Understanding of marketing, type, process, purpose and example
Marketing is a business term defined by experts in many different ways. In fact, even at the company level, people might see this term differently. Basically, marketing is a management process where products and services move from just a concept to customers.
This includes product identification, determines requests, deciding the price, and choosing a distribution channel. It also includes developing and implementing promotional strategies.
Want to know in depth understanding of marketing, type, purpose, and for example for your business? Here is a full review.
Marketing is a product promotion or business service to the target audience. In short, this is an action taken to pay attention to business offers; Can be physical goods for sale or services offered. General examples of marketing are included television advertisements, roadside billboards, and magazine advertisements.
But not all businesses have needs and market goods and services in the same way. In fact, there are several different approaches about how marketing can succeed for an organization.
This approach is called the marketing or philosophy concept that determines the type of marketing tool used by a company. The marketing concept is driven by clear goals that take into account cost efficiency, social responsibility, and effectiveness in certain markets.
The marketing concept consists of:
- Production concept
- Sales concept
- Marketing concept
- The concept of social marketing
Setalh knowing the meaning of the next marketing is to know the type of marketing. There are various types of marketing or marketing strategies available. Taking a marketing strategy including analyzing your business needs, your target audience, and your product specifications.
The two main types of marketing strategies are:
1. Business Marketing to Business (B2B)
2. Business marketing to consumers (B2C)
The most common form of marketing is business marketing to consumers (B2C). Let’s find more about the types of marketing strategies available.
1. Paid ads
It includes various approaches to marketing. It includes a traditional approach such as television advertising and print media advertising. One of the most famous marketing approaches is internet marketing. It includes various methods such as PPC (pay per click) and paid ads.
2. Cause Marketing
Cause Marketing connects the company’s services and products with the causes or social problems. This is also known as marketing related to causes.
3. Relational marketing
This type of marketing basically focuses on customer development. Improve existing relationships with customers and increase customer loyalty.
4. Undercover Marketing.
This type of marketing strategy focuses on marketing products while customers still do not know the marketing strategy. This is also known as stealth marketing.
5. From word of mouth or word of mouth
It depends completely on what you want to leave for others. This is traditionally the most important type of marketing strategy. Listen to it is important in the business world. When you provide quality services to customers, it’s likely they will promote you.
6. Internet marketing
It is also known as online marketing and usually occurs through the internet. All marketing items are shared on the internet and are promoted on various platforms through various approaches.
7. Transactional marketing
Sales are the most challenging work. Even for the biggest retail, sales are always difficult especially if there are high volume targets.
But with a new marketing strategy, sales are not as difficult as before. In transactional marketing, retailers encourage customers to buy with shopping coupons, discounts, and large events. This increases sales opportunities and motivates the target audience to buy products promoted.
8. Diversity Marketing.
It serves a variety of audiences by adjusting and integrating different marketing strategies. It includes various aspects such as culture, trust, attitude, views, and other special needs.
- Make sure your business goals.
- Determine your market situation, focusing on problems that affect your customers, products, and competitors.
- Set goals and goals.
- Determine the market and your customer’s profile.
- Determine your creative position, brand, and strategy.
- Set marketing strategies for products, prices, distributions and promotions.
- Describe your communication tactics.
- Set your budget.
- Blue Print Your Action Plan.
- Determine opportunities for long-term market development.
The purpose of doing marketing
Besides knowing the definition of marketing, knowing marketing plans is also important. A great marketing plan is built on the foundation of the purpose that represents the needs of your most urgent business. But how do you determine the right goal? Here are 12 complete objectives of the marketing process.
Perhaps the purpose of Saru should not be surprising because it tends to be the final destination for marketing efforts on your business.
This can be a challenging goal for several marketing organizations with a larger sales cycle – in this case, often the best is to choose the main growth indicator. You can measure your success in terms of income or order based on your business model.
Generate prospects (or opportunities)
If you want the measurement of more real-time marketing effectiveness, select the results that appear at the start of the sales cycle.
If you measure prospects, it is best to choose high-quality prospects such as marketing prospects that meet the requirements or prospects received by sales to avoid declaring success based on prospects that do not meet the requirements.
