Marketing is a set of measures aimed at selling products and services. We can say this is an activity to meet the needs of the target audience through the sale of products and services. Such measures include analysis of competitors, forecasting consumer demand and building communication with customers.
Types of marketing
Depending on the coverage or demand, the following types of marketing are distinguished:
- Incentive marketing creates demand and encourages customers to buy. It is used to identify the cause of indifference to the product and determine methods to improve this attitude.
- Developing marketing is aimed at revealing the hidden demand of customers. This happens if the consumer is not satisfied with the products on the market. Analysis of potential demand allows you to create truly effective products and services.
- Conversion marketing is introduced to reverse negative demand. To make a customer want to buy a product, marketers often remake the product and lower the price for it.
- Mass marketing has a high degree of market reach and is launched with the goal of identifying competitors. It is effective in promoting vital products – hygiene products, food, clothing.
- Target marketing focuses on a specific segment of consumers. This is actively used by small businesses to meet the needs of a narrow target audience of their product.
- Differentiated marketing sets the task of reaching a large part of the market by releasing its own product for each segment.
- Direct marketing involves direct interaction with the consumer through online and print advertising, email newsletters, SMS notifications. It is effective thanks to the call to action in every communication.
- Guerrilla marketing allows you to influence the audience in such a way that it does not notice direct advertising, but takes the necessary action.
- Synchromarketing is necessary to smooth out fluctuations in demand for seasonal services and products. Its tools are discounts, promotions and flexible prices.
- Remarketing gives a second life to services and products for which demand has fallen critically.
- Demarketing reduces demand for a company’s product by increasing prices or reducing promotion efforts. It is used when demand exceeds supply, but there is no possibility of expanding production.
- Counter marketing is designed to reduce the demand for products that are harmful to humans or the environment – alcohol, tobacco products or plastic products.
Marketing business models
According to the type of consumers, marketing can be divided into three models:
1. B2C, or business–to–customer — a set of strategies to promote products and services to individuals. In B2C marketing, it is very important not only to show the benefits of the product, but also to hook the emotions of the audience.
2. B2B, or business–to–business — the process of interaction between two companies, one of which manufactures products for wholesale – steel, plastic, fabric, glass, or provides project management and search engine optimization services. Important characteristics of B2B are arguments, numbers, and graphs.
3. B2G, or business–to–government — a business model where a company provides its products and services to the government. B2G marketing is complex in terms of documentation. But when used correctly, it allows you to make big deals in the long run.
The main goal of marketing is customer satisfaction. Proceeding from it, the main tasks arise – the study and analysis of the market (commodity affiliate programs can help you with this). This is necessary to understand which audience segment your product can cover. If you choose the most profitable segment correctly, you will be able to create a product that will satisfy customers. And you will increase both your profits and brand awareness.
4 main marketing functions
There are 4 key marketing functions:
- Analysis – a complete analysis of external and internal factors affecting consumer demand, the market and the company. The analysis also includes activities occurring within the company.
- Management – customer and partner support, with the help of which all marketing activities in the company are planned.
- Production – implementations in the production process.
- Sales – a set of measures aimed at the formation of demand, pricing and commodity policy.
To turn a consumer into a customer, it is necessary to use special marketing tools. Depending on the promotion channels, they can be divided into offline and online ones. Offline tools allow you to notify potential customers without the help of the Internet. These include advertisements on radio and TV, in magazines and public transport, in offices and homes. Before the advent of the Internet, this type of promotion used to bring good results, but it is now replaced by online advertising.
The main online marketing tools include content and email marketing, SEO, analytics, SMM, and more (get help from affiliate programs for affiliates). Their tasks are to attract more customers, increase awareness and build trust. After all, later with their help, potential customers become real and even regular customers. Now you know what marketing is as well as what its goals, objectives