Marketing is an integrated, multi-channel (online and offline), customer-centric process used to define, segment, reach, and convince potential clients to purchase your product or service, followed by analyzing the metrics to refine your strategy and repeat the process as needed to optimize the ROI (return on investment). Sharon Mostly – Assistant Vice President, 1st Mariner Bank. Dry. Philip Kettle defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.
Marketing Identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the Identified market and the profit potential. It pinpoints which segments the company Is capable of serving best and It designs and promotes the appropriate products and services. “Marketing today Is finally customer-focused. Social media made that happen. Markets are once gall conversations. Marketing Is about knowing the market, creating the right product, creating desire for that product and letting the right people know you have t.
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The old adage that says, “If you build a better mousetrap people will beat a path to your door” doesn’t hold true without marketing. You might indeed have a better mousetrap, but if people don’t know you have it, and they don’t know where your door is, there will be no path beating and no conversation going on. Sally Fallow – PAR, Pressured Marketing is a way to connect what products and services you have to offer with customers who want and need such products and services.
It is multi- acted, starting with researching your target market and how best to deliver the message to coming up with a plan to execute your promotion via various marketing media. The goal is to develop a strategy to create, price and distribute your products and services for an exchange that will satisfy both your and your customers’ objectives. It is an ever evolving process – always evaluating that your message still meets the needs and wants of your market. Tries Green – Executive Vice President, Head of Marketing, Student Funding Group, LLC