Marketing Plan

A sound marketing plan is key to the success of your business. It should include your market research, your location, the customer group you have targeted, your competition, positioning, the product or service you are selling, pricing, advertising, and promotion. "You're in business to serve a customer need," says Derek Hansen, founder of American apital Access. "If you're not sensitive to customers, don't kno! !ho your customers are, ho! to reach them and, most of all, !hat !ill convince them to buy your product or service, get help." "ffective marketing, planning and promotion begins !ith current information about the marketplace. #isit your local library, talk to customers, study the advertising of other businesses in your community, and consult !ith any relevant industry associations. $his interactive tool !ill help you assess your marketing strengths and !eaknesses. %nce you have all the necessary information, !rite do!n your plan& 1: Define your business Your product or service Your geographic marketing area ' neighborhood, regional or national Your competition Ho! you differ from the competition ' !hat makes you special Your price $he competition's promotion methods Your promotion methods Your distribution methods or business location 2:Define your customers Your current customer base& age, se(, income, neighborhood Ho! your customers learn about your product or service ' advertising, direct mail, !ord of mouth, Yello! )ages )atterns or habits your customers and potential customers share ' !here they shop, !hat they read, !atch, listen to *ualities your customers value most about your product or service ' selection, convenience, service, reliability, availability, affordability *ualities your customers like least about your product or service ' can they be ad+usted to serve your customers better, )rospective customers !hom you aren't currently reaching 3:Define your plan and budget )revious marketing methods you have used to communicate to your customers -ethods that have been most effective ost compared to sales

ost per customer )ossible future marketing methods to attract ne! customers )ercentage of profits you can allocate to your marketing campaign -arketing tools you can implement !ithin your budget ' ne!spaper, maga.ine or Yello! )ages advertising/ radio or television advertising/ direct mail/ tele'marketing/ public relations activities such as community involvement, sponsorship or press releases -ethods of testing your marketing ideas -ethods for measuring results of your marketing campaign $he marketing tool you can implement immediately $he final component in your marketing plan should be your overall promotional ob+ectives& to communicate your message, create an a!areness of your product or service, motivate customers to buy and increase sales, or other specific targets. %b+ectives make it easier to design an effective campaign and help you keep that campaign on the right track. %nce you have defined your ob+ectives, it is easier to choose the method that !ill be most effective. "(ecutive 0ummary urrent 0ituation ompetitor and Issue Analysis 1hat do you !ant to achieve, ' -arketing %b+ectives Ho! !ill you get there, ' 0trategi.ing !ith "$he 2 )s" Your "to do" list ' Action )rograms Ho! much !ill everything cost, ' Your 3udget

Marketing Basics
$o succeed, entrepreneurs must attract and retain a gro!ing base of satisfied customers. -arketing programs, though !idely varied, are all aimed at convincing people to try out or keep using particular products or services. 3usiness o!ners should carefully plan their marketing strategies and performance to keep their market presence strong. What is Marketing? -arketing is based on the importance of customers to a business and has t!o important principles& 4. All company policies and activities should be directed to!ard satisfying customer needs. 5. )rofitable sales volume is more important than ma(imum sales volume. $o best use these principles, a small business should& Determine the needs of their customers through market research Analy.e their competitive advantages to develop a market strategy 0elect specific markets to serve by target marketing

