Marketing:
What is
marketing? In a creative market industry – to make a plan for any particular product and services and to execute the same including its advertising, distribution and selling. It is an ongoing process of mixing well made market plans known as
marketing mix (combination of 4 Ps - Product, Price, Place and Promotion).
So, directing an organization or firm to sell any product or services according to a pre-planned process that people are highly willing to buy is known as "Marketing". Therefore, a
good marketing plan is that by which the consumer, end-user or customer as well as the owners are benefited equally in a standard proportion.
Levels of Marketing:
Strategic Marketing: To make a marketing strategy against its competitors in current market scenario to compete the cut-throat market situation and activities. So, generating profitable advantages by making unique strategies over its competitors is known as strategic marketing.
Operational Marketing: To execute a planned marketing functions and operations to attract new customers and retain existing customers and by this way maximizing the profitability conditions as well as satisfying the customers or end-users expectations.
Marketing Goal:
A
marketing goal is a written and approved marketing strategy to move ahead and maintain company’s preferences and its profitability constraints in current target market. Building mutually sustainable and profitable relationship between any business and its customers is maintained under marketing domain. The
marketing domain is uniquely bears a role and responsibility over all other business domains.
To decide accurate
target market for any business is not so easy task for strategy makers. They have to analyze whole current market innovations and enhancements regarding likes and dislikes of target customers and have to make collective decision to promote its products and services having target market in their mind. To achieve the marketing goals strategy makers divide the whole market into different segments and target that
market segments according to its customers behavior, weather conditions, transport facility and political environment. Leading marketing behavior by this way is known as
market segmentation.
Marketing Research:
To know the consumers or customers expectations and their likes/ dislikes and to determine what they want and are willing to pay for their particular product and services, every top marketing company have
marketing research team who do research on market trends by both formal as well as informal way. And on the basis of these collected market trends, they prepare
marketing management strategy and follow it to achieve the company goal in time. Once a marketing agent has converted the prospective buyer into purchaser, base marketing role takes over.
In present marketing scenario, concept of
"Four New Ps" has come into consideration i.e. Personalization, Participation, Peer-to-Peer and Predictive modeling. We can either market our product or market our company itself. When a marketing policy comes into consideration to promote the company then it is known as
"corporate marketing" and when a marketing policy comes into consideration to promote company’s product and services, then it is known as
"product marketing".