Marketing is the process of creating communication, delivering and exchanging an offer that gives the value to clients and customers. Marketing is defined as “the activity” by the American Marketing Association. Basically, the term “Marketing” doesn’t mean mean to go market with some kind of staff for sale. Marketing is a management which identifies, anticipate and satisfy the customer with their profits. Marketing is a combination of P’s
- Product
- Pricing
- Placing
- Promotion
- People
- Packaging
- Positioning
Marketing is the processes in which you can bring a product to market to include these steps; Marketing segmentation, pricing, and promotion strategies, developing communication skills, market research, determine distribution, and vision for long-time market development goals. There are many parts of the marketing process “e.g. brand management, advertising art director, product designing etc”.
Marketing Concept
The marketing concept is to satisfy the organizational objectives, an organization should accept the needs and wants of the customer. In marketing you have to understand about these concepts
- Needs Necessity of Peoples to live a healthy, safe, and happy life, when needs stay unfulfilled adverse outcome: dysfunction or death.
- Wants Something which is not necessary, but that is your desire or wish. Want are not essential for life survival.
- Demands When the needs and wants have backed the ability to pay. Then the potential to become economic demands.
For the developments of product and improvement of the product, the marketing research is conducted. It is directly related to the consumers need. Customer’s needs are beneficial to market segmentation it is related to dividing market to different categories of customers on the basis of different desires for customers that might buy separate products or who may buy marketing mixes.
Needs-based segmentation “beneficial segmentation”, “place the consumer’s desires at the forefront of how a company works or how its desire and marketing products and services”. Although need based segmentation is not easy to do in practice, it is one of the most effective ways for segments a material.
Designing is the best way of and how it will fulfill advertises and promotion to show how this product or service is beneficial for customers and how it will fulfill customers desires.
What is Marketing Orientation?
Marketing orientation is the philosophy of companies which focuses on developing and fulfilling the needs and wants of its customers through its products. In past marketing concentrated on establishing selling points for existing products, orientation works in an opposite manner.
Importance of Marketing
Marketing is the heart of the business. Most of the business based on successful marketing, It advertises the products or services. The overall marketing umbrella covers advertising, communication, promotions, and sales. Marketing is a process by which a product or service is introduced to all over the world and without marketing your company may offer best product or service in your industry but none of your potential customers, targeted by Advertising media or salesman will know about your product or service. Without marketing of your product sales may crash or company may have to close.
Getting word out
For a successful business, the product or service must be providing awareness to buyers. You have to use marketing strategies to create product or service awareness. Without marketing, your customer may never know about your business offers, and your business may never give progress and success. Marketing gives you an opportunity to promote your product, services, and company, with the help of marketing your business have a choice to build up and promotes more than your competitors.
High Sales
If your product, service or company should get a place on the radar screen of your prospect, it increases your chance that customer will make a buy. Awareness is a reality and main focus of high sale. If customers are not aware of your product, service or company then how they buy something and how your sales will high. Awareness is a point where new customers start to spread the word. Your sales will highly increase as the word spread. Without marketing these sales may not happen, without sales, a company or business cannot succeed.
Healthy Competition
An environment is fostered by marketing in the marketplace for healthy competition. Marketing can make out on the pricing of products and services which not only reaches the potential consumers but also it reaches the door of competitive companies. As opposed to those companies which have a rich control of products and service those companies can charge any price. Marketing help to keep pricing competitive for a company or business to try to win over consumers before its competitive does. Without competitive, the well experienced and famous companies have no fair loss they can easily sell, on the other side the newly established company have a little chance to succeed. Marketing gives the healthy competition that allows the small or new business to be successful. Enter and grow your sale in the marketplace places
Reputation For Company
The reality is reputation is the success of a company or business. Marketing introduces the product and builds the brand name of the company. When a company gets to believe in the public and reaches the high expectation of the public its reputation builds up, business will expand and sales will increase. If you want to build your company reputations and you want to increase your sell, then you have to focus on quality able products or service, your communications should be effective, you should participate in active communicative programs.
Consideration
Marketing is very important in business as above I discussed marketing is the heart of the business, it is very expansive. In the beginning, a company might spend as half of its sales on marketing programs. After some time the marketing budget can reach 30 percent (sometimes more) of the annual sale. Your company can get the best chance by marketing, as like; public relations, designing and printing for all print materials, website development, print and broadcast, advertising trade shows etc.