Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others (Kotler, Brown, Adam, and Amstrong, 2001: 6).
Marketing is about connecting with customers, serving the needs of society, and accomplishing the goals of the organization. Through customer satisfaction marketing creates the customer loyalty necessary to reach an organization's objectives. Marketing works by creating valuable exchanges that provide consumer satisfaction (Kotler et al, 2001: 9). All of these purpose could be obtained by following the marketing strategy process which has four steps - analyzing marketing opportunities, selecting target markets, developing the marketing mix, and managing the marketing effort (Kotler et al, 2001: 65).
A marketing strategy is a plan identifying what marketing objectives will be obtained, and how they be achieved by using marketing segmentation and also marketing mix. Marketing strategies identify and specify target market and generate a marketing mix strategy for each segment on the target market based on this strategy.
Basically, a marketing strategy provides a 'blue print' of what a business's objectives are with regard to marketing.
Marketing mix itself is the set of controllable marketing variables that the company blends to produce the response it wants in the target market (Kotler et al, 2001: 69). Basically, marketing mix consists of - product, price, placement, and promotion (usually called as 'four Ps'. But, in recent years, as the marketing itself has evolved, the marketing mix has also extended, so now, it has not only 'four Ps' but 'seven Ps'. The other three Ps are people, process, physical evidence (Kotler et al, 2001: 70).
The first 'P', product refers to the 'total concept' that is sold or offered to the market. The total product consists of both...