Various Elements Of The Marketing Process

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1:1 – Explain the various elements of the marketing process.
Marketing is a set of institutions and processes for creating, communicating and delivering. Offering things that have a great value for customers, clients and partners. The business always does a research to see what the customer’s needs-wants are. When the needs of somebody are fulfilled, then they go for their wants. Therefore, markets must be watching every change that happens to occur among the customer. They have to provide a quality product/service in very much profitable way.
The first Marketing element is Marketing strategy. Every customer has different wants and needs. In today’s markets, marketing can’t afford to ignore the market segments, sooner or later the
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Brand positioning is to claim the unique brand for your business. That should motivate your customer to buy your product/service. Benefits should be directly or indirectly related to customers’ needs and wants. However the benefits should be economic. With all these strategic elements summarized in the brand positioning template. The Marketers have a strategic foundation for their Marketing Mix auctions. Marketing Mix is a phrase used to describe the different kinds of choices business has to make before putting their service or a product on the market.
Marketing mix also known as 4P’s was introduced in the 1950’s by Cormac McCarthy. The 4P’s are Product (services). Place. Price and Promotion. Boom and Britners added another 3 P’s to the list, making it the 7P’s these have been developed over the years after the original 4 was introduced. (People, process, physical). Using the marketing mix this can help the business decide whether to take a new offer and bring it out on the market or to make any changes to the service or the product. Besides all these elements there’s also integrated marketing, It’s different marketing methods such as mass marketing, one-to-one marketing or even direct marketing. Therefor the objectives are to reinforce the marketing impact of each method. Very important element to consider is environmental analysis
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