Determine ho! to satisfy customer needs by identifying a market mi( Market esearch 0uccessful marketing re6uires timely and relevant market information. An ine(pensive research program, based on 6uestionnaires given to current or prospective customers, can often uncover dissatisfaction or possible ne! products or services. -arket research !ill also identify trends that affect sales and profitability. )opulation shifts, legal developments, and the local economic situation should be monitored to 6uickly identify problems and opportunities. It is also important to keep up !ith competitors' market strategies. Marketing !trategy A marketing strategy identifies customer groups !hich a particular business can better serve than its target competitors, and tailors product offerings, prices, distribution, promotional efforts, and services to!ard those market segments. Ideally, the strategy should address unmet customer needs that offer ade6uate potential profitability. A good strategy helps a business focus on the target markets it can serve best. "arget Marketing %!ners of small businesses usually have limited resources to spend on marketing. oncentrating their efforts on one or a fe! key market segments ' target marketing ' gets the most return from small investments. $here are t!o methods used to segment a market& 4. 7eographical segmentation ' 0peciali.ing in serving the needs of customers in a particular geographical area. 8or e(ample, a neighborhood convenience store may send advertisements only to people living !ithin one'half mile of the store. 5. ustomer segmentation ' Identifying those people most likely to buy the product or service and targeting those groups. -anaging the -arket -i( "very marketing program contains four key components& )roducts and 0ervices )romotion Distribution )ricing $hese are combined into an overall marketing program. )roducts and 0ervices ' )roduct strategies may include concentrating on a narro! product line, developing a highly speciali.ed product or service, or providing a product'service package containing unusually high'6uality service. )romotion ' )romotion strategies include advertising and direct customer interaction. 7ood salesmanship is essential for small businesses because of their limited ability to spend on advertising. 7ood telphone book advertising is also important. Direct mail is an effective, lo!'cost medium available to small business. )rice ' $he right price is crucial for ma(imi.ing total revenue. 7enerally, higher prices

mean lo!er volume and vice'versa/ ho!ever, small businesses can often command higher prices because of their personali.ed service. Distribution ' $he manufacturer and !holesaler must decide ho! to distribute their products. 1orking through established distributors or manufacturers' agents generally is easiest for small manufacturers. 0mall retailers should consider cost and traffic flo! in site selection, especially since advertising and rent can be reciprocal& A lo!'cost, lo!' traffic location means spending more on advertising to build traffic. $he nature of the product or service is also important in siting decisions. If purchases are based largely on impulse, then high traffic and visibility are critical. %n the other hand, location is less a concern for products or services that customers are !illing to go out of their !ay to find. $he recent availability of highly segmented mailing lists, purchased from list brokers, maga.ines, or other companies, has enabled certain small businesses to operate from any location yet serve national or international markets. Marketing Performance After implementing a marketing program, entrepreneurs must evaluate its performance. "very program should have performance standards to compare !ith actual results. 9esearching industry norms and past performance !ill help to develop appropriate standards. "ntrepreneurs should audit their company's performance at least 6uarterly. $he key 6uestions are& 4. Is the company doing all it can to be customer'oriented, 5. Do employees ensure the customers are satisfied and leave !anting to come back, :. Is it easy for the customer to find !hat he or she !ants at a competitive price,;

marketing
mar<ket<ing =m>r#k?'t?ng@ n. $he act or process of buying and selling in a market. $he commercial functions involved in transferring goods from producer to consumer.

marketing
marketing, in economics, that part of the process of production and e(change that is concerned !ith the flo! of goods and services from producer to consumer. In popular usage it is defined as the distribution and sale of goods, distribution being understood in a broader sense than the technical economic one. -arketing includes the activities of all those engaged in the transfer of goods from producer to consumer'not only those !ho buy and sell directly, !holesale and retail, but also those !ho develop, !arehouse, transport, insure, finance, or promote the product, or other!ise have a hand in the process of transfer. In a modern capitalist economy, !here nearly all production is intended for a market, such activities are +ust as important as the manufacture of the goods. It is estimated in the Anited 0tates that appro(imately BCD of the retail price paid for a

