What Is Marketing?

So what is marketing? Marketing is the science as the art of finding, preserving and nurturing clients. “… Ideally, marketing should create a ready-to-buy consumer,” Peter Drucker.

Marketing – a set of measures, extensive in its range of activities of many specialists of the company, whose goal is to convince buyers to purchase products of the enterprise. Marketing initially involves studying the market to determine the likely reaction of the customer to new products planned for production and to find out whether it is possible to increase the attractiveness of goods already produced by modifying them. Ultimately, no marketing will help sell those products that buyers do not like; marketing errors can lead to failures in sales of products that turned out to be uncompetitive, did not appeal to consumers.

The task of marketing. “The primary goal of marketing is to make marketing efforts unnecessary.” Peter Drucker

Marketing types

Types of marketing depending on the direction of the company:

Types of marketing, depending on the target audience;

  • marketing of goods and (or) consumer services;
  • marketing of products and (or) services for production and technical purposes.

Types of marketing, depending on the tasks to be solved in time:

  • strategic marketing – marketing, based on the implementation of internal and external capabilities of the company in a strategic perspective, with the objective of achieving strategic goals;
  • Tactical marketing is a type of marketing with a short, tactical horizon of planning;

Types of marketing, depending on the concentration of efforts in the market segments:

  • differentiated marketing, designed to use several sectors of the market;
  • concentrated marketing, focusing efforts on individual markets;
  • target marketing, targeting a particular market segment;
  • mass marketing, applied to consumer goods, without a specific orientation to market segments;

There are the following types of marketing:

  • Conversion marketing, which creates conditions for overcoming negative demand;
  • Demarketing – aimed at limiting irrational demand;
  • developing marketing, focused on the transformation of potential demand into a real one;
  • price marketing, based on the establishment of the price of the goods;
  • sales marketing provides for the creation of a sales network, sales promotion, promotion of a trade promotion network, removal of barriers to the movement of goods.

Types of marketing do not contradict one the other, but complement, allow you to concentrate on solving specific problems.

What is marketing concept

Five basic principles of marketing. Marketing follows the following five basic principles:

  • The production and sale of goods must correspond to the needs of customers, the market situation and the company’s capabilities;
  • Complete customer satisfaction and compliance with modern technical and artistic standards;
  • Presence in the market at the time of the most effectively possible sale of products;
  • Constant updating of the produced or sold products;
  • Unity of strategy and tactics for quick response to changing demand.internet marketing

Marketing includes:

  • market analysis ( the division of markets, selection of preferred markets, segmentation, the anticipation of changes in demand);
  • product development (definition of the type and setting of characteristics of the goods sold);
  • positioning (strategy development, pricing strategy, branding, ensuring that the quality of the product, its price and the benefits of acquiring the goods correspond to the needs of the market);
  • advertising (informing the market about the essence of the offer, product, brand);
  • carrying out activities for the distribution and promotion of goods, brands (the creation of a sales network, sales promotion, the promotion of a trade promotion network, the removal of barriers to the movement of goods);
  • providing after-sales service.

What is marketing management?

Marketing management is the philosophy of managing a company on the principles of marketing. Marketing management as a function should be considered not only in connection with tasks within the marketing process but also with works to guide people and the team responsible for achieving the objectives of the enterprise. Marketing-management assumes the purposeful coordination and formation of all actions of the firm, at the level of the market and the level of society as a whole.

The purpose of marketing management is the formation of a complex of long-term and short-term (operational) managerial influences, marketing solutions for all departments and persons interacting in the field of marketing.

The concept of marketing management is defined as a system of basic ideas, tools and analysis of business and the environment, the formation of strategies and controls. So, do you know what is marketing now?

What is the marketing strategy?

The objectives of the marketing strategy are a comprehensive study of the entire market; accurate assessment of demand and needs; development of marketing strategy and development of methods that allow it to be implemented. The marketing strategy, therefore, should provide answers to the following questions: How can a company stay “afloat” in the current market conditions and take the lead? How can an enterprise gain the most favorable share in the market? Usually, the marketing strategy of the company fixes by the document “marketing policy”. The marketing strategy, depending on the market situation, particular industry and other factors can be developed for 1-25 years. In the modern domestic market, the development of a marketing strategy is usually conducted for 1-3 years. Although some enterprises are oriented and for 5-10 years. Thus, do you know what is marketing strategy?

What is marketing mix?

The marketing mix is a system, a complex of tactical marketing tools, through which the company’s marketing strategy implements. All elements forming a complex marketing mix are manageable, therefore, by manipulating them, the company can maintain a stable position in the market and react responsively to its changes.┬áThus, do you know what is marketing mix?