Essential Marketing Concepts
Marketing is a complex process of generating traffic to a website, which ultimately leads to increased sales. Essentially, marketing refers to the act by which an organization undertakes so as to engage its target audience and create sufficient value to gain brand loyalty, create profit through effective advertising and/or promotional campaigns, and acquire new customers. It also entails the study and measurement of consumer attitudes towards various products, services and organizations and their satisfaction levels. All these processes are inter-related and require consistent effort and commitment from the top management to yield satisfactory results.
Social media has emerged as one of the most influential marketing concepts in this present generation. In fact, social networking has been instrumental in generating new business opportunities for organizations while tapping into the hidden potentials of online communities. There are numerous social marketing processes, such as search engine optimization (SEO), content marketing, e-mail marketing, social network marketing, and viral marketing. These processes have their own unique advantages and pitfalls, and each of them has to be effectively managed in order for the business to generate the desired profit and revenue. Thus, effective social media management forms an important aspect of any marketing strategy.
Market research is another important component of marketing, which seeks to understand the buying behavior of the target market. This concept enables marketers to understand what consumers look for in various products and services, as well as what motivates them to purchase the items they are looking for. The concept of marketing research has come to play an increasingly important role in marketing, and it forms an essential marketing concept for organizations that aim at selling their products and services. The results of marketing research can provide valuable insights into the viability of the products or services, which helps the organization in determining the pricing of the product or services, the marketing strategy that will work best to reach the target group, and the mechanism by which the marketing efforts will reach the intended recipients.