Marketing is any action that attempts to raise awareness, evaluation, understanding or response of target markets. Marketing is an ever-changing discipline. No firm can predict marketing actions likely to occur in future. Marketer use marketing as tool to acquire new clients, to persuade their existing customers to buy a product or service, to create and maintain a positive public perception, or to improve brand awareness. Marketing is an integrated part of business activity. Marketing is a powerful means for getting your message and brand out to the masses.
Marketing myopia occurs when marketers view marketing activity as a one-time purchase and/or effort instead of an ongoing process. Marketing is a strategic and comprehensive discipline that involves the effective use of many communications media such as print, audio, film, web and TV. Marketing is a broad term, but it usually encompasses the elements of design, sales, promotion, public relations, technical support and direct customer service. Marketing is the method of consciously stimulating demand for and sales of products and services; possibly including choice of a particular target market; choice of specific features or themes for branding or visual advertising; and research and analysis of consumer behavior. Marketing is an integrated part of most businesses.
Marketing is all about creating and developing a need and a marketplace for a product or service. Marketing research is conducted to identify, describe and evaluate potential markets before selling any products or services. Marketing goals are continuously being altered as society and organizations change. Marketers must constantly evaluate marketing activities to assure profitability while adhering to their overall advertising objectives.
The three main factors influencing marketing management are defined by Halliday, et al., “strategy, control, and results.” Strategy is a set of definite expectations concerning the market trend, the financial resources required for selling and the degree to which competitors will provide an alternative. Control is exercised so that the objectives of selling are not defeated by unanticipated adverse results. And finally, results include a favorable return on the investment made in developing, promoting, and selling the merchandise or service.
Marketing is an integrated concept of planning, organizing, and executing the different elements of marketing so that the achievement of marketing objectives is achieved. Marketing research is necessary to gain knowledge on customers needs, their buying patterns, preferences, and purchasing power. The development of marketing concepts such as product, price, promotion, and customer satisfaction is based on the concept of coordinated marketing. Coordinated marketing is a concept that recognizes that the production of merchandise and services can be improved only by involving the whole community in its development.
Marketing research enables marketers to evaluate the effectiveness of their marketing programs and identify promising ideas for selling their products and services. The process of marketing is a continuous process and should be handled with patience and determination. It is an effective way of increasing the sale of merchandise or service to consumers. Achieving long term success in this concept requires consistent application of the above mentioned marketing concepts.