Well, marketing is a very vast field of study with numerous elements as well as sub-topics. Marketing can be defined as the activity of any business organization that is associated with or related to purchasing and selling of a service product. Advertisements, news releases, commercials, search engine optimization, mobile marketing, tweeting, blogging, bookmarking, pinning and networking are a few tools of marketing. The main aim of marketing organizations is to grab the attention of target market segments or audiences by making use of celebrity endorsements, design of packets, slogans, general media exposure, etc. Marketing has been an integral part of all forms of businesses or industries from the earliest times.
For the purpose of marketing organizations need to come up with effective marketing strategies, plans and very productive marketing mixes. They have been described below:
A marketing strategy mainly aims at helping the business organization attain a sustainable competitive edge and increasing sales. A marketing strategy comprises all short term and long-term activities as well as all includes all the basic and essential marketing activities.
A marketing plan can be simply defined as a business document that is developed for describing the market’s current position, as well as the strategies of the business organization for the particular time period which is usually one to five years.
A marketing mix can be defined as a tool that marketers use for the purpose of marketing. Marketing mix is a term used to describe a set of actions or tactics. A company uses these tactics for promoting its product, service or brand in the market. The marketing mix comprises of 4 P’s - Product, Price, Place and Promotion. All marketing-mix elements are interrelated and affect each other. The 4 P’s of marketing have been explained below:
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