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This article will dwell on the following marketing concepts:
Marketing activities
Marketing management principles
Techniques in marketing
Strategies in marketing
Market creation
The discussion of the above mentioned terms will take the form of question then answer:
1.What are the activities that are involved in marketing?
The activities that are normally done in marketing are
a. Profiling is done to gather information before marketing policy is established. A profiler typically considers the following characteristics of products and services to users:
- affordability
- relevance
- preferences
- staffing
- extent of use
- repeat customers
b. Planning of products refers to the development of goods and services that can satisfy the things profiled above. The one in charge of this aspect must take note of the following questions:
-Who will use the product or service?
-What products and services can catch the attention of the targeted groups?
c. Pricing determines the amount of each product or service and other factors such as competitors' prices, discount structure, and distribution channels, among others.
The following questions are considered for this marketing aspect:
- Should the information on products and services be given for free? If yes, why and to whom?
- What are the criteria for pricing a product or service?
- What are the costs of generating a product or service?
- What factors are considered before arriving at a price for a product or service?
d. Promotion stimulates demand and therefore increases profit from sales. It makes use of every media available that are accessible to potential customers. Promoters ask themselves the following queries:
- Who are the targets of the promotion?
- What are the messages to be sent to them?
- What are the media that can be used to transmit the promotional message?
- What are the factors that will be integrated in the promotional message?
e. Distribution refers to the flow of services and products from the manufacturer. These are the channels of transport:
- mail
- telephone
- interpersonal delivery
- group delivery
- mass media
- computer network
- local depositories
- in-house dissemination
2. What are principles of marketing management?
The principles are:
- Marketing management should be given equal importance as finance, production, and administration.
- Marketing management must complete the activities mentioned above.
- Even if marketing activities are divided, the decisions should be integrated.
3. What are the marketing techniques that apply the principles mentioned above?
The techniques in marketing can be divided as follows:
- practical techniques and skills
- those used for analyzing costs and other factors
- those used to obtain market data
- those used to create and stimulate demand
4. What is the difference between marketing techniques and marketing strategies?
Marketing strategy is the art of applying appropriate techniques in a given situation.
5. What is the probable result of applying appropriate marketing techniques or strategies?
The answer is directly involved in the creation of a market. Here are some situations:
- If you can increase the sales, then you can create a market.
- If you can stimulate customers to buy, then you can awaken a sleeping market.
- If you can increase the demand, then you can create a market that did not exist before.
It suffices now to say that the product receives life upon the creation of a market through proactive marketing management, which by itself, entails a lot of things.
Now the question is, "Can you create a market?"
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