Marketing is the process through which the production firms create value and products to their chosen customers by meeting their needs while ensuring that such companies make profits to products that they offer (Peter 1954). The marketing activity involves the management processes and coordination of the 4 P’s elements of marketing which are; Product identification, its selection and development, Price determination of the products, Place selection through which the products shall be distributed to the customers and Promotional strategies through which the management ensures the development and implementation of the marketing plan.
Marketing is different from products selling and is mostly based on the ability of the marketer to think about satisfying the needs of his customers, whereas selling is concerned with the activities and techniques that pursued people to buy their products. Marketing involves advertising, public relations, and sales of products. The objective of marketing is to ensure that the products and services that are produced by the producing companies are known, made available and recognized in the market by the buyers (Robert 1997). The business must be concerned to the customers needs more that the product for if more of their needs are addressed in satisfying manner, the sales rate will increase and as such, an increase in production rate. Contrary therefore, if a firm concentrate on the products and disregard the customers needs, you may lose your customers. Marketing can be carried out in various types and methods that suit the company. The following are some of the types that are employed (Peter 1954).
Offline Marketing
Offline marketing is currently still being used even though the introduction of online marketing seems to supersede it (Alvin 2006). Adverts through radio, billboards and banners are still effective ways to relay product information to buyer.
Online Marketing
Online marketing has proven to be most effective since the introduction of internet. Its productive and cost effective as it cut costs on some methods of offline marketing such us of billboards (Peter 1954). The type covers a large number of people in for short period of time after uploading an advertisement.
Word-of-mouth marketing is considered the best adequate form of product marketing that a company should invest in; moreover, it is considered that when the customer’s needs are ultimately satisfied, the company needs to spend no money as the customers themselves will make the campaign effect (Alvin 2006). Therefore for such trend to keep on, the companies should be in good relationship to their customers for they will tell off to their friends and relatives about the company’s product and as a result, their friends would wish to try it resulting in an increase sale of products.
Importance of Marketing.
Marketing when properly managed in a business, it greatly contributes to the success of such firms for products distribution and production depends on how the organizations market itself (Abhijeet S 2010). The following are some of the importance of marketing;
- Marketing boost product sales
When the public is informed about your products through media and online ads, this will improve on sales made by the company (Peter 1954). Therefore to increase production and selling rate of the products, the firm must have an efficient and effective strategic marketing plan.
- It promotes product awareness to the people.
The primary objective of marketing is to make the products produced by different firms recognized in the market (Abhijeet S 2010). For a starting business, it can be recognized by advertising and promoting their products and company information to the buyers through media, banners, and online ads.
- Marketing also builds a company reputation
It’s important to be recognized in a certain field or product and conquer the market such that no other company can competes you (Alvin 2006). Marketing the company branded name can be used to recognize its products and moreover, the consumers will easily associate the logo and images that is advertised to the brand name.
Marketing plan.
A marketing plan gives out the procedural directions, methods and objectives for a business clarifying the important marketing elements that should be considered for a business to prosper (Peter 1954). It gives direction how the company will implement a product idea and transform it to a commercially viable good and in return earns the company profits. The following are some of the benefits of a marketing plan.
1. A marketing plan helps the business to keep sight of the big picture
A well prepared plan helps the business and the entrepreneur is in focus of the big ideas and virtualization of the company growth and as a result the work hard to attain such inspirations (Alvin 2006).
2. It keeps the companies marketing efforts aligned with its goals and objectives.
A correctly prepared marketing plan shall help the business management term to determine what activity to be done and that not be done (Peter 1954). This keeps the team focused on work related issues that are of importance to the organizations to accomplish its goals and objectives.
3. A marketing plan gives a company confidence to succeed
A good marketing plan will guide you through the steps required to succeed whenever attempts you make fail. The plan shall give direction and anticipates the future problems giving room for a possible solution (Alvin 2006). This way one might be confident of success and as such continue working.
4. A marketing plan keeps the companies efforts proactive
A marketing plan normally define the organizations strategies by identifying the procedural steps to be followed to execute the strategies and the things you need to do in order to correct problems that might be encountered, a plan therefore protects the company against traps keeping the management form the offensive(Alvin 2006).
5. A marketing plan puts the whole organization on the same page
Many organizations and departments within such organizations suffer for they are not unified with each and every individual having different goals, objectives and opinion on what should be done and how it should be (Robert 1997). Therefore a well prepared marketing plan shall unify people and give them a platform to discuss their ideas and opinion so that the ultimate goal of the organization be achieved by everyone’s contribution.
6. A good marketing plan will make it easy to evaluate new opportunities
It’s always difficult to determine if an idea will be able to sell and compete in the market meeting the needs of the customers satisfactory (Abhijeet S 2010). The question is how does one know if the idea and opportunities they have will are succeed? A marketing plan therefore gives you the criteria circumstances to be evaluated to determine if the ideas can succeed.
References.
Abhijeet S.(2010). Importance of Marketing, New York: New York Publisher.
Alvin J.(2006). What is marketing?, Boston: Harvard Business School Publishing.
Peter, F.(1954). The Practice of Management, New York: Harper – Collins Publishers.
Robert J.(1997). Creating a Marketing Plan. , Boston: Harvard Business School Publishing.
