Marketing is the process of planning and executing product and service concepts, pricing, promotions and messages to customers to fulfill business objectives.
Marketing organizes and directs business activities to identify and satisfy market demand, plan and execute appropriate product development and sales strategies, identify target markets and target customers and convert them to actual customers.
Marketing focuses on both product and customer and incorporates the core business strategies that determine success or failure of the business.
Marketing has three (3) simple objectives:
Identify the customer
Satisfy the customer
Keep the customer
The success of marketing and advertising can be seen directly in BBB, order and business metrics data and trends.
Marketing incorporates several distinct areas:
|Market Research||Customer Targeting|
|Marketing Strategy||Market Segmentation|
|Advertising||Product Lifecycle Management|
Advertising is closely linked to marketing and is the communication of marketing messages and objectives to the customer in the most effective and efficient manner via a variety of channels.
The Marketing & Advertising model provides a data architecture that addresses the integrated marketing and advertising data of the entire organization:
|Market / Market Segment|