Marketing SS2 Data Processing Lesson Note

Marketing is the process of identifying, anticipating, and satisfying customer needs and wants profitably. It involves creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing encompasses various activities such as market research, product development, pricing, promotion, distribution, and customer relationship management.

METHODS OF MARKETING

1. Digital Marketing: Utilizing online channels such as websites, social media, email, and search engines to reach and engage with target audiences.

2. Content Marketing: Creating and distributing valuable, relevant content to attract and retain a clearly defined audience, and to drive profitable customer action.

3. Social Media Marketing: Leveraging social media platforms to build brand awareness, engage with customers, and drive website traffic or sales.

4. Email Marketing: Sending targeted, personalized emails to communicate with prospects and customers, promote products or services, and nurture leads.

Influencer Marketing: Collaborating with influential individuals or organizations to promote products or services to their followers or audience.

5. Traditional Marketing: Conventional methods such as print advertising, television commercials, radio ads, direct mail, and event sponsorships.

6. Word-of-mouth Marketing: Encouraging satisfied customers to spread positive word-of-mouth recommendations about products or services.

IMPORTANCE OF MARKETING

1. Marketing helps identify and fulfil customer needs, leading to higher levels of satisfaction.
2. Effective marketing strategies drive sales, expand market share, and increase revenue.
3. Marketing builds brand recognition and visibility, making products or services more recognizable and memorable to consumers.
4. Strong marketing efforts differentiate a company from its competitors, positioning it favourably in the market.
5. Marketing research provides insights into market trends, consumer behaviour, and emerging opportunities, fostering innovation and product development.