Marketing is a marketing activity involving the creation of communication with potential customers. It refers to a process by which organizations or businesses create and disseminate information about their products or services to the targeted customer base. Marketing is a process, involving numerous activities that contribute to the achievement of a marketing objective. Marketing is an important element of business activity and involves a number of processes:
Social marketing is the use of social networks as a marketing management tool. Such networks include Facebook, Twitter, MySpace, YouTube, Flickr and the like. These social marketing networks provide a platform through which organizations can interact with their customers, sellers and other stakeholders interested in their products and services. Marketing through social media allows companies to develop long-term relationships and also, at a minimum, to disseminate information. In addition to this, marketing management theory suggests that social marketing can be used as a tool to increase product differentiation.
Marketing Research is based on the marketing concept that consumer perceptions represent the true picture of a product or service offered. Marketing research attempts to understand how consumers perceive the quality and/or uniqueness of a product or service. By conducting marketing research, businesses are able to: identify potential selling opportunities, establish market share levels, establish marketing objectives and generate and track results. Research is crucial in driving strategic decisions and can help in determining which marketing strategies should be adopted. The concept of marketing research is a very broad one and there are many subtopics associated with it. Some of the subtopics are: the marketing strategy definition, the marketing process, measuring marketing effectiveness, understanding consumer’s perspective, identifying bottlenecks, identifying opportunities and reviewing marketing research.
Marketing myopia refers to a narrow view of the market which prevents marketers from seeing the whole picture. This concept pertains to the search for what consumers need and want, rather than what they want and need. For example, if marketers focus on a particular product concept and do not take into consideration the needs of consumers, they may miss an important opportunity. Marketing myopia can result in the prioritization of sales over product concept or services offered, and can result in products and services being offered which are profitable but do not satisfy basic needs.
Selling Process is another important subtopic of marketing research. The process by which consumers make buying decisions requires an evaluation of selling processes. In order to conduct marketing research in a profitable manner, companies must develop a process for effectively selling their products or services to consumers. The process should be a sales process itself and should guide all other marketing activities.
Marketing Research can be divided into two categories; product concept marketing and selling customer orientation marketing. In product concept marketing, the marketing concept is related to the product, while selling customer orientation marketing focuses on the marketing process. The concept of selling customer orientation relates to making changes in marketing processes to take advantage of a customer’s buying decision. This includes the development of a marketing message, packaging, and a distribution plan that will appeal to consumers. Selling message refers to the advertisement itself and includes a description of the benefits of buying a particular product. Packaging includes the layout and format of the advertisement and its claims.