Marketing

Marketing is comprised of the strategies and tactics employed to identify, create and maintain successful relationships with customers that produce value for both the customer and the company.

It is a societal process necessary to discern consumer wants, that focuses on those wants as well as to motivate prospects toward the company’s products or services.

Without marketing, there would be no commerce

Marketing is fundamental to the development and growth of any business enterprise. The marketing team has the challenge of creating consumer awareness of the company’s products or services and then to create ‘preference’ over competitive offerings in the consumer’s mind. Marketing generally depends upon services such as advertising, public relations & publicity, sales promotion, trade shows, market research etc., in order to communicate company ideas, generate sales inquiries and develop sales. On the Internet, marketing also involves an understanding of functions like database marketing and search engine marketing which are vital to the marketing mix if online buyers are to be obtained. Briefly stated, the steps in marketing include: Developing strategies and tactics; identifying marketing niches and opportunities; creating new ways to identify, reach and motivate prospects into becoming customers; maintaining customers by great customer service, price advantages, etc.; satisfying relationships by providing products customers really want and building a good relationship between customers and the company; and providing value for both the customers and the company.

There are two primary levels of marketing

There are two main levels of the marketing process: Strategic marketing and operational marketing. In the strategic level, the challenge is how to determine the way an organization should compete against its competitors in a chosen marketplace or niche. Specifically, it is focused on developing and maintaining the competitive advantage. In the operational level, functions are executed in order to attract and retain customers (repeat business), as well as maximize the value for them through prompt, efficient services and meeting or exceeding customer expectations. Operational marketing also determines the marketing mix.

How do companies implement marketing?

Within most good-sized organizations, marketing functions are directed by a Vice President or Director of Marketing. In the very-large US corporations, there is also a Chief Marketing Officer who reports directly to the Chief Executive Officer. In smaller firms, necessary marketing may be carried out by the sales manager working in concert with his advertising manager or, in one-man organizations, by the owner himself. Whatever size a company is, if it sells a product or a service, some marketing must be done.

Marketing online is a growing industry

The advent of the Internet and the very-rapid proliferation of online business organizations have made specialists in online marketing much in demand. While Internet operations still depend upon proven marketing methods, there are many Internet-specific differences that must be addressed. With the Internet, marketers must adapt to a broader perspective on personalization, participation, peer-to-peer and modeling principles. They must also understand things such as search engines, optimizing websites for maximum traffic, keyword utilization and Internet-specific advertising methods.

Many Internet marketers are now sought out as freelancers or independents that maintain their own websites for the purpose of securing opportunities from companies who outsource their Internet marketing needs.