Importance of marketing

Marketing refers to the process through which customers can be taught how to choose one company’s product or item over another item. In today’s competitive world all companies and firms market their products in very creative ways. Some use the internet   via the social, media while others use the traditional ways to pass through the message to potential consumers. The main point is to find the right kind of marketing strategy that will work in favor of the company. Examples of companies that have made amazing strides in the marketing area are coca cola and Nike just to name a few (Stokes, & Lomax, 2008).

Firms usually make the mistake of assuming that marketing is just engaging in one particular thing or area but marketing encompasses all things when it comes to business or entrepreneurship .Marketing begins from the time a consumer comes into contact with the product. The contact may be through an advertisement or another form of marketing. The image conceived by the consumer will depend on the manner in which the marketing of the items was carried out (Stokes, & Lomax, 2008).

Marketing helps a consumer make a decision on whether they will buy the product or settle for the next item. Customers can also choose whether to return to a certain business entity or cross over to the next business to receive the same services. It all boils down to the manner in which the marketing of the product or item is done (Raab, Goddard, & Unger, 2016).

Marketing can be identified using the four Ps or in other words mixture of marketing. Product, pricing, promoting and placing. Let’s begin with products. Companies have many ways of ensuring that they have undertaken necessary steps to secure the quality of their items before they reach consumers in the market place (Raab, Goddard, & Unger, 2016).

After the concept of the product is conceived, marketing specialists evaluate the new items with the aim of ensuring potential consumers will consume the product or the service that will be offered. If they discover the interest is high, marketers can then get a go ahead to sell the items of the firm but on limited supply to   track the progress of the items. If the sales are high, more products are produced into the local and international markets (Raab, Goddard, & Unger, 2016).

Before goods are released into the market, firms have to make a decision on the design, sizes, flavors and smell. The products are supposed to be sold in attractive packages that will be easily capture the eyes of the consumers making them purchase the products without giving much attention to the content of the product itself hence  the consumers in the process will be buying the package indirectly. Although the last decision lies with the consumers, organizations have to influence or play part in impacting the choice of the potential customer (Raab, Goddard, & Unger, 2016).

Price is   a tool that can be used in marketing of products. Price can be tested or evaluated through surveys and studies .Firms should make a point to know the best or suitable price at which they can sell their items so that they can attain maximum profits from their venture. One of the easiest way of determining a price is by selling it at comparable value to other competitors but that depends on the expenses incurred during manufacturing of the items .The aim of pricing is making a profit and not a loss therefore it must be a careful decision based on a good investigative research. If a company launches a new item or service that never existed before, they must come up with a reasonable or fair price. The price should consider the amount   a consumer is willing to part with for the product or service because the 3price may be too high or too low to make good returns (Cant, 2006).

Promoting of items can involve advertising or spreading information through brochures to capture the attention of potential consumers. More complicated ideas, for examples spas or computer machines, firms can use trade exhibition shows to exhibit their items. Promotions serve two purposes, generating leads for sales or initiative actual purchase (Cant, 2006).

Place refers to disbursement or distributing of items. It refers   to the manner and the location where the items are sold. Customers item firms for instance, selling to wholesalers who consequentially sell the items to retailers (Cant, 2006).

In the context of the industrial market, the buying procedure takes more time and includes decision makers. A company can sell its products   or services at a local level while others may decide to appeal to a wider market and sell their items at national or international level. All decisions pertaining distribution are part and parcel of the marketing procedures and operations (Cant, 2006).

 

The objectives of marketing

The main goal of marketing is attract attention of the consumer long in enough to generate enough interest to buy or develop enough curiosity. Marketing protects the image of the product or can change the image to a better one depending on the manner in which it is done .Marketing was once done through billboards or printed ads in the newspaper (Cant, 2006).

Once the interest of a potential customer has been arrested by a marketing style of the product, the attention can then be turned into a commitment to purchase the product and becoming a recurrent consumer of the product. Therefore the bottom-line is to make more sales from the advertising of the products or items (Cant, 2006).

The other ultimate aim of both marketing a product and sales is bringing profits to a business entity. When distance between marketing and sales is significantly reduced, the processing is made simpler and easier for consumers and potential sales may increase exponentially .For example, if a certain item is marketed on the basis of internet and convinces a number of people to buy the product, it means that the marketing was effective as it has produced positive results. An internet platform enables people to buy products impulsively as one can, in the click of a button, purchase a product of their choice. This is the reason why online marketing has become a favorite among marketers. It is a new wave and marketers are coming up with genius ways of advertising their items. Some may use streamline services such as YouTube and others may prefer the use of social media due to the numerous number of people who use social media areas (Raab, Goddard, & Unger, 2016).

Apart from the internet, there are different types of platforms one can use for marketing their products. Television, radio, prints and other mass media .Although firms that sells products at the internet optimize their websites so that they can appear among the first websites in search engines such as google and Yahoo (Raab, Goddard, & Unger, 2016).

 

 

 

 

 

 

 

 

References

Cant, M. C. (2006). Marketing management. Cape Town, South Africa: Juta.

Raab, G., Goddard, G. J., & Unger, A. (2016). The Psychology of Marketing: Cross-Cultural Perspectives. Abingdon, Oxon: Taylor and Francis

Stokes, D., & Lomax, W. (2008). Marketing: A brief introduction. Australia: Thomson.