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What is marketing?

Wikipedia says marketing is the study and management of exchange relationships.

It is the process of identifying, anticipating, and satisfying customers' needs and wants.

Because marketing is used to attract customers, it is one of the

primary components of business management and commerce. This is just scratching the surface. I will

drill a little deeper today on this side dish episode of the business buffet.

Welcome to the business buffet side dish. This is a quick snack on a

specific area of business. Today we will present a concise element you need to run your business.

Remember to visit business buffet. page or listen to wherever you get your podcast. It's snack time.

Welcome to another side dish episode of the business buffet. I'm Phil

Anderson. And today, I'm going to talk a little bit about marketing. In a nutshell,

marketing is the link between a society's material requirements and its economic patterns of

response. Marketing satisfies these needs and wants through exchange

processes and building long-term relationships. It is also the process of communicating the value

of a product or service through positioning to customers. Great. We got that out of the way.

What does all of that really mean anyway? Well, in practical terms, marketing encompasses the four P's of the marketing mix

to identify and communicate value to the target market. Those P's are product, price, place, and promotion. According to bizfluent.com,

there are six fields of marketing and each falls within this marketing mix. Market research. Market research

entails, analyzing, and interpreting information

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