The Indian Economist Marketing Learning Module 1

Basic Principles of Marketing

Marketing deals with identifying and meeting human and social needs. One of the shortest definitions
of marketing is “meeting needs profitably.”

What are the three stages of Marketing?

1. Entrepreneurial marketing: Most companies are started by individuals who visualize an

opportunity and knock on every door to gain attention. Jim Koch, founder of Boston Beer
Company, whose Samuel Adams beer has become a top-selling “craft” beer, started out in 1984
carrying bottles of Samuel Adams from bar to bar to persuade bartenders to carry it. For 10
years, he sold his beer through direct selling and grassroots public relations. Today his
business pulls in nearly $200 million, making it the leader in the U.S. craft beer market.

2. Formulated marketing​: As small companies achieve success, they inevitably move toward
more formulated marketing. Boston Beer recently began a $15 million television advertising
campaign. The company now employs more that 175 salespeople and has a marketing
department that carries on market research, adopting some of the tools used in professionally
run marketing companies.

3. Intrepreneurial marketing​: Many large companies get stuck in formulated marketing, poring
over the latest ratings, scanning research reports, trying to fine-tune dealer relations and
advertising messages. These companies lack the creativity and passion of the guerrilla

The Indian Economist Marketing Learning Module 1

 marketers in the entrepreneurial stage.3 Their brand and product managers need to start living

with their customers and visualizing new ways to add value to their customers’ lives.

What are the Scopes of Marketing?

Marketing associates are involved in marketing 10 types of entities:

1. Goods: Particularly food, commodities, clothing, and housing—are the mainstay of the
economy.

2. Services: ​As economies advance, a growing proportion of their activities are focused on the
production of services. The U.S. economy today consists of a 70–30 services-to-goods mix.
Services include airlines, hotels, and maintenance and repair people, as well as professionals
such as accountants, lawyers, engineers, and doctors. Many market offerings consist of a
variable mix of goods and services.
 3. Experiences: By orchestrating several services and goods, one can create, stage, and market
experiences. Walt Disney World’s Magic Kingdom is an experience; so is the Hard Rock Cafe.

4. Events: Marketers promote time-based events, such as the Olympics, trade shows, sports
events, and artistic performances.

5. Persons: Celebrity marketing has become a major business. Artists, musicians, CEOs,
physicians, high-profile lawyers and financiers, and other professionals draw help from
celebrity marketers.

6. Places: Cities, states, regions, and nations compete to attract tourists, factories, company
headquarters, and new residents. Place marketers include economic development specialists,
real estate agents, commercial banks, local business associations, and advertising and public
relations agencies.

7. Properties: ​Properties are intangible rights of ownership of either real property (real estate) or
financial property (stocks and bonds). Properties are bought and sold, and this occasions a
marketing effort by real estate agents (for real estate) and investment companies and banks
(for securities).

8. Organizations: ​Organizations actively work to build a strong, favorable image in the mind of
their publics. Philips, the Dutch electronics company, advertises with the tag line, “Let’s Make
Things Better.” The Body Shop and Ben & Jerry’s also gain attention by promoting social
causes. Universities, museums, and performing arts organizations boost their public images to
compete more successfully for audiences and funds.

9. Information: The production, packaging, and distribution of information is one of society’s

major industries.6 Among the marketers of information are schools and universities; publishers
of encyclopedias, nonfiction books, and specialized magazines; makers of CDs; and Internet
Web sites.

10. Ideas: Every market offering has a basic idea at its core. In essence, products and services are
platforms for delivering some idea or benefit to satisfy a core need.

A Broadened View of Marketing Tasks

Marketers are skilled in stimulating demand for their products. However, this is too limited a view of
the tasks that marketers perform. Just as production and logistics professionals are responsible for
supply management, marketers are responsible for demand management. They may have to manage
negative demand (avoidance of a product), no demand (lack of awareness or interest in a product),
latent demand (a strong need that cannot be satisfied by existing products), declining demand (lower
demand), irregular demand (demand varying by season, day, or hour), full demand (a satisfying level of
demand), overfull demand (more demand than can be handled), or unwholesome demand (demand for
unhealthy or dangerous products). To meet the organization’s objectives, marketing managers seek to
influence the level, timing, and composition of these various demand states.

