A brief summary of marketing and how it works

Marketing and the 7Ps: A brief summary of marketing and how it work

“ Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably.”

2 Marketing and the 7Ps – © CIM 2015

Marketing and the 7Ps: A brief summary of marketing and how it work

01 is marketing?
What
Every product we buy, every store we visit, every media message we receive and every choice we make in our consumer society has been shaped by the forces of marketing.
CIM (The Chartered Institute of Marketing) offers the following definition for marketing:

“ The management process responsible for identifying, anticipating and satisfying customer requirements profitably.”
Sometimes people assume marketing is just about advertising or selling, but this is not the whole story. It is a key management discipline that ensures producers of goods and services can interpret consumer desires and match, or exceed them.
The marketing process is central to the business performance of companies, both large and small, because it addresses the most important aspects of the market. It is about understanding the competitive marketplace and ensuring you can tap into key trends, reaching consumers with the right product at the right price, place and time.
Clever marketing has led to many recent business success stories - from pharmaceuticals to airlines, sports brands to food and drink, business-to-business companies to small, niche players.

Getting close has become more important than ever as digital and mobile technology make inroads into all aspects of life. This revolution has also provided new tools to make marketing more targeted, relevant and effective.
Today, as competitive pressures increase, marketing skills have never been more highly valued. What was once seen as a departmental activity is now