Sunday, August 19, 2012

Definition of Marketing


A definition for marketing, in the broadest sense, is that marketing is a set of all activities designed to lead to an increase in sales of a product or service. These activities should bring attention to the product or service, motivate customers to consider, buy, and I hope that a new purchase.

The best way to create a "Marketing Plan" is to put the ideas down on paper. Brainstorm all the possibilities, write them, then rearrange the ideas follow a common map for marketing in general. Showing the works of the marketing plan can be verified by an increase in sales. This is the true test.

A definition of marketing is very different from those for advertising, promotion, public relations, advertising and sales. These terms actually are all included within the realm of marketing. Marketing is much larger, as compared to a map on the city map. Increased sales would be the final destination on the map. Marketing usually refers to the attempt to sell a product or service, but may include several. It focuses on a product or service, how to foster such an element, how to distribute or sell that item, and, finally, how to maintain an ongoing relationship with the buyers of that item.

Marketing starts with basic research on the product or service, looking at existing and developing competition, and objectives (the public) to this article. The average marketing efforts will lay the plans on how to advertise, promote, advertise and sell. Finally, the complete marketing will set targets for sales success, and a budget for the entire process.

Marketing does not end with the budget. Rather, it is an ongoing process. There is a simple code that refers to this: the 4 Ps (Product, Price, Placement and Promotion). Marketing and plan to accomplish this can be done either in-house or from another agency.

The research is important to determine the final price of the product or service. You must know the advantages of voice in relation to customer value. If the customer does not receive the expected value for the expected benefits in relation to the price, not purchase. In abbreviated form, this is expressed as: Value = Benefits / Price. (V = B / P)

Here is an outline of points that together they would include a definition of marketing:
Summary of objectives and the voice
Objectives for this plan
Competitive analysis - of the company, customers, competitors, support staff and businesses, the current business climate and future expectations
Target market (description of the target, the percentage of sales you want, and the comparative prices of the product)
Other marketing strategies that can be applied
Rationale for the strategy chosen
Product description and price
Distribution (placement)
Promotion (advertising, public relations, media)
The projections for sales (short and long term) and the method to quantify the sales
Conclusion - why this plan will work
Exhibitions - any sample chart, announcements, statistics relevant to the product or service

In summary, "marketing" is a product or service "map". Increasing sales is the destination. The best way to reach your destination is to follow a map. A marketing plan creates the map that allows marketing to work .......

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