About Marketing

 

 About Marketing

 

 

 

 

 

 

What is Marketing? 

Marketing is the process of communicating the value of a product or service to customers. Marketing might sometimes be interpreted as the art of selling products, but selling is only a small fraction of marketing. (en.wikipedia.org) 

The process of the fulfillment of human needs and desires that is the marketing concept.

From a social standpoint, marketing is the relationship between the material needs of society and economic patterns of response. Marketing meet the needs and desires through the exchange process and build long-term relationships.

The process of communicating the value of a product or service through the positioning to customers. Marketing can be seen as an organizational function and a set of processes for creating, delivering and communicating value to customers, and managing customer relationships in ways that benefit the organization and its shareholders.  

Marketing is the science of choosing target markets through market analysis and market segmentation, as well as an understanding of consumer buying behavior and deliver superior customer value.

There are five competing concepts in which an organization can choose to run their business, the production concept, product concept, selling concept, marketing concept, and holistic marketing concept. The four components of holistic marketing are relationship marketing, internal marketing, integrated marketing, and social marketing responsive. The set of involvement necessary for successful marketing management including, capture marketing insights, connect with customers, build strong brands, shaping market offerings, delivering and communicating value, creating long-term growth, and develop marketing strategies and plans

The process of communication in marketing activities are integrated communication that involves 4 main components. 

- Product
- Price
- Promotion
- Place (including distribution)

Because marketing is not an exact science such as finance, marketing mix theory has also been growing. In its development, also known as 7P where 3P term is hereinafter People (People), Physical Evidence (Physical Evidence), Process (Process). The author Seth Godin, for example, also offers a new theory that P Purple Cow.

Marketing is seen more as an art than a science, then a marketing expert depends on more on skill rather than a consideration in making policy-oriented science.

Economists outlook towards marketing is creating the time, the place where the product is necessary or desirable and submit the product to satisfy the needs and desires of consumers (the marketing concept).

Classic marketing methods like 4P above apply also to internet marketing, even in the internet marketing is done by many other methods are very difficult to implement outside of the internet world. 

What is included in the marketing activities? 

Activity marketing activities are very diverse, but basically includes everything needed to meet human needs as a consumer. Meet and minister to people in general. It includes all the processes that take place between producers and consumers. 

Some examples of the scope of marketing activities such as: 

• Planning the desired product using marketing research and pricing. 
• The introduction and promotion of a product so people know the various tools such as advertising, public relations and marketing communications.
• Setting the price and let potential customers know about your product and make it available to them. 
• Shipment of goods to reach the people who need

 

 

 

 

 

 

 About Marketing

 

 

This is a Basic Concept Underlying Marketing :

1. NEEDS
 

The core concept of marketing is to understand or feel the “human needs” that denotes the state of felt deprivation. Therefore being the marketers you need not go for inventing these needs. Rather you should try to understand it. The needs are in-built in human nature itself and thus naturally existed in the composition of human biology and human condition. When the needs are not satisfied, a person will try to either reduce the need or look for a substitute object that has the ability to satisfy the need.
 
The need for food, clothing, shelter and safety are the basic physical needs and the needs of belongingness and affection are the social needs. The individual needs include the need for knowledge and self expression.

2. WANTS
 

Human wants are desires for specific satisfaction of deeper needs that means the needs become wants when they are directed to specific object that might satisfy the need. For example, a teenage may need water to quench his thirst but want to have a cold drink. Human needs may be few, but their wants are numerous. 

These wants are continually shaped and re-shaped by social forces and institutions such as families, collogues, office neighbours etc. Marketers need not to create needs because these needs pre-exist in the market. But they can influence the wants and suggest and inform the consumers about certain products and persuade them to purchase these by stressing the benefits of such products.

3. DEMANDS
 

People may have almost unlimited wants. But resources are limited in compare to the wants they have. Therefore they have to choose the products that are likely to provide the most value and satisfaction for their money. When backed by purchasing power, wants become demand. Thus, demands are basically wants for specific products that are linked /associated with the ability and willingness to pay for these products. 

For example, many desire a car such as Mercedes Benz, Toyota, BMW, Honda etc. but only a few are really willing and able to buy one. Therefore being a marketing executive you must measure how many people would actually be willing and able to buy your company’s products than how many of them want the products.

4. PRODUCTS
 

To satisfy the wants and needs of people the company must offer their products in the market. That means people purchase the products to satisfy their needs and wants. Specifically, a product can be defined as an object, service, activity, person, place, organisation or idea. You can note here that the tangible items are known as product while the intangible items are known as service. The hidden use of a physical objects may be to provide the service. For example a lipstick is bought to supply service (beautify); toothpaste for whiter teeth – prevent germs or give fresh breath etc. 