The Decisions That Marketers Make

Marketing managers face a host of decisions in handling marketing tasks. These range from major
decisions such as what product features to design into a new product, how many salespeople to hire,
or how much to spend on advertising, to minor decisions such as the wording or color for new
packaging. Among the questions that marketers ask (and will be addressed in this text) are: How can
we spot and choose the right market segment(s)? How can we differentiate our offering? How should
we respond to customers who press for a lower price? How can we compete against lower-cost,
lower-price rivals? How far can we go in customizing our offering for each customer? How can we grow
our business? How can we build stronger brands? How can we reduce the cost of customer acquisition
and keep customers loyal? How can we tell which customers are more important? How can we
measure the payback from marketing communications? How can we improve sales-force productivity?
How can we manage channel conflict? How can we get other departments to be more
customer-oriented?

Marketing Concepts and Tools

Marketing boasts a rich array of concepts and tools to help marketers address the decisions they must
make. We will start by defining marketing and then describing its major concepts and tools. Defining
Marketing We can distinguish between a social and a managerial definition for marketing. According to
a social definition, marketing is a societal process by which individuals and groups obtain what they
need and want through creating, offering, and exchanging products and services of value freely with
others. As a managerial definition, marketing has often been described as “the art of selling products.”
But Peter Drucker, a leading management theorist, says that “the aim of marketing is to make selling
superfluous. The aim of marketing is to know and understand the customer so well that the product or
service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy.” The
American Marketing Association offers this managerial definition: Marketing (management) is the
process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods,
and services to create exchange.

Target Markets and Segmentation

A marketer can rarely satisfy everyone in a market. Not everyone likes the same soft drink, automobile,
college, and movie. Therefore, marketers start with market segmentation. They identify and profile
distinct groups of buyers who might prefer or require varying products and marketing mixes. Market
segments can be identified by examining demographic, psychographic, and behavioral differences
among buyers. The firm then decides which segments present the greatest opportunity—those whose
needs the firm can meet in a superior fashion. For each chosen target market, the firm develops a
market offering. The offering is positioned in the minds of the target buyers as delivering some central
benefit(s). For example, Volvo develops its cars for the target market of buyers for whom automobile
safety is a major concern. Volvo, therefore, positions its car as the safest a customer can buy.
Traditionally, a “market” was a physical place where buyers and sellers gathered to exchange goods.
Now marketers view the sellers as the industry and the buyers as the market. The sellers send goods
and services and communications (ads, direct mail, e-mail messages) to the market; in return they
receive money and information (attitudes, sales data).
Today we can distinguish between a marketplace and a marketspace. The marketplace is physical, as
when one goes shopping in a store; marketspace is digital, as when one goes shopping on the Internet.
E-commerce—business transactions conducted online—has many advantages for both consumers
and businesses, including convenience, savings, selection, personalization, and information. For
example, online shopping is so convenient that 30 percent of the orders generated by the Web site of
REI, a recreational equipment retailer, is logged from 10 P.M. to 7 A.M., sparing REI the expense of
keeping its stores open late or hiring customer service representatives. However, the e-commerce
marketspace is also bringing pressure from consumers for lower prices and is threatening
intermediaries such as travel agents, stockbrokers, insurance agents, and traditional retailers. To
succeed in the online market-space, marketers will need to reorganize and redefine themselves.

Marketers and Prospects

Another core concept is the distinction between marketers and prospects. A marketer is someone who
is seeking a response (attention, a purchase, a vote, a donation) from another party, called the
prospect. If two parties are seeking to sell something to each other, both are marketers.

Needs, Wants, and Demands

The successful marketer will try to understand the target market’s needs, wants, and demands. Needs
describe basic human requirements such as food, air, water, clothing, and shelter. People also have
strong needs for recreation, education, and entertainment. These needs become wants when they are
directed to specific objects that might satisfy the need. An American needs food but wants a
hamburger, French fries, and a soft drink. A person in Mauritius needs food but wants a mango, rice,
lentils, and beans. Clearly, wants are shaped by one’s society. Demands are wants for specific products
backed by an ability to pay. Many people want a Mercedes; only a few are able and willing to buy one.
Companies must measure not only how many people want their product, but also how many would
actually be willing and able to buy it. However, marketers do not create needs: Needs preexist
marketers. Marketers, along with other societal influences, influence wants. Marketers might promote
the idea that a Mercedes would satisfy a person’s need for social status. They do not, however, create
the need for social status. Product or Offering People satisfy their needs and wants with products.

