Discuss the elements of marketing.
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The world of marketing management is a vast one. Current trends based on the changing nature of business and technology has given us a plethora of philosophies to navigate through when considering the most important aspects of marketing. While it is important to stay current on trends in every avenue of business, there are still plenty of opportunities for the modern marketing manager to learn from time-tested and proven concepts. One such concept is known as the four Ps of marketing. These terms are helpful for the budding marketing professional, as she obtains a Master's in Marketing Managementfrom any one of the nation's best business schools, as well as championed by the seasoned business professional in marketing.
THE ELEMENT OF PRODUCT IN MARKETING
The first, and most important, factor to understand in marketing is what product is being marketed to a specific target market. A target market may consist of a certain type of person living in a certain place with specific purchasing tendencies. The success of any product is often determined by how well a marketing firm can measure the chance of desirability from the specific segment of society it is trying to sell to. One such example of a logical connection of product to target market is Whirlpool's putting washers and dryers in over 50 schools across America as part of their Every Day, Care. Campaign. This campaign produced a 90% increase in school attendance for test markets and created a successful social marketing opportunity for Whirlpool.
THE ELEMENT OF PRODUCT IN MARKETING
The first, and most important, factor to understand in marketing is what product is being marketed to a specific target market. A target market may consist of a certain type of person living in a certain place with specific purchasing tendencies. The success of any product is often determined by how well a marketing firm can measure the chance of desirability from the specific segment of society it is trying to sell to. One such example of a logical connection of product to target market is Whirlpool's putting washers and dryers in over 50 schools across America as part of their Every Day, Care. Campaign. This campaign produced a 90% increase in school attendance for test markets and created a successful social marketing opportunity for Whirlpool.
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