The process of letting customers know and understand about a product and service is called as marketing. After the customer goes through the product, it is up to him or her about the purchasing part. Meaning of marketing takes time to understand since there is the involvement of convincing and pursuing a customer for the product to be purchased. Plus, there is the need to understand targeted customers about their mindset and capability of buying more.
In short, selling of products and services to consumers is the main aim and focus of marketing. Proper planning and decision-making results in profit for companies. In order to understand more on marketing, you should be knowing on these 4 stages.
- Idea – Before launching any product, some form of idea is important about the product or service. Based on the ideas, the companies will be able to come up with factors related to the product.
- Testing and Research – Reliability about the product is crucial which is done via research and testing. Based on the results, the quality of the product can be defined which can then be experienced by the consumer.
- Advertising – For a product to reach the eyes, ears and minds of the consumer, advertising is necessary for the companies to do.
- Selling – When it comes to selling a product, there are factors the companies need to deal with. For instance; the company can deal either deal directly with customers or reach wholesalers or retailers. For this step, proper planning is important.
Management training courses also teaches a few things about marketing.