Marketing is the act of deliberately stimulating demand for goods and services by way of creative branding, advertising or promotion; potentially including wide range of consumer characteristics; and selection of a targeted market. In marketing activities, two complementary but often opposing strategies are generally applied: one encourages customers to make purchases immediately and the other encourages them to seek alternative sources of satisfaction. Marketing is an integrated process involving evaluation of the marketing strategy by various disciplines such as economics, sociology, psychology, and marketing, before implementation. Market research is conducted to understand consumers buying behavior, identify desirable qualities and attributes, and to construct marketing messages that will be most effectively targeted to buyers. Marketing is typically planned around a company’s product or service and uses a variety of marketing approaches such as advertising, selling, public relations, and promotions.
Marketing is part of a comprehensive approach to the sales process, and it should not be thought of as a single dimension of sales management. Rather, it is an integrated set of activities designed to increase sales by developing relationships with customers, creating awareness, and understanding their needs and preferences. Marketing encompasses all areas of customer interaction, including the decision making process, the early identification of the products or services that will best meet customer needs, developing a sales proposal, developing a marketing plan, and communicating with the customer. Marketing is therefore, an approach that takes into account many of these processes, and each of these processes should be examined in turn to see if they have a bearing on the final outcome. The four main marketing strategies are: relationship marketing, individual marketing, brand marketing, and presence marketing.
In addition to the direct marketing techniques already described, there are also indirect marketing techniques such as the following: customer attraction, the selling system, price reduction, publicity, and product development. These techniques are all interrelated and can be used together or independently to achieve different results. The marketing research process should always include a focus on how customers find the product or service to which they are being exposed, and this will help in designing the advertising programs aimed at increasing sales. The results of marketing research can be valuable in improving a company’s efficiency and effectiveness in its various marketing activities.