The article in brief:
Welcome to Tech Advance Pro. Marketing is all the means implemented by a company to market its products and services in line with a target market. Marketing involves knowing the market (customers, their expectations), your business and the competition (strengths, weaknesses, opportunities, threats) and developing a strategy to market your products or services: defining the product, its price, its distribution channel and means of promotion.
Creation of Marketing
During the 21st century, marketing has developed considerably to the point of becoming an essential tool in the service of the company. Whatever the size of the organization, defining a marketing strategy has become essential to ensure its sustainability. Marketing is made up of several specialties, the objective of which is to influence consumer behavior.
The year 1937 was the year the American Marketing Academy was born. Marketing puts the consumer at the center of the commercial relationship. Thus, marketing analyzes consumer needs. Then, it will be a matter of implementing actions to influence consumer behavior.
😅 Simple and Funny Way to Explain … What is Marketing 🗣️
🌟 Direct Marketing:
You went to a party, spotted a lovely girl, and confidently told her, “I’m a very rich man. Marry me.” That’s direct marketing! 🚀
At another party, your friend pointed at you and said to a beautiful girl, “He’s a very rich man. Marry him.” That’s advertising, letting others do the talking! 🗣️
You saw a stunning girl, got her number, called her the next day, and declared, “I’m a very rich man. Marry me.” That’s telemarketing over the phone! 📱
🕺 Public Relations:
You went to a party, fixed up, made a drink, helped with a wallet drop, and offered a ride while smoothly saying, “I’m a very rich man. Will you marry me?” That’s excellent public relations! 🤝🍸
🌟 Branded Product:
A beautiful girl came up to you and exclaimed, “You’re a very rich man.” That’s being a branded product! 🌟
👋 Customer Feedback:
You confidently proposed to a girl at the party, and she playfully slapped you. That’s customer feedback – cheeky but fun! 😅
🔄 Demand and Supply Gap:
After proposing, the girl introduces you to her husband. That’s a demand and supply gap! 😮
👫 Competition Eating Your Share of the Market:
Thinking you found a new girl, you approached her with the same proposal. Surprise! It’s your own wife. That’s competition eating your share of the market! 😆
Sadly, if you went to a party and didn’t spot a beautiful girl, that’s called unemployment in the party of love! 😕
What a rollercoaster of emotions at that party! 😂🎊
From Strategic Marketing to Operational Marketing:
All the actions implemented by marketing aim to ensure the sustainability of the company, in particular by enabling it to develop its turnover.
Marketing is entirely focused on consumer satisfaction; for this he is supported by all the company’s departments. This discipline is made up of many specialties. These specialties include strategic marketing, product marketing, political marketing and operational marketing.
Strategic marketing intervenes upstream, its aim is to identify future customers and offer them products or services that suit them. Identification aims to adapt the message and advertising to the targeted population. Strategic marketing relies on different methods, such as the SWOT and PORTER matrices.
SWOT and PORTER Matrices
The SWOT matrix analyzes the strengths and weaknesses of a company, or product, considering the opportunities and threats in its market. Porter’s analysis examines the competitive position of a product. This analysis is based on the 5 forces which intervene in the competitive position of the company. These are customers, suppliers, competitors, substitute products, or possible future entrants to the market.
Operational marketing is dedicated to devising the necessary measures for attaining predefined objectives. It centers its efforts on the four essential pillars: Product, Price, Distribution (Placement), and Advertising. These pillars collectively embody the fundamental structure of the company.
In order to obtain the best possible results, the entrepreneur will not be able to take the 4Ps separately, he will have to work on the 4Ps at the same time. Indeed, working on the product refers to the proposition to the consumer, the ranges of products, their qualities, all of their characteristics, the quality of services, etc. Placement concerns the distribution policy, the type of channel chosen. The distribution policy will determine the logistics to be deployed. Indeed, between the choice of selling your products directly on the web, and distributing them in a supermarket chain, the logistics to be put in place will be different. The same will go for customer relations.
Product marketing is at the heart of operational marketing. With product marketing, it is about working on the directions to follow in order to sell the company’s products or services. So that product marketing will work on the specificities of the products developed by the company, their range, their design, their packaging, etc.
The product and its distribution are closely linked, because the distribution policy clearly influences the quality of service, the positioning of the product, etc.
As for the price, it will depend on the product and it will influence both distribution and advertising. As for advertising, it must take into account all the pillars to be effective. Therefore, in order to have a coherent marketing policy, the entrepreneur will have to analyze his commercial targets. Determine what your strengths and weaknesses are in your market.
Social Media Marketing
With the advent of social networks, marketing encompasses interactions with consumers, particularly through social networks. In the common name of social media, we include so-called “digital social” media, networking media, blogs, etc.
Digital social media are used to interact within a circle of acquaintances, family, friends, colleagues, etc. Communication is done through private or public messages, publications as diverse as videos and articles. Although it is primarily private communication, companies use them to understand their customers and promote the company. Nowadays social media has become an additional distribution channel.
Networking media promote professional careers. For the company, these media allow them to communicate about their human resources, in particular the positions to be filled. The company publishes content intended for professionals, this may concern management, its products, its commitments, etc. Among these networks, the micro-blogging category of which Twitter is a part.
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