Know Marketing !!!!!!! How does it help Business??

Marketing is the holistic relation of an institution with the various markets it serves or would like to serve. This broad definition includes all aspects of the institution and its approach to offering products to its current and potential clientele.

Marketing is not only a means of selling more products more effectively or of developing new and more customer-oriented financial products. Rather, it involves the entire institution, from the accounting department to the training department, from headquarters to branches, from the General Manager to the front-line staff.

Marketing brings together information from internal and external sources to determine the best answers to the following questions:

1. Which products and services are needed and will be bought?
2. What price is acceptable to clients?
3. How can products and services be sold in the most efficient and effective manner?
4. Which information channel is best able to reach clients to make the product known,valued and demanded?

Marketing plays a very important role in business and the success of the organization. The various areas of production and services depend basically on marketing style. As sales and marketing are thought as the similar concepts but these two concepts are very different from one other. Sales are the part of marketing. Marketing deals with vast process, which covers Advertising, sales, PR, customer satisfaction etc. It is the process by which we introduce and promote the product and services into the market and encourages the level of sales that is going to be from the buying consumers. Sales mainly deal with the actual transactions of the products consumed in the market.

The main goal of marketing is to create a recognization of the product in the market, for which marketers must be intelligent and creative in their marketing activities. In this competitive nature of many businesses, getting the product noticed is not that easy.

Marketing is a broad topic that covers a range of aspects, including advertising, public relations, sales, and promotions. People often confuse sales with marketing, when in fact the two are very different. The former involves getting a product or service into the market, promoting it, influencing behavior, and encouraging sales. Sales are the actual transaction of getting a product or service into the hands of your customers.

With so many messages bombarding the consumer in the marketplace today, it is now more difficult than ever to get your product noticed, so marketers have learned to be creative. 

Companies without a marketing mindset are at a disadvantage in today's business world. Those who are still centered around their products, rather than their customers, are doomed to fail. Knowing what your clients' expectations are, exceeding them, and building a reputation based on that is the key to success. Pay attention to your customers, and they will come back time and time again. Ignore them, and they will disappear faster than you can spend your marketing budget to try to bring them back.

Many people do not know much about marketing and they always feel that the marketing staff in the company is a burden on the company and they do not justify the dollars spent on them. But the fact is that sincere marketing efforts never go waste. When you invest in marketing related activities, you are sure to reap benefits. Well run marketing campaigns can help you earn good profits. 

Some people have a misconception about the term marketing, they feel that it is an easy task and anyone can do it. But as a business person you have to get rid of this view point and employ a professional marketing agency that will device your marketing strategy and help you execute it as well. Or you can also have the assistance of an independent marketing consultant who can oversee the marketing efforts that are being put in by the marketing department.

The world today is globalizing and many of the business are centered on the customers more than its product because the customers are only the one who keeps the business alive. The good quality is also the essential part of the product but the buying public for that product stands the most important and strong part. If we could create more of their need, their want and their desire then they will come back again and again and also brings long retentions. And if you focus more on the product rather than the public need then your business is going to fail and you will lose your buying public at no time and to recover this again is the crucial part task and depends upon again the situation and the strategic move of marketing activities.

 

Some of the importance and facts about Marketing

Creates image and awareness of the product to the market

As in the previous paragraph it has already been mentioned that the primary goal of marketing is getting product and service reorganized. Unless you have already established an image and recognization in the industry, probably no businesses do ever think of letting the public to find out the business themselves. But if it comes to the new business then the only way to create the image and awareness to the public about your product is the means of advertising and promoting. You business spends much time on promotional programs and advertising but the most important thing is that the product and the company information is disseminated to the potential buying public.

There are various types of marketing approaches and strategies that can be utilized by any company. All approaches of marketing tries to introduce recognize and promote the product awareness and try to build a good image to the market as large. There is possibility for the public to be educated with products and can take advantage from them and this make possible by offline and online marketing. Many of the companies invests in marketing so they would not miss thee marketing and the opportunities in the market with will get discovered but if the thing comes to the expense to be considered then there are many other cost effective marketing technique which can be applied and some of the good examples are blogs and pay per click add posted in the internet. This process helps the company to create awareness to the public about their product and forms some image by with public spend their income on the product.

Increasing the sales

We came to know that marketing plays a vital role in creating awareness to the public about the products and services. Not only the awareness, marketing also helps in increasing the sales, productivity and generates maximum profits. Through advertise, radio, news paper, pumplets, online ads, public learns about the product and it creates an image and the public starts buying if the product is worth buying. The more these strategies of advertising are applied the more the public hear and see and get interested to buy your products. If any of the company tries to increase the sales and increase the production and have the double profitability, then the marketing department must be able to apply the right marketing mix and should choose the right type of promotional strategy and come up with correct and valid strategic marketing plans.

Reputation

Reputation is the main tool of any company to ply in the market in long run. In order to capture the market, the company or the marketers of the company’s product should create the brand name. This is a technique by which consumers know about the brand with their images, logos or they can remember the caption that they hear on the advertisement.

For example, KFC is known for its brand name which identifies the fast food restaurants for chicken and it attracts the mass of people who knows what KFC is and hears about it. Some companies may take time in building these reputations and creating the awareness to the public but some companies are fast and it depends upon the type of the product they are producing and the strategies they are applying for the promotion of their product and the values the product is going to deliver to the consumer in the market. The established name and fame of the company helps it to grow continuously and expand because more and more consumers will buy the products and take advantages of the services due to the good reputation of the company.

Encountered with the example, 

Sony music system is famous on its quality and its performance and has a good reputation and so people feel comfortable to buy their product. The innovation and the marketing strategies they apply is they focus on the price and the quality and the consumer taste and income and they gain maximum retention from the public and the public no doubt purchase their products.

In conclusion we can say that Marketing is a very important and essential part in the companies success , it plays a vital role in the whole process of the business. It furthermore gives information to the public and people about the latest market trends and helps to increase the sales and gain profit and also develops product and reputation. To do this Marketer must be innovative and clever enough to place their product applying the right kind of marketing strategy at the right time. We know that marketing is important and useful, but if it is not done in a proper way the company might have to bear a very heavy loss and also my have to quit the business platform. So it is for sure that it should be conducted and researched critically.