Marketing is a process of satisfying the needs and wants of the customer by providing product that has reasonable price, a specific location, an enticing brand name.
Marketing is the one who analyses things. They do a lot of work in order to improve something about the product and for innovation. Because of that this concept of marketing is created. I can call it as marketing cycle because for me it will never end.
- First is Need wants and demand, this is the first stage of marketing cycle where in you must analyse the behavior of your surroundings. Gather some research about what product will be suitable in your area. Start to research about the beliefs and cultural practices in your area because it can influence the mental behavior of your target customer. After you research about everything in your place, you will enter in the second stage.
- Second is product, after you recognize the behavior of your environment, you should find some product or services that you will sell them. You know what they need and want give it to them. Make sure that the product you’re providing to your prospect is made with high quality materials that can satisfy your customer.
- Value and satisfaction are the third stage, this is the critical stage of the cycle, and you will know if the product really satisfies the needs of your customer. You’ll know if your research is in line to the product that you made. This will tell if you will succeed.
- Next is Exchange transactions and relationship, after you succeed in satisfying the needs and wants of your customer you will start to create a good relationship with each other. It can result to customer retention and some sort of word-of-mouth advertising that can boost your company’s image.
- And last is market, if you succeed with those phases, you will see the result here in this last phase. Because of the bond you made between your customers it can result to large scale of market. The next problem that you will face is customer retention. How to maintain that large amount of market for a long period of time. It will fall to my realization that it can be call as marketing cycle. Because in order to have customer retention, you will return to the first stage which is research and cycle continues.