commodity is made up of the cost of marketing. $%olution of Modern Marketing In a subsistence'level economy there is little need for e(change of goods because the division of labor is at a rudimentary level& most people produce the same or similar goods. Interregional e(change bet!een disparate geographic areas depends on ade6uate means of transportation. $hus, before the development of caravan travel and navigation, the e(change of the products of one region for those of another !as limited. $he village market or fair, the itinerant merchant or peddler, and the shop !here customers could have such goods as shoes and furniture made to order !ere features of marketing in rural "urope. $he general store superseded the public market in "ngland and !as an institution of the American country to!n. In the Anited 0tates in the 4Eth cent. the typical marketing setup !as one in !hich !holesalers assembled the products of various manufacturers or producers and sold them to +obbers and retailers. $he independent store Fhttp&GG!!!.ans!ers.comGtopicGstoreH, operated by its o!ner, !as the chief retail marketing agency. In the 5Cth cent. that system met stiff competition from chain stores, !hich !ere organi.ed for the mass distribution of goods and en+oyed the advantages of large'scale operation. $oday large chain stores dominate the field of retail trade. $he concurrent advent of the motor truck and paved high!ay, making possible the prompt delivery of a variety of goods in large 6uantities, still further modified marketing arrangement, and the proliferation of the automobile has e(panded the geographic area in !hich a consumer can make retail purchases. Modern Marketing At all points of the modern marketing system people have formed associations and eliminated various middlemen in order to achieve more efficient marketing. -anufacturers often maintain their o!n !holesale departments and deal directly !ith retailers. Independent stores may operate their o!n !holesale agencies to supply them !ith goods. 1holesale houses operate outlets for their !ares, and farmers sell their products through their o!n !holesale cooperatives. 9ecent years have seen the development of !holesale clubs, !hich sell retail items to consumers !ho purchase memberships that give them the privilege of shopping at !holesale prices. ommodity e(changes, such as those of grain and cotton, enable businesses to buy and sell commodities for both immediate and future delivery. -ethods of merchandising have also been changed to attract customers. $he one'price system, probably introduced =4I24@ by A. $. 0te!art in Je! York, saves sales clerks from haggling and promotes faith in the integrity of the merchant. Advertising has created an international market for many items, especially trademarked and labeled goods. In 4EEE more than K:CI billion !as spent on advertising in the Anited 0tates alone. $he number of customers, especially for durable goods, has been greatly increased by the practice of e(tending credit, particularly in the form of installment buying and selling Fhttp&GG!!!.ans!ers.comGtopicGinstallment'buying'and'sellingH. ustomers also buy through mail'order catalogs =much e(panded from the original catalog sales business of the late 4ICCs@, by placing orders to speciali.ed Lhome'shoppingM television channels, and through on'line transactions =Le'commerceM@ on the Internet Fhttp&GG!!!.ans!ers.comGtopicGinternetH.

0ervices are marketed in much the same manner as goods and commodities. 0ometimes a service, like that of a repair person or physician, is marketed through the same act that produces it. )ersonal services may also be brokered by employment agencies, booking agents for concert or theatrical performers, travel agents, and the like. -ethods of marketing no! include market research, motivational research, and other means of determining consumer acceptability of a product before the producer decides to manufacture and market it on a large scale. -arket research, often conducted by means of telephone intervie!s !ith consumers, is a ma+or industry in itself, !ith the top BC A.0. marketing firms tallying revenues of KB.E billion in 4EEI. 3ibliography 0ee N. 1ilmshurst, The Fundamentals and Practice of Marketing =4EI2@/ ". Oaynak and 9. 0avitt, ed., Comparative Marketing Systems =4EIP@/ ". N. -c arthy and 1. D. )erreault, Nr., Basic Marketing =4Cth ed. 4EEC@/ N. H. "lls!orth and -. #. "lls!orth, Marketing on the Internet =4EEQ@/ R. ". 3oone and D. R. Ourt., Contemporary Marketing =Eth ed. 4EEI@. $he noun marketing has : meanings& -eaning S4 Fhttp&GG!!!.ans!ers.comGtopicGselling'merchandising'marketingH& the e(change of goods for an agreed sum of money 0ynonyms& selling Fhttp&GG!!!.ans!ers.comGtopicGsellingH, merchandising Fhttp&GG!!!.ans!ers.comGtopicGmerchandisingH -eaning S5 Fhttp&GG!!!.ans!ers.comGtopicGmarketing'5H& the commercial processes involved in promoting and selling and distributing a product or service -eaning S: Fhttp&GG!!!.ans!ers.comGtopicGmarketing'4H& shopping at a market marketing Fhttp&GG!!!.ans!ers.comGmainG9ecord5,aTJ9UurlThttpD:AD58 D58commons.!ikimedia.orgD58!ikiD58ImageD:A-ergefrom.gifH Fhttp&GG!!!.ans!ers.comGmainG9ecord5,aTJ9UurlThttpD:AD58 D58commons.!ikimedia.orgD58!ikiD58ImageD:A-ergefrom.gifHIt has been suggested that Product marketing http!""###.ans#ers.com"topic"product$marketing% be merged into this article or section. =Discuss@ $he American -arketing Association suggests that 'Marketing is "an organi.ational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in !ays that benefit the organi.ation and its stakeholders."V4W Fhttp&GG!!!.marketingpo!er.comGmg'dictionary' vie!4IP5.phpH Another definition, perhaps simpler and more universal, is the process of moving people closer to making a decision to purchase or repurchase a company's products. 0imply, if it doesn't facilitate a "sale" then it's not marketing. V5W Fhttp&GG!!!.briannorris.comG!hatismarketing.htmlH)erhaps the simplest 1estern definition of all !as that summari.ed by )hilip Ootler in his earlier books as& "-arketing is human activity directed at satisfying needs and !ants through e(change processes." %n the other hand, hristian 7rXnroos, in the conte(t of a move to relationship marketing, summari.ed a rather different "uropean vie! in his definition& "-arketing is to establish, maintain and enhance long'term customer relationships at a profit, so that the ob+ectives

