What is Marketing
You know what is marketing in my view? It's about saying the right things to the right person. To help put things in research, we could just state marketing as a process that recognizes, expects, and supplies customer needs and requirements in an efficient and profitable manner. When you think of your business as all about people and money, there's one thing you should know about the marketing strategy; the art of finding the right people to persuade. Simple as that.
A marketing plan alone isn't responsible for placing products and services in the hands of customers, and then, sitting idle. It involves with it a number of disciplines such as, sales, packaging, pricing, and distribution. Once you figure out the bits and nuances of marketing management, all the marketing strategies that you execute contribute to earning you large profits. What follows below is comprehensive information on more of marketing jobs and strategies that get you the right exposure, and the right career, if at all you're eying on making a career in the same. For now, following are the two important marketing facets for you to understand marketing better.
The Two Aspects of Marketing
Fundamentally, marketing in the marketing environment could comprise an extensive rage of activities that are involved in ensuring customer satisfaction, with suitable value in return. Marketing, basically, comprises two aspects: inbound and outbound. That's where an efficient marketing strategy comes into play - knowing exactly how to build one around potential customers. The sole purpose of both the facets of marketing is that consumers just don't buy the product, but the concept behind it. Once you know marketing research's key purpose, you'll realize that the strategy you incorporate depends not on how well you sell, but how good will it do to your customers. End of the line.
Inbound Marketing
Inbound marketing comprises researching specific groups of potential clients and customers with a particular set of needs. Essentially, a marketer needs to know how those needs and requirements will be fulfilled. Well, this calls for a comprehensive review of how the product must be designed so that needs be met. What's more, an undoubtedly important aspect of inbound marketing is to know who your competitors are. Assessing the strategies they incorporate, the market they target, and the source of access they offer, are a few things to be kept in mind.
The marketer shall know how to design his product in a way that the consumer doesn't go anywhere else to buy it. In addition, inbound marketing requires appropriate branding of the product. Other than inbound marketing, there is a lot a marketer is supposed to do when it comes to marketing outbound. The following segment gets us acquainted with it.
Outbound Marketing
Marketing outbound way might just allure many marketers, for it usually doesn't involve the insights of marketing. Advertising, promotions, sales, public relations, and customer service make up comprehensively for outbound marketing. However, this is where most marketers go wrong. It is not possible for a marketing executive or organization to jump into outbound marketing, without paying attention to the inbound one. In fact, they are inter-related, for outbound marketing strategies are devised on the basis of inbound marketing research. Think of it, when one doesn't even know who his targeted customers are, how would he be able to sell the correct product to the correct target market? Precisely, ineffective inbound marketing and improper market research lead to even more ineffectual outbound marketing and sales.
Marketing Mix
If you've gone through a plethora of write-ups on marketing, you must've come across a word called the marketing mix. Well, it's nothing but a concept of four variables or the seven Ps of the marketing strategy that, when employed, incorporated, and optimized, result in successful promotion of a specific product in the market. Those 7Ps of marketing mix are nothing but:
- Product
- Price
- Place
- Promotion
- People
- Physical Layout
- Process
