Understanding The Concept Of Marketing Myopia

Marketing is the act of deliberately creating demand for products and/or services; possibly including broad range of choice of an intended target audience; selection of specific attributes or themes for promotional materials; and the use of marketing techniques to promote an offered product or service. In simple terms, marketing can be defined as the utilization of advertising media to promote services and/or products. Marketing is also the practice of attaining financial gains by means of the creation of demand, with the involvement of an extensive variety of instruments, including the marketing of information. Marketing is used in all types of businesses, not only those of the physical products industry. There are a number of marketing strategies such as the following:

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Marketing Management The marketing management concept focuses on the development of product or service awareness, through comprehensive and focused exposures. The key marketing management concept is to build and maintain long-term relationships with prospective buyers. It includes active participation by the marketer, to generate sales interest. This concept is usually utilized for the selling of social good, such as the alleviation of poverty, or the promotion of awareness of health and wellness. Marketing managers seek to make their products and/or services readily accessible, so that the prospect(s) can make a decision on buying, or not before having carried out research. The marketing manager is usually involved in the planning and the development of the marketing strategy, in order to ensure that it meets the objectives of the company.

Marketing Research As mentioned above, marketing research involves in-depth analysis of potential customers, to gather information on the product, target market and potential channels of distribution. The data gathered from marketing research may help the marketing manager determine the effectiveness of various selling techniques and marketing activities. Marketers typically conduct marketing research during the initial stages of product development. The data gathered from marketing research can help determine the financial feasibility of offering a new product, service or technology to existing customers.

Marketing Research and Customer Needs Marketing research is conducted to assess the target market, to see what type of products, services and offers are likely to be popular among them. It also involves studying the buying behavior and consumer preferences to analyze the purchasing behavior and consumer preferences. One of the most important aspects of marketing research is to determine the customers’ needs and wants. By understanding the target market and understanding the buying behavior, marketers will be able to provide a better selling experience to their customers. The study of market trends helps determine what type of marketing concept will be most effective for a given business.

Selling Motivation Research is conducted by marketing organizations to examine the motivation of consumers to purchase a product, while studying its benefits and features. This concept involves studying and identifying the emotional response of consumers, to increase the chance of increasing conversion rates. Marketing research can help identify problems and inconsistencies in the selling process, which can then be used to improve the process. This concept enables marketers to address the key selling points, to strengthen the firm’s position in the market.

Consumer Reviews Marketing myopia affects both sellers and buyers. It is important to conduct consumer research to evaluate the overall performance of the company. This concept of marketing myopia involves studying the consumer reviews about the company, to determine the overall satisfaction level by the consumers. Reviews provided by users on websites can also be useful, as they reflect real user experiences.