Marketing refers to activities that a business undertakes in order to promote the sale or purchase of a particular product, service, or even good. In recent years, the New York Times referred to it as “the only discipline that pays for itself”, citing marketing experts who opine that it is one area where “profits are made without any effort”. As such, a balanced combination of marketing strategies and creative branding is highly advised. For companies looking to enhance their online presence, having an engaging website is of utmost importance, and incorporating social media into the mix can help further engage customers.
With so much emphasis being placed on location-based marketing, consumers are now more likely to use online search engines to locate products and services, rather than driving from store to store. The New York Times also highlighted this fact, advising consumers to search for a brand before searching for a product, so that the two would match up perfectly. As such, when consumers are browsing, they tend to glance at the page title, which is then followed by the first sentence and then the link. Therefore, in order to get a company’s message to its targeted audience, a strong marketing strategy is required, which should be clearly defined and developed by a marketing team, which can be consulted for advice.
A strong marketing strategy is important because it will allow a business to establish a niche and establish itself as a leader in the market, which is ultimately what all businesses want. Apart from market penetration strategy, marketing should include promotional activities to increase awareness and interest in the product or service. This includes having an attractive website, providing clear and precise information, ensuring customer contact information is easily accessible and encouraging the purchase of goods and services. Additionally, there are other types of marketing activities which should be incorporated into a comprehensive marketing strategy. These include influencing consumer behavior and creating market loyalty, influencing consumer preferences, influencing behavior, improving brand recognition and image, and increasing brand loyalty.
The four Ps of marketing refer to the primary action of marketing: planning, creating, promoting and controlling. Planning refers to the process of coming up with a strategy, which should be based on the product and target customers needs. Creating refers to the actions taken in carrying out the strategy. Promoting is achieved through the creation of awareness, which is then taken to the public through various media such as print, electronic media, advertising, public relations, and so on. Controlling refers to the efforts made to realize the marketing goals, and finally, promoting, which is often the last component of the four Ps, is the most difficult phase of the process. This is because the ultimate goal of marketing is to influence customers to respond positively towards the business and purchase its products and services.
The four Ps of relationship marketing refer to the fundamental premise upon which marketing operations are based. It is a fact that consumers respond to the tactics that have been applied to them, whether this is a product or a service. What is equally important is the way in which consumers perceive these tactics, and how they affect their lives. The process of advertising, which refers to the tactics used in connection to the promotion of goods and services is referred to as relationship marketing.
There are various marketing tactics and strategies used by marketers. However, it is important for marketers to develop and employ the right strategy in order to reap maximum benefits. Therefore, before embarking on an advertising campaign, it is important to undertake a comprehensive market analysis to determine the strengths and weaknesses of the product, as well as the likely reactions of the public when exposed to the particular marketing tactic.