What is marketing?

Marketing refers to activities a company undertakes to promote the buying or selling of a

product or service. Marketing includes advertising, selling, and delivering products to
consumers or other business.
Marketing to the New Economy
Technology revolution, globalization and market deregulation factors are among many
sculpting the new economy. These 3 factors interact with each other at different levels
creating the driving force for the new economy
Marketing to the New Economy
In the old economy focus was only on standardization, mass production and singular
marketing policy. However, with the amount of information available in the new
economy, companies are best at understanding consumers.
Customer satisfaction 
Customer satisfaction is defined as a measurement that determines how
happy customers are with a company's products, services, and capabilities.
Customer Value is Benefits-Cost (CV=B-C). The term value signifies the benefits that
a customer gets from a product.
Customer retention definition
The process of engaging existing customers to continue buying products or services from
your business.
Market demand is the total amount of goods and services that all consumers are willing and
able to purchase at a specific price in a marketplace.
Market segmentation is a process of dividing a heterogeneous market into relatively more
homogenous segments based on certain parameters like geographic, demographic,
psychographic, and behavioural.
A market segment is a group of people who share one or more common characteristics,
lumped together for marketing purposes. 
Marketing strategy
Marketing strategy is the plan formulated particularly for achieving the marketing objectives
of the organization
Choosing target market-:  whom the organization wants to sell its products. All market
segment is not suitable to an organization ……create sub market.
Gathering the marketing mix: By marketing mix we mean how the organization proposes to
sell its products.
Four P ‘s product, price, place, and promotion.
Factors influencing the market can be categorized under 6 different titles,
1. demographic 5. Political environment
2. technology 6. Culture environment
3. economic,
4. ecology,
Consumer buying behaviour is the study of how consumers make decisions about
what they need, want, and desire and how do they buy, use, and dispose of goods.
A consumer is someone who consumes a product. Similarly, A customer is the one who
buys or purchases a product.
A market consists of two parts consumer market and business market.
Business buyer behaviour refers to the buying behaviour of organizations that buy goods
and services for use in the production of other products and services that are sold, rented or
supplied to others.
Product life cycle
A product life cycle is the amount of time a product goes from being introduced into
the market until it's taken off the shelves.
There are four stages in a product's life cycle—introduction, growth, maturity, and
decline.