Student experience in Marketing
A quick guide to marketing
Marketing works on three levels:
1. As a guiding business philosophy; marketing ensures that all employees across a business work together for the common goal of satisfying customers.
2. As a strategic decision-making process; deciding what to sell/offer, to which target customers, and how.
3. As a set of marketing tactics that put strategies into action. These are referred to as the '7 Ps of the Marketing Mix':
- Physical evidence
The marketing mix is a set of processes for creating, communicating and delivering value to an organisation's target customers, and for managing relationships with them in ways that benefit the organisation and its stakeholders.
Above all, marketers have a responsibility to make society a better place. To this end, marketing also involves a focus on understanding customers, promoting their welfare, and addressing the consequences of marketing's actions on society.
The Marketing Trade Show is a practical assignment as part of the introductory marketing paper MRKTG101. Teams of students compete for prizes by developing a marketing strategy for a hypothetical new product.