Re: Marketing management
Marketing is not all about spending money on advertising, or offering free products as a promotional offer. There are many critical steps involved in efficient marketing. First of them is to know the target market, through a process called Market Research. By researching, the firm identifies the demographics and requirements of the society, who might become potential customers. The Firm has to apply the dynamics of Segmentation, Positioning and Targeting, once the research has been performed. A good marketing strategy cannot be developed by a firm without doing proper groundwork on its potential customers.