of the parties involved are met. $his is done by mutual e(change and fulfilment of promises." VV:W Fhttp&GGfutureobservatory.dyndns.orgGE2:C.htmHW Ho!ever, the most !idely accepted definition of marketing on a global scale comes from the hartered Institute of -arketing = I-@ V2W Fhttp&GG!!!.cim.co.ukGcimGinde(.cfmH in the AO !hich is the largest marketing body in the !orld in terms of membership. $he definition claims marketing to be the "management process of anticipating, identifying and satisfying customer re6uirements profitably". $hus, operative marketing involves the processes of market research Fhttp&GG!!!.ans!ers.comGtopicGmarketing'researchH, product development Fhttp&GG!!!.ans!ers.comGtopicGne!'product'developmentH, product life cycle management Fhttp&GG!!!.ans!ers.comGtopicGproduct'life'cycle' managementH, pricing Fhttp&GG!!!.ans!ers.comGtopicGpricing'5H, channel management as !ell as promotion Fhttp&GG!!!.ans!ers.comGtopicGself'promotionH. Ho!ever, marketing is more of a process'oriented cross function, not a direct decision maker in these processes. It is one of the company's management tools to ensure that products and services are developed according to market re6uirements, and that they are profitable. )rior to the advent of market research Fhttp&GG!!!.ans!ers.comGtopicGmarket'researchH, most companies !ere product'focused, employing teams of salespeople to push their products into or onto the market, regardless of market desire. A market'focused, or customer'focused Fhttp&GG!!!.ans!ers.comGtopicGmarketing'orientationH, organi.ation instead first determines !hat its potential customers desire, and then builds the product Fhttp&GG!!!.ans!ers.comGtopicGproduct'5CH or service Fhttp&GG!!!.ans!ers.comGtopicGserviceH. -arketing theory and practice is +ustified on the belief that customers Fhttp&GG!!!.ans!ers.comGtopicGcustomerH use a productGservice because they have a need, or because a productGservice has a perceived benefit. $!o ma+or aspects of marketing are the recruitment of ne! customers =ac6uisition@ and the retention and e(pansion of relationships !ith e(isting customers =base management@. An emerging area of study and practice concerns internal marketing Fhttp&GG!!!.ans!ers.comGtopicGinternal'marketingH, or ho! employees are trained and managed to deliver the brand Fhttp&GG!!!.ans!ers.comGtopicGbrand':H in a !ay that positively impacts the ac6uisition and retention of customers. %nce a marketer has converted the prospective buyer, base management marketing takes over. $he process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, and improving the productGservice continuously to protect her business from competitive encroachments. -arketing methods are informed by many of the social sciences Fhttp&GG!!!.ans!ers.comGtopicGsocial'sciencesH, particularly psychology Fhttp&GG!!!.ans!ers.comGtopicGpsychologyH, sociology Fhttp&GG!!!.ans!ers.comGtopicGsociologyH, and economics Fhttp&GG!!!.ans!ers.comGtopicGeconomicsH. Anthropology is also a small, but gro!ing, influence. -arket research underpins these activities. $hrough advertising Fhttp&GG!!!.ans!ers.comGtopicGadvertisingH, it is also related to many of the creative Fhttp&GG!!!.ans!ers.comGtopicGcreativityH arts.

