Marketing Management Concepts

Marketing is a broad term that is used to refer to a variety of activities designed to promote a product or service and create awareness among potential customers to encourage their purchase. Marketing is one of the most effective ways to communicate with customers and shape their buying decisions. It is also one of the most difficult and time-consuming ways to market a product or service. In order to be effective it is essential to carefully plan marketing activities.

Marketing is the process by which organisations create awareness, build loyalty and market a product or service. There are many different types of marketing activities, including media marketing, personal selling, branding, selling a product, advertising, and public relations. These marketing activities all have different objectives and effect. Some marketing research will focus on one objective such as product positioning or selling a particular service or product.

Organised marketing refers to the process by which an organisation undertakes to address its target market, build effective relationships with customers to generate more profit, and address their needs. The most successful marketing activities are those that are coordinated and executed in a manner that maximises the opportunity to influence customers to make a purchase. This concept is very similar to the concept of customer satisfaction, which is the focus of most modern marketing research. A coordinated marketing program consists of the development of a marketing strategy, monitoring activities, measurement of results, and improvement of process and structure. The marketing strategy will address the target market, the available channels for delivering the product or service, and the defining of the distribution channels. This concept can be implemented through various activities such as product positioning, where marketers to position products or services in a way that maximizes their opportunity to influence customers to make a purchase.

The marketing concept is also applied during advertising, which is another important component of the overall marketing programme. Advertising is one of the most effective ways to communicate with consumers and influence their buying decisions. However, because of marketing myopia, marketers often choose to advertise products or services in a way that does not effectively represent the benefits that they can provide to consumers. For example, many marketers fail to take into consideration the fact that a consumer may not be convinced by a single advertisement and may change their mind after viewing a second or third advertisement.

Another important concept used in the overall concept of marketing is the selling process. This concept focuses on creating and nurturing customers, engaging them in the buying process, and converting these consumers into loyal repeat buyers. Marketing research shows that consumers are more likely to buy a product if they feel that the company understands their needs and issues, and has made efforts to address these needs. A strong selling process will include identifying the purchasing needs of the customer, describing the benefits of the product or service, and explaining how the product or service will help customers solve their problems.

Marketing myopia refers to the tendency to focus on too many marketing concepts and to neglect the impact of marketing programs on society as a whole. Many marketing management strategies such as advertising are influenced by this myopic perspective. In order for marketers to be successful and meet their goals, a balanced approach to marketing must be used that considers all marketing concepts simultaneously. The use of multiple marketing concepts is called societal marketing, and when properly applied, it can strengthen and even create a sense of social responsibility amongst consumers. In addition to this, marketers must use effective communication tools such as advertising in entertainment venues such as television, radio, print, and the Internet to reach target markets effectively.