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Understanding The Fundamentals Of Marketing

May 26, 2008
Marketers concern themselves with acquiring and retaining customers, who are the lifeblood of an organization. They attract customers by learning about potential needs, helping to develop products that customers want, creating awareness, and communicating benefits; they retain them by ensuring that they get good value, appropriate service, and a stream of future products.

The marketing function not only communicates to the customer, but also communicates the needs of the customer to the company. In addition, it arranges and monitors the distribution of products and/or services from company to customer.

Condos in Miami, traditional music stores, gas-guzzling cars, pharmaceuticals that get unfavorable press, foods made with trans fats: All marketers, from time to time, confront products that, for whatever reason, become difficult to sell. What strategies should companies follow to reposition their products in ways that might attract new audiences, or at least retain existing ones? "There are so many different kinds of customers out there. You just need to find them," says one Wharton expert.

Too often, people jump right to the outbound marketing. As a result, they often end up trying to push products onto people who really don't want the products at all. Effective inbound marketing often results in much more effective -- and less difficult --outbound marketing and sales.

Advertise your business in search results on Yahoo! You can put your business in front of potential customers at the precise moment they're searching for what you sell.

Creating a successful marketing mix that will increase results often takes experimenting and market research. There are many methods that can be used, both in person and the use of impersonal presentations. The key is to not always depend on "one" mix always explore other avenues. One of the main keys to the success of any marketing program is the ability to work effectively in shaping marketing mixes that meet the nature and needs of your specified target market. Learn how to develop your marketing mix.

The video-sharing site YouTube is currently running a comedy sketch contest sponsored by Toyota's 2009 Corolla. It's just one of the latest examples of companies using this advertising hot spot to target customers who spend a lot of their time watching online videos. But finding a home in the medium is not so easy, Wharton professors say. In a digital world of instant feedback and ruthless honesty, a company can either score major brand points or look as ridiculous as any adult trying to hang with the cool kids.

Among the first to write about algorithms designed to identify people with high Social Networking Potential is Bob Gerstley in Advertising Research is Changing. Gerstley uses SNP algorithms in quantitative marketing research to help marketers maximize the effectiveness of viral marketing campaigns.

It is also named "viral" because it allows a message to spread like a virus. In 2004 the concept of Alpha User was released to indicate that it had become now possible to technically isolate the focal point members of any viral campaign, the "hubs" who are most influential. Alpha Users can today be isolated and identified, and even targeted for viral advertising purposes most accurately in mobile phone networks, as mobile phones are so personal.

Marketing managers develop the firms marketing strategy in detail. With the help of subordinates, including product development managers and market research managers, they estimate the demand for products and services offered by the firm and its competitors. In addition, they identify potential markets for example, business firms, wholesalers, retailers, government, or the general public.

Marketing managers develop pricing strategy to help firms maximize profits and market share while ensuring that the firms customers are satisfied. In collaboration with sales, product development, and other managers, they monitor trends that indicate the need for new products and services, and they oversee product development. Marketing managers work with advertising and promotion managers to promote the firms products and services and to attract potential users.

But below are the six basic elements you hope to include in your strategy. A viral marketing strategy need not contain ALL these elements, but the more elements it embraces, the more powerful the results are likely to be.

Marketing is the most important, yet least understood, small business skill. It's not easy to find marketing consultants who truly understand what a small business owner needs to do to attract more clients and customers.

"Free" is the most powerful word in a marketer's vocabulary. Most viral marketing programs give away valuable products or services to attract attention. Free e-mail services, free information, free "cool" buttons, free software programs that perform powerful functions but not as much as you get in the "pro" version. "Cheap" or "inexpensive" may generate a wave of interest, but "free" will usually do it much faster. Viral marketers practice delayed gratification.

They may not profit today, or tomorrow, but if they can generate a groundswell of interest from something free, they know they will profit "soon and for the rest of their lives" (with apologies to "Casablanca"). Eyeballs then see other desirable things that you are selling, and, presto! Eyeballs bring valuable e-mail addresses, advertising revenue, and e-commerce sales opportunities. Give away something, sell something.

Public health nurses offer sage advice at flu season: stay away from people who cough, wash your hands often, and don't touch your eyes, nose, or mouth. Viruses only spread when they're easy to transmit. The medium that carries your marketing message must be easy to transfer and replicate: e-mail, website, graphic, software download.

Viral marketing works famously on the Internet because instant communication has become so easy and inexpensive. Digital format make copying simple. From a marketing standpoint, you must simplify your marketing message so it can be transmitted easily and without degradation.

Sales managers direct the firms sales program. They assign sales territories, set goals, and establish training programs for the sales representatives. See the Handbook statement on sales representatives, wholesale and manufacturing). Sales managers advise the sales representatives on ways to improve their sales performance.

In large, multi-product firms, they oversee regional and local sales managers and their staffs. Sales managers maintain contact with dealers and distributors. They analyze sales statistics gathered by their staffs to determine sales potential and inventory requirements and to monitor customers preferences. Such information is vital in the development of products and the maximization of profits.

When Guerrilla Marketing was first published in 1983, Jay Conrad Levinson was considered a pioneer with his innovative, take-no-prisoners approach to marketing for the small- and medium-size business owner. Nearly 25 years later and half a million copies later, "Guerrilla Marketing" is now considered the bible of marketing and entrepreneurial advice. Radio show host Russ Lombardo interviews, as his guest, The Father of Guerrilla Marketing, Jay Conrad Levinson, discussing solid marketing weapons and invaluable business advice on "Sales Talk".

A market-focused, or customer-focused, organization first determines what its potential customers desire, and then builds the product or service. Marketing theory and practice is justified in the belief that customers use a product or service because they have a need, or because it provides a perceived benefit.
About the Author
Todd Ash Is An Entrepreneur and A Master Of Network Marketing.To Find Out More About Succeeding Online Click Here To Visit Toddash.com For Free Information
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