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from the analyses of markets and consumers, to the


advertising and selling of products. If you look at successful

businesses like Virgin, Apple and Coca-Cola, they all have one

The definition of Marketing

thing in common a successful, dynamic marketing team. In a

Marketing are activities of a company associated with buying

world where social media and relationships with customers are

and selling a product or service. It includes advertising, selling

becoming increasingly important, so too is the role of a well-

and delivering products to people. People who work in

rounded marketer.

marketing departments of companies try to get the attention of

target audiences by using slogans, packaging design,

What is tangible?

celebrity endorsements and general media exposure.

Tangible assets are physical assets such as land, vehicles,

equipment, machinery, furniture, inventory, stock, bonds and

What is marketing mix?

cash. These assets are the backbone of a company that keep

"Marketing mix" is a general phrase used to describe the

it in production but are not available to customers. Tangible

different kinds of choices organizations have to make in the

assets are at risk of damage either from naturally occurring

whole process of bringing a product or service to market. The

incidents, theft or accidents.

4Ps is one way probably the best-known way of defining

the marketing mix, and was first expressed in 1960 by E J

The two types of tangible assets are current and fixed. Current


assets are inventory, or items a company turns into cash

usually by the end of the year. These assets can be used as

What are the 4 ps of marketing?

liquidation to save a company from debt problems or as

The management process through which goods and

financial aid. Fixed assets are physical items that will not be

services move from concept to the customer. It includes

sold at any point in the business. These assets include

the coordination of four elements called the 4 P's of marketing:

machinery, equipment, vehicles or land, and they are needed

(1) identification, selection and development of a product,

to run the business continually.

(2) determination of its price,

(3) selection of a distribution

What is intangible

channel to reach the customer's place, and

intangible assets are nonphysical, such as patents,

(4) development and implementation of a promotional strategy.

trademarks, franchises, goodwill and copyrights. Depending on

the type of business, intangible assets may include Internet

Why do we need to study Marketing?

domain names, performance events, licensing agreements,

Marketing is considered the heart and soul of most businesses,

service contracts, computer software, blueprints, manuscripts,

since nearly every type of business or industry utilizes

joint ventures, medical records, permits and trade secrets.

marketing professionals in some way. This is probably because

Intangible assets add to a company's possible future worth and

the success of a business is directly impacted by marketers

can be much more valuable than its tangible assets.