Marketing What currently constitutes an industry that is hugely attractive to all young people? But to deeply understand this industry, work and succeed in this profession is a big question for everyone. This HRchannels article helps you understand marketing a little deeper.
1. What is marketing?
Marketing is the process of creating value for customers through market research and analysis, strategic business direction, product and service development, researching potential customers, and building relationships with customers, brand promotion and sales. Marketing is an important and essential activity for generating revenue and growing a business. Marketing tools include market research, advertising, promotions, sales, communications and public relations.
2. Marketing tools
2.1. Market research
The main objective of market research in marketing is to collect market and customer information so that customer needs can be understood and responded to effectively. Specific objectives of the market research include:
Better understanding of customers: Market research helps businesses gain insights into customer characteristics, needs, and behaviors so they can create products and services tailored to their needs.
Researching Prospective Customers: Market research helps businesses find and identify potential customers in order to develop effective sales and brand promotion strategies.
Market and Competitor Assessment: Market research helps businesses better understand the market structure, size, growth rate, and competitors so that they can develop appropriate strategies.
Guide business strategies: Market research helps companies guide their business strategies to effectively develop products, services and brands.
The main goal of advertising in marketing is to create awareness about a company’s product or service and generate interest in that product or service among potential customers. Specific advertising objectives include:
Increase sales: Advertising helps raise awareness of a company’s product or service, helping it reach potential customers and increase sales.
Branding: Advertising helps build and strengthen a company’s brand, providing an image of the company and that product or service with certain characteristics.
Stand out from your competitors: Advertising helps businesses differentiate themselves from their competitors by focusing on the unique features of their products or services.
Motivate customers: Advertising can motivate customers to purchase a company’s products or services, thereby helping them realize the value of that product or service.
Identify customer goals: Advertising helps businesses identify target customers in order to develop more effective marketing strategies.
2.3. Sales promotion
The main goal of sales promotion in marketing is to increase sales and reduce inventory by attracting potential customers to purchase a company’s products or services. Specific promotion objectives include:
Generate interest in a product or service: Promotions help generate interest in a company’s product or service, introduce it to potential customers, and create purchase demand.
Increase Sales: Promotions help increase sales by attracting potential customers to purchase a company’s products or services.
Increase Profits: Promotions can help increase profits by increasing sales and reducing inventory costs.
Stand out from your competitors: Promotions help businesses differentiate themselves from their competitors by offering more attractive offers and promotions.
Build relationships with customers: Promotions can help businesses build relationships with customers, build loyalty, and increase the likelihood of becoming repeat customers of the business.
>>>> You might be interested in: What qualities do you need to work in the marketing sector?
2.4. Sales (CRM)
The main goal of sales in marketing is to increase sales by converting prospects into actual customers. Specific sales objectives include:
Increase Sales: Sales helps to increase sales by converting prospects into actual customers.
Building relationships with customers: Sales is also a way for businesses to build relationships with customers. Salespeople can help customers better understand a company’s products or services, answer questions, and build customer trust and loyalty.
Improve customer experience: Sales staff can help customers learn about the company’s products or services, helping them better understand the features and benefits of that product or service.
Increase advertising effectiveness: Sales can help increase advertising effectiveness by helping potential customers better understand a product or service, thereby generating trust and interest in it.
Stand out from your competitors: Sales can help businesses differentiate themselves from their competitors by showcasing their products or services and creating customer trust and loyalty.
The main goal of marketing communications is to promote a company’s products or services to potential customers and create brand awareness. Specific objectives of marketing communication include:
Build brand recognition: Communication helps build brand recognition by bringing information about a company’s products or services to potential customers through media channels, thereby creating brand awareness.
Increase awareness of products or services: Communication makes a company’s products or services known to potential customers by using media such as advertising on television, in newspapers, on the radio, on social networks , email marketing or event sponsorship, …
Introducing New Products or Services: Communications help introduce a company’s new product or service to potential customers and generate curiosity and interest in that new product or service.
Create brand trust and credibility: Media can help create brand trust and credibility by conveying messages about product quality, company reputation or social activities.
2.6. Relations (promotional reissue)
The goal of public relations (PR) in marketing is to generate public interest, trust, and support for a company’s brand, product, or service. Public relations helps build good relationships with customers, communities and other stakeholders through communications activities, events, gifts, sponsorships and management of conflict issues.
Specific objectives of public relations in marketing include:
Create brand trust: Public relations helps companies create brand trust by conveying messages about product quality, company reputation, and community social activities.
Generate interest and reach customers: Public relations helps generate interest and reach customers through communication activities such as writing reports, creating content for websites, using networks social services and the organization of events.
Build good relationships with customers and the community: Public relations helps build good relationships with customers and the community through communication activities, sponsorships and giveaways.
Managing Conflict Issues: Public relations helps businesses manage conflict issues that may arise during the business process by coordinating with stakeholders to resolve issues and convey the right message.
Building brand image and position: Public relations helps companies strengthen their brand image and position through communication activities and events.
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