Comprehensive Marketing and Product Strategies for Business Success

Value of Marketing

Marketing gives value by connecting products to customers' needs.

Value for Customers

It helps them find stuff they actually want.

Value for Businesses

It increases sales, builds brand loyalty, and makes them stand out.

Value for Society

Creates jobs, spreads innovation, boosts the economy.

Marketing

The whole strategy — research, product design, pricing, distribution, promotion, etc.

Advertising

Just one part of marketing — it's how you promote or communicate your product to the audience.

Tangible Goods

Things you can see or touch (phones, clothes, cars).

Intangible Goods/Services

Things you can't touch (insurance, Netflix subscription, haircut, tutoring).

Raw Materials

Basic natural resources used to make stuff (wood, oil, cotton).

Industrial Goods

Used by businesses to make other goods (machines, tools).

Finished Goods

The final product sold to consumers (t-shirt, phone, car).

Mass Marketing

One message for everyone (like Coca-Cola's "Open Happiness").

Target Marketing

Focuses on a specific group (e.g. Lululemon → fitness-focused people).

Personalized Marketing

Tailored to you specifically using data (Spotify playlists, Amazon recommendations).

Market Segmentation

Breaking the market into smaller parts to find the best audience for your product.

Buying Motives

Why people buy something.

Emotional Buying Motives

Because it feels good (Nike = motivation, luxury = status).

Rational Buying Motives

Because it makes sense (cheap price, high quality, useful).

Patronage Buying Motives

Loyalty to a brand or store (buying Apple because it's Apple).

Primary Research

You collect it yourself (surveys, interviews, experiments).

Secondary Research

Info that already exists (websites, reports, statistics).

Invention

Creating something totally new (first smartphone).

Innovation

Improving or updating something (adding Face ID to phones).

Product Positioning

How a product is seen in customers' minds compared to competitors.

Branding

Everything that gives a product its identity — name, logo, slogan, color, vibe, reputation.

Product Life Cycle

Stages a product goes through: Introduction, Growth, Maturity, Decline.

Non-Traditional Product Life Cycle

Not all products follow the normal path.