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Marketing is a word that we commonly use daily in our lives. In a layman term marketing is an art of selling something to someone. It is the positioning of offerings better than the competitor. Marketing is about sales, promotion, and advertising. It is a way or a tool of understanding the needs of the customer and provides the product accordingly which in turn gives profit to the company. Therefore, companies should develop and manufacture services and goods according to the customer’s needs to become successful. In marketing, there are two types of customer needs namely:

Met needs – there are certain companies like the toothpaste manufacturing companies like Colgate, Pepsodent who already knows the needs of the customer.

Unmet needs- needs which the company cannot fulfill Good companies try to meet the needs of the customers who are already met while great companies try to fulfill both the needs. According to the American Marketing Association, “Marketing is an act of creating, communicating, delivering and exchanging brands that are of value to the customer.”

There are a total of seven elements of marketing which are commonly known as 7 P’s or in other words Marketing Mix. These decide the products/companies' loss of success. All sort of information is provided in mix marketing which includes the following -

Product – information like the name of the product, its varieties, sizes, brands, and how packing is done.

Price – price plays an important role in determining the cost of the product that the company is offering and how much discount you are offering on that product and what is the payment mode.

Place – where are you selling your product and where are your inventory and the availability of the product.

Promotion – It involves the ways you take your product to target audience and also the ways by which you are making them aware that you are selling a particular product and specification about the product is also given here. Generally, you do this through ads, PR, or direct marketing.

People – for every company human resource is crucial similarly for marketing the staff of our company is important as they can be very helpful in increasing the brand value of the company. There are many parameters on which the staff is judged by the customer like his experience, qualification, training, and most importantly physical appearance as there is a famous saying that the first impression is the last.

Process – how fast the service is.

Physical evidence – last but not the least is the ambiance which is the physical environment that helps in increasing the branding of the company.

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