Explain the costs and benefits of a marketing approach.

In a fiercely competitive environment, where supply greatly exceeds demand, the commercialization of products and services is not always evident. We increasingly see that mere advertising does not guarantee commercial success. This holds even truer for companies wanting longevity in such a competitive setting.

Marketing approach begins with getting to know markets and target clients so as to understand (step #1) their true needs and desires. In this light, a company thus develops (step #2) not so much products as solutions adapted to those clients. It then looks for pertinent ways in which to commercialize (#3), which means communicating its existence and its solutions. Once this is accomplished, it is then in a better position to manage (#4), sell and deliver value to clients while trying to persuade them to repeat their purchases.