In every business, no matter what the product or service is, one vital aspect in its operation and to succeed is marketing. Marketing is defined as the managerial effort of a company through which its goods or services are moved from the manufacturer to the consumer. Marketing efforts can be effective or not, and there is such a concept as effective marketing where a product or service is created the right way, the right place, at the right time and the right price, thereby the company makes a profit along the way. View here for more info about Marketing. Other definitions of marketing would touch on the activity, communication, delivering and offer something of value to customers, partners and to the society as a whole. Marketing goes further as the activity that meets needs in a profitable manner.
In order to increase sales and to achieve a sustainable targeted market for a product or service, marketing is needed. In effect, it is through marketing that customers get the satisfaction from the product or service, while the businessperson gets profit on the sales, and in turn, the business achieves a certain reputation. One focal area of marketing is in the investigation of demand behavior. The effort of marketing focuses on the psychological satisfaction of the client and creates several incentives that will give economic benefits to the customers. There is an effective marketing if the approach is able to accommodate the economic rules of selling, buying and psychological inclinations of sellers and buyers.
Marketing has several major reasons and objectives. Click this link to get more info. These are to inform the market about the new product or service or termed as product awareness, an introduction to a new business or called business awareness, in order to provide motivation or persuasion on a consumer to buy a product or service, to be able to create customer loyalty, to achieve a certain reputation or goodwill, for the attainment of sustainable edge over competitions, and to realize brand equity.
In a marketing activity, you have basically the seller and the marketer, with the concept that selling would focus on the needs of the seller, and marketing would focus on the needs of the buyer. Thus in selling, the seller is concentrating on the need to convert a product into cash, while marketing deals with the idea of satisfying the needs of the customers. It is important therefore that there is coordination or alignment between marketing and selling to obtain better results. Learn more from https://www.huffingtonpost.com/charmaine-belonio/5-digital-marketing-strat_b_12867622.html.