Therefore it is the job of marketer to sell the service packages associated with the physical products. If you give a thought, you will realise that the importance of a product does not lay not so much in owning them than to use them to satisfy our wants. For example, we do not buy a bed just to admire it, but because it aids resting better.

5.· EXCHANGE

We have already got that marketing takes place only when people decide to satisfy needs and wants through exchange. So in the process of marketing there is exchange value between the two party’s i.e buyer and seller. The value for buyer is to obtain the desired object to satisfy its needs and wants while the value for the seller is generally the profit or the money. For example, hungry people can find food by hunting, fishing or gathering fruits. They could offer money, another food or a service in return for food. 

Marketing focuses on this last option. Kotler (1984) states that for exchange to take place, it must satisfy five conditions, namely:

(i) There are at least two parties.
(ii) Each party has something that might be of value to the other party.
(iii) Each party is capable of communication and delivery.
(iv) Each party is free to accept or reject the offer.
(v) Each party believes it is appropriate or desirable to deal with the other party.

 

 

Evolution of Basic Marketing Concepts

A few decades ago, companies face a number of tough decisions for marketing their products. They had to determine product features, and quality, establish accompanying services, set the price, determine the distribution channels, decide how mush to spend on marketing, and decide how to divide their resources among advertising, sales force, and other promotion tools. Modern marketing has become very complex and dynamic.

Chronologically, the concepts are classified in five. They are mentioned below:
 

(i) Production concept,
(ii) Product concept,
(iii) Selling concept,
(iv) Marketing concept, and
(v) Societal Marketing concept.

(i) Production Concept: 

This concept assumes that customers will favour products that are available and highly affordable and that management should therefore; focus on increasing production and distribution. Most of producers believe that the customers prefer only low priced products and so they concentrates on large scale production to reduce the cost. 

A firm may apply this concept in two types of situations:
 

(a) When the demand for the product or service is higher than the supply of the same.
(b) When the cost of the product is high and increase in production is going to reduce the cost due to economics of large scale production. 

This concept can work only in a sellers market. In buyer’s market it fails to market under keen competition. American luxury car market was captured by Japanese and European car because of this concept.

(ii) Product Concept: 

This concept assumes that buyers favour those products that offer the most quality, performance and features. The producers are of the opinion that it is the quality of product that attracts the customers, the quality of the product alone will yield satisfactory sales and profits. 

Though this concepts appears to be initially very sound, it failed in actual operation. Leading companies have produced quality products but have not been able to push up the sales, unless they take positive steps to design, pack and price attractively, to place them in proper distribution channels, bring them to the notice of persons concerned and convince them that the product is of superior quality. No wise marketer can follow this philosophy of marketing in this competitive world. 

This concept may lead to “marketing myopia” or short-sighted marketing because of undue concentration on the product rather than the needs and desires of consumers for whom the products or services produced.
 
(iii) Selling concept: 

The selling concept assumes that the consumer’s response will not increase without promotional efforts. Even the best products cannot have assured sales without the help of sales promotion and aggressive salesman-ship. It implies, the consumer’s satisfaction is considered secondary; selling the product is the primary consideration. 

The seller in the long run is likely to lose his customers, who would not be satisfied with the product. Dissatisfied customers do act on their dissatisfaction. As a result, the dissatisfied consumers do not purchase further and do not recommend your product to any of their friends and relatives or they do complain to consume. 

Since there are many potential customers, the producer is not very particular about the reparative sales in monopoly or less competitive markets but in highly competitive market, the producers are under compulsion to play attention or reparative purchases. The selling concept starts with the factory and it focuses on the existing products and promotion and calls for heavy selling and promotion to obtain profitable sales volume. This concept may be explained with the help of the following diagram. 

(iv) Marketing Concept: 

This is a new idea in the field of exchanging of goods. Under this concept the organization trice its best to determine the needs, wants and values of the buyer’s market and takes all possible steps to deliver the desired satisfaction more effectively and efficiently than its competitions do. 

Every attempt is made to satisfy the wants of customers and to achieve this objective; a special programme of Market Research is undertaken. The organization fully understands that it can win the loyalty of its customers and their appreciation only by providing them satisfactory services in respect of their needs and wants. Winning the confidence of customers is as good as fulfilling the goals of the organization. It fully believes in theory known as customer sovereignty and ensure the maximum welfare of consumers, thereby ensuring a good amount of profits. 

This concept assumes that organizations produce what customer want and thereby yield consumers’ satisfaction and make profits. This concept may be explained with the help of the following diagram. 

(v) Societal Marketing Concept : 

This concept is management orientation that holds that the key task of the organization is to determine the needs and wants of target market and to adapt the organization to deliver the desired satisfaction more effectively and efficiently than its competitor in a way that preserves or enhances the customers’ and society’s well being.