A product is any offering that can satisfy a need or want, such as one of the 10 basic offerings of goods,
services, experiences, events, persons, places, properties, organizations, information, and ideas. A
brand is an offering from a known source. A brand name such as McDonald’s carries many associations
in the minds of people: hamburgers, fun, children, fast food, golden arches. These associations make up
the brand image. All companies strive to build a strong, favorable brand image.

Value and Satisfaction

In terms of marketing, the product or offering will be successful if it delivers value and satisfaction to
the target buyer. The buyer chooses between different offerings on the basis of which is perceived to
deliver the most value.

Value Benefits: Functional benefits emotional benefits Costs Monetary costs time costs energy costs
psychic costs ​Based on this equation, the marketer can increase the value of the customer offering by
(1) raising benefits, (2) reducing costs, (3) raising benefits and reducing costs, (4) raising benefits by
more than the raise in costs, or (5) lowering benefits by less than the reduction in costs. A customer
choosing between two value offerings, V1 and V2, will examine the ratio V1/V2. She will favor V1 if the
ratio is larger than one; she will favor V2 if the ratio is smaller than one; and she will be indifferent if
the ratio equals one.

Exchange and Transactions

Exchange, the core of marketing, involves obtaining a desired product from someone by offering
something in return. For exchange potential to exist, five conditions must be satisfied:
● There are at least two parties.
● Each party has something that might be of value to the other party.
● Each party is capable of communication and delivery.
● Each party is free to accept or reject the exchange offer.
● Each party believes it is appropriate or desirable to deal with the other party.

Whether exchange actually takes place depends upon whether the two parties can agree on terms that
will leave them both better off (or at least not worse off) than before. Exchange is a value-creating
process because it normally leaves both parties better off.
Marketing Channels

To reach a target market, the marketer uses three kinds of marketing channels. Communication
channels deliver messages to and receive messages from target buyers. They include newspapers,
magazines, radio, television, mail, telephone, billboards, posters, fliers, CDs, audiotapes, and the
Internet. Beyond these, communications are conveyed by facial expressions and clothing, the look of
retail stores, and many other media. Marketers are increasingly adding dialogue channels (e-mail and
toll-free numbers) to counterbalance the more normal monologue channels (such as ads). The marketer
uses distribution channels to display or deliver the physical product or service(s) to the buyer or user.
There are physical distribution channels and service distribution channels, which include warehouses,
transportation vehicles, and various trade channels such as distributors, wholesalers, and retailers. The
marketer also uses selling channels to effect transactions with potential buyers. Selling channels
include not only the distributors and retailers but also the banks and insurance companies that
facilitate transactions. Marketers clearly face a design problem in choosing the best mix of
communication, distribution, and selling channels for their offerings.
Supply Chain

Whereas marketing channels connect the marketer to the target buyers, the supply chain describes a
longer channel stretching from raw materials to components to final products that are carried to final
buyers. For example, the supply chain for women’s purses starts with hides, tanning operations, cutting
operations, manufacturing, and the marketing channels that bring products to customers. This supply
chain represents a value delivery system. Each company captures only a certain percentage of the total
value generated by the supply chain. When a company acquires competitors or moves upstream or
downstream, its aim is to capture a higher percentage of supply chain value.

Competition

Competition, a critical factor in marketing management, includes all of the actual and potential rival
offerings and substitutes that a buyer might consider. Suppose an automobile company is planning to
buy steel for its cars. The car manufacturer can buy from U.S. Steel or other U.S. or foreign integrated
steel mills; can go to a minimill such as Nucor to buy steel at a cost savings; can buy aluminum for
certain parts of the car to lighten the car’s weight; or can buy some engineered plastics parts instead of
steel.

Marketing Environment

Competition represents only one force in the environment in which all marketers operate. The overall
marketing environment consists of the task environment and the broad environment. The task
environment includes the immediate actors involved in producing, distributing, and promoting the
offering, including the company, suppliers, distributors, dealers, and the target customers. Material
suppliers and service suppliers such as marketing research agencies, advertising agencies, Web site
designers, banking and insurance companies, and transportation and telecommunications companies
are included in the supplier group. Agents, brokers, manufacturer representatives, and others who
facilitate finding and selling to customers are included with distributors and dealers.

