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Marketing refers to activities a company undertakes to promote the buying or selling of a product, service, or good. It is one of the primary components of business management and commerce. The marketing mix, which outlines the specifics of the product and how it will be sold, is affected by the environment surrounding the product the results of marketing research and market research, and the characteristics of the product's target market.
Once these factors are determined, marketers must then decide what methods will be used to promote the product, including use of coupons and other price inducements. The term marketing, what is commonly known as attracting customers, incorporates knowledge gained by studying the management of exchange relationships and is the business process of identifying, anticipating and satisfying customers' needs and wants.
Marketing can also incorporate information gathering (research), acquisition (acquisition cost reduction), development/testing, promotion & publicity (advertising) and education (education). Business success for an individual depends on personal decision-making ability. The objective of successful growth comes from achieving goals that support productivity while reducing costs, creating efficiencies and maximizing overall profitability in order not only achieve economic independence but establish confidence among consumers so they may buy your goods at reasonable prices too.