President Obama Knows That Marketing Is An Important Element Of Business
Marketing is the art of deliberately inducing demand for purchases of particular goods and services; possibly including choice of a specific target audience; identification of certain characteristics or traits to be advertised; preparation of appropriate visual or verbal communication; and the production of sufficient numbers of tangible items to constitute a sale. Marketing is also the science of understanding customer behavior and motivation to buy by identifying patterns of behavior that can be controlled or influenced. The distribution of printed materials, for example, is an important form of marketing because it establishes the relationship between the marketer and the consumer. The distribution also sets up the framework for advertising and selling. Marketing is also used in sales promotion. Sales promotion chiefly includes the design and development of advertising and marketing materials; development of sales campaigns; and analysis of results of marketing campaigns.
In business, marketing is also applied in product development, in determining the relative merits of promising new products against existing ones and in providing consumers with additional choices. Marketing involves the process by which organizations promote their products and obtain acceptance for them by the consuming public. Marketing also involves the evaluation of the success of marketing activities. Marketers conduct market research to determine the effects of changes in price, frequency of sale, type of sale, channel of sale and other variables on sales.
Definition of Marketing The Marketing definition continues to evolve over time. Current business objectives may drive marketing decisions, for example, objectives to increase sales, achieve financial success, enhance the quality of management, reduce product dependence, retain existing customers, expand market reach, etc. ; whereas past objectives such as “that the product or service should be available to the maximum number of people” have relatively less definition, and marketing has become more flexible since objectives change with time.
Research in marketing has established that marketing is a process that involves a balance of communication, direct and indirect, with significant involvement of psychology, emotions and feelings. Marketing research shows that marketing tends to affect people before they make buying decisions. For example, some marketers might find out that women, after hearing about an inexpensive wrinkle cream, will purchase a product if it fits into their budget. This information helps the marketer to determine marketing messages that are more likely to influence buying decisions. Marketing research indicates that marketers need to be sensitive to the attitudes, feelings and preferences of consumers if they want to succeed.
Marketing Research President Obama has made marketing one of his main business goals since he came into office. In his first budget proposal the President called for a marketing Research Study to ascertain how market segments were developing and using marketing effectively. To ensure a successful marketing plan, the President called for the establishment of a brand marketing headquarters, to be located in the US. Since then, the business objectives of the Marketing Research Office of the President have evolved. Today, the Marketing Research Office continues to evaluate strategies and products that would help to realize the business goals of the President.
Marketing is a very important element of business; without marketing, consumers would not be aware of the products and services available to them. Marketers use different advertising methods to communicate with consumers, including traditional advertising such as television, radio, magazine advertisements, billboards, the World Wide Web and other print and electronic media. In addition to marketing through the above media, marketers also use social marketing, consumer research and surveys to obtain information on the public’s attitudes towards their products and services. By gathering this data, marketers can develop effective marketing campaigns that will help to increase sales and profits. Marketing is an essential part of any business’s success and by carefully analyzing all aspects of the product development, marketers are able to provide consumers with the goods and/or services that they want and that will enhance the profitability of the company.