Marketing Mix

Marketers use numerous tools to elicit the desired responses from their target markets. These tools
constitute a marketing mix:12 Marketing mix is the set of marketing tools that the firm uses to pursue
its marketing objectives in the target market. McCarthy classified these tools into four broad groups
that he called the four Ps of marketing: product, price, place, and promotion.
Browse through these online sources for a better insight:

● Modern Age Marketing

● 4 P's of Marketing

● Create, Share, Profit

● Create, Communicate & Deliver (CCDVTP Theory)

● Everything boils down to Customer Insights:

a. Malcolm Gladwell & Spaghetti Sauce
b. A naukri.com study

● P2P Marketing - The Science of Persuasion

 Importance of Marketing Mix

A marketing mix is important in business because it maximizes a company's chances of achieving

steady, continual success in its operations. A marketing mix also ensures that a company remains
responsible to its customers by living up to its product claims.
The marketing mix is an integral tool in building an effective marketing strategy and implementing it
with tactics. Also known as the 4 P's of marketing, the mix includes an assessment of the roles your
product, place or distribution, price and promotion play in your overall approach to marketing.

Offering
Part of marketing is conveying to customers what you have to offer and why it is different and better
than alternatives. The product element is most obvious in the offering, since your product is what
people buy. Where you offer it, whether in-store or online, also is important, making the distribution
element a factor. The price point is part of the overall offering, because it affects your product's value.

The Target
When you market, you also have to strategize about who to target with your messages. Your primary
customer group becomes the target customers of your marketing campaign. Your product and price
offer some direction in identifying the right audience. For instance, cutting-edge mobile technology ads
often are targeted to young consumers. Identifying the media used by these customers is also
important, which brings the "promotion" P into play.

Message Delivery
Tangibly, the promotion P addresses the actual process of creating and distributing messages about
your brand and products. Under the promotion umbrella, you have to decide what messages and
formats to use to persuade your target customers to buy. Humor, sexuality, fear and anxiety are all
used to present emotional appeals in marketing. Selecting the right media within television, radio,
newspapers, magazines, the Internet, billboards and other support media is another critical part of
successful promotion.

Value Creation
In a general sense, the marketing mix allows you to understand how to build and sell value to your
customers. Ultimately, customers buy what they perceive is the best value for their money in a purchase
situation. Implementing marketing campaigns that show off great products at fair prices gives you an
opportunity to succeed. Finding affordable marketing options also helps you get better return on your
investment from marketing
 Best Business to Consumer marketing
strategies

Cause Marketing

Cause marketing is a cooperative effort between a for-profit business and a non-profit organization to
mutually promote and benefit from social and other charitable causes. Cause marketing is not to be
confused with corporate giving, which is tied to specific tax-deductible donations made by an
organization. Cause marketing relationships are “feel goods,” and assure your customers you share
their desire to make the world a better place.
Fast Fact: 64% of consumers want corporations to integrate social impact directly into their business
models.

Direct Selling

Direct selling accomplishes exactly what the name suggests – marketing and selling products directly
to consumers. In this model, sales agents build face-to-face relationships with individuals by
demonstrating and selling products away from retail settings, usually in an individual’s home. The top
three direct sellers in 2015 are Amway, Avon and Herbalife.
Fast Fact: The top 3 direct-sell companies averaged $9 billion in sales in 2015.

Co-branding and Affinity Marketing

Co-branding is a marketing methodology in which at least two brands join together to promote and
sell a single product or service. The brands lend their collective credibility to increase the perception of
the product or service’s value, so consumers are willing to pay more at retail. Secondarily, co-branding
may dissuade private label manufacturers from copying the product or service.
Fast Fact: In 2014, 6% of all product launches relied on co-branding.

Earned Media/PR

Earned media (or “free media”) is publicity that is created through efforts other than paid advertising. It
can take a variety of forms – a social media testimonial, word of mouth, a television or radio mention, a
newspaper article or editorial – but one thing is constant: earned media is unsolicited and can only be
gained organically. It cannot be bought or owned like traditional advertising.
Fast Fact: Nearly 75% of consumers identify earned media as a key influencer in purchase decisions.
Point-of-Purchase Marketing (POP)

Point-of-Purchase marketing (or, POP marketing) sells to a captive audience – those shoppers already
in-store and ready to purchase. Product displays, on-package coupons, shelf talkers that tout product
benefits and other attention-getting “sizzle” often sways buying decisions at the shelf by making an
offer simply too good – and too visible – to pass up.
Fast Fact: 64% of consumers making unplanned purchases switch brands when a deal is offered
in-store.

Internet Marketing

Internet marketing, or online marketing, combines web and email to advertise and drive e-commerce
sales. Social media platforms may also be included to leverage brand presence and promote products
and services. In total, these efforts are typically used in conjunction with traditional advertising formats
like radio, television and print.
Fast Fact: 97% of consumers search for businesses online.

Paid Media Advertising

Paid media is a tool that companies use to grow their website traffic through paid advertising. One of
the most popular methods is pay-per-click (PPC) links. Essentially, a company buys or “sponsors” a link
that appears as an ad in search engine results when keywords related to their product or service are
searched (this process is commonly known as search engine marketing, or SEM). Every time the ad is
clicked, the company pays the search engine (or other third party host site) a small fee for the visitor –
a literal “pay per click.”
Fast Fact: 76% of businesses use promoted posts and search engine marketing.

Word of Mouth Advertising

Word of mouth advertising is unpaid, organic and oh-so-powerful because those having nice things to
say about your product or service generally have nothing to gain from it other than sharing good news.
A recommendation from a friend, colleague or family member has built-in credibility, and can spur
dozens of leads who anticipate positive experiences with your brand. It’s important to note that word
of mouth isn’t strictly verbal. Leveraging online reviews and opinions are equally effective at spreading
the word.
Fast Fact: Word of mouth referrals drive $6 trillion in annual consumer spending.
Social Networks and Viral Marketing

Social media marketing focuses on providing users with content they find valuable and want to share
across their social networks, resulting in increased visibility and traffic. Social media shares of content,
videos and images also influence Search Engine Optimization (SEO) efforts in that they often increase
relevancy in search results within social media networks like Facebook, Twitter, YouTube and
Instagram and search engines like Google and Yahoo.
Fast Fact: 54% of B2C companies report revenue generated from social media leads.

Storytelling

Brand storytelling uses a familiar communication format to engage consumers at an emotional level.
Rather than just spew facts and figures, storytelling allows you to weave a memorable tale of who your
company is, what you do, how you solve problems, want you value and how you engage and contribute
to your community and the public in general.
Fast Fact: Brands that inspire a higher emotional intensity influence consumer purchase intent 3 times
more often than less emotionally connected brands.

Every Strategy Requires an Effective Marketing Plan. Regardless of the strategy you choose, marketing
effectiveness is most dependent on how you execute.

What is Marketing?

Marketing consists of all the activities of individuals and

organizations designed to identify, anticipate, and mutually
satisfy the needs of all parties involved in the exchange.

Marketing cannot take place unless some sort of exchange occurs. One party must exchange a product
or service with another party for some form of payment. This is the exchange process and is the central
focus for all marketing activities.

Marketing Utilities

Four marketing utilities, which are the capacities of the product offering to satisfy the needs of a
customer, are enhanced when the exchange occurs. These include:

Form Utility - The product is produced, or modified for the customer. An example of this might be a car
manufacturer designing their car so that a driver will be able to plug in his I-pod or other devices.
Time Utility - The consumer's ability to buy the product when he or she wants to buy the product. A
grocer may store certain amounts of certain foods until the prime season they are bought. It is ensuring
customers will have access to the food when they most desire them.

Place Utility - This describes when a consumer is able to buy the product at a location that is
convenient to him or her. The best example of this is online sales. Home is the most convenient
location for a consumer.

Possession Utility - Ownership of the product is transferred from the marketer to the buyer. An
example is a getting a loan and then buying a car. This is concerned with the ease of transferability for
the consumer.
 The Marketing Management Concepts

There are four marketing management concepts that companies will utilize in their marketing
objectives. All of these aim to achieve profits and objectives, but the focus and means by which they do
so will differ. They will typically follow one of these four major concepts:

Product Concept ​- This management orientation says that if you build a quality product and set a
reasonable price, very little marketing effort is needed to sell it. The product generates the demand
"build it, and they will come"

Selling Concept ​- This management orientation says that consumers will not normally buy enough of a
product unless it is aggressively PROMOTED to them.

