Monday, 14 December 2020

Principles of marketing

 


Principles of marketing, marketing is considered one of the vital concepts in our contemporary life as it is present in every economic activity around us, and it affects all of us and it is difficult to imagine our contemporary life without marketing.

 

So when a person is exposed to the acquisition of a certain commodity or when he declares his need for certain services, such as housing or education, for example, he is part of the marketing process, and in return when he applies for a specific job, that is, he submits his CV, that is, he is marketing himself.

 

Therefore, it can be said that the marketing process is a reciprocal process that we often practice in our daily life and in organizations, whether on the customer side or the marketing side, which we will learn gradually in the article.

 

Marketing exchange process

This process is based on providing something of value (money) in order to obtain something of value (a specific product) and the product is anything that customers exchange for a certain value because it achieves the satisfaction of a need or desire. Marketers classify products into three categories:

 

1- Goods: These are physical products that customers perceive by touch, sight, taste, or hearing.

2- Services Services: Intangible products that provide financial or legal, medical, or entertainment benefits to customers.

3- Ideas: specific concepts, philosophies, or perceptions that can be exchanged in the marketplace that offer intellectual or spiritual benefits to customers.

 

On the other hand, establishments with different goals perform two main functions: producing (goods, services, and ideas) and then marketing them, as this thing applies to large and small profit and non-profit organizations, and from here it can be said that production and marketing are the essences of economic life in any society.

 

Production is the process by which materials are transformed from one form to another, such as converting raw materials into a finished product ready for consumption or use, while we find that marketing is concerned with all needs and desires within the available resources in pursuit of achieving its goals, whether profitable or non-profit.

 

Therefore, marketing can be defined according to the American Marketing Association as:

The process of planning and implementing the concept of pricing, promotion, and distribution of ideas, goods, and services to create reciprocity that satisfies and achieves the goals of individuals and organizations.

 

Marketing management is defined as the art and science of selecting target markets and obtaining and maintaining consumer development by creating and delivering superior customer value. The Marketing Department is considered among the basic departments in the organizational structure of contemporary organizations.

 

The reciprocal process

The essential and basic element in the definition of marketing is reciprocity, which means that someone offers something useful and valuable in exchange for obtaining something else of benefit and value. There are several conditions for a successful exchange:

 

1- At least two parties or two parties.

2- Each party has an interest and desire for what the other party has.

3- Each party has the ability to deal, communicate, and hand over what it has to the other party.

4- The right of each party to reject or accept what the other party offers.

5- The absence of any of the previous conditions does not achieve the completion of the reciprocal process.

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