Marketing, also known as advertising or promotion, is one of the oldest forms of communicating and selling. It includes the use of physical symbols, such as flags, billboards, banners, cards, and other signs, to let others know of services and merchandise offered by a particular firm. It also includes the creation of an image, which is often perceived by the public as representing the company. Marketing has several basic elements, which are used in almost all types of marketing.
Marketing is the strategic process of consciously stimulating increased demand for and sales of products and services; and, possibly, including assortment of a target consumer’s choice of characteristics or traits. The primary aim of marketing strategies is to enhance sales and thereby profit; but it should also lead to increased awareness and acceptance of products. Marketing theories, through research, attempt to uncover the needs of consumers, and to create them by understanding the psychology of buying behavior. Marketing management seeks to apply scientific methods in achieving these goals. Marketing management concepts, through research, attempt to uncover the needs of consumers, and to create them by understanding the psychology of buying behavior.
Advertising, in the broadest sense, is defined as the communication of information to the public in support of the sale of a product or service. However, there are many marketing concepts that overlap; the main idea is that selling is not just about creating the product or service, but also selling the benefits of using it. Advertising, through the marketing research, will seek to highlight these benefits. Marketing management will then employ techniques to convince consumers that they need the product or service and will be willing to buy it.
With advertising, marketers focus on defining the message, making sure that it is understandable and memorable. Marketers will create visual aids that explain the benefits of a product to the target audience. Marketing research plays a crucial role in defining the message and the effectiveness of the advertisement. As mentioned above, marketing strategies will determine what tactics to use to ensure that consumers get to know the product. Marketing research will include studying consumer behavior, studying customer preferences, analyzing target markets and learning about the demographics. All of these tactics build towards finding the most receptive consumer market.
In addition, marketing research will also include studying the product development process. Marketing activities such as product development, research and testing are crucial in the success of any marketing campaign. Marketing activities like testing, though, should not be underestimated. Tester will help find bugs in the software before launching it to the general market. Testing is also essential for finding out the viability of the new product. Marketing managers will conduct product development activities such as interviewing customers and prospecting for clients.
After all, even if the new product concept is successful, there is still need for marketing activities to be conducted to ensure that customers are aware of the product and willing to try it. Marketing managers will engage in face-to-face marketing activities with customers in order to spread the word. They will also do consumer research in order to find out which customers are receptive to the concept and which ones are resistant. Finally, marketers may conduct surveys to understand customer needs and preferences. Marketing research and development managers will conduct a number of surveys to gather data on customers’ thoughts and opinions on different aspects of their marketing campaigns.