Environmental trends like public welfare concerns for better living quality of life etc. indicate that organization would have to adopt socially responsible marketing policies and plans in order to assume social welfare in addition to consumer welfare. 

The socially responsible marketing concept is based on the assumption:

(a) The mission of an organization is to create satisfied and healthy customers and contribute to the quality of life.
(b) The organization will not offer a product to customer if it is not in the best interest of customers.
(c) Marketing plans and programmes shall duly consider consumers wants, interest, desires, social welfare and corporate needs e.g. profits.
(d) The organization will offer long run customer and public welfare.


The last two concepts of current market philosophy have been extensively adopted and widely accepted in the interest of the organization, the consumer and society.

The first three concepts remained successful till competitors did not emerge in a large number and supply was less than demand. As the numerous competitors came into market it became flooded with goods and services of same quality and price. 

That led producers to give importance on selling efforts like personal selling and advertisement. But the selling efforts of the producers did not last long. As almost all producers applied the same sort of selling efforts. Ultimately, the producers started price-war to increase their market share but all of them were adversely affected in price-war. Thus during those periods marketing managers were in big crisis. 

Some enlightened marketing managers thought changing of their basic attitude and philosophy to solve the crisis. They started to take into con-sideration of needs, wants, tastes and preferences of consumers for marketing their products. This idea saved them from un-necessary selling efforts including false propaganda and protected them from going out of market with the adoption of this concept. The first three concept are known as traditional concept and the last two concepts are known as Modern marketing concept. 

 

Knowing and understanding about Internet Marketing

Internet Marketing, also commonly called internet business or online business is a way of marketing (marketing) use the internet facility or online. Difference with conventional marketing is usually done in the business world in general, require the face-to-face between the seller and the prospective buyer, in internet marketing all transactions (from the offering to pay) is done with the help of sophisticated internet technology (virtual world).

With a market share of Internet Marketing you will be more widespread, no longer limited distance inter-city or inter-island but already the continent though. remember, there are about 1.5 billion internet users worldwide, it's all your market 24 hours a day, 365 days a year.

However, Internet Marketing is not a scheme, Äúget rich quick, Äù or business that can make you rich quick fast in just one day. Internet Marketing is a business or business as business in general, which requires commitment, skill and of course the capital.

Unlike businesses in general should require huge capital and risk in order to gain a big advantage as well, In the Internet Marketing business offers:

- Zero Risk (small loss rate even none at all)

- Big Profit (can be a great advantage because there is no such high overhead costs on businesses in general)

- Time Freedom (have the time freedom to do so without any rules at the time as a regular business).

Some forms of Internet Marketing including:

1. Sell ​​poduk or Self Service

The market share of internet it was very spacious, where there are millions of people who have had problems and tried to solve the problem by going looking for information on the internet at any time.

Well, the task is you who have to solve every problem by giving a solution to every problem faced by the online world explorers.

The form solution can range from making your ebook shaped to the form of video tutorials. Later on when the explorers cyberspace that need your product (e-book or video tutorial) about the problems they face during this, then that's when you can offer your product and at that time there was a price to pay so that they profit would be there in the palm of your hand.

2. Sell ​​poduk or Services of Others (Affiliate Marketing)

Type of business is that in a conventional business can also be called an agent, because the agent does not have to make a product but enough market products that she likes then on will get a commission.

So is the Affiliate Marketing business, an affiliate marketer promoting the product enough that he likes on the internet, and he will get a commission if someone who buys the product through the link, the system is suitable for those of you who want to quickly be income from the internet.

For example, there is a product called Secret Affiliate Amazon owned my colleagues who sell ebook on how to get the dollars to create a website online store selling products from amazon.com. If you are interested in the ebook, you can buy and sell it back and will get a commission from the sale of the ebook, Great commission depending on the distribution of the product owner.

You can also follow the affiliate program such as:

- Www.Paydotcom.com

- Www.click2sell.com

- Www.ClickBank.com (specifically digital products)

- Www.amazon.com

- Www.CJ.com

3. Sell ​​Licensed Reseller (Selling products under license from owner)

Many of the products and services that you can sell back after getting a license from the original owner. you can look it up on google by typing in keywords, Äúmaster resale rights, Äù, for example www.SureFireWealth.com.

4. Creating a Website Portal

The website portal is a website that contains information that is interesting and varied and can provide added value for visitors to read.  Portal www.amazon.com book sales, etc..

5. Create a Blog

Blogs are online diaries where you can add the information / content easily at any time, blogs can also be used as a marketing or promotional tool where you can enter your blog content containing information or a review or a review of a product that you sell, so expect visitors who came to be interested in your product review and will be interested in buying them.

Now you must have understood, and understood even be interested in the internet marketing business.

How you are interested in Internet Marketing?

 

 About Marketing

 

Posted in: About Marketing,Marketing