When we speak of marketing we generally think of a business that sells a product or service and acts as a catalyst to get that product or service to its intended customer. Marketing is about getting the word out about a product or service. However, it also includes aspects of the distribution of that product or service, including research, design and promotional activities. Marketing therefore covers a very wide area of activities that are designed to drive sales.
Marketing is one of the important ingredients for the success of any business. But, it becomes even more essential for a business that is selling a product or providing a service. Marketing helps companies in creating awareness, opening new markets and increasing brand loyalty. Marketing also involves planning and strategizing for sales and marketing activities. Apart from these marketing activities, there are many other activities that help a company in selling its products and generating revenues.
A company can make use of different marketing strategies to increase sales and create consumer demand. Marketing strategies can be developed according to the type of product, services and organizations that are selling. A company can develop its own marketing strategy through a coordinated marketing program. In this scenario, several companies share resources and time to carry out marketing activities that meet the specific needs of each organization. Companies also cooperate with each other on a common set of objectives and shared goals.
The objectives of marketing management vary according to the nature of product and organizations selling. The objective of social marketing, on the other hand, is to promote the welfare of society as a whole through marketing techniques. Consumer marketing, on the other hand, focuses on developing customer satisfaction so that they remain loyal to a particular firm. The objectives of marketing management are different for different types of products and services sold.
Marketing research is a part of all marketing activities. It helps in formulating marketing plans and establishing priorities among a variety of factors that have an impact on the marketability of products and services. Marketing research helps to assess the profitability of marketing activities by tracking and measuring consumer reaction to marketing strategies. Marketing research is conducted by the marketing firms that form part of the Influencer Marketing Network.
The concept of Influencer Marketing Network is a network of organizations, which uses the influence of various individuals and companies for mutual marketing purposes. This is a great way to implement marketing ideas and concepts. It helps to align marketing activities with the interests of consumers. It also helps to create new ideas, which increase sales and strengthen a firm’s position in the industry