Process of identifying customer’s need and satisfying it. Marketing means:
Having the right PRODUCT
On sale at the right PLACE
 At the right PRICE
 In the right PACKAGE
 Using the right PROMOTION

In the past → PRODUCT ORIENTED, manufacturer designed a product and tried to sell it.
Now        → MARKET ORIENTED, study the market and find what consumers want then manufacturer design the product.
Marketing involves:
Identifying a business opportunity in the market
 Making a product or a service available for the consumers
Create new consumers

MARKET RESEARCH:
Process of collecting and analyzing information about consumer’s preferences.
3 categories of research:
DESK RESEARCH: uses data which has already collected
FIELD RESEARCH: involves collecting new data
ELECTRONIC RESEARCH: uses technology to provide instant field research
Market research helps company to take its decision-making process.

MARKET SEGMENTATION:
Most companies subdivide the market into segments that have similar characteristics. These segments are:
DEMOGRAPHICS: customers are subdivided such as age, gender, occupation, ecc…
GEOGRAPHICS: segmentation according to the different geographical locations.
 PSYCOGRAPHICS: customers grouped according to their attitudes, interests, ecc…

MARKETING MIX:
The 4 “P”:

 PRODUCT: packaging and branding helps firm create a differentiation. Brand is a name or a symbol that identify the product (BRAND LOYALTY, have a legal protection). Two option when a company introduce a new product in the market.