Get new customers
Bringing new customers is a good goal for many types of businesses, regardless of whether you sell to individuals or companies. Although this seems quite easy to measure, some companies have difficulty counting new customers with reliability.
If you have a SaaS business, this can be one of the most important sizes for your long-term success. You can measure this based on retention, for example by maintaining 95% of customers.
Up-sell and cross-sell
If you have a set of customer fixed, the best way to develop is to sell more similar products to existing customers (up-sell) or sell new solutions to existing customers (Cross-sell).
This is a matter that might be difficult to measure for several companies based on their system, but this is a consistent goal that is consistently for more mature companies.
Increase Brand Awareness.
It’s easy to say that increasing brand awareness or brand awareness is your marketing goal, but this is difficult to measure.
If this is the goal of your marking, you can choose the indicator produced as a measure of consciousness, such as the prospect of entering, web traffic, or followers on social media.
Increase customer satisfaction
Over the years, marketers are increasingly driven to improve customer satisfaction – especially if the marketing team has product responsibility. As a result, functions such as customer marketing or marketing are more general customer advocacy.
The most common customer satisfaction measurement is the Net Promoter Score (NPS), but you can also choose other survey instruments.
Launch new products or solutions
Bringing new solutions to the market helps encourage the growth of your company – and the product marketing team is often responsible for the management of the launch of new products or services.
Be careful not to measure your success just by launching the product – on the contrary, you must choose market acceptance indicators, such as questions, reviews, prospects, or new sales of products depending on the length of the sales cycle.
Re-brand or re-position
Successfully re-positioning or re-branding companies or products you can accelerate your business growth. This is another one that might be difficult to measure, but you have to choose a metric like the inclusion of your new position in the media and analyst communication (as the main indicator), brand awareness, or increased growth.
Increase Web Traffic
Sometimes your target is quite simple – like making more people coming to your website. This is another area where quality metrics are very important.
Make sure you can measure the qualified traffic, the ratio ratio, conversion, time on the page, or a similar indicator that you get the right person to come to your site.
Examples of big successful marketing processes
After knowing the definition of marketing, type, process and its purpose the next step is to know the example of a successful marketing strategy.
Spotify: offers a different user experience
At present, Spotify is one of the most famous global companies on the planet. But how can this Swedish brand conquer the world?
There are many streaming music services, but which makes Spotify unique focus help users find new content. Spotify solve ordinary music streaming platform molds and instead offering a truly new user experience to listeners.
For example, in addition to a typical filter based on genres, Spotify also allows users to choose music based on their mood, whether you want to exercise, sleep, or even need some songs to be sung in the bathroom.
This helps users find songs that have never occurred to them and in turn, strengthens their relationship with the brand.
They also become the leading in using artificial intelligence to compile playlists specifically based on their user’s habits, such as release releases and found weekly.
GoPro: Believe Used User Content
GoPro Camera is a favorite among adventurers, adrenaline addicts, and athletes because they managed to record content that could almost not be recorded using traditional cameras. Because of the nature of its products, GoPro is able to make spectacular content.
One of their best marketing strategies is how it facilitates their customers to share good user-made content.
For example, GoPro editing programs make videos with early and end-recognized frames that display logos and Gopro brands. GoPro then distributes this video on social media, which in turn inspires more users to create and post their own videos.
This strategy proved to be very successful. Do not believe? Check the official Youtube channel Gopro now and see how much subscribberhya. The video on their channel is the user-made content.
Nike: Promote your value
There are only a few brands that can be recognized as Nike and the “Do It” slogan or in Indonesian means “just do it”. From the beginning, this brand focused its marketing on promotion of brand values, such as overcoming difficulties or innovation.
To convey this culture to its audience, Nike rely heavily on Storytelling: advertising that tells inspirational stories and provoking positive emotions to users. In addition, the brand value is not only present in your marketing, but in everything you do.
That is the complete understanding of marketing that you need to know. Building a good marketing strategy will certainly be useful for your business as a whole, because in the end this will provide many advantages to you.
However, the thing you have to do is ensure that you have enough budget so that your marketing plan is running optimally.
Record every expenditure you make for marketing programs on business financial records, make sure according to the initial plan and don’t overdo it so that there is no waste.
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