A Quick Overlook of Marketing – Your Cheatsheet
Marketing is the process of planning, advertising, promotions so that goods and services low to the buyer from the manufacturer of producer.
It involves the general knowledge on products and services, the strength and weakness of the producer, how the public feels about that certain good, threats of that company from competition and producers external opportunities and threats.
People responsible of marketing will ensure that thy have the full knowledge of the market structure, all competitors they are competing with, their strengths and weakness or any other business opportunity in the market so as they can out win their competitors and appear more revealing to the consumers.The whole marketing process involves sales, advertisements of goods availability and their advantage over the others and well laid strategies that equip company with the ability to shine than the others in the market.
There are many types of marketing: relationship marketing, and scarcity marketing where producers might control the amount of products in the markets, word of mouth marketing or oral where information is passed by people, transactional marketing where producers might decide customers to buy and get free goods, coupons after sales services and mass marketing where producers aims at driving large sales.
Marketing improves recognition of a new or old product in the market, its awareness and how better it is than the others.
Marketing adds knowledge on the buyer over certain product and these improves shopping ability in shopping as the most known good will be given the first priority.
Through marketing, company improves its trust to the people and this increases their trust to the consumers and their goods will be preferred first as their record is clean for offering the best.
Any company’s ability to do the best can only be known through marketing as it opens up to the public and this gives it more credit as customers are aware where to get the best.
Another advantage is that marketing improves companies profit making; as more consumers are willing to buy from that well known service-provider, profit increases and this is every companies goal-to maximize its profit.
Marketing puts the business in a place that its able to understand every need and want in the market and act upon by providing good and service.
Information provided through marketing gives business power to stay providing goods and services.
Marketing is not only beneficial to the customer but also to the producer as he or she gets time and platform to showcase their prowess to their customer. This gives them power to proof to their customers how best they are and through this trust is created and a stronger bond between the consumer and producer.
Marketing gives power to consumers to talk whatever they like about certain products being marketed and if the producer utilizes this important information it becomes advantage to him.