Marketing and its Iportance
Marketing and its Iportance:
Marketing applies to the practices that a business undertakes to facilitate the sale and purchase of a product and services. Marketing requires advertising, selling and delivering products to the consumers or other companies. Some promotions are carried out by the affiliates on the behalf of the organization. Professionals working in the marketing and promotions divisions of a company aim to gain the interest of the key potential customers through ads. Promotions are aimed to certain markets and can include celebrity endorsements, catchy phrases or slogans, memorable packages and graphic designs and overall media visibility. Marketing as a discipline encompasses all the activities that a business undertakes to participate in and establish relationships with consumers. Networking with future or past clients is often part of the job, which can include writing thank you notes, playing golf with prospective clients, returning calls and emails quickly, and meeting with coffee or meal clients. In the simplest level, marketing aims to put the goods and services of a business into line with those of consumers who want access to those goods.
Product, price, location and promotion are the four marketing Ps. collectively, the Four Ps make up the basic combination that a business wants to sell a product or service. Neil Borden popularised the idea of the marketing combination and the Four Ps model in the 1950s.
Marketing is important because it helps companies to establish long-lasting and ever present relationships with their customers. It’s not a one-time fix, it’s an outgoing practice that helps companies succeed.
Marketing is a vital strategy for ensuring the growth of your company. Although your current customer should still be your highest priority, your marketing strategies will help you grow this foundation. No effort, such as social media posts and email promotions, will not only engage existing clients, but spread the message to potential new buyers. In essence, marketing secures the future of your company through new and old customer interaction.
Goal of marketing:
Broadly speaking, marketing priorities can be broken down into five main areas: raising brand awareness high quality leads, cultivating and sustaining strategic leadership, growing customer trust, and inspiring your colleagues to become brand ambassadors.
There are many types of marketing including influencer marketing. According to the Association of National Advertisers (ANA), influencer marketing focuses on exploiting individuals who have an impact on potential consumers and focused marketing campaigns around themtopush a brand message to the broader market.In influencer marketing, rather than marketing directly to a large group of customers, a company inspires or compensates influencers (including celebrities,content creators, customer advocates, and employees) to get the message out on their behalf.
According to the association of national advertisers (ANA), relationship marketing refers to techniques and methods for gaining customer loyalty.
Viral marketing is a marketing phenomenon that promotes and encourages people to send a marketing message. Just like the process of transmitting a virus the products also gets viral by promoting. It is a promotional tactic involving organic or word-of-mouth knowledge about a product or service to be disseminated at an ever increasing pace. The internet and the rise of social media have massively increased the number of viral messages in the form of memes, share, like and forwards.
Green marketing refers to the production and marketing of goods that are perceived to be environment friendly (i.e. intended to mitigate harmful effects on the physical environment or to increase its quality). This term can also be used to define efforts to manufacture, market, package and recover goods in a manner that is sensitive or responsive to environmental concerns.
Keyword marketing includes putting a marketing message before consumers on the basis of the unique keywords and phrases they use to search. A main benefit of this approach is that it allows advertisers to reach the right people with the right message at the right time. For many advertisers, keyword marketing results in the position of advertisements when those keywords are entered.
Guerilla marketing describes an unconventional and creative marketing strategy intended to get maximum results from minimal resources.
Guerrilla marketing is an advertising technique in which a organization uses surprising and /or unexpected encounters to sell a product or service. It’s a kind of advertising.