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Marketing: signs and their meaning
Pages 7 (1757 words)
The definition of the term marketing has evolved over time and different authors have come up with different definitions.Marketing in the earlier days simply meant the sale of goods at the market place.
A keen look at the activities mentioned therein will reveal a chronological process and not the mere selling of goods it was deemed to be in the past. Marketers first of all research on what it is that the customers want. This can be through conducting surveys via issuing questionnaires to potential customers. After that, they plan on how their products will be tailor-made to fit the customer’s wants. This is followed by pricing the goods. When pricing, a number of factors ought to be taken into consideration such as; cost of production, competitor’s pricing, target market among other factors. The price has to be just right so as not to dissuade potential customers from purchasing the product. The next step involves advertising. This is basically creating awareness on the product- letting people know that the product exists and reminding those who knew about it already that it is still in the market. When advertising, it is important to come up with an advertisement that properly communicates about the brand and appeals to the target market. Lastly, selling- which is where the customer is finally convinced to purchase the product. An important point to note even from the definition given above is that marketing is customer-based. There is a fallacy that marketing is about advertising and promoting ones business. Such thinking is wrong. ...
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