Marketing? Is it really needed?

Marketing Basics

Marketing is a set of processes aimed at creating, promoting and delivering a product to customers, as well as managing relationships with them. Translated from English, marketing is a market activity. That is, marketing is the company’s activity in satisfying market needs. The main task is to make a profit. The concept of marketing includes a very wide range of activities aimed at improving the organization’s position in the market.

Each company has its own methods, strategies and tools, starting with competitive analysis and ending with increasing the competitiveness of a product or service. Specific events and channels are determined by the marketers of the enterprise in accordance with the goals and objectives. Marketing is a very flexible science. Marketing activities can have both positive and negative effects. It depends on the correct definition of specific strategies, methods, tools, as well as the ability of marketers to use them.

Here are some of the main points on how every company can leverage on marketing.

Types of Marketing

Classification is carried out on several different grounds:

 

On demand:

  • DE marketing – aimed at reducing demand, since the one is too high and the company is not able to satisfy it;
  • Conversion – a type of marketing aimed at creating demand, since it is too low;
  • Stimulating – applied at zero demand. The task is to stimulate demand, taking into account the reasons for its absence;
  • Developing marketing – is aimed at converting potential demand into real. For example, studying the needs of the audience and creating a new product that will close these needs;
  • Remarketing – aimed at returning past customers with the help of additional motivation. With a drop in demand, UTP and conditions are created that can revive this demand. For example, if a person visited the site, put the product in the basket, and then closed the tab without placing an order, you can offer him a discount on this product using contextual advertising;
  • Synchro marketing – used in situations where demand fluctuates (for example, seasonal sales). The goal is to stabilize demand by increasing prices at the peak of popularity and decreasing during a fall in demand;
  • Supportive – a type of marketing aimed at maintaining the existing demand that matches the supply;
  • Counteracting marketing – used in situations where there is a constant irrational demand for harmful products. It must be reduced to zero. An example is tobacco and alcohol products.

 

By Market Coverage:

  • Undifferentiated – when products are intended for all market segments;
  • Concentrated – when products are intended for a certain market segment;
  • Differentiated – when products are intended for several market segments (for each a separate offer).

 

By Consumer Type:

  • B2B (Business to business) – the product is intended for business. For example, the services of an advertising agency;
  • B2C (Business to Customer) – the product is intended for the end user (person). For example, food, clothes.
  • online marketing (internet marketing) – used in the online space;
  • Offline marketing – used in offline space.

 

By Applicaton and Location Type:

  • Online marketing (internet marketing) – used in the online space;
  • Offline marketing – used in offline space.

Marketing Strategies

Different types of marketing strategies are classified according to several criteria:

 

In the direction of activity:

  • Market expansion – horizontal development of the company. It is aimed at increasing competitive characteristics, covering a larger market share for existing products;
  • Innovation – the vertical development of the company. It is aimed at the development of new areas, the creation of new products for the market for which there is no competition yet;
  • Diversification – the company’s movement in a new direction (production of a new product, provision of a new service). It is desirable in that in which there is no or minimal competition. This strategy is used when it is too hard for companies to compete in the current direction;
  • Reduction – reorganization in order to increase work efficiency.

 

By market coverage (similar to types):

  • undifferentiated marketing strategy – aimed at mass coverage;
  • differentiation strategy – covering several segments with a separate proposal for each;
  • Individualization strategy – aimed at reaching a specific audience segment.

 

The company’s marketing strategy is the main, fundamental element. It is the chosen strategy that determines the future work, the methods and tools used. For a competent choice of strategy, a marketer of an enterprise must know the current state of the market, the position of the company in it and objectively evaluate the available resources. All this information should be obtained exclusively by experimental and analytical means. The strategy should include:

  • analytical data on the market, competitors, consumers;
  • an objective assessment of the capabilities of the enterprise and its competitors;
  • ways of “overtaking” market leaders, or “breaking off” from competitors if the company itself is a leader;
  • correctly set goals;
  • enterprise positioning, positioning methods;
  • promotion methods and tools;
  • Economic justification for all the above aspects.

Marketing Plan

A marketing plan is a documentary presentation of accepted strategies. In other words, this is a document, a paper on which each stage, every step of the company is painted. The marketing plan involves not only the theoretical, but also the practical part. It describes who does what, and how. Literally every step of every employee of the enterprise. When drawing up a plan, you must be guided by the following marketing principles.

The principle of rolling planning – the company should be prepared to regularly amend the existing plan, depending on the changing market situation.

The principle of differentiation – assumes that each segment of CA has its own tastes, needs and “pains”. Not everyone may like a product or service that is being promoted, therefore, the company should be ready to service each segment separately.

The principle of multi variance – the company must be prepared for different scenarios. All of them should be spelled out and worked out in one or separate marketing plans.

 

Areas of marketing

Spheres of Marketing (areas of application):

  • Consumer goods – all the products that we purchase in stores (food, clothing, appliances, etc.);
  • Consumer services – the market for services provided to ordinary people (education, law, air travel, hairdressers, etc.);
  • Means of production – products related to the production of other products (equipment, raw materials, production services, etc.);
  • Property – real estate and securities market;
  • Experience – employment market;
  • Ideas and information – the scope of the proposal of new ideas and information;
  • Events – events of various nature, from exhibitions to sports competitions;
  • Personalities – celebrity market;
  • Geographical territories – market struggle for territories (tourist points of attention, placement of offices, production facilities).

 

At its core, Marketing is a universal tool that can be applied almost everywhere.

Anything that requires promotion or competition falls within the scope of marketing.

So it is very essential.

And what is your plan after this?

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