First we need to understand the meaning and need of marketing in today’s world
As there are so many startup, millions of people wants to start or grow their business
Key components of marketing
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- Research: Understanding consumer needs and market trends to develop products and services that will be successful.
- Promotion: Communicating the value of a product or service to a target audience through advertising, social media, and other channels.
- Distribution: Getting the product or service to the customer, which can include physical and online channels.
- Sales: Converting interest into a purchase.
- Relationship building: Fostering long-term customer loyalty and engagement, which is crucial for sustained business success.
The Four Ps of Marketing
A foundational concept in marketing is the “Four Ps,” which represent the key elements of a marketing strategy:
- Product: What you are selling.
- Price: How much you are charging for it.
- Place: Where customers can access it.
- Promotion: How you are advertising and communicating its value to customers.