
Marketing is seen as a management process. Your company will be producing goods or services, and if the company is to survive, there is a clear need to know:
• How big is the market in which you operate and what do you know about the level of demand? Who is likely to buy, and how often? What sort of people will buy your product? What motivates them?
• Where are the likely buyers, how widespread and how far distant are they? What are the costs entailed in getting your product to the customer?
• How should the product be priced so that the company makes a realistic profit and customers feel that good value is being offered?
• How are your competitors positioned? How can you persuade potential customers that your product represents better value than that offered by your competitors?
• If part of your market is abroad, how well do you understand the society, the culture within that country and the laws that operate there?
It follows that a marketing team will include people with skills in economics, statistics, psychology and even anthropology. It’s an area well worth investigating.