Marketing Concepts For A Coherent Marketing Strategy
Marketing is a way of creating awareness of products and services offered by a company. It is also known as selling. Marketing is the practice of creating and building relationships with customers and potential customers so that they are drawn towards a company’s product or service. The basic function of marketing is to acquire new customers, to persuade others to use a product or service, and to satisfy customer needs. Marketing is the science of getting the word out about a product or service to the public. Marketing studies show that marketing tends to improve the popularity of goods and services that have been launched.
Marketing management involves the study of advertising techniques and marketing strategies. Marketing is a way of creating awareness of products and services offered by an organization through advertising. It also includes selling and the promotion of products and services. Marketing is part of the broader discipline of advertising, sales, communications, and promotions that are related to the buying decision of buyers and sellers across all types of industries.
The marketing research reveals that the purchase decisions are made after taking into consideration factors such as price, quality, service, delivery time, appeal and the culture of the buyer. It also includes issues such as the reputation of the seller, the assurance of payment and the acceptability of the transaction among the buyers and sellers. Marketing seeks to satisfy the customer need by providing information about the product and the selling practices and attitudes of the buyers. Marketing research in the context of advertising focuses on the creation of awareness, acceptance, participation and influence in the social network. Marketing is a system for the coordination of buying and selling processes that brings together the various functions of production and distribution.
Marketing activities include collecting and analyzing data, developing marketing strategies, using media, positioning products and services, consumer perceptions, influencing and creating policies, and managing competition. Marketing concepts include brand equity, brand name, and customer loyalty. Marketing research enables the evaluation of marketing strategies and their effect on organizational development, financial status, and profitability of organizations. It is also a tool for the improvement of services and product effectiveness.
Influencer marketing is an important part of the marketing management where a special attempt is made to connect with specific targeted consumers. This type of marketing is done through the creation of messages and other promotional materials which are then circulated among influencers. The promotional activities are often promoted through mass media such as print advertisements, radio and television. Influencer marketing helps the marketers understand their target consumers better, gather more information about them, know their interests, and learn about their purchasing tendencies.
Marketing concepts involve the development of customer orientation, which is a set of organizational procedures that help to understand the needs and requirements of the customers and create a marketing concept or message that addresses these needs and requirements. Consumer orientated marketing concept is primarily concerned with satisfying customers and creating solutions to their problems. The concept of satisfying consumers involves offering goods and services that are in tune with the desires and needs of customers and this is one of the most important ingredients for a coordinated marketing effort.