Finals are here, and and i bet everyone is busy studying.
Even after the course, i figure out it’s still a good way to update the marketing blog, and today since i’m studying marketing, i want to talk about all the fundamental things that I learnt from the course.
First of all, I want to talk about the what’s marketing again, all the fundamental which would also help me preparing for my exam. So marketing consists of all activities designed to generate and facilitate any exchange intended to satisfy human needs or wants. More simply put in business terms, activities designed to plan, price, promote and distribute products or services to target markets. Up next come the marketing 4Ps, which I think are what Tamar talk about all semester long.
The 4 P’s of marketing are listed below.
Product – the products or services you offer and are they unique, superior, easier to use
Price – how much to sell your products for, based on your cost and value to potential customers
Promotion – communicating to potential customers to create an awareness of your business
Place – your business location and methods of distributing your products
Why do we need marketing after all, it is because marketing is our method of communicating to people that your company, product or service exists. It’ no use having the best product in the world if nobody knows about it or about everyone else.
So I hope everyone get a goooood mark on their finals, and before publishing this post, I want to share some funny facts that I found online that are all about marketing:
-Most purchasing decisions are made in the unconscious.
-Your marketing can be twice as effective if you aim it at both right-brained (emotional, aesthetic) and left-brained (logical, sequential) people. The North American population is about evenly divided, so if you use only one approach, half your advertising budget will be wasted.
-Getting a person to say yes to a sale works best if you establish momentum first with lesser questions to which it is easy to answer yes.
