Marketing Types

Marketing Types & Process With Definition Mix Steps Example

Marketing is one of the most important aspects of any Trade business. Marketing is the process of creating value for a company through the creation and distribution of products or services. Marketing can be divided into two categories:

  1. Marketing Planning: This is the process of developing a plan to introduce a new product or service to the market. Marketing planning includes market research, product development, pricing strategy, and branding.
  2. Marketing Execution: This is the process of implementing the marketing plan and reaching the target market. Marketing execution includes advertising, public relations, direct marketing, and sales promotion.

There are four main types of marketing:

  1. Product Marketing: This is the process of creating and selling products. Product marketing includes product development, branding, pricing, and distribution.
  2. Marketing Communications: This is the process of communicating with the target market. Marketing communications include advertising, public relations, and direct marketing.
  3. Relationship Marketing: This is the process of building and maintaining relationships with customers. Relationship marketing includes customer service, loyalty programs, and social media.
  4. Marketing Research: This is the process of gathering information about the target market. Marketing research includes market research, focus groups, and surveys.

The Marketing Process Steps with Examples

The marketing process can be divided into five steps:

  1. Market Research: This is the process of gathering information about the target market. Marketing research includes market research, focus groups, and surveys.
  2. Product Development: This is the process of developing a new product or service. Product development includes product design, testing, and branding.
  3. Marketing Planning: This is the process of developing a plan to introduce a new product or service to the market. Marketing planning includes market research, product development, pricing strategy, and branding.
  4. Marketing Execution: This is the process of implementing the marketing plan and reaching the target market. Marketing execution includes advertising, public relations, direct marketing, and sales promotion.
  5. Evaluation and Control: This is the process of evaluating the results of the marketing campaign and making changes as needed. Evaluation and control include market research, sales data, and customer feedback.

Marketing Process

The Marketing Mix

A marketing mix is a tool that marketers use to create a marketing plan. The marketing mix includes four elements:

  • Product: This is the product or service that is being marketed.
  • Price: This is the price of the product or service.
  • Place: This is the place where the product or service is being sold.
  • Promotion: This is the method of marketing the product or service. Promotion includes advertising, public relations, and direct marketing.

The Marketing Process in Action

Let’s take a look at an example of the marketing process in action for businessmen. Company A is introducing a new product to the market. They conduct market research to determine who their target market is and what they want. They then develop a product that meets the needs of their target market. They create a marketing plan that includes a product launch, advertising, and a sales promotion. They then execute their marketing plan and measure the results. They evaluate the results and make changes as needed.

This is a simplified example of the marketing process. In reality, the process is more complex and involves many more steps. However, this gives you a general idea of how the marketing process works.

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