Marketing is the process by which organizations create and deliver value to their customers. In marketing it is the act of creating a favorable impression of the organization to its potential customers, and communicating the benefits of the organization’s offerings to those who are considering buying. Marketing is used as a way of identifying opportunities, identifying the competition, and selling products and services. The objective of marketing is to increase sales, take losses, reduce cost, and influence behavior. Marketing is an integrated process involving research, analysis, and the development of marketing strategies.
Marketing has many layers, with each layer bringing additional insight and knowledge about the target customer. One can easily divide marketing into three different categories, targeting, product concept and sales. Marketing therefore has two concepts, one internal, one external, and one hybrid concept. Internal marketing focuses on what customers want, whereas marketing myopia results from external marketing techniques used to promote products and services.
Internal marketing focuses on developing the company brand and selling the customer through associations, commercials, and other forms of marketing. Marketing myopia therefore means marketing only to those consumers who will be interested in what your organization is selling. Sales marketing, on the other hand, seeks to reach all consumers and sell products or services to them. Sales marketing is the practice of selling to all markets, irrespective of geographical boundaries and season of the year.
Marketing managers use several marketing concepts to reach all possible markets. In addition to these marketing strategies, marketers also develop market segments and target specific consumers. Market segments include demographics and product attributes. These allow marketers to allocate appropriate marketing dollars in areas where they will have the greatest impact. Marketing marketers also develop marketing plans that will be used to reach specific groups of consumers. For instance, a product marketing plan may be designed for young men between the ages of eighteen and thirty-four, targeting teens, and a marketing plan targeting mothers in the ages of eighteen to forty-four, targeting married women with children, or any other group of consumers identified by the specified criteria.
Marketing managers use marketing concepts such as branding, social marketing, and contextual marketing to influence consumers. Branding is the process of associating a unique selling proposition or name of the organization with the product. For example, if you are a clothing retailer, your selling strategy should not just be “shirts,” but “sold shirts,” “hats,” “bags,” or any other description that makes the selling object clear to the public. Social marketing is a technique used to improve the reputation of an organization by participating in various community activities, including sponsoring festivals, serving on city council committees, and hosting fundraisers. Contextual marketing refers to using advertising media that are geared towards meeting the needs of the target audience. For example, a television commercial that features a mother breastfeeding her child can be viewed by many people, but it would most likely be seen by a specific demographic of individuals who are in the target demographic.
The strategies used in marketing research are most effective when they are integrated with other types of selling techniques and activities. These include traditional direct selling, through agents, or by organizations that specialize in direct mail, telemarketing, and other strategies. Marketers must also use creative marketing tools to create and develop compelling messages, develop effective advertising and marketing campaigns, and develop plans for customer retention and development. By combining traditional direct selling with new creative marketing strategies, marketers will be able to effectively promote their products to new target audiences.