Showing posts with label marketing. Show all posts
Showing posts with label marketing. Show all posts

Every marketer follows their own rules. Some people like to do simple things, some like unique or reckless ways, others prefer marketingHowever, there are general rules that all marketers should follow.
For example, the following 8 successful marketing rules get the approval of every marketer, according to the Entrepreneur:

1. Understanding products and customers

The first important rule is to understand your product / service from start to finish, from the inside out. This is a mandatory rule: from the beginning, you must understand what you are selling and the people you are selling to them. As a result, you can do marketing successfully.

2. Understanding the market you are competing with

Having an overview of the industry and the market you are competing with (market segmentation, demographic, region ...) is another important rule to follow. Because customers' needs, interests and demands will be very different in each market.
A thorough understanding helps you to prioritize your customer segment.
8 basic rules that marketers must follow
Having an overview of the industry and the market you are competing with is another important rule to follow. Photo:  rawpixel / UnSplash.

3. Define the objectives

Any marketing strategy must ensure there is a good return on investment (ROI). Otherwise, investment in marketing is just a useless waste of time and resources.
The goals to be determined can be sales revenue, conversion rates, visibility ... Identify the goals you want to achieve, then draw measurable figures. Then regularly monitor and adjust the strategies to best suit.

4. Never ... sell products

The key to selling your product is ... "Don't sell products!" Remember, your customers are not interested in what you can sell, but they are interested in how you can solve their problems.

5. 80/20 rule

Marketing requires a lot of money. So companies often look at marketing as a "money burning machine" (except for completely B2C companies - where the direct task of marketing is to generate revenue).
Your customers are not interested in what you can sell, but they are interested in how you can solve their problems.
It is important to focus and analyze the data from the BCG matrix (short for Boston Consulting Group) - the theory was built to help businesses orient the growth strategy of market share by bringing product lists Go to 4 groups, determine the location of these products in the market to decide whether to invest or not.
Spend 80% of your time and money on products that give you the maximum return on investment, and spend 20% of your time and budget on working with new techniques, new strategies and investments for New marketing tool.

6. Regularly analyze marketing strategies

Analyzing your marketing efforts and their impact should be part of the daily work of marketers.
This will help limit mistakes in the process of implementing a certain marketing strategy. At the same time, ensure communication is smooth, know how the customer or the person receiving the message responds to the message, and how they affect them ...

7. Personalization

One size can't fit everyone. Make sure you have clearly identified all customer journey experiences and potential customers.
This is no longer a big challenge in this day and age. Using an automated marketing software will help you, help identify customer experiences and their favorite action trends.

8. Open up with feedback

A marketer must always keep his or her senses open. We should know what kind of conversation should be avoided or rejected, but at the same time, we must understand how to open up for feedback.
It's great to hear positive words, but not everything will always happen that way. Constructive comments should be welcome and only they can help the brand become stronger.









What is Dynatrace?

Dynatrace is an all-inclusive application monitoring software for DevOps in enterprises and SMBs. The platform leverages proprietary artificial intelligence (AI) technology to provide actionable insights that enable businesses of all sizes to effectively control thousands of servers from a unified interface. It supports automated performance management and allows businesses to visualize every user and application, everywhere.
The program enables DevOps to discover application dependencies and provides an automatic root cause analysis of every performance issue. Its open ecosystem means it is available as On-premises, managed, or SaaS and can seamlessly integrate into the IT landscape with open APIs. Some of its key capabilities include business & performance analytics; digital experience management; application monitoring management; performance lifecycle management; and container, cloud, and infrastructure monitoring.
What is Dynatrace

Overview of Dynatrace Benefits

Dynatrace is an all-in-one performance monitoring solution designed to serve businesses of all sizes. The software supports full-stack monitoring to enable businesses to detect and diagnose both performance and availability issues. It’s a unified solution that enables SMBs and enterprise to analyze application performance across the entire applications stack down to distinct transactions, across all technologies and layers. With full stack monitoring, businesses get in-depth insights into application performance, customer experience, and infrastructure monitoring.
The platform facilitates automated monitoring at scale with capabilities to support even the largest environment with over 100000 hosts. It features automatically adjusted and pre-configured dashboards with no manual configurations for all installations. In addition, Dynatrace’s artificial intelligence persistently learns application behaviors, auto-detects end-to-end dependencies & anomalies, and proactively spots the root cause of all issues. It discovers the entire application stack right from the end user’s web browser to the applications, down to the cloud, container, and infrastructure.
Another benefit of Dynatrace is its big data analytics. The application optimizes artificial intelligence to deliver answers with actionable acumens to your operation staffs, business stakeholders, and development teams. It links business outcomes to the performance insights to enable business owners to fully comprehend the repercussions of detected issues. This makes it easy to resolve all the problems before they affect your customers. Additionally, Dynatrace learns all baseline performance of user applications and sends notifications when new code deployment precipitates high resource consumption.

