The 5 Major Aspects Of Marketing Process

1. Was a humanist who stated that human motivation is based on people seeking fulfilment and change through personal growth.

Maslow identified that employees have the motivation to achieve certain needs. Once these needs have been achieved the employee will seek to fulfil the next set of needs.

Marketing comprises of all the activities and tasks undertaken to promote and sell the product to the end consumer. It encompasses a wide array of techniques that can be used to push the product/service to the consumer and get them to pay for the same. Marketing can also be done for non-selling objectives like brand awareness, recognition, brand image enhancement etc. In essence, marketing concept creates a value for the customer and communicates it effectively to drive the consumer to make a purchase. It is also almost detrimental in customer retention.

The process of marketing involves the action of advertising and promoting a company, product or service. This includes everything the customer encounters in relation to the company, from advertisements to customer service experiences. Marketing is often broken down into four sections, known as ‘the four P’s of marketing’.

The essence of marketing is value creation, where the goal is a long-term satisfaction by building relationships and attracting new customers by offering better value than the competition. Because marketing is based on exchanges where the objective is for all parties in the exchange to feel satisfied and gain some kind of value (Jobber and Ellis-Chadwick, 2013).

This parallels with Maslow’s Hierarchy of Needs Motivational Model. The true motivators represent a far deeper level of meaning

Recognition of consumer behavior towards the decision of marketing strategy is necessary for developing effective marketing plan

Marketing is defined as the process by which companies supply a valued product or service to consumers and in return capture value from said consumers. The first goal of marketing is to attract new customers by providing a desired product or service. The second goal is to keep the current customer base loyal while continuously striving to increase that base.

Ensure the want satisfaction effectively than competitors and improve the welfare of consumers and society.

The concept of marketing is to deliver products to consumers with the ability of making an impact that meets the needs of profitability. Keller (2012) states marketing is about identifying the human and social needs through furnishing consumers." The aim of marketing is

Motivation is the desire or willingness to fulfil a goal. Within the working environment, it is essential that the company’s employees to possess / retain motivation in order to maintain optimal output. According to Maslow’s theory regarding the hierarchy of needs, it states “that human motives can be arranged in a hierarchy of priorities”. These priorities consist of Physiological, Safety, Belongingness, Esteem, Self –actualisation. This theory outlines that humans are ‘want’ beings, and once a need is fulfilled, the next need appears and demands to be satisfied. This process continues until the needs of self-actualisation, cannot be fully fulfilled, resulting in a halt of the generation of needs. In simple terms, Webfinance (2014) states “once a need is satisfied, it stops being a motivator of human beings”.

The four Ps approach to marketing has been widely regarded as the traditional approach to marketing. While the value approach concentrates on delivering value to the consumers or customers, the 4Ps approach is evidently concentrated not on customers, but on the product itself. The major elements of the four Ps approach of marketing are product, price, place, and promotion; by that, the four Ps elevate product in the marketing plan while the value approach components are creating, communicating, delivering, and exchanging offerings.

“Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” – CIM Definition.

The purpose of marketing is to attract people’s attention and to create awareness. You have to make sure people are interested in your brand and are focused to keep your image running. You are able to try a different type of marketing to make sure your product is with this day and age of new tastes and needs.

Peter Drucker: The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.