Welcome to the the digital marketing blog
In this blog, we will have fun learning the subject with classic examples of the domain.
By the end of this blog, we will be ready to deep dive into the world of digital marketing.
Good luck and bon voyage!
Introduction to Marketing
Have you ever talked to your friend about your favorite movie?
And were you able to convince him/her to watch the movie in a theater?
If yes, then congratulations my friend! You have just learn the subtle art of marketing is all about this? Well, no!
Let's look out the term in detail.
What is marketing?
Marketing refers to the activities that a person or company undertakes to promote the buying or selling of a product or service.
These activities include advertising, selling, and delivering products to consumers.
The fathers of marketing, Dr.Philip Kotler defines the term marketing as "the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit".
4 Ps of Marketing
Marketing is all about promotion the right product at the right price and in right place.
These 4 PS need to kept in mind throughout the entire marketing process. They are,
1. Product
2. Price
3. Place
4. Promotion
Product
The product is what the company is trying to sell to consumers.
The first step is to determine what product the company wants to sell that consumers will want to purchase.
The product should be unique and different in terms of
1. Design
2. Features
3. Brand Name
4. Product variety
5. Quality
6. Services
7. Packaging, returns, etc.
Price
Price : the price is how much the company should charge for the product.
There are many variables that come into play when deciding on the price of an item.
The price depends on how much it costs to make the item as well as advertising costs, distribition costs, overhead costs, competitor pricing, etc.
To put in simple words-it is the amount you are willing to give for a product.