what is marketing?

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what is marketing?

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Asked 9/26/2008 8:46:11 AM

Updated 6/28/2015 12:04:00 PM

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Flagged by emdjay23 [6/28/2015 12:03:57 PM]

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User: what is marketing?

Weegy: Services marketing is the marketing of processes deeds and performances, i.e. any thing which is essentially intangigble in nature. This criteria of intangibility also differentiates goods from services and underlines the importance of marketing of [ services to be managed in a different manner as compared to marketing of products. The services marketing process is also different because services are more heterogenous in nature; again, as compared to products which are more standardized in nature. Another important differences between goods and services is that services have to be produced and consumed simultaneously and cannot be stored (inventorized) for future consumption because of their perishable nature. Thus, the services marketing is marketing of services while appriciating these differences and adding additional elements in the traditioin marketing mix i.e. the four Ps: product, promotion, pricing and place (distribution). The expanded marketing mix for services includes: People (all human actors who play a part in service delivery and thus influence the buyer's perceptions), Physical Evidence (the environment in which the service is delivered and where the firm and customer interact, and any tangible components that facilitate performance or communication of services), and Process (The actual procedures, mechanisms, and flow of activities by which service is delivered i.e. the service delivery and operating systems). ]

User: what is segmentation?

Weegy: Market Segmentation Jerry W. Thomas When the term “market segmentation” is used, most of us immediately think of psychographics, lifestyles, values, behaviors, and multivariate cluster analysis routines. [ Market segmentation is a much broader concept, however, and pervades the practice of business throughout the world. What is market segmentation? At its most basic level, the term “market segmentation” refers to subdividing a market along some commonality, similarity, or kinship. That is, the members of a market segment share something in common. The purpose of segmentation is the concentration of marketing energy and force on the subdivision (or the market segment) to gain a competitive advantage within the segment. It’s analogous to the military principle of “concentration of force” to overwhelm an enemy. Concentration of marketing energy (or force) is the essence of all marketing strategy, and market segmentation is the conceptual tool to help achieve this focus. Before discussing psychographic or lifestyle segmentation (which is what most of us mean when using the term “segmentation”), let’s review other types of market segmentation. Our focus is on consumer markets rather than business markets. Geographic Segmentation This is perhaps the most common form of market segmentation, wherein companies segment the market by attacking a restricted geographic area. For example, corporations may choose to market their brands in certain countries, but not in others. A brand could be sold only in one market, one state, or one region of the United States. Many restaurant chains focus on a limited geographic area to achieve concentration of force. Regional differences in consumer preferences exist, and this often provides a basis for geographic specialization. For example, a company might choose to market its redeye gravy only in the southeastern U.S. Likewise, a picante sauce might concentrate its distribution and advertising in the southwest. A chainsaw company might only market its products in areas with forests. ]

Question

Asked 9/26/2008 8:46:11 AM

Updated 6/28/2015 12:04:00 PM

2 Answers/Comments

This conversation has been flagged as incorrect.

Flagged by emdjay23 [6/28/2015 12:03:57 PM]

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emdjay23

Marketing is communicating the value of a product, service or brand to customers, for the purpose of promoting or selling that product, service, or brand.

Added 6/28/2015 12:03:55 PM

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emdjay23

Segmentation involves finding out what kinds of consumers with different needs exist.

Added 6/28/2015 12:04:00 PM

This answer has been confirmed as correct and helpful.

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