Business Activity: Basic Introductory Facts Facilitating Marketing by @Chizzybahd

in Business Activity2 years ago (edited)

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Greetings Steemians♨️


Hello guys, it's such a privilege writing to you guys and enlightening us on the basic Introductory knowledge that facilitates marketing marketing process and induced sales. Firstly I would begin by explaining in details the definition of marketing.

It is really important to note that there are many successful marketing Icons, Prominent Men of great substance such as Peter Drucker, Phillip Kotler, Armstrong etc.

Among all these, Phillip Kotler is known as the father of Marketing for his great impact and successful career in marketing.

According to Dr. Philip Kotler(2016), "Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit".
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He further explained that the key point of marketing is to identify unfulfilled needs and desires, and then provide really efficient solution to it. This is when profit making is maximized and thus what makes few men all across the world attain a level of riches called wealth. There were some other men who also have their opinion on the definition of marketing.

According to Armstrong, Saunders and Wong, (2001:5), "Marketing is a social and managerial process by which individuals and groups obtain what they need and want though creating and exchanging products and value with each other.”
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These definitions of marketing then have me some ideas on the concept of marketing according to my own understanding.

According to me "Marketing is an industrial process that seeks to discover a problem, analyze it and then weigh alternative ways to eliminate the problem by Introduction of means to solve the problem, induce sales and thus facilitate profit making."

These solutions might come in form of products or services. It is worthy to more that the major aim of marketing is to make profit from it. Any problem you try to solve and all it does is to consume your resources without making you the slightest profit means that you are simply operating a loss in that business and you therefore cannot be termed a "Successful Marketer".

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The Marketing 4Ps


Let me also interest you by letting you know marketing is not always necessarily all about opening a big market or staying under the hot sun, or dressing up in a Suit as in professional workers or wearing an apron as in a market seller.

There are some key factors that are basic the fundamentals of being called "A Marketer". As long you as a person have these you are are set and ready to make profits, May I interest you guys on the "Marketing 4Ps", which are;
-Place
-Product
-Price
-People

Place

This is simply the platform upon which a person needs to use on his daily basis to be able to reach a target customers. Solve their needs and make his/her profits.

This term called place ranges from a trader's shop to a big organization's building all the way down to a blogger's website in his device(phone, tablets, or laptop). Place is simply the place where his appearance from time to time is what makes him his money.

Product

This simply means what the individual who wants to make the profit has to offer. What potentials he has in order to solve a problem. This ranges from having a producing/ manufacturing a new product as in Sugar production, to market selling example selling provisions, to rendering services delivering the provisions down to having our being a medium for sales efficiency as in the drivers invited in the delivery, am these things forms the product.

Price

This is a crucial factor that ensures that the profit is actually made. It is the value placed on each unit of a product or service rendered. The price can also be viewed as the factor that determines whether marketer wants to make short term profit out long term profit. It determines whether he is really serious that he is in the market to stay or whether his products would loose demand in the market. Price is simply the value placed on your product.

People

This simply refers to the the buyer and the seller. A trade can never occur without these two coming in contact either physically or online as in Jumia, Ali baba, Amazon etc. Everyone both great and small knows that this is the greatest of the 4Ps. No matter how great it how small this person may be, he's still a great determinant of the profit making in your business. This is the reason why marketers should treat their customers right and as we would often say "The customer is always right". Treat a customer right by convincing him in any means to try you product today might be just be the reason why he would remain your most loyal customer who would go out, spread the gospel about your product, get you new customers and this induce sales and more profit in the future. This also goes vice versa, treat a customer badly, he would go out and spread the gospel quite alright but this time he would be pushing away each and every customer he can, customers that can add one dollar more to your pocket.

Thank you guys, for reading through my article I hope you learnt something new from this. Leave a reply telling me more things you can add to this post and watch out for my next post as I would be telling you guys about advertising and promotion.

**All images used in this article were made by the Author using Canva.
10% set to Business Activity.

Post's NameBusiness Activity:Basic Introductory Facts Facilitating Marketing by @chizzybahd
Author of Post@chizzybahd
Business AddressUmuahia,Abia State, Nigeria
About Us:Link:

Here is a screenshot of my post on Twitter
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Thanks Guys.

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Digital marketing is of the utmost importance for all entrepreneurs who want to stay active in trends.

  • Take into consideration to add the social networks of your business and the logo of your company at the end of each article please.

Greetings, thank you for being active within the community.

 2 years ago (edited)

Here is a screenshot of my post on Twitter about this post

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