Marketing is an organizational function and is the sum of a series of processes that focus on planning, creating, and communicating, value to consumers. Its foundational principle is to encourage and facilitate exchange of goods or services for money by building positive customer relationships.
The concept of exchange is only made possible by the existence of at least two parties, and each has something to offer which is of potential value to the other party. Such exchange can only take place if an avenue for communication between the two parties exists, and a platform upon which to conduct the exchange.
|Avenue for communication||Platform to conduct exchange|
|Advertising, product announcements, brand promotion||Apple stores, Apple website, selling through affiliates, phone ordering|
The challenge for marketers is that they need to be able to identify the goods or services that hold the highest value for potential consumers and provide those goods or services at the best price, at the best time, at the best place, by applying the right promotion techniques.
The marketing mix is a blend of produce, pricing, promotion and place, strategies developed to serve the needs of a predetermined and specific target market.