Marketing Concepts You Should Know
When it comes to internet marketing, the most important consideration is to know what your business needs and wants. This helps define your market and guide you as to what type of marketing approach you need to take. Marketing does not necessarily have to be a direct approach as in the case of TV advertising or radio advertising. Direct marketing can involve a more targeted approach towards customers. Marketing also involves a wide range of activities like web marketing, search engine marketing, email marketing, media marketing, and Internet marketing.
Marketing involves the following activities: assessing potential customers, increasing customer loyalty, developing products and services, increasing sales, and decreasing losses. These marketing concepts are interrelated and interconnected with each other. For example, marketing management considers customer satisfaction as one of the key marketing concepts. Marketing, in addition to increasing customer satisfaction, should also focus on developing brand awareness. Brand awareness is created through building loyalty from consumers. As for developing products and services, this can be done through development of product portfolios that highlight the company’s strengths and minimize areas where it could lose customers.
Developing new marketing strategies takes into account the changing consumer preferences and needs. New marketing concepts also seek to develop the customer base so that more consumers are aware of the products and services that the company offers. By understanding the market trends, companies can also formulate new marketing strategies that will strengthen their position in the marketplace. Moreover, a solid marketing strategy also requires implementation and consistent monitoring to determine the effectiveness of the marketing activities in terms of reaching and exceeding the desired goals. Marketing management is therefore an intricate process that involves a number of activities aimed at creating new consumer interest and at ensuring the longevity of the marketing strategies that have been implemented.