Market Research Pass 1 Unit 3 Business Btec Level 3
Marketing Research for
Pass1
Unit 3
Definition
The management process through which goods and services move from concept to the customer. As a practice, it consists in coordination of four elements called 4P's: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy. As a philosophy, marketing is based on thinking about the business in terms of customer needs and their satisfaction. Marketing differs from selling because (in the words of Harvard Business School's emeritus professor of marketing Theodore C. Levitt) "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariably does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse, and satisfy customer needs."
Read more: http://www.businessdictionary.com/definition/marketing.html#ixzz25h1HF3mw
Marketing, Advertising and Sales - a definition
Marketing is not advertising. Marketing is finding out what people want, why they want it and how much they’ll spend. Don't confuse marketing with advertising.
Advertising is the promotion of a service or product or company. It features a strong call to action and promotes the benefits of that being advertised.
Sales is sales! It's converting an inquiry or lead into a contract or shipment. Sales is not market research, business development or advertising http://www.online-marketing-scotland.com/Marketing/Whatismarketing/tabid/62/Default.aspx
. Product/Service • What does the customer want from the product/service? What needs does it satisfy? •What features does it have to meet these needs? •Are there any features you've missed out?
•Are you including
Pass1
Unit 3
Definition
The management process through which goods and services move from concept to the customer. As a practice, it consists in coordination of four elements called 4P's: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy. As a philosophy, marketing is based on thinking about the business in terms of customer needs and their satisfaction. Marketing differs from selling because (in the words of Harvard Business School's emeritus professor of marketing Theodore C. Levitt) "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariably does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse, and satisfy customer needs."
Read more: http://www.businessdictionary.com/definition/marketing.html#ixzz25h1HF3mw
Marketing, Advertising and Sales - a definition
Marketing is not advertising. Marketing is finding out what people want, why they want it and how much they’ll spend. Don't confuse marketing with advertising.
Advertising is the promotion of a service or product or company. It features a strong call to action and promotes the benefits of that being advertised.
Sales is sales! It's converting an inquiry or lead into a contract or shipment. Sales is not market research, business development or advertising http://www.online-marketing-scotland.com/Marketing/Whatismarketing/tabid/62/Default.aspx
. Product/Service • What does the customer want from the product/service? What needs does it satisfy? •What features does it have to meet these needs? •Are there any features you've missed out?
•Are you including