Marketing is the art of consciously inducing demand for the sale of products and services; and creating a market for them. Marketing is a subset of advertising, which is basically a communication technique used to promote a product or service to potential buyers. Advertising uses visual representation to inform people of something’s being sold. Marketing uses different forms of verbal or non-verbal communication to induce consumers to react to a product or service by the way of buying it. It also employs the use of physical means to achieve this end.
The four Ps of marketing are basically intended to induce consumers to respond to the selling stimuli. Ps. 1 is “crystal clear” marketing; it is an attempt to sell to consumers with very clear, concise, and uncomplicated language. Ps. 2 is “keep what you want and give what you don’t”.
The first step in marketing is research. A business goal is determined, in part, by knowing what potential buyers want. Cohen’s Law illustrates that if you make something that your customers don’t want, you will lose the battle; but if you make something that they want, you have a better chance of winning. For example: Suppose you’re selling tires. If you make a product that your customers don’t need, you have a very weak chance of increasing your profits and finding success.
Another way to think about marketing is to think about social media as an extension of the traditional marketing process. The internet acts as a medium through which you can communicate with potential customers and drive consumer behavior. Advertising through social media, by contrast, is a way to get your message into a large number of people’s hands. Most people can find a connection to your company by following a link to your social media page. In essence, advertising through marketing is all about the numbers.
The most effective marketing campaigns start with a plan. The chief executive officer and his marketing team will need to agree on a marketing plan, and the plan should include objectives, resources, time lines, and a timeline. It’s important for co-workers to understand the purpose of the marketing plan. The marketing research that the co-workers conduct should be conducted using the same type of consumer research that the Chief Executive Officer will use. One of the biggest mistakes made in online marketing is to rely on consumers to provide feedback, which is not the way real world marketing works.
The bottom line is that marketing research should be fun for the team conducting it. It should also be informed and intelligent. Marketing should not be seen as a chore, but as a way to discover new information that leads to the creation of new products and business models. Marketing research is an essential component of any successful advertising effort. When done properly, it can lead to greater consumer awareness, increased sales, and higher quality customer service.