Marketing is not only about creating new products or services but also improving the existing ones through better visibility and a wider customer base. Marketing refers to the entire process an organization undertakes in order to engage its prospective target market, establish rapport with them, create value for customers so as to recoup value at the end point, and drive sales growth. In short, marketing is about creating a need and fulfilling it by using all available channels. A marketing strategy may be complex and costly but when carried out effectively it drives positive results.
The Origins And Evolution Of Marketing
Marketing as a concept is not new to us. In fact, the concept of marketing dates back to the time when people used to consult the images of oxen to know what kind of grain was ripe for picking. The concept of selling has evolved into one of the most powerful concepts that drives business activity around the world. Selling is an act of establishing and maintaining a relationship with consumers which enables them to get what they want while buying a product. This process is done by influencing them to make a buying decision based on several factors including the features and benefits of the product, price and brand name. Nowadays this includes content creation and luring readers/viewers by using creative headlines. In fact, many marketers make use of the AMI institute headline analyzer to ensure that they are doing it well.
Challenges Of Marketing
There are several challenges that face organizations today. One challenge is marketing myopia which refers to a common tendency amongst marketers to focus on features of a product rather than the consumers who will use them. Marketing myopia reduces the scope for consumers to make buying decisions. Another challenge faced by organizations is product concept which is often conceived as a universal concept which can be applied to any product regardless of its nature. Unfortunately, this does not lend itself to any sensible marketing strategy as the concept of marketing becomes abstract and loses its specificity.
A critical marketing management principle is to identify the unique selling proposition of your product or service and then specialize in marketing it according to the targeted consumer group. However, many organizations fail to apply this principle to their advantage as they end up selling exactly what everyone else is selling rather than catering to the needs of specific groups. This diluted strategy decreases the impact of marketing concepts on the target group and hence results in failed sales. On the other hand, specialized marketing management processes help organizations to build on strong marketing foundations which allow them to cater to specific needs.
Illustrating The Ideal Marketing Concept
For example, a good marketing concept should have both selling techniques and marketing strategies built on the same idea. In fact, a marketing concept should have both selling techniques and marketing strategies built on the same idea. When you take this approach, you will find that your product or service has been marketed on a number of levels and hence reaches a wider audience. Moreover, there will be a coherence in your message across all the levels of marketing. Here, selling customer orientation comes into play as your consumers will relate better to your message when it is in the form of a theme.
The Importance Of Organization Structure
Organizational structure is one of the most important components of a good marketing concept. This is because it drives a sense of purpose and direction in an organization. The most important aspect of satisfying consumers is keeping them satisfied and this is only possible when they know what to expect from you and are on the right track to achieve this. Hence, in order for your organization to establish a coordinated marketing concept, you need to build on strong organizational elements such as company culture, quality standards, quality leaders, balanced boards, competent managers and competent marketing professionals.
Customers are the key drivers of any business and the driving force behind customer satisfaction. Hence, a well-designed marketing strategy should be able to address the needs of your customers in terms of what they want and expect from your product/service. The importance of marketing concepts cannot be over emphasized. If consumers are not satisfied with your product/service or if your customers are not happy with the way you have treated them after buying your product/service, then your reputation would suffer and this can have a significant negative effect on your overall business performance. Hence, in order for your organization to establish a well-structured marketing strategy, it is imperative that you consider how your marketing efforts could affect your customers.
Data and Surveying
One of the important components of a well-structured marketing campaign is the collection of data and survey information on the present marketing strategies in place. This data and research will help you understand the current trends in marketing, consumer behavior and buying behavior, and the feedback you get from your consumers. Once you have collected the needed data and information, you can then use them to formulate an effective marketing management strategy which will help you improve upon your current level of marketing performance. Further, these data and information can help you make effective changes in your strategy without having to change the marketing programs currently in place. With this information and data at hand, you can easily devise a marketing management plan that is capable of addressing the changing trends in the market.
