Principle of marketing

Chapter#1
 Marketing 4 pcs
• Product: This is what you're selling. It could be something you make
or a service you provide. It's important to make sure it's something
people want and find valuable.
• Price: This is how much you charge for your product or service. You
want to set a price that's fair for both you and your customers. It
should cover your costs and make you a profit, but it also needs to
be something your customers are willing to pay.
• Place: This is where and how you sell your product. It could be in a
physical store, online, or through other businesses. You want to
make sure your product is available in places where your customers
can easily find and buy it.
• Promotion: This is how you tell people about your product and
convince them to buy it. It includes things like advertising, sales
promotions (like discounts or special offers), and other ways to get
the word out about what you're selling.
 Marketing’s 4 P’s (+2)

• People: Know who your customers are and what they want. Understand
their needs and preferences so you can offer them the right products or
services.
• Product: This is what you're selling. Make sure it's something people want
and find valuable. It should be well-made and meet their needs.
• Price: Decide how much to charge for your product or service. You want to
make a profit, but you also need to keep it affordable for your customers.
• Place: This is where you sell your product. It could be online, in stores, or
through other businesses. Make sure it's available where your customers
can easily find it.
• Promotion: Tell people about your product and convince them to buy it.
This could involve advertising, special offers, or other ways to get the word
out.
• Profits: At the end of the day, you want to make money. Keep track of your
costs and revenue to ensure your business is profitable.
 Marketing challenges
• 1. The Information Technology Boom: This means there are lots of
new ways to use technology to advertise and sell stuff. Think social
media, websites, and online ads. But because there are so many
options, it's important for marketers to keep up with the latest tech
trends
• 2. Rapid Globalization: This is when companies start doing business
all over the world. It's great because it means more customers, but
it also means they need to understand different cultures and
languages to sell their products successfully in other countries.
• 3. The Changing World Economy: Sometimes the economy goes up
and down, and that affects how much people spend on things.
Marketers need to be ready to change their plans depending on
whether people are feeling confident about spending money or
not.
4. The Call for More Ethical and Social Responsibility: Nowadays,
people care more about issues like being eco-friendly or treating SARA
GUL workers fairly. So, companies need to show they're doing the right
thing to keep customers happy.
5. The New Marketing Landscape: Things are changing in how
companies advertise. It's not just about TV ads anymore. Now, there's
social media, influencers, and lots more. Marketers have to keep up
with these changes to reach people in the best way possible.