Marketing Concept ​- This management orientation says the major purpose of an organization is to
identify consumer needs and then adapt the organization in a way that will satisfy the customers needs
more effectively and efficiently than competition. (i.e. Chain restaurants may alter their menu in
different countries)

Societal Concept - This management orientation focuses on satisfying consumers needs and
demonstrating long run concern for societal welfare in order to achieve company objectives and attend
to its responsibilities for society. The idea is to find a balance between social welfare,consumer needs,
and company profits.
Traditional vs. Integrated Marketing

To understand the fundamentals of marketing, it is important to understand two different approaches

used when a company chooses to introduce a new product. Here we see traditional and integrated
marketing.

There are typically 5 different departments directly involved with the product during creation and
launch: ​Development, Engineering, Production, Marketing, and Distribution.

If a company opts to use a traditional approach, all of these departments work as separate entities. For
example, development will draw up a product and then pass it along to engineering to create it.
Engineering will then pass it along to production mass produce it. They will afterwards pass it to
marketing, who will eventually move the product to distribution for a product launch.

If a firm opts to utilize an integrated marketing approach, all of the departments work together as a
single unit. Engineering will not begin a product without ensuring that production has the capabilities
to produce it. Development will check with marketing to ensure the product is line with the company
image and approach. Basically, every department will at some point integrate their work with all other
departments in the process.

Clearly, integrated marketing is the better approach. While it may take longer to launch a product, the
likelihood of success is greater. The traditional approach leaves much room for interdepartmental
conflicting interest and is therefore regarded as an outdated approach in marketing. It all too often
ignores the consumers needs. The integrated marketing approach helps a business work collectively as
one unit.

Perceived Value and Satisfaction

A customer’s perceived value is equal to the benefits derived divided by the costs.

Value = Benefits/Costs

Further, benefits can include functional and emotional benefits. Costs may include monetary costs,
time costs, energy costs, and psychic costs.

Value = Functional benefits + emotional benefits / monetary cost + time

cost + energy cost + psychic costs
Satisfaction is a person's feelings of pleasure or disappointment resulting from comparing a product's
performance in relation to the person's expectations of performance.

Most expectations are derived from past buying experiences, friends, the marketer, peers, competitors,
and promises of performance.

It is also important to keep in mind that a person is twice as likely to tell others about a negative
product or experience than they are about a good product or positive experience. Dissatisfied
customers can also have a negative impact on employee morale.

How Marketing is So Misunderstood

Far too often, organizations try to develop a product to meet customers’ needs without ever really
verifying what the customers wanted in the first place. Instead, those organizations make a strenuous
effort to “sell” the product through rigorous, ongoing advertising, promotions and publicity -- through
"outbound" marketing. These organizations may have built a beautiful ladder – but it may be entirely
on the wrong roof! Far too often, that lesson comes from painful experience.
Experienced organizations have learned that it is not their opinion that matters most regarding
whether their product is needed or not. The opinion that matters most is that of the customers. These
organizations have learned that they might not know what they don't know about their customers. That
precious knowledge about the customers comes from "inbound" marketing -- through market research
to clarify customers' needs and what they are willing to do to get those needs met. If the inbound
marketing is done well, the outbound marketing is particularly easy -- and effective.

Inbound Marketing Includes Market Research to Find Out:

1. What specific groups of potential customers/clients (markets) might have which specific needs
(nonprofits often already have a very clear community need in mind when starting out with a
new program -- however, the emerging practice of nonprofit business development, or earned
income development, often starts by researching a broad group of clients to identify new
opportunities for programs)
2. How those needs might be met for each group (or target market), which suggests how a
product might be designed to meet the need (nonprofits might think in terms of outcomes, or
changes, to accomplish among the groups of clients in order to meet the needs)
3. How each of the target markets might choose to access the product, etc. (its "packaging")
4. How much the customers/clients might be willing pay and how (pricing analysis)
5. Who the competitors are (competitor analysis)
6. How to design and describe the product such that customers/clients will buy from the
organization, rather than from its competitors (its unique value proposition)
7. How the product should be identified -- its personality -- to be most identifiable (its naming
and branding)
Outbound Marketing Includes:
1. Advertising and promotions (focused on the product)
2. Sales
3. Public and media relations (focused on the entire organization)
4. Customer service
5. Customer satisfaction