17. Marketing in the 21st Century

 

Task 1 Marketing

 

What is the definition of Marketing?

Marketing is a tool or strategy that is used to let everyone know about the product, service, or business. Philip Kotler, an American professor considered the father of modern marketing, states that it is "a social and administrative process by which groups and individuals obtain what they desire through generating, offering and exchanging products of value with their peers."

 

What is understood as Market in business?

I understand the market as people or organizations that buy goods and services, either for their own consumption or for trade or also produce goods and services. I understand the market as the people or organizations that buy goods and services, either for their own consumption or for trade or also produce goods and services.

 

What is the purpose of Marketing?

Its purpose or purpose is to be able to design strategies for businesses or companies based on objectives that they pursue among themselves, also increase sales, obtain profits and achieve a greater market share.

 

Why is Marketing important?

Its importance lies in the fact that it is a determining factor to improve people's lives through products and services that are useful in their day to day. That is why it integrates a whole cycle that is the needs of the consumer, the design of the product or service, its production, storage, distribution, sale, etc. This cycle allows you to meet the requirements or needs to make it easier to reach the right audience.

 

What are the different types of Marketing? Define them in detail.

Marketing is classified into several types; they are divided from the moment the products reach the final consumer.

•          B2C (Business-to-consumer). With this strategy, companies communicate their message to sell their products or services directly to the final consumer.

•          B2B (Business-to-business). In this type of the communication of the company is carried out with the aim of selling its products or services, not to an individualized customer but to another company.

•          B2G (Business-to-government). What it seeks is to connect a company with the government, so that products or services can meet the needs of the final population.

 

What are the aspects a marketer needs to consider nowadays?

A marketing specialist must know how to design marketing strategies for products or services that are current in the market. They should also conduct market research based on the needs of their company and the customer. They must be able to develop and implement advertising strategies for different sectors, whether public or private, in mass media or conventional media.

 

What are the differences between Marketing in the past and Marketing in the 21st century?

I think that the differences of marketing from the last century to the XXL, is definitely the number of ways in which a product can be offered, that is, with globalization and new technologies it is very easy to reach anywhere in the world, I simply think that you have to look for very good strategies to be able to cover the large market to which we are exposed. Not forgetting that it is a benefit, but also repercussions since there are thousands of services and equal products, the good strategy is to find something new to offer to the market.

 

Source:

Universidad del Valle de Puebla. (s.f). “Mercadotecnia”. UVP|Blog. https://uvp.mx/uvpblog/mercadotecnia/

Nodreen K. (s.f). “What is marketing? marketing in the real and business world - marketing 101”. YouTube. https://www.youtube.com/watch?v=VzsNqYARnd0