Marketing

Marketing management is the process of gathering information to identify and study marketing opportunities and issues. Researchers generate and evaluate marketing activities, monitor marketing performance, and improve understanding of marketing effectiveness.

The pillars of Marketing include Target Market, Market Research and Customer needs.

The elements of marketing mix include Product Pricing and Promotion

Marketing Management is defined by the American Marketing Association as “the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals”.

Marketing strategy will consider factors such as marketing mix, budgetary constraints, competitor analysis, target market analysis,

The price level selected should meet the financial goals of the company and ensure profitability, be realistic, support a product's positioning and be consistent with the other variables in the marketing mix

In marketing it is vital to test and measure. Every time you change a variable you need to evaluate the result, and discard what does not work, and build on it.

Integrated marketing occurs when all the departments in a company work together to fulfil customers’ needs

Defensive branding is about building market share

Sometimes you don’t have to increase your marketing budget to increase the effectiveness of a campaign. You can spend the same amount of money, and just by changing a headline or a design detail, you can alter public reaction to the product.