The “Bear Necessities” of Marketing By: Ryan Paolini

Marketing is a vast and unique field. It is overflowing with information, but how are marketers successful? Here are some basic terms that every marketer needs to know in order to succeed…

  • Marketing Mix: The notorious 4 P’s of Marketing… Price, Place, Product, Promotion.
  • Market: The group of potential buyers.
  • Target Market: The specific group of people you are trying to sell your product/service to.
  • Goods & Services: These are what you sell to the consumer. Goods are tangible products and services are intangible. Both fulfill a need or want for the consumer.
  • Competitive Advantage: The advantage a business has over its competitors, can be cost, product/service differentiation, and niche.
  • CRM (Customer Relationship Management): Finding out what consumers desire and tailoring your goods/services to meet these wants and needs.
  • Branding: Making your products/services unique and recognizable for consumers.

 

What is Marketing? https://www.youtube.com/watch?v=Gqp29XSBdP4

 

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