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Most people think that marketing is only about the advertising and/or personal selling of goods and services. Advertising and selling, however, are just two of the many marketing activities.
In general, marketing activities are all those associated with identifying the particular wants and needs of a target market of customers, and then going about satisfying those customers better than the competitors.
This involves doing market research on customers, analysing their needs, and then making strategic decisions about product design, pricing, promotion and distribution.
CIM (Chartered Institute of Marketing) has recently proposed a new definition for ‘marketing’ changing the focus away from management to the customer.
"Marketing is the strategic business function that creates value by stimulating, facilitating and fulfilling customer demand. It does this by building brands, nurturing innovation, developing relationships, creating good customer service and communicating benefits. By operating customer-centrically, marketing brings positive returns on investment, satisfies shareholders and stakeholders from business and the community, and contributes to positive behavioural change and a sustainable business future."