What is Marketing ? Learn more about marketing
In simple words, marketing means let your customers or world know about what you are selling or offering. How you are different from others in the market. Why they should come to you & not to go to others. In addition to that, just be what you are rather copying your competitors who is doing really well. For instance, Uniqueness is required. What is marketing? In this post we will learn more about marketing which may look very basic. But then it is very important or crucial to know.
In addition to above, it is just the matter of standing out different in the crowd in different ways. These ways can be price, product/service features, place, people or many more.
Process of teaching consumers why they should choose your product or service over those of your competitors.
DEFINITIONS OF MARKETING
- The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. – According to the American Marketing Association Board of Directors
- Process by which a firm profitably translates customer needs into revenue. – Mark Burgess
- Meeting the needs and wants of a consumer. – Andrew Cohen
- Helping people buy your product or service. – Jason Falls
- The act of developing an engaging relationship with every single human being that shows an interest in you.– Paul Flanigan
- Creates integrated campaigns to generate leads that positively influence sales, brand, value and vision. -Jayme Soulati
- Dr. Philip Kotler defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.”
ELEMENTS OF MARKETING MIX
Quality, Image, Branding, Features, Variants, Mix, Support, Customer Service, Use Occasion, Availability and Warranties
Positioning, List, Discounts, Credit, Payment Methods and Free or value added elements
Marketing Communications, Personal Promotion, Sales Promotion, Public Relations, Branding and Direct Marketing
Trade Channels, Sales Support, Channel Number and Segmented Channels
Individuals on marketing activities & Individuals on customer contact, Recruitment, Culture/image, Training & skills and Remuneration
Customer Focus, Business-led, IT-supported, Design Features and Research & Development
7) Physical Evidence
Sales/Staff contact experience of Brand, Product Packaging and Online Experience
Digital VS Traditional MARKETING
|Word of Mouth|
|Website||Reference post experience|
In conclusion, marketing is a very crucial for any company to survive in the market. Therefore, customers should know well about you to reach you. One needs to use different modes irrespective of digital or traditional marketing. Digital VS Traditional will depend on the type of business or the audience or the segmented market.
However, marketing is important because it allows long lasting relationships with the audience. It is not for one-time it is an ongoing process/strategy to be followed. “Customer engagement is the heart of any successful business/firm/company.”
Above all, check out few more reasons which will help you to understand why marketing is so important:
- Firstly, it is the effective way of engaging customers
- Build a relationship between you and the client
- Communication channel used to share information
- Help to build and maintain the reputation
- In addition, it helps to boost sales
- After that, it provides insights about your business
- In addition, creates revenue options
- Above all, it helps the management to take informed decisions.
Why is marketing important in beating your Business Rivals ?
In this paragraph, I am going to discuss how your competitor is focusing on marketing on regular basis and coming up with new offers, products, upgrades & discounts to attract the customers. In other words, the only way to gain a competitive advantage over your competition is aggressive marketing.
However, you don’t have to be negative while marketing specially against your competitor. In addition and most importantly, simply conduct research on what your target market is expecting, and then find ways to deliver better product or services.
In conclusion, if you are offering a new product/service in the market you need to be very aggressive and strategic. Therefore, it will be helpful to sustain in the market.
Stay tuned for more blogs. Thanks for your time. Kindly share your feedback.
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