Marketing is a catchall term, referring to a number of activities undertaken by businesses in order to promote their products and services to potential customers. Marketing is also the science of discovering and creating a market for a product or service. Marketing is a tool used by businesses to develop and advertise their products and services in the marketplace. Marketing is the practice of knowing what your customer needs and finding a way to meet them. There are four primary marketing techniques:
Defining Marketing Management
Traditional marketing management refers to the act of setting the sales objectives, researching markets, developing marketing strategies, measuring and monitoring results, and communicating the results. Social marketing refers to these same activities in a more social context; using online communities as a platform for conducting business. In addition, traditional marketing involves the research, development and management of marketing programs. Finally, the fourth marketing concept, called societal marketing, incorporates elements of all four disciplines. Digital marketing involves the use of SEO practices to reach a consumer, which often includes targeted keywords. This means if an internet user is searching for inspiration on what tattoo to get, a parlour may be creating content that focuses on the words “tattoo ideas for you”. This means that the search engine will better be able to answer search queries, and drive traffic towards a website or social media account.
The key selling proposition (SPMP) of any marketing concept is typically a call to action. This is a clear statement that clearly states what the customer can do today to take advantage of the offer being made to them. The SPMP is an element of the marketing management process and represents the primary reason for using the concept in the first place.
Marketing Strategies
Marketers will then develop marketing strategies, or marketing concepts, in order to use these strategies to reach their goals. Marketing strategies refer to the ways in which consumers will be exposed to a product or service. For example, advertising on television has been identified as one of the most effective marketing strategies. Advertisers place commercials on television for a specific length of time – thirty minutes, forty five seconds, or ninety seconds – in order to get the attention of viewers. It is these advertisements that marketers use to attract consumers to their products.
Researching The Market
Marketers conduct marketing research in order to determine the effectiveness of their marketing activities and will experiment with different advertisement formats in order to find one that is most effective. The research can also determine how well the product being offered will meet the needs and interests of potential consumers. This information is used to help create marketing strategies that will help product development professionals create successful selling programs. During the development phase, marketers will experiment with various aspects of the product, such as its feel and texture, the color and content of packaging, the cost and availability of consumer goods, and even the service and support offered by the company.
The results of the marketing research are then used to formulate marketing programs that will reach the target audience and create success for the company. Many marketing companies offer influencer marketing services that involve placing ads on individuals’ websites and social media accounts. In influencer marketing, a marketer seeks to influence consumers through the use of online resources. An influencer uses the information gathered from the marketing research to shape the product or service that is developed based on the recommendations and feedback of other consumers.
Marketing Concept
Developing the marketing concept is the first step in reaching consumers. Marketers research a variety of different elements in order to decide what a product concept is and how to reach consumers. The marketer will develop a concept, or overall theme, that will be reflected in the website, advertising campaigns, and product packaging. The theme that is developed will be important in helping to attract consumers. It can be based on a specific demographic, a set of products, or a particular industry.
Once a firm develops a marketing concept, marketers work to improve it through research and development activities. Improvement should include incorporating new ideas and insights, and making sure the concept is effective. Marketers will continue to work to improve a product concept over time, but marketers must always keep in mind that it is just a starting point, and that it may not necessarily be perfect. As marketing myopia becomes more common, companies that specialize in marketing will need to invest more time into developing new concepts.
