Understanding the Marketplace and Customer Needs

The customer is the most important element when it comes to marketing. Originally, companies didn’t practise marketing, however this is not the case anymore.
Viral Marketing is a technique whereby information about a company’s goods or services is passed electronically from one internet user to another.

The two types of organisations are:

• Profit-Making Organisations
• Not-for-Profit Organisations (N.P.O.s)

Originally, marketing was used by organisations selling goods, which are tangible, but it is now also used for services, which are intangible.
Potential customers are people who have a high chance of buying from an organisation.
Branding is a mark of quality.