Aspects and Definition of Marketing
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Marketing includes advertising, selling, and delivering products to
people. The market department try to get the attention of target
audiences by using slogans, packaging design, celebrity endorsements
and general exposure in the media world. Objectives, strategies, and
tactics - these are the parts of a solid strategic marketing plan.
In order to achieve this the marketing mix must be put into use (the 4
Marketing is not about providing products or services it is
essentially about providing changing benefits to the changing needs
and demands of the customer' (P.Tailor 7/00)
In order for your business to sell its products and services as
successfully as possible, you need to look at what products you are
selling in detail to ensure they will be attractive and needed; the
price to ensure it is not too cheap or too expensive; where you are
best distributing your product; and finally, how you can create
interest and awareness for your products. All these elements need to
be targeted at the right people at the right time. In order for your
business to tackle this correctly, you need to get the right type of
mix (marketing mix), the mix should include four main elements:
Product, Price, Place and Promotion, by examining each and carefully
and adapting them to your customer's needs, you will continue to
produce and needed products and services.
You need firstly to identified who will be interested in buying your
products and services, this should be identified once you have
analysed the results of the market research. Your market research data
will be able to look more closely at what your market want and then
look at your products to see if they are satisfying your customer's
needs. Examine your packaging design, materials used, size and
quantity. By analysing the market and its requirements, you will be
able to change the product or develop the product in order to match
that requirements of the people you are aiming at.
Place simply refers to how you will sell your products to your
customers. Depending on what it is you are selling will directly
influence how you distribute it, and it affects mainly those
businesses that are in production.
When setting a price on a range for your products, you need to ensure
that you can recoup any overheads, compete with rival companies and
charge a price your customers are willing to pay.
To make your customers aware that your products exist, there are a
number of methods you may choose to use, they include:
* Media Advertising (television, magazines, Internet, radio)
* Personal selling (involving a sales person)
* Non-personal communication (persuasion advertising - competitions,
* Other promotional types include public relation exercises and free
Promotion needs to be carefully planned, and it is usual to decide on
a new promotional plan each year.
The main forms of advertising are:-
* NEWSPAPERS AND MAGAZINES
* TRAVEL TRADE PRESS
* EXHIBITIONS AND TRADE FAIRS
There are many methods of promotions now but when advertising was
first introduced on television it was a big issue. Advertisements were
being seen from a new point of view. Instead of just billboards or
posters that the businesses used to use to promote, there was a moving
life form on screen. This way the businesses could get more
information across to the viewer, because there was movement, visual
and audio involved. The first advertisements were dull and uncreative.
This started the marketing trend of which it is today.
For each product/service there is a Target Audience
A target audience is an identifiable group of people that could
benefit from purchasing your product. You can define your target
audience(s) according to some combination of behaviour, demographics,
psychology, and/or social influences. You are likely to have several
potential target audiences; focusing on those you can most profitably
help. Marketing to a target audience involves understanding how you
can help them, developing effective messages, and then reaching them
via appropriate tactics. By using this approach you can focus your
resources on tactics that are most likely to increase sales for your
business. Hence, earning the greatest return from your marketing
In order to find a target audience or promoting a product successfully
the business will complete market research.
Market research is a collection of data, the aim of which is to
understand better what is happening in the market place. As the
marketing department of a business needs to know about consumer views
and economic trends.
Various methods of market research are used to find out information
about markets, target markets and their needs, competitors, market
trends, customer satisfaction with products and services, etc.
Businesses can learn a great deal about customers, their needs, how to
meet those needs and how the business is doing to meet those needs.
Businesses need not to be experts at methods of research either
Primary research is when new data is obtained for a specific purpose,
this is provided by the market department of the business.. The
advantage of this method is that the business have compete control
over the process. This can be more effective, but it takes a huge
amount of time and will cost a great deal. Methods of primary include:
Employees -- Employees are usually the people who interact the most
with your customers. Ask them about products and services that
customers are asking for. Ask employees about what the customers
Comment Cards-- Provide brief, half-page comment cards on which
customers can answer basic questions such as: Were you satisfied with
our services? How could we provide the perfect services? Are there any
services you'd like to see that don't exist yet?
Competition -- What is your competition selling? Ask people who shop
there. Many people don't notice sales or major items in stores.
Questionnaires -The most common of all the methods. They obtain a lot
of specific information that the business will be looking for. The
questionnaires can be on paper for the customer to fill in or at a
personal interview between the employee and the customer.
Documentation and Records -- Notice what customers are buying and not
buying from the business. Including electronic methods, internet, and
EPOS tills in stores.
Focus Groups -- Focus groups are usually 8-10 people that you gather
to get their impressions of a product or service or an idea.
Surveys by Mail - Customers fill in questionnaires, comment cards,
etc. The customers will fill in surveys especially if they get
something in return. Promise them a discount if they return the
completed form to your facility etc.
Observation - Observing the customers. Often shops such as super
markets see how there consumers move around the store, whether any
displays/product presentation draws the attention of the customer.