Marketing Concepts That You Might Want To Learn About
Marketing is a broad term that can cover many activities designed to promote the business. Marketing refers to the systematic process by which an organization undertakes to engage its target market, develop strong relationships with these consumers, create value for the company so as to acquire and maintain that value later on, and make available to the consumers what they are looking for. The objective of marketing is to identify and channel the appropriate resources to promote the enterprise, and to achieve the most cost-effective means of doing so.
Although it is a broad concept and potentially very complex, marketing myopia usually occurs when marketers view their activities from a narrow perspective: only what can be directly measured and measured again. Unfortunately, this narrow perspective often prevents marketers from seeing more than the immediate goal: sales growth. Marketing should be not only about gaining new customers, but also about retaining them. Many marketing concepts such as the marketing strategy, the market trend, and the product concept are often overlooked or ignored in the effort to focus on just the next sales result.
Marketing managers must therefore take care to broaden their perspective to encompass marketing concepts and activities beyond the sales and customer satisfaction. By doing this, marketers will better understand not only the current state of their marketing effort, but also what their company needs to do in order to move ahead and increase its progress in both areas. In addition, a broader perspective will make it easier for marketing managers to identify marketing strategies that will yield more benefits than simply increasing sales.
One example of this type of broader perspective is the concept of social marketing. Social marketing, as opposed to pure marketing management, has to do with using the influence of the general society to promote a product or service. Social marketing concepts can be used to enhance consumer awareness, develop public attitudes, and to create venues and events where a certain message can be introduced and attuned to specific audiences. This type of marketing management has the potential to expand the market share that a certain company has in mind by exploiting the influence of various societal aspects. As a tip, you may want to take a look at some of the popular marketing concepts being used in other countries.
Another marketing concept that you might want to take a look at is that of coordinated marketing. In this concept, marketing efforts are geared towards meeting the customer needs and objectives. For example, a manufacturer needs to take note of the fact that there are a lot of car enthusiasts who would love to purchase a particular model. This manufacturer can use organized marketing campaigns to meet these customers needs by using brochures and putting out advertisements in car related publications. On the other hand, a service provider might consider taking coordinated marketing strategies to increase awareness about a particular health product by creating awareness campaigns using television, radio, and other media.
These are some of the marketing management concepts that you may want to learn more about. There are many marketing concepts being used around the world that you can exploit for your own business’ growth. As a matter of fact, these marketing concepts are usually what make a businessman stands apart from his competitors. Therefore, if you want to establish your own unique selling proposition so that you can effectively sell your products or services, you need to learn more about these marketing concepts.