tailieunhanh - MBA In A Day Chapter 8

Chapter 8. Marketing, Strategy, and Competitive Analysis. We’ve all heard someone in the course of business say that “marketing is fluff and hype.” However, the wisest, most savvy, and most successful businesspeople understand that marketing is far from that. | Section HI MARKETS AND STRATEGY TLFeBOOK TLFeBOOK Chapter Marketing Strategy and Competitive Analysis We ve all heard someone in the course of business say that marketing is fluff and hype. However the wisest most savvy and most successful businesspeople understand that marketing is far from that. Marketing is everything you do on a daily basis to sell a product or provide a service to a customer. Marketing encompasses every way in which a customer perceives a business and everything that generates enough interest from a customer and encourages customers to actually pay for the product or service. As Peter Vessenes suggests cash may be king but marketing is everything. What does it really mean to market your service or product Often people immediately equate marketing with advertising and see only the amount of money that advertising will cost. However by definition marketing is actually the process by which we offer goods or services up for sale. Forward-thinking marketing strategists suggest that marketing is not a cost or expense but rather an investment because much of the benefit of marketing is longer-term and may take years to fully provide its benefit. Marketing has also been referred to as a social and managerial 145 .