Marketing is a huge subject, so it is useful to have a simple overview of what marketing really is. Most of us probably know some marketing activities like: using social media, printing leaflets and getting yourself out there in the world to tell people about what you do. However, marketing is a little more complex than that. In simple terms, marketing can be defined as:
‘…the management process responsible for identifying, anticipating and satisfying customer requirements profitably.’ (Chartered Institute of Management)
Or, in slightly easier language, delivering the right product or service to the customer at the right price, in the right place, at the right time.
In order to do this successfully, there are a number of key issues that need to be considered in what is called ‘The Marketing Mix’. These were traditionally known as ‘The Four Ps, but now it is widely accepted that there are ‘7Ps’.
These are outlined below: Read More