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Principles of Marketing Notes

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Principles of Marketing Notes

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rdx9672
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We take content rights seriously. If you suspect this is your content, claim it here.
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Class Notes: Principles of Marketing

Introduction to Marketing
Marketing is the process of identifying, anticipating, and satisfying customer needs
profitably. It involves creating value and building strong customer relationships.

4 Ps of Marketing
The 4 Ps are Product, Price, Place, and Promotion. These elements form the foundation of
marketing strategy.

Market Segmentation
The process of dividing a market into distinct groups of buyers with different needs,
characteristics, or behavior. Common bases include geographic, demographic,
psychographic, and behavioral.

Consumer Behavior
Understanding why consumers make purchasing decisions is essential. Influences include
cultural, social, personal, and psychological factors.

Marketing Research
The systematic design, collection, analysis, and reporting of data relevant to a specific
marketing situation. Helps businesses make informed decisions.

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