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Social media has become an affordable route of marketing for small businesses. It is a fraction of the cost of traditional marketing and small businesses can do it themselves or find small social marketing agencies that they can hire out for a small fee. Statistically, social media marketing has a higher lead-to-close rate than traditional media.
Marketing is the act of satisfying and retaining customers. [3] It is one of the primary components of business management and commerce. [4] Marketing is typically conducted by the seller, typically a retailer or manufacturer. Products can be marketed to other businesses or directly to consumers . [5]
The Marketing strategy is a plan that shows how the firm's marketing activities will help to achieve the overall strategic goals. Marketing management is focused on developing the marketing program or Marketing mix (also known as the 4Ps ) and is concerned with the implementation of specific action plans designed to achieve objective ...
A marketing plan is a plan created to accomplish specific marketing objectives, outlining a company's advertising and marketing efforts for a given period, describing the current marketing position of a business, and discussing the target market and marketing mix to be used to achieve marketing goals.
Digital marketing is the component of marketing that uses the Internet and online-based digital technologies such as desktop computers, mobile phones, and other digital media and platforms to promote products and services. [2] [3] It has significantly transformed the way brands and businesses utilize technology for marketing since
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market". [2] Marketing theory emerged in the early twenty-first century. The contemporary marketing mix which has become the dominant framework for marketing management decisions was first published in 1984. [3]
A marketing channel consists of the people, organizations, and activities necessary to transfer the ownership of goods from the point of production to the point of consumption. It is the way products get to the end-user , the consumer ; and is also known as a distribution channel . [ 1 ]
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