Overview of Dynatrace Features

  • Full stack discovery
  • Full stack performance management
  • Visualizing application infrastructure
  • AI-powered analytics
  • Self-healing at scale
  • Detecting vMotion events
  • Digital experience management
  • Container, cloud, and infrastructure management

Dynatrace Position In Our Categories

Position of Dynatrace in our main categories:Dynatrace is top 1 Application Performance Monitoring Softwareproduct.
If you are considering Dynatrace it might also be a good idea to analyze other subcategories of Best Application Performance Monitoring Software listed in our base of SaaS software reviews.

There are popular and widely used systems in each software group. But are they essentially the best fit for your organization’s specific requirements? A trendy software application may have thousands of subscribers, but does it offer what you require? For this reason, do not blindly spend on popular systems. Read at least a few Dynatrace reviews and mull over the aspects that you wish to have in the software such as the cost, main tools, available integrations etc. Then, choose a few apps that fit your wants. Try out the free trials of these platforms, read online comments, get explanations from the vendor, and do your homework systematically. This in-depth homework is sure to help you select the most excellent software platform for your company’s specific wants.

Technical details

Devices Supported
  • Windows
  • Linux
  • Mac
  • Web-based
Language Support
  • English
  • Chinese
  • German
  • Japanese
  • Spanish
  • French
  • Russian
  • Italian
Pricing Model
  • Quote-based
Customer Types
  • Small Business
  • Large Enterprises
  • Medium Business
  • Cloud Hosted
  • On Premise
  • Open API

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Vero 2.0 – Marketing Landing Page Html Template

Free Vero HTML Template is a clean and modern Marketing HTML5 template. It can be used to promote your services, It has some features which will help you make your project stand out from the crowd.
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Distinguish Digital Marketing And Online Marketing?

When it comes to Digital marketing, you talk about using digital channels that include devices and platforms (regardless of whether they're online or not) to build or promote your marketing message. to users.

Online Marketing and Digital Marketing (Digital Marketing) are terms that are often confused with each other and often abusive in naming them. I see a lot of friends working in the advertising marketing industry but sometimes I wonder if they work in the digital array or online. And still many people do not understand what Digital Marketing is and Online Marketing is.

