Marketing / Marketing

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Marketing, marketing, marketing or marketing is the set of activities and processes aimed at creating and communicating brand value, identifying and satisfying the needs and desires of consumers.

When we talk about marketing we are referring to all the activities, techniques or strategies that are intended to improve the sales process, and may even modify the design of the product if that makes it more attractive to its target audience. Not only in the advertising sense of attracting more people with a beautiful product and design, but also of identifying what customers need. That is, studying what they need, why they need it, how they want it, or why they want it.

That is why marketing is not only dedicated to improving sales, but also involves everything related to improving the process of selling a product or service, from the study of the need to be covered, the market niche to the that is going to be directed, its production, its sales format, its logistics, its marketing and after-sales service.

That said, we realize how the discipline of marketing goes far beyond advertising. The objective of marketing is much broader. Thus, we could say that advertising is just one part of marketing.

Marketing not only focuses on the product and its relationship with customers or potential customers, but is also fully aligned with the objectives of a company. Taking charge of analyzing how the company is perceived in the market and studying how to improve or maintain that perception, to achieve the company's objectives in the short and long term.

Marketing objectives

The ultimate goal of marketing is to increase the sales of a product or service. To do this, he analyzes how to add value to a brand and bring the products or services of a company to people who need and want them. This allows generating value for the company, guaranteeing profitability.

Another goal of marketing is to attract new customers and retain them, for this you can seek to attract the attention of the public. For example, through exposure to the media, using slogans, renowned people and developing the design that surrounds the products.

To achieve its objectives, marketing encompasses from the analysis of the market, the existing or potential demand, the design, promotion and packaging of the product, to the best communication with potential customers. All this separates it into four different strategies, which we will see below.

In addition, as we mentioned before, marketing goes hand in hand with the global objectives of the company.

In summary, the objectives of marketing are:

  • Increase sales of a product or service.
  • Build and retain the relationship with consumers.
  • Add value to a brand, product or service.
  • Improve the perceived image of a company, brand, product or service.
  • Increase the visibility of a company, brand, product or service.

Marketing strategies

Four Marketing strategies are usually considered, known as the 4 P’s of marketing, which in turn are complemented by the 4 C’s of marketing.

4 P’s of marketing

  • Product: It ranges from the study of the need to be covered, the market niche to which it is going to be directed, to the design of the product and its packaging.
  • Price: Analyzes the value perceived by both the client and the buyer, the price to be established and the format in which it will be charged.
  • Place: Refers to the place through which the product can be purchased, either physically or digitally. Analyze the distribution channels.
  • Promotion: Analyzes the strategies to disseminate and publicize the product, promoting your purchase. This is where advertising comes into play.

Marketing, therefore, encompasses everything that leads a company to improve the sales process, from the first study of the market niche, to acquiring customers and maintaining a relationship with them. Be it, for example, from a thank you letter or email to a meal with a potential client.

See 4 P’s of marketing

Companies study the environment that will surround their project, so that they can face and anticipate its characteristics and evolution. They analyze the current situation based on that marketing environment, and the company is oriented towards its objectives. For this, it is of great importance to carry out a marketing plan, which is one of the most important elements of a company's business plan.

4 C’s of marketing

The evolution of consumer trends, as well as new social communication channels, have brought about a transformation in the foundations on which the marketing strategies implemented today by companies are built.

Its objective is to make the consumer feel listened to and understood by the brand, who offers them all possible facilities so that their shopping experience is simple, comfortable and fast and so that their relationship with it is close and natural.

The 4 C’s of marketing are the following:

  • Consumer
  • Communication
  • Convenience
  • Cost
See 4 C’s of marketing

Origin of marketing

We can see more about the origin of marketing and its approaches over time in the following article. However, below we make a small summary of the origin of marketing.

See marketing history

The strategy and techniques of marketing go way back in time, being as old as civilization itself. These were launched at the time when a merchant or business owner was looking to sell more than his competition or reach more potential customers interested in his product or service.

However, marketing developed and, more importantly, professionalized with the arrival of the Industrial Revolution in the 18th century.Mass production and the enactment of antitrust laws created the need to differentiate itself from other competitors, who manufactured exactly the same product.

'Consumption is the sole end and purpose of all production and the interests of the producer should only be served to the extent necessary to promote the intention of the consumer "is a statement written by Adam Smith, in the eighteenth century and is close to lay the foundation for the modern marketing concept. It follows the idea that the main motivation or concern of every manufacturer revolves around those desires and needs of the consumer.

It would be at the beginning of the 20th century, specifically in 1902, when Professor Jones of the University of Michigan used the term "marketing" for the first time. A few years later, the discipline grew until it reached its autonomy and independence in 1911. Shortly after, in 1914, Lewis Weld brought to light the first scientific research on marketing. Just a year later the first marketing book would be published by Arch Wilkinson Shaw.

It is also important to highlight, in addition to its historical origin, its initial definition. At that time, marketing was in charge of two things: production and product. And with that in mind, he tried to make the distribution as efficient as possible. Likewise, marketing was limited to commercial activities, for profit. Later, the discipline expanded to other spectra such as non-profit organizations, foundations or even politics.

Different definitions of Marketing

Marketing or marketing is a very broad concept where all experts draw nuances from previous definitions, here we see the most common:

  • AMA (American Marketing Association): It is a function of the company and a set of processes to create, communicate and distribute value to customers and relationships with them in a way that benefits the company and its audiences.
  • Santesmases: It is a way of conceiving and executing the exchange relationship, in order to make it satisfactory to the parties involved and to society, through the development, valuation and promotion, by one of the parties of the goods, services or ideas that the other party needs.
  • Philip Kotler: It is a social and administrative process through which groups and individuals obtain what they need and want through generating, offering and exchanging valuable products with their peers.

See all the economic terms related to marketing, in our marketing dictionary.

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