If production is to meet the needs efficiently, two things are necessary. These are: producers must know what to produce and consumers must know that it is being produced. Linking these two factors together is the task and responsilility of the marketing staff. Marketing involves keeping producers aware of the needs of consumers and ensuring that their products are made available to consumers in the way and form they want.
Implementation of marketing concept begins and ends with marketing information about customers first to determine what customers need, and later to evaluate how well the firm is meeting those needs.
An essential part of marketing is marketing research. The object of it is to find out what consumers want and advise producers the standard of quality, style of packaging, choice of brand name and general design of the products.
The most famous marketing term is marketing mix. Its elements are the basic components of marketing plan. Also known as the Four Ps, the marketing mix elements are price, place, product and promotion.
Price includes both base prices and discounts of various kinds. Marketing managers should always be in close touch with market conditions so that they can advise on the best price to charge for products.
Place is also known as distribution. It is the mechanism through which goods and services are moved from manufacturer to the customer. Products can be distributed to consumers in different ways. Some are best distributed through the manufacturers own retail outlet, some through a network of wholesalers and retailers, others by direct mail-order. Distribution involves not only transportation and storage but also selection of intermediaries.
For many a product is simply the physical object that they may be buying or selling. But in marketing product is a very complicated component of the marketing mix. It includes decisions about product design, brand name, packing, warranties, and the like.
Promotion focuses on providing information to target markets. It includes advertising and publicity with all the tools available to the marketer for marketing communication. Advertising involves choice of media (for example, radio, television, press, and boarding). It also involves knowing the best form advertisement should take, and the advertising slogan to be used.
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