What is marketing? Marketing is a systematic approach to advertising and promoting goods and services which creates or discloses information about the market to create interest and support in the buying public. Marketing also refers to the act of shaping a consumer’s buying decision in order to acquire advantage in return for investment. Marketing is the conscious coordination of advertising and promotional activities undertaken with the intention of creating or changing behavior of the buying public.
Changing Buying Behavior
A successful marketing strategy not only builds brand awareness and recognition, but also influences the buying decision of the customer. For example, the writers at Triple Creek BMX have a great influence on the type of bike their readers will buy when the time comes. This means that marketing research should be conducted on and off the marketing budget, as is necessary for the development of new products and improved goods for sale. The design and development of packaging, collateral, advertising and other marketing strategies are carried out in conjunction with market research to determine the interests and buying habits of the target market. This helps to determine the products and services that will sell best.
The Job Of Marketing Manager
Marketing managers plan the timing, methods, place, and manner of selling their products. They decide the positioning of the selling structure to obtain the greatest amount of sales. The selling methods employed include various kinds of promotions including displays, direct mail, promotional discounts, and publicity campaigns. Marketers also conduct interviews and surveys to gain information regarding the buying pattern and buying preferences of consumers. These data are used in designing marketing strategies that will yield the greatest amount of sales.
The process of marketing involves the study of buying habits and the reactions of consumers. The marketing manager should be able to establish and employ a specific marketing concept and apply it to his/her organization. The marketing concept is the identification of the buying pattern and the corresponding action. For instance, there are some people who may react positively to a television advertisement while others will not. An advertising campaign may prove very successful among one group of people, but useless or even harmful for another. Thus, marketing managers must consider all relevant factors to formulate appropriate marketing concepts that will be applicable to their organization.
Using Quality As An Attractive Attribute
There is a high-quality product concept that is being used by most companies. High-quality products are sold in large quantities because they are of a high-value. These products are also sold on a regular basis, which is a crucial element in the longevity of any product. A high-quality product concept is one in which the selling concept does not center on the price per item, but on the value of the product itself. This means that when a consumer purchases a product he should expect the same value out of it as he would from a product that is of a lower quality.
Marketing Concept Vs. Marketing Strategy
A marketing concept holds a customer’s interest through the use of strong advertisements. Most companies rely on advertising in order to maintain and increase their customer base. The cost of these advertisements depends greatly on the competition in the market and the level of consumers competing against a particular product. In addition, this factor also factors in the marketing management of the company.
A marketing strategy is essentially a marketing plan that is utilized to attract customers and increase profits. Different marketers have different ideas on what the proper marketing strategy should be. The bottom line is that marketers should be able to recognize their target consumers, set goals, and create plans that will help them accomplish their goals. It is also necessary for marketers to learn how to make their business stand apart from competitors. This can be accomplished by making advertisements that are eye-catching and fun. Another important factor is that marketers should be consistent in their efforts and create marketing campaigns that will ensure that their consumers remain loyal to them.
All things considered, marketing management is a vital element of the successful operation of any type of business. Businesses that are able to properly manage their marketing schemes stand a higher chance of surviving and thriving than companies who do not have an effective marketing management plan. It is important for businesses to understand that their marketing concept is at the foundation of how that particular business benefits from consumers. When consumers are happy with the services or products that they receive from a business, they tend to tell others about their experiences. Word-of-mouth advertising is an extremely powerful marketing concept. As long as marketers continue to provide consumers with quality goods and services, word-of-mouth marketing will continue to benefit their businesses.