps (for services): + People, Process, Physical Evidence.

Pricing Strategies

Marketing Exam Check - Full Notes Main strategies: - Cost-based - Competition-based - Value-based. Tactics: Skimming, Penetration, Premium, Psychological, Bundle, Geographic, Captive.

Marketing Communication Models

Elements: Sender -> Message -> Channel -> Receiver + Feedback, Noise, Context. Functions: Inform, Persuade, Compete. Models: Interpersonal, Mass, Hypermedia.

Digital Marketing Tools

Key areas: - Website (UX, mobile-first) - SEO (keywords, links) - SEM (paid search) - Content (blogs, videos) - Email (MailChimp) - Analytics (Google Analytics) - Tools: Canva, CapCut, Prezi.

Global Marketing

Marketing across countries. Challenges: culture, law, pricing. Strategies: - Standardization (same approach everywhere) - Adaptation (customized for each market).