Marketing refers to promotional activities a business undertakes in order to advertise the sale or purchasing of a specific product, service, or asset. In today’s business environment, marketing is a crucial and often dominant element. In an economy where dollar values are constantly going down, marketers must come up with new ways to increase sales. In recent years, the New York Times referred to it as “the perfect art of convincing people that they need whatever it is that you’re selling”. Marketing is also used by businesses to make their products and services “believable” to potential customers.
Studies conducted by marketing professionals have shown that companies that effectively implemented an integrated marketing strategy achieved higher levels of customer satisfaction than those that did not. Integrating marketing with advertising is also known as coordinated marketing. Some businesses, in an effort to drive traffic to their websites and increase sales, create highly visible ads on other sites and in other media. Other businesses use highly visible physical locations for in-store displays. Regardless of the type of marketing being employed, all efforts are aimed at increasing brand awareness and customer satisfaction.
There are many different kinds of marketing strategies, and some of them are more successful than others. For example, direct mail marketing, such as circulars, brochures, and mailing letters, have been found to be more effective than bulk e-mail marketing. On the other hand, consumers who buy a particular product from a specific brand may be more receptive to a television advertisement or billboard advertisement. When trying to determine what type of marketing is most likely to yield the best results, a professional marketing plan will consider all the factors that affect consumer behavior, such as price, promotions, public image, and target audience.
In addition, many businesses rely on media to communicate information about their products or services. Television advertisements are often considered one of the most effective marketing concepts because they reach directly millions of viewers. Additionally, consumers tend to remember television advertisements or movie posters for years, due to the powerful imagery they contain. When creating a marketing concept, it is important to remember that it will eventually fade away. Consumers will get up to speed with new products or services very quickly, so marketers should try to make their concept easy to understand and attractive to potential customers.
Another way to market effectively is through social marketing concepts. In today’s increasingly globalized marketplace, consumers are increasingly likely to interact with companies that exist beyond the traditional brick-and-mortar store. In fact, the internet has made it easier for consumers to research a particular product before purchasing it. In order to take advantage of this trend, a marketing management firm should integrate a social marketing plan into its overall strategy.
Consumer-oriented businesses will benefit from a cohesive marketing concept that takes into account not only current market share but future expectations as well. In addition, these businesses can use organized marketing resources such as trade shows to engage potential customers in conversations about the products and services on display. Additionally, a consumer-oriented strategy will allow companies to develop long-term customer relationships. Finally, incorporating these three marketing concepts – satisfaction, consumer orientation, and coordinated marketing – can produce the ultimate satisfaction of customers and help ensure that satisfied customers become new, repeat customers.