“First in Rankings,
First in Results.”
Intuitive Marketing Made Easy
Marketing. It is a bit of a mystery to the lay person who has never studied the intricacies of it, but most will find the subject fascinating if explained in a way that is easily understood. That’s what we plan to do with this article; we hope to convey to our customer the passionate zeal for marketing with which we serve. The way to do that is to explain what marketing is, and how we’ve improved upon that definition by adding our own unique blend of ideas to the mix. As you’ll learn later in this article, marketing must have an edgy innovation to it, a young viewpoint that incorporates the technology of our time. This is what our company embraces down to its core.
Marketing is defined by the American Marketing Association as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” The Charted Institute of Marketing defines marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” As seen from a systems viewpoint, sales process marketing considers it to be “a set of processes that are interconnected and interdependent with other functions, whose methods can be improved using a variety of relatively new approaches.” Finally, Value-based marketing views it as a role that contributes toward increasing the value of the shareholder; this view seeks to make the most out of the relationships with shareholders. The idea of this is to cultivate and nourish the relationship to maximize returns, thereby creating a competitive edge.
Basically, marketing is the method by which:
1) customer is created
2) customer is kept
3) customer is satisfied
In the past, it was viewed as a creative industry which merely included advertising, distribution, and selling. But today, in our age of studiousness, courses in economics, mathematics, sociology, psychology, social sciences, and even anthropology and neuroscience have been folded into marketing field. In fact, the profession is literally recognized as an actual science, leading to students to earn an actual Master-of-Science degree in social media and online marketing!
The process of marketing begins with research and goes through several processes before its finalization. We will explore these in detail below.The Marketing ConceptThe marketing concept is simply refers to the foundation of marketing in the modern age. This concept embraces the idea that to fulfill organizational goals, an organization should intuitively foresee the needs and desires of the target consumer and satisfy those needs and desires more effectively than its competitors. This concept is tied to marketing itself; it is the literal foundation of effective marketing.Marketing OrientationSimply put, marketing orientation is the perception or opinion that a firm feels about its product in relation to the consumer. There are several things into consideration: being primarily concerned with the quality of product while focusing on maximizing production as much as possibleThe marketing orientation has within it three subcategories:
Customer Orientation: producing products and goods people are willing and able to buy
Organization Orientation: team-oriented approach, beginning with intuitive research all the way to finalization and promotion of product.
Mutually Beneficial Exchange: in essence, this is the partnership between a marketing firm’s increasing profits, which helps feeds and satisfy the needs, wants, and value-for-money the consumer requires.
In the 1960s, E. Jerome McCarthy, Professor at Michigan State University, came up with a very clever “Marketing Mix” which contains four elements: product, price, place and promotion.
Product: specifics of the services or product
Price: includes not only the price of product, but whatever may be exchanged, e.g. time, energy, effort, etc.
Place: this references ‘how’ the product finds its way to the customer.
Promotion: sales promotion, advertising, publicity, personal selling, and promotional education.
“Marketing environment” refers to all factors (whether direct or indirect, internal or external) that influence a firm’s marketing decisions. This includes two areas:
The macro-environment: when a firm holds very little to no control, such as inflation, unemployment, health, etc.
The micro-environment: when a firm holds a a very large amount of (although, at times, not total) control, such as media, employees, consumers, suppliers, etc. One of the most vital aspects to marketing is the research process, and include a gamut of areas anywhere from geographically, psychologically and demographically.