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Module 02: Marketing

 

Marketing in general is an integrated communications-based process through which individuals and communities are informed or persuaded that existing and newly-identified needs and wants may be satisfied by the products and services of others. Therefore, marketing is used to create the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management – the other being Operations (or Production).
The overall process starts with marketing research and goes through market segmentation, business planning and execution, ending with pre and post-sales promotional activities. It is also related to many of the creative arts. The marketing literature is also adept at re-inventing itself and its vocabulary according to the times and the culture.
At the end of this module you will be able to:
• Have an understanding of the importance of marketing
• Understand the different components of the marketing mix
• Understand what a marketing collaboration entailed such as branding collaboration
• Relate some practical examples of SME marketing collaborations

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