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Marketing strategy chapter 1
Marketing strategy chapter 1
Chapter 1 marketing strategies
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Marketing is the process by which a product or service is created and is then priced, endorsed, and distributed to customers. It is a vital strategy implemented for business (Internet marketing, 2013). There are different types of marketing, which can be helpful from small businesses up to large businesses.
As time passes by, marketing is adjusting to the new technology that is being developed. From traditional marketing, there came the online marketing, which is a more modern way of selling products and services with the internet. By just having computers or laptop opened, internet on, and browser ready, someone can take a look on the new products and services available.
They are the two broadest categories of marketing which describe the medium employed by business. Traditional marketing, which have been in use for many years is now facing competition from online marketing, which has brought in new innovative ways of doing business for companies. (Internet marketing, 2013)
But businesses have questions that are in need of answers. Which form of marketing should be adopted to get more customers? What strategy will offer better benefits and give better profits? To answer these, advantages and disadvantages is discussed in this paper.
Traditional marketing, although being stepped on by online marketing, has advantages on both the consumers and the business. Traditional marketing is already tried and tested for it is used many years up to now, and buyers are already familiar with it. People are comfortable with buying the goods offline or the traditional way because it is not risky and selling products from person to person is an efficient strategy. The buyer and the salesman can have an efficient way of marketing that are affected...
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...ghaei, & Abyari, 2012). Both use the web to promote their advertisements of their product.
“Many direct marketers have adopted the Web as a new channel for their promotions and catalogs, but they have not yet capitalized on its full set of interactive marketing capabilities. To take full advantage of the Web's vast marketing opportunities, marketers must integrate electronic commerce with their other traditional marketing channels to create a true multi-media marketing initiative. Essential to this integration is the application of the same database marketing techniques used to drive traditional direct marketing campaigns.” (Rowsom, 1998, para. 6)
Given the information above, the decision is still up to the person who is taking the final decision. Incorporating market research into your marketing plan will help you decide how your target market will best be reached.
What is marketing? Contrary to what a layperson thinks there is more to marketing than just running ads and selling products (Perreault, Cannon & McCarty, 2014). The American Marketing Association defines marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (para. 1). Effective marketing involves strategic concepts. Some of which include how companies use marketing to Place, Promote, and Price their Products. More importantly, an understanding of the marketing concept, the marketing strategy, and the marketing plan is required for a company’s marketing efforts to be successful.
The Internet is the core of digital marketing. The Internet offers various ways to promote Products online, to market their product. Applications like the World Wide Web, email, RSS and the likes of video’s you would see on YouTube ads, these all can be used by marketers to their benefits and launch campaigns.
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
... It really all depends on your target market. Marketing is always geared towards the customer. Without the customer, your business will not be successful.
Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.
To help these businesses, a more appropriate or better marketing plan needs to be designed. Small business internet marketing services can help businesses develop and thrive in a highly competitive market. For the highest quality internet marketing services, hiring an online marketing company to design a customized internet marketing campaign may be advantageous for some businesses (EStartup business blog and contributors, 2010). Identifying the role that marketing plays in a successful business is demonstrated by the use of two examples, the importance of developing a marketing plan, and ethical and legal issues that surround marketing practices (EStartup business blog, 2010). To be a successful business, the owner of the business should use the marketing mix and the results of market research; having identified its key audience a company has to ensure a marketing mix is created that is targeted specifically to those people.
Digital marketing is a fastest growing form of direct marketing. Widespread use of internet is having dramatic impact on both co...
In this paper I will define marketing in my own words and also research what the definition is using two different sources. While supporting my answers with three examples from the business world, I will show the importance of marketing. Marketing applies to many different areas of an organization and after close review I will make it clear on how it relates.
A good definition of marketing is the process of the intermediary function between product development and sales. (Reddy ) The field of marketing entails taking a generic product or generic service (the product or services do not have to be “generic” they may be actually unique to the marketplace) and associating the generic product with a brand name (Petty 2001). Under this generic concept are the activities of advertising, public relations, media planning, sales strategy and so on.
In the 1990s direct marketing became the most important tool in the mix because technology had enabled a form of communication by appealing directly to the target customer. This change led to new media formats, and the subsequent development of the Internet. Digital technologies have accelerated change in the marketing communications
It is not secret that marketing plays one of the key roles of a successful business. As Phillip Kotler said: “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential”. Simply stated, marketing is everything you do to place your product or service in the hands of a potential customer.
...As more and more marketers are getting into online advertisements that is way the trend of internet marketing is increasing rapidly. Marketers know very well that consumers spend more time on internet, so they started targeting internet users. (The economic times, 2004)
As technology today is advancing and rapidly changing, the business firms are trying to benefit from these technological advances and employ it in their favor. As a result, the use of traditional marketing tools such as: television, brochures, billboards, radio and magazines declined, while online advertising and social media marketing has increased dramatically in the most recent years.
As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”
According to this, it is obvious that the objective of marketing is to satisfy demand of customers by those ‘individual and organizational activities’ like promotion or pricing of goods, which are all just means to achieve that. Additionally, organizations could stand out from their competitors once they meet the needs of customers better than others. Thus, it can be said that the successful marketing is to provide competitive advantages for organizations by doing better in satisfying customers’ desires through products and other marketing activities.