The+Scop+of+Marketing

= The Scope of Marketing :- =

To prepare to be a marketer, you need to understand what marketing is, how it works, and some important concepts must be considered.


 * Marketing** : is the process of communicating the value of a product or service to customers, for the purpose of selling the product or service.It is a critical business function for attracting customers.

From a societal point of view, marketing is the link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. It is the process of communicating the value of a product or service through positioning to customers.

Marketing can be looked at as an organizational function and a set of processes for :
 * 1) creating,
 * 2) delivering
 * 3) and communicating value to customers, and managing customer relationships in ways that also benefit the organisation and its shareholders.


 * Marketing management** : is a business discipline which is focused on the practical application of

marketing techniques and the management of a firm's marketing resources and activities


 * marketing planning** : process involves forging a plan for a firm's marketing activities. A marketing

plan can also pertain to a specific product, as well as to an organization's overall marketing

strategy.


 * Marketing research** : involves conducting research to support marketing activities, and the statistical

interpretation of data into information. This information is then used by managers to plan marketing

activities., gauge the nature of a firm's marketing environment and attain information from suppliers.

Marketing researchers use statistical methods such as quantitative research, qualitative research,

hypothesis tests, Chi-squared tests, linear regression, correlations, frequency distributions, poison

distributions,binomial distributions, etc. to interpret their findings and convert data into information.




 * Implementation :**



After the firm's strategic objectives have dentified, the target market selected, and the desired positioning for the company, product or brand has been determined, marketing managers focus on how to best implement the chosen strategy.

Traditionally, this has involved implementation planning across the "4 Ps" of marketing:
 * 1) product management.
 * 2) pricing (at what price slot does a producer position a product,
 * 3) place (the place or area where the products are going to be sold,
 * 4) and Promotion. Now[when?] a new P has been added making it a total of five P's.

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