MARKETING

In this blog, I would like to talk about the topics that I consider most important in a business.

Marketing is the process in which a company creates a large value to a product and establishes a very strong relationship with buyers. This strategy can be used anywhere and in any product to improve its sale and distribution.

The marketing process model includes ways in which value can be created for the customers to satisfy their requirements. It is an endless series of actions and reactions between the customers and the companies making attempt to create value for and satisfy the needs of customers.

It is carried out in 5 steps which are as follows:

1. Understanding the Marketplace and customer needs and wants.
2. Develop the marketing strategy that will be used.
3. Construct and integrated marketing program.
4. Build profitable relationships.
5. Capturing value for customers.

Now I want to talk about 3 points that I think any business should take into account when manufacturing its product.

Needs are a customer's desire for a product, or service or a specific benefit. It could be a functional benefit like food or an emotional benefit like happiness.

Wish is the human needs of the culture and personality of each client.

Demand refers to the desire to have a commodity backed by willingness and ability to purchase that commodity at given price during a period of time.

Maslow's hierarchy of needs is a motivational theory in psychology comprising a five-tier model of human needs, often depicted as hierarchical levels within a pyramid. From the bottom of the hierarchy upwards, the needs are: physiological, safety, love and belonging, esteem, and self-actualization.

Physiological needs: water, food, sleep, clothing, shelter, air.

Safety needs: employment, resources, health, personal security.

Belongingness and love needs: friends, family, intimate relationships.

Esteem needs: self esteem, respect, strength, freedom.

Self-actualization: goals, achieving one´s full potential.