Marketing is a way of communicating with customers and clients in order to promote products and services and to increase sales. Marketing is the exchange of information and persuade people to make a purchase or at least visit a website. Marking as well as marketing is similar but for marketing it involves more than just verbal or written communications.
Marketing is one of the most important aspects of running a successful company because it is what attracts new consumers and keeps them there. Marketing covers many aspects of selling. It doesn’t matter if you are selling products or services to individual customers or to other businesses. These are only some of the marketing concepts that have to do with selling products and services:
Social media marketing: Using social media such as Facebook, Twitter, YouTube, MySpace, etc., can help in brand building, market research and product development. Social marketing can be very effective when marketers know how to effectively use these social media marketing tools. It is used for generating new customers, improving customer retention and also helps marketers target their audiences. Marketers use social networking sites to find new markets, connect with existing customers and find out more about the preferences of prospective consumers.
Marketing research: Marketers conduct marketing research before selling any product or service. Research helps them find out what their target market wants and the features they would like to have. This marketing research is conducted through focus groups, surveys and online focus groups among others. This helps them compare features of their competitors as well as their own products and services and identify any market problems. Marketers also conduct focus groups to find out what consumers need and want, identify product development priorities and find out what consumers will spend and where.
Advertising and public relations: Advertisements and public relations efforts are important for marketing. Public relations activities may include creating a positive image for the company, featuring positive stories in the press and sending periodic newsletters to current customers. The aim of advertising is to raise awareness of the brand by creating visibility. For example, if a manufacturer releases a new product, it will need to make available samples to attract consumer interest. Advertisements can be in the form of coupons or special deals to win consumer participation.
Coordinated marketing: The concept of coordinated marketing has emerged due to increasing competition and the need for marketers to reach out to as many customers as possible. In this approach, the marketing strategy is aligned with the customer needs. For example, a manufacturer releases a television that has a high definition picture at a price that is affordable. The manufacturer may decide to advertise the product heavily in the market to drive sales and then offer discount offers to customers who buy in bulk.