This article helps answer questions and relieve the small confusion mentioned above. It sounds very normal, not even important, but knowing the difference is what Digital Marketing is and Online Marketing will help us a lot in:
  • Choose the right channel and support the formation of an overall marketing strategy.
  • It can also help analyze current strategies by classifying which types of marketing, which channels are wasting their money. To know the money of the effort we spend will bring consistent results, long-term sustainability or simply dump the river.
Digital Marketing (Digital Marketing): a broad term that is universal
When it comes to Digital marketing, you talk about using digital channels that include devices and platforms (regardless of whether they're online or not) to build or promote your marketing message. to users.
In other words, with Digital Marketing is not limited to just using the internet, but in this way Digital Marketing can be viewed as a broader term as it includes a wide variety of marketing techniques.
For example, if you want to run a mobile SMS marketing campaign to send customers the upcoming promotions from your business, the technology is used to create and send automated messages, but people Use without Internet connection to receive SMS.
Summary: Anything that works as a digital platform can be considered Digital Marketing, can list some cases like: Email, E-book, Games, Content, Video, Mobile Marketing, Quang TV, Digital OOH ... etc ...
Online Marketing: immediately identify actions when interacting
Online Marketing, also known as internet marketing,  is a subset of Digital Marketing. The main features of Online Marketing are that in order to be able to do it requires an internet connection.
For example, if we do a CPC / PPC campaign (pay per click) or an image display ad on a website (Display Ads) for a business or brand, we're making a picture. Formula of Online Marketing.
Like Digital Marketing, Online Marketing is developed with technology. However, I think that Online Marketing is developing and innovating so fast (every day, every hour) so that it is very difficult for people to catch up with everything. In addition, for a newcomer, Online Marketing seems more flashy and overwhelming because nowadays everyone is referring to it and easy to reach, this is one of the main reasons causing confusion that Digital Marketing & Online Marketing is one.
List some Online Marketing-related cases or actions such as Website, SEO, SEM, Display Ads (display advertising), Social Media, ... etc ...
Is it best to use Digital Marketing or Online Marketing?
Most businesses will always try to do some digital marketing, which is great but not enough. In order to create and implement a good marketing plan, it is necessary to understand many different issues, and depends on many factors such as: type of business, field of activity, budget, objectives, target audience. goods ... etc ... However, you should use the data to help make the best decisions.
For this reason, the advice is that we should use at least one form of online marketing to benefit from the data that can be gathered from them, and also to measure the results that your efforts bring.
For example, use Google Analytics, for example, if you do a PPC campaign, and add conversion tracking. And to see exactly what your budget is being spent on and analyze to see if the results are obtained, the budget is spent appropriately & effectively.
Is the difference really important?
The truth is, this difference is not too influential. This article discriminating Digital Marketing and Online Marketing is not to distinguish right from wrong, but to achieve the important purpose is that you understand the meaning of each problem and choose channels, media, using tactics (tactics) appropriately when developing an overall marketing plan.
And the next important thing to remember is: strategy. Whether you use channels, tactics, approaches ... how to do marketing, there is always a clear plan and strategy to implement. How do you want to get results and goals? How to make the plan achieve the desired results? Who are customers, where, habits? Want access to increase awareness (awareness) or want to achieve deeper results and know what the money has invested? … A lot of problems.
Setting up questions, problems & solving them will help to have a proper plan or strategy, thereby helping to choose the right and effective approach and approach. Hopefully the article will help you understand what Digital Marketing is.

What is Scrum?

Scrum is at its heart a project management methodology. It was developed to manage software development projects, but with just a few tweaks, it can be used to manage marketing projects. It begins with a project backlog, a list of marketing tasks requested by the business owner or developed by the marketing team to achieve the marketing goals. During the Sprint Planning meeting, the team reviews the project backlog and agrees upon the tasks to be accomplished during the current sprint. 

Completion of these tasks is tracked by the scrum master, mainly through the mechanism of the daily scrum meeting. This is usually a 15 minute standup meeting, where each member of the marketing team answers three questions:

  • What did I do yesterday?
  • What will I do today?
  • Are there any obstacles that stand in my way?

In general, scrum is intended to be a lightweight project management methodology, trying to get out of the way of marketers getting the job done, while at the same time providing visibility to the team and to management of progress. There are many tools designed to track the product backlog, the individual requirements and any issues. The terminology is somewhat different from what we would use for marketing, but these tools can still be used to track and report on marketing progress.

what is Agile Marketing?

Agile Marketing is an approach to marketing that takes its inspiration from Agile software development and that values:

Responding to change over following a plan
Rapid iterations over Big-Bang campaigns
Testing and data over opinions and conventions
Many small experiments over a few large bets
Individuals and interactions over one size fits all
Collaboration over silos and hierarchy

The goals of Agile Marketing are to improve the speed, predictability, transparency, and adaptability to change of the marketing function.

Agile Marketers also support a set of principles, statements that expand upon what it means to be an

Agile Marketer.

Our highest priority is to satisfy the customer through early and continuous delivery of marketing that solves problems and creates value
We welcome and plan for change. We believe that our ability to quickly respond to change is a source of competitive advantage
We deliver marketing programs often, from every couple of weeks to every two months, with a preference to the shorter timescale.
Great marketing requires close alignment with the business, sales and development
Motivated individuals build great marketing programs. Give them the environment and support they need, and trust them to get the job done.
Learning, through the build-measure-learn feedback loop, is the primary measure of progress
Sustainable marketing requires you to keep a constant pace and pipeline
Don’t be afraid to fail; just don’t fail the same way twice
Continuous attention to marketing fundamentals and good design enhances agility.
Simplicity is essential.

Agile Marketers follow a process called Scrum, designed to increase alignment with the business aims of the organization and the sales staff, to improve communication, both within and outside the marketing team, and to increase the speed and responsiveness of marketing.  The process copies that of agile development, with some differences in the details.

Agile Marketing Process

This process is iterative, allowing for short marketing experiments, frequent feedback, and the ability to react to changing market conditions.

To learn more, check out the featured posts section to the right.  You can also subscribe to my blog for regular updates on Agile Marketing.
According to basic marketing, Marketing is the process of organizing sales forces to sell the goods produced by the company. Marketing is the process of advertising and sales. Marketing is a process of understanding and satisfying market demands. Marketing is a market, market research to satisfy it.

There are many different ways to define Marketing. Marketing is the process of organizing sales forces to sell the goods produced by the company. Marketing is the process of advertising and sales. Marketing is a process of understanding and satisfying market demands. Marketing is a market, market research to satisfy it. We can also understand that Marketing is the social and economic mechanism that organizations and individuals use to satisfy their needs and desires through the product exchange process in the market.
According to Philip Kotler, marketing is understood as follows: Marketing is a social management process, whereby individuals and collectives get what they need and want through creating, offering and giving. change valuable products with others.
This concept of marketing is based on core concepts: needs, wants and requirements, products, values, costs and satisfaction, exchanges, transactions and relationships, markets, marketing and marketing people. These concepts are illustrated in the following figure:

Needs, desires and requirements

Marketing thinking starts with the real needs and desires of people. People need food, air, water, clothes and shelter to take refuge. In addition, people are very eager to rest, study and other services. They also have a preference for specific models and brands of basic goods and services.
Statistics show that, in a year, 249 million Americans can consume or use 67 billion eggs, 2 billion chickens, 5 million hair dryers, 133 billion km of domestic travel passengers by air. and more than 4 million lectures by professors of English language schools. These consumer goods and services produce more than 150 million tons of steel, 4 billion tons of cotton and many other means of production.
Need to clearly distinguish the concepts of needs, desires and requirements. Human need is a state of feeling of a lack of some basic satisfaction. People need food, clothing, shelter, safety, wealth, esteem and some other things to survive. These needs are not created by society or marketers. They exist as a constituent part of the human body and human body.
Desire is a desire to have specific things to satisfy those deeper needs. An American who needs food and wants to have hamburger, needs for clothes and wants to have a Cardin suit, has a need for respect and wants a Mercedes. In another society these needs are satisfied in another way: Australian Aborigines satisfy their hunger with penguins; Demand for clothes with a piece of clothing; The esteem with a chain of snail shells to wear the neck. Although people's needs are few, their wishes are many. Human desire is constantly evolving and shaped by social forces and institutions, such as churches, schools, families and business companies.
Requirement is the desire to obtain specific products backed by the ability and attitude willing to buy them. Desire becomes a requirement when purchasing power is available. Many people want a Mercedes, but only a handful are able and willing to buy it. So the company not only has to quantify how many people want their product, but more importantly, to quantify how many people are really ready and able to buy it.
These differences have shed some light on the common criticism of marketing critics, "marketers create demand" or "marketers seduce people to buy things they don't desire". Marketers do not create demand, demand already exists before marketing people. Along with other influencing factors in society, marketers have an impact on expectations. They encouraged the idea that the Mercedes car would satisfy the need for human social status. However, marketers do not create a demand for social status. They impact demand by making appropriate, attractive, affordable and easy-to-find products for target consumers.


People satisfy their needs and desires with goods and services. The term product here is understood as both goods and services. We define a product as anything that can be offered to satisfy a need or desire. The important meaning of physical products comes not from owning them, but from getting the services they bring. We buy a car not to look at it but because it provides transportation. We buy a kitchen not to admire but because it guarantees a cooking service. So physical products are really the means to ensure our service.
In fact, the service is also ensured by other factors, such as people, places, activities, organizations and ideas. If we feel sad, we can go to a comedy club to see a comedian performing, joining a single club (organization) or accepting a different philosophy of life (idea). So we will use product term to refer to material products, service products and other means that can satisfy a desire or a need. Sometimes we will use different terms instead of products, such as goods, satisfaction factors or resources.
Manufacturers make the mistake of focusing on their physical products rather than the services that those products perform. They only think about consuming products, not guaranteeing a demand. But a woman did not buy lip wax, but she bought "a hope" to beautify her. The carpenter does not buy a drill, but buys a "drill hole". Material objects are just a means to package a service. The job of a marketer is to sell the benefits or services contained in physical products, rather than describe their physical properties. Sellers only pay attention to physical products, not the needs of consumers who are "short-sighted".

Value of cost and satisfaction

Among many products that can satisfy a certain need, how will consumers choose? Suppose, every day a person has to work 3 miles away. There are a number of products that can satisfy this demand: roller skates, bicycles, motorcycles, cars, taxis and buses. These options create a set of product selection capabilities. Suppose that person wants to satisfy some additional needs on the way to work, namely speed, safety, comfort and savings. We call that set of needs. Now each product has a different ability to satisfy the different needs of that person. For example, bicycles are slower, less safe and more energy efficient than cars, but are more economical. In any case, the person must decide which product will satisfy the most complete demand.
The key concept is value to customers. He will assess the ability of each product to satisfy his needs. He can rank products from the most satisfying category to the least satisfying type. Value is a consumer appreciation of the overall ability of the product to meet its needs.
We can ask him to visualize the characteristics of an ideal product for those tasks. He can answer that the ideal product will take him to work momentarily with safe, effortless and zero cost. Then the value of each actual product will depend on how close it is to that ideal product.
Suppose that he cares primarily for speed and comfort when working. If he is free to use any of these products, we can predict that he will choose a car. But now a new problem arises: the cost of buying a car is much greater than the cost of buying a bicycle, so he will have to give up many other (valuable) things to buy a car. So he will consider the value and price of the product before he chooses. He will choose which product creates the largest value on a dollar.
Researchers of consumer behavior today are beyond the narrow framework of economic theories about how consumers judge value and choose products.

Exchange, transactions and relationships

The fact that people have needs and desires and can attach value to a product has yet to fully explain the meaning of marketing. Markerting occurs when people decide to satisfy needs and wants through communication. Exchange is one of four ways for people to get products.
The first way is self-production. People can solve hunger by hunting, fishing or gathering fruit. They don't need to have sex with anyone else. In this case, there is no market and no marketing. 
The second way is rape. Hungry people can snatch or steal food from others. Those other people don't benefit anything except one thing.
The third way is to ask. Hungry people can come and ask other people for food. They have no tangible things to exchange, except thanks.
The fourth way is to exchange. Hungry people can bring money to others, other goods or services in exchange for food.
Marketing arises from this fourth product method. Exchange is the act of receiving a desired product from someone by giving that person something. Exchange is a decisive concept, creating the foundation for marketing. Exchange only occurs when the following conditions are satisfied:
1. At least two parties must be present. 
2. Each party must have something that can be valuable to the other party. 
3. Each party must be able to self-trade and transfer their goods. 
4. Each party has the freedom to accept or reject the offer of the other party. 
5. Each party is confident that he or she wants to deal with the other party.
If there are enough five conditions, there is a potential for exchange. Whether or not the exchange actually takes place depends on whether the two parties can negotiate the conditions of exchange that are beneficial to both parties (or at least not harmful) compared to before giving. change. It is because of this meaning that exchange is seen as a process of value creation, meaning that exchanges often make both parties more profitable before exchanging.
Exchange must be viewed as a process, not an event. The two sides are seen as participating in the exchange if they are negotiating to reach an agreement. When an agreement is reached, we say the transaction has taken place. Transaction is the basic unit of exchange. The transaction is a sale of values ​​between the two parties. We can guess that: Party A gave Party X and got the Y back. However, the transaction does not require money as one of the values ​​to be traded. A barter transaction means that the person gives the other person a refrigerator and receives a TV battle. Barter transactions can also be the purchase and sale of services instead of goods, such as when a lawyer writes a will to the doctor in exchange for a medical examination ...
The transaction requires a factor: at least two values, agreed upon implementation conditions, agreed time of implementation, agreed place of implementation. Usually there is a legal system that supports and obliges trading parties to comply with their commitments. Trading is easy to generate conflicts due to misunderstandings or deliberate. Without the "contract law", people will be unreliable in the transaction and all lose.
Businesses to track their transactions and classify them by item, price, location and other events. Sales analysis is the analysis of the company's revenue origin by product, customer and location ...
Transactions are different from transfers. In handing over Party A to Party X but not receiving tangible objects. When Party A gives Party B a gift, a pension or a charity contribution, we say it is a transfer, not a transaction. It seems that marketing is limited to research transactions, not transfers. However, the transfer behavior can also be explored through the exchange concept. Usually the transferor has certain expectations for giving gifts, such as receiving a thank you or seeing the recipient having better behaviors. Professional fundraisers understand very well the "reciprocal" motives of benefactors and invite them to attend the ceremonies.
In the most general sense, marketers are looking for ways to get the reaction from the other side. A business company wants to respond that is buying behavior, a political candidate wants to respond to that is voting behavior, the church wants to react that is religious behavior, social activity group If you want to react, it is the act of accepting your ideas. Marketing includes activities conducted to create the desired response to an object from the target public.
In order to ensure smooth exchanges, marketers must analyze what each party expects to give and receive. Simple exchange situations can be performed with a profile in which two people join together with the desired things and the invitation to circulate among them.
Here we have seen the nature of marketing transactions. Trading Maketing is a bigger part of the idea than relationship marketing. Wise marketers try to build long-term, reliable, mutually beneficial relationships with big customers, distributors, agents and suppliers. This is done by promising and always ensuring high quality, attentive service and affordable prices for the other side. That task is also done by building close economic, technical and social ties with partners. Relationship marketing will reduce transaction costs and time and in the best cases the transaction will shift from having to negotiate each time to becoming a routine job.
The end result of relationship marketing is to formulate a unique asset of the company, called a marketing network that includes the company and its suppliers, distributors and customers that the company has built. build strong and reliable relationships in business. Marketing tends to shift from trying to maximize profits in each transaction to maximize the mutually beneficial relationships with partners. The working principle is to build good relationships and then self-define transactions that will be beneficial.


The market includes all existing and potential customers who have a specific or willing or desirable need and ability to participate in the exchange to satisfy that need or desire.
Thus the size of the market depends on some people who have needs and have resources that are of interest to others, and are willing to bring those resources in exchange for what they want.
At first, the term market was meant to be a place where buyers and sellers met to exchange goods, such as a village market. Economists use market terminology to refer to a group of buyers and sellers dealing with a specific product or class of products, such as housing market, grain market ... However , marketers again see the seller as a manufacturing industry, considering the buyer meeting the market.
Business people use market terminology to refer to different customer groups. They talk about market needs (such as the daily food market), product markets (footwear market), demographic markets (such as youth markets) and geographic markets (like markets). Vietnam). Or they expand the concept to refer to non-client groups, such as the voter market, the labor market and the philanthropic market.
In fact, modern economies all operate on the principle of division of labor in which each person specializes in producing something, receiving payment and then buying necessary things with that amount. Thus, the modern economy has many markets. Mainly manufacturers look to resource markets (material market, labor market, money market ...) to buy resources, turn them into goods and services, sell them to the middle people. Time for middlemen to sell them to consumers. Consumers who sell their labor take money to pay for the goods and services they buy. The state is another market that has several roles. The state buys goods from the resource markets, the manufacturer market and the intermediary market, pays them, taxing those markets (including consumer markets), then securing the necessary public services. Thus, each national economy and the entire world economy constitute complex sets of markets that interact with each other and link together through exchange processes.
Thus, the market concept has brought us back to the starting point as a marketing concept. Marketing means human activity taking place in a relationship with the market. Marketing means working with the market to make potential exchanges a reality for the purpose of satisfying the needs and desires of people.
If one side is more actively looking for a way to exchange than the other, we call the first party a marketer and a second party a prospect. Marketers are people who seek resources from another person and are willing to offer something of exchange value. Marketers seek a response from the other side to sell or buy something. In other words, marketers can be sellers or buyers. Suppose, some people want to buy an attractive house that has just been completed. So those buyers are also marketing! In case both parties actively seek to exchange, we say that both sides are marketers and call that case marketing each other.
In the case of normal marketers is a company that serves the market of end users facing competitors. Companies and competitors send their respective products and messages to end users directly or through marketing intermediaries (intermediaries and trade promoters). Their relative effect is influenced by their respective suppliers as well as by the major forces of the environment (demographic, economic, physical, technical, political, social, cultural, etc.). ).
After studying these concepts, we would like to recall the marketing concept as follows: Marketing is the social and economic mechanism that organizations and individuals use to satisfy the needs and demands ( desires) through product exchange processes in the market.