"ypes of markets
$he !ord market Fhttp&GG!!!.ans!ers.comGtopicGmarketH originally meant the place !here the e(change bet!een seller and buyer took place. $oday !e speak of a market as either a region !here goods are sold and bought or particular types of buyers =summari.ed from 1ells, 3urnett, -oriarty, pg. PB'PP@. 1hen strategi.ing specialists in marketing comment about markets they are usually referring to the different groups of people andGor organi.ations. $he four ma+or market groups are 4@ consumer, 5@ business to business, :@ institutional, and 2@ reseller. 3randing refers to the sum total of your company's value'proposition& products, services, people, advertising, positioning, culture, and partner relationships.

Product& price& promotion& and placement

In popular usage, "marketing" is the promotion of products, especially advertising Fhttp&GG!!!.ans!ers.comGtopicGadvertisingH and branding Fhttp&GG!!!.ans!ers.comGtopicGbrand':H. Ho!ever, in professional usage the term has a !ider meaning that recogni.es that marketing is customer centered. )roducts are often developed to meet the desires of groups of customers or even, in some cases, for specific customers. -c arthy divided marketing into four general sets of activities. His typology has become so universally recogni.ed that his four activity sets, the 8our )s, have passed into the language. $he 8our )s are& Product 'http:(()))*ans)ers*com(topic(product+2,-& $he )roduct management Fhttp&GG!!!.ans!ers.comGtopicGproduct'managementH and )roduct marketing Fhttp&GG!!!.ans!ers.comGtopicGproduct'marketingH aspects of marketing deal !ith the specifications of the actual good or service, and ho! it relates to the end'user Fhttp&GG!!!.ans!ers.comGtopicGend'userH's needs and !ants. Pricing 'http:(()))*ans)ers*com(topic(pricing+2-& $his refers to the process of setting a price Fhttp&GG!!!.ans!ers.comGtopicGpriceH for a product, including discounts. Promotion 'http:(()))*ans)ers*com(topic(self+promotion-& $his includes advertising Fhttp&GG!!!.ans!ers.comGtopicGadvertisingH, sales promotion Fhttp&GG!!!.ans!ers.comGtopicGsales'promotion'5H, publicity Fhttp&GG!!!.ans!ers.comGtopicGpublicityH, and personal selling Fhttp&GG!!!.ans!ers.comGtopicGsalesH, and refers to the various methods of promoting the product, brand Fhttp&GG!!!.ans!ers.comGtopicGbrand':H, or company. Placement 'http:(()))*ans)ers*com(topic(placement- or distribution Fhttp&GG!!!.ans!ers.comGtopicGdistribution'businessH refers to ho! the product gets to the customer/ for e(ample, point of sale placement or retailing Fhttp&GG!!!.ans!ers.comGtopicGretailingH. $his fourth ) has also sometimes been called Place 'http:(()))*ans)ers*com(topic(place-, referring to L!hereM a product or service is sold, e.g. in !hich geographic region or industry, to !hich

segment =young adults, families, business people, !omen, men, etc.@. $hese four elements are often referred to as the marketing mi( Fhttp&GG!!!.ans!ers.comGtopicGmarketing'mi(H. A marketer can use these variables to craft a marketing plan Fhttp&GG!!!.ans!ers.comGtopicGmarketing'planH. $he four )s model is most useful !hen marketing lo! value consumer products. Industrial products, services Fhttp&GG!!!.ans!ers.comGtopicGserviceH, high value consumer products re6uire ad+ustments to this model. 0ervices marketing Fhttp&GG!!!.ans!ers.comGtopicGservices' marketingH must account for the uni6ue nature of services. Industrial or b5b Fhttp&GG!!!.ans!ers.comGtopicGb5bH marketing must account for the long term contractual agreements that are typical in supply chain Fhttp&GG!!!.ans!ers.comGtopicGsupply'chainH transactions. $he unicist approach to marketing integrates the four elements based on their ontology, linking the marketing process !ith the selling action. 9elationship marketing Fhttp&GG!!!.ans!ers.comGtopicGrelationship'marketingH attempts to do this by looking at marketing from a long term relationship perspective rather than individual transactions. As a counter to this, -organ, in '9iding the 1aves of hange'=Nossey'3ass, 4EII@, adds ")erhaps the most significant criticism of the 2 )s approach,!hich you should be a!are of, is that it unconsciously emphasi.es the inside''out vie! =looking from the company out!ards@, !hereas the essence of marketing should be the outside''in approach". "ven so, having made this important caveat, the 2 )s offer a memorable and 6uite !orkable guide to the ma+or categories of marketing activity, as !ell as a frame!ork !ithin !hich these can be used. VVBW Fhttp&GGfutureobservatory.dyndns.orgGE2:C.htmHW. !e%en P#s As !ell as the standard four )'s =)roduct Fhttp&GG!!!.ans!ers.comGtopicGproduct'5CH, )ricing Fhttp&GG!!!.ans!ers.comGtopicGpricing'5H, )romotion Fhttp&GG!!!.ans!ers.comGtopicGpromotionH and )lacement Fhttp&GG!!!.ans!ers.comGtopicGplacementH@, there are also sometimes considered an e(tra three, totalling seven and kno!n together as the e(tended marketing mi(. $hese are& People 'http:(()))*ans)ers*com(topic(people-& Any person coming into contact !ith customers can have an impact on overall satisfaction. 1hether as part of a supporting service Fhttp&GG!!!.ans!ers.comGtopicGserviceH to a product or involved in a total service, people are particularly important because, in the customers' eyes, they are generally inseperable from the total service. As a result of this, they must be appropriately trained Fhttp&GG!!!.ans!ers.comGtopicGtrainedH, !ell motivated Fhttp&GG!!!.ans!ers.comGtopicGmotivationH and the right type of person. Process 'http:(()))*ans)ers*com(topic(process-& $his is the processes involved in providing a service and the behaviour Fhttp&GG!!!.ans!ers.comGtopicGbehaviorH of people, !hich can be crucial to customer satisfaction Fhttp&GG!!!.ans!ers.comGtopicGcustomer'satisfactionH. Physical e%idence 'http:(()))*ans)ers*com(topic(physical+e%idence-& Anlike a product Fhttp&GG!!!.ans!ers.comGtopicGproduct'5CH, a service Fhttp&GG!!!.ans!ers.comGtopicGserviceH cannot be e(perienced before it is

delivered, !hich makes it intangible Fhttp&GG!!!.ans!ers.comGtopicGintangiblesH. $his therefore means that potential customers perceive greater risk !hen deciding !hether or not to use a service. $o reduce the feeling of risk, thus improving success, it is often vital to offer potential Fhttp&GG!!!.ans!ers.comGtopicGpotentialH customers the chance to see !hat a service !ould be like. $his is done by providing physical evidence Fhttp&GG!!!.ans!ers.comGtopicGphysical'evidenceH, such as case studies Fhttp&GG!!!.ans!ers.comGtopicGcase'studyH, or testimonials Fhttp&GG!!!.ans!ers.comGtopicGtestimonialH.

"echni.ue
8or a marketing plan to be successful, the mi( of the four "p's" must reflect the !ants and desires of the consumers Fhttp&GG!!!.ans!ers.comGtopicGconsumerH in the target market Fhttp&GG!!!.ans!ers.comGtopicGtarget'marketH. $rying to convince a market segment Fhttp&GG!!!.ans!ers.comGtopicGmarket'segmentH to buy something they don't !ant is e(tremely e(pensive and seldom successful. -arketers depend on marketing research Fhttp&GG!!!.ans!ers.comGtopicGmarketing'researchH, both formal and informal, to determine !hat consumers !ant and !hat they are !illing to pay for. -arketers hope that this process !ill give them a sustainable competitive advantage Fhttp&GG!!!.ans!ers.comGtopicGsustainable'competitive'advantageH. -arketing management Fhttp&GG!!!.ans!ers.comGtopicGmarketing'managementH is the practical application of this process. $he offer is also an important addition to the 2)'s theory. -ost companies today have a customer orientation Fhttp&GG!!!.ans!ers.comGtopicGmarketing'orientationH =also called customer focus@. $his implies that the company focuses its activities and products on customer needs. 7enerally there are t!o !ays of doing this& the customer'driven approach and the product innovation approach. In the consumer'driven approach, consumer !ants are the drivers of all strategic marketing decisions. Jo strategy is pursued until it passes the test of consumer research. "very aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. $he starting point is al!ays the consumer. $he rationale for this approach is that there is no point spending 9UD funds developing products that people !ill not buy. History attests to many products that !ere commercial failures in spite of being technological breakthroughs. $he ne/t big thing is a concept in marketing that refers to a product or idea that !ill allo! for a high amount of sales for that product and related products. -arketers believe that by finding or creating the ne(t big thing they !ill spark a cultural revolution that results in this sales increase. In a product innovation approach, the company pursues product innovation Fhttp&GG!!!.ans!ers.comGtopicGinnovationH, then tries to develop a market for the product. )roduct innovation drives the process and marketing research is conducted primarily to ensure that a profitable market segment=s@ e(ists for the innovation. $he rationale is that customers may not kno! !hat options !ill be available to them in the future so !e should not e(pect them to tell us !hat they !ill buy in the future. It is claimed that if $homas "dison Fhttp&GG!!!.ans!ers.comGtopicGthomas'edisonH

