What is marketing: Three perspectives

What is marketing: Three perspectives

Lesson Details:
July 30, 2020

I: Introduction

A: Make money with affiliate marketing

Affiliate marketing is a form of internet marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts. It is a structured, transitive partnership in which a business rewards a network of affiliates for each visitor or customer brought by the affiliate’s own marketing efforts. The industry has been rapidly growing and is now worth billions of dollars.

II: Body

A: What is marketing: three perspectives

There are three definitions of marketing. The first one is a set of activities that a company undertakes in order to plan and execute the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges with customers and clients. The second is a set of processes used by an organization to meet and keep the needs of its customers and clients. The third is the study of human behaviour as it relates to interactions with organizations, including consumers. The first definition focuses on the “what”, the second on the “how” and the third on the “why”. The first definition was the first formal definition used by marketers to help organize their thoughts. There are two ways to perform marketing. One way is through external inputs such as product development, advertising and public relations. The other way is through internal inputs such as pricing, distribution, operations and customer service.

B: Marketing strategies

Marketing strategies can be divided into two categories: Product strategies and price strategies. Product strategies include new-product development; market segmentation (segmenting market based on consumer demographics, geographic location, etc.); customer relationship management (CRM), which manages the relationship between consumer and firm; product life cycle (the stages that products go through from introduction to growth, maturity, and decline); product positioning (placing products in the mind of consumers); and brand management (managing brands by considering factors such as loyalty). Price strategies include cost leadership (offering the lowest possible price to target mass markets), differentiation (offering unique value to target niche markets).

III: Conclusion

Affiliate marketing can be an effective strategy if you follow these steps:

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