MARKETING PROCESS

A series of steps that is used by organizations in identifying customers’ problems, it also

used in analyzing market opportunities, and creating marketing materials to reach the
desired audience.

The aim of a company's marketing program should be to help consumers gain an

appreciation of the products the company is offering, and how the products will meet the
needs of the consumers it is trying to reach

In a dynamic setting, marketing concept refers to the process of generating, distributing,

promoting, and pricing items in order to facilitate satisfactory exchange interactions with
customers and to build and maintain beneficial connections with stakeholders.

In short, needs are things that satisfy the basic requirement. Wants are requests directed to
specific types of items. Demands are requests for specific products that the buyer is willing to
and able to pay for.

A want is something that you desire and something that an individual does not possess yet.
Unlike a need, which is mandatory

Maslow’s hierarchy of needs was developed by Abraham Maslow, a specialist in human

behavioral psychology. The hierarchy was first developed to help explain the connection
between basic human needs and human desires.

If marketers know the wants and needs of their target market (which every
good marketer should!) then this can be used as a selling point to influence

Price is the amount a business charges its customers for its product or service.
Prices are set according to how much a customer is willing and able to pay. Customers
want value for money and this may mean a business needs to set low prices to
generate high levels of sales.
Market philosophy is a marketing idea that considers production, sales and customer satisfaction.