Marketing and Marketing Mix. Promoting a Product

Marketing is a process of planning, designing and distributing ideas, goods and services in order to satisfy customer`s needs and make profits.

Marketing is a complex process of goods promotion which consists of four main components, which are called 4 Ps or marketing mix. Marketing mix is the activities you have to combine successfully in order to sell your product. These components include product, price, place and promotion. Product is actually ideas or services you`d like to sell. Price is the sum of money you`d like you get for selling your product in order to cover all production expenses and get profit. Promotion is the complex of activities you have to do to advertise your product. And place implies not only where you would like to sell your product (country, city, retail outlet), but also time (if the product meets current market situation or not). Moreover, there is one unspoken component of 4 Ps, which is packaging. Packaging is vitally important in marketing because it can make or break the whole marketing strategy of the company.

Every product has to be properly promoted so as to be profitably sold. So various methods of promotion are used by genius marketers and advertisers. They include classified advertisements in newspapers, open air hoardings, neon signs as well as display advertisements. Moreover, TV commercials are also a popular method of advertising. TV commercials can include product endorsement. Publicity can be gained by other promotional activities such as special offers, free samples, free gifts, competition with prizes, loyalty cards and cross promotion.

So if you want your product to be highly competitive and market-oriented, your company should pay a lot of attention to marketing and product promotion.