Why would you need to learn Marketing?

"The concept of exchanging goods or services for other goods or services without using money is called 'Barter,' a revolutionary concept known as 'Marketing'."

Barter is known as the oldest form of trade dating back to the old society, the exchange of goods for goods or services by any means without the use of money as a piece of chicken in exchange for fish. The Marketing of 4P's is the basic principle of marketing to its broadest sense in a four-pillar of its kind that is well-teach scholarly. (Product, Price, Place, and Promotion)

In this topic, I'm going to discuss Marketing which is one of my favorite branches of business studies. What is Marketing really, and why is it an important formula for business success? Understanding Business Management is a good start. If you're going to run a business it's really important that at least you have a little idea of marketing before your plan comes to any action.

The PRODUCT is something that you want to create, sell or offer that can be in the form of tangible (product) or intangible (services) product is the core of your business the reason why you are planning to build a business is because of the idea that the product has demand. If you not sure about your product it's a good start asking your self of what product/service you want to offer by answering these questions;

Is your product seasonal? if so,
how about the demand?
Is your product consumable e.g. Food, frozen goods? if so,
how about shelf life?

The PRICE is the amount of money you spend willingly in exchange for goods or services. Price is the driver of demand if the price is low the demand is high if the price is high the demand is low. If you are planning to build a business you need to accurately determine your pricing by knowing; how much is your cost by producing a product from its variable cost (raw materials) to its fixed cost (rent cost) and try to learn some other pricing strategies applicable to your business.

The PLACE (Location) In my first year of business studies I have no idea why a place is one of the four pillars of marketing all I know is, it's just a location. Building establishments like stores must be accessible and convenient for your suppliers and to your consumers. 'Popularity' "you are sweet like honey" think about why there's Jollibee in every McDonald's and why there's Ministop or Alfamart on 7Eleven? The reason is hidden in the word opportunity and popularity. Think about where do people usually meet? Government establishment e.g. School & University, Park, Accredited business area, Church, and highways along with a point of intersection. Choosing a location is an important factor in starting a business.

The PROMOTION in its simplest term it refers to introduction, propagation, and circulation. Just like a human business should have its own name, company name, (business name) product name (brand name). Promotion is naturally created by satisfied customers through a recommendation and creating buzz (word of mouth) it usually starts with the product itself the quality, packaging, and labeling.

If you are planning to start a business you should take into account such factors as the demand which is the reason for the existence of a business, on the other hand, the development of a product or service is necessary to prolong its life on the market through Marketing of 4P's.