Jess Irving
Task 2
Marketing
Most people think that marketing is only about the advertising and/or personal selling of goods and services. Advertising and selling, however, are just two of the many marketing activities.
In general, marketing activities are all those associated with identifying the particular wants and needs of a target market of customers, and then going about satisfying those customers better than the competitors. This involves doing market research on customers, analyzing their needs, and then making strategic decisions about product design, pricing, promotion and distribution.
As a result, a business needs to discover:
- What to make and sell
- How many to make and sell
- Who to sell to
- How to encourage these people to buy
- How much to charge for what is sold