depended on marketing research he !ould have produced larger candles rather than inventing light bulbs. -any firms, such as research and development focused companies, successfully focus on product innovation. -any purists doubt !hether this is really a form of marketing orientation at all, because of the e( post status of consumer research. 0ome even 6uestion !hether it is marketing. Diffusion of innovations Fhttp&GG!!!.ans!ers.comGtopicGdiffusion'of'innovationsH research e(plores ho! and !hy people adopt ne! products, services and ideas. A relatively ne! form of marketing uses the Internet Fhttp&GG!!!.ans!ers.comGtopicGinternetH and is called internet marketing or more generally e'marketing Fhttp&GG!!!.ans!ers.comGtopicGe'marketingH, affiliate marketing Fhttp&GG!!!.ans!ers.comGtopicGaffiliate'marketingH or online marketing Fhttp&GG!!!.ans!ers.comGtopicGonline'marketingH. It typically tries to perfect the segmentation strategy Fhttp&GG!!!.ans!ers.comGtopicGmarket'segmentH used in traditional marketing. It targets its audience more precisely, and is sometimes called personali.ed marketing Fhttp&GG!!!.ans!ers.comGtopicGpersonali.ed'marketingH or one+ to+one marketing.

0riticism of marketing
0ome aspects of marketing, especially promotion Fhttp&GG!!!.ans!ers.comGtopicGself' promotionH, are the sub+ect of criticism. It is especially problematic in classical economic theory, !hich is based on the assumtion that supply and demand are independent. Ho!ever, product promotion is an attempt coming from the supply side to infuelnce demand. In this !ay producer market po!er is attained as measured by profits that !ould not be reali.ed under a free market. $hen the argument follo!s that non'free markets are imperfect and lead to production and consumption of suboptimal amounts of the product. $o some critics, the ability of marketers to alter consumer behavior is po!erful and frightening. ritics ackno!ledge that marketing has legitimate uses in connecting goods and services to the consumers !ho !ant them. ritics also point out that marketing techni6ues have been used to achieve morally dubious ends by businesses, governments and criminals. ritics see a systemic social evil inherent in marketing =see &o 'ogo http!""###.ans#ers.com"topic"no$logo%, 3ill Hicks Fhttp&GG!!!.ans!ers.comGtopicGbill'hicksH, or -ar(ism Fhttp&GG!!!.ans!ers.comGtopicGmar(ismH@. -arketing is accused of creating ruthless e(ploitation of both consumers and !orkers by treating people as commodities !hose purpose is to consume. -ost marketers believe that marketing, like any other technology, is amoral. It can be used for good or evil purposes, but the marketing ommon misspelling=s@ of marketing marketting "ranslations for: -arketing Dansk =Danish@ n. ' marketing, handel, kYb, afsZtning

Jederlands =Dutch@ marketing, markthandel 8ran[ais =8rench@ n. ' marketing, mercati6ue, service de marketing Deutsch =7erman@ n. ' -arketing \]]^_`ab =7reek@ n. ' =c`ac_.@ defagh`_ia, jicfj]cikj Italiano =Italian@ marketing )ortuguls =)ortuguese@ n. ' marketing =m@ mnoopqr =9ussian@ stupvwqxy, wzuyz{|}, ~uvsvw wzuyz{|q "spaol =0panish@ n. ' mercadeo, comerciali.acin 0venska =0!edish@ n. ' marknadsfXring, torghandel, marknadsvaror = Arabic@ )( = Hebre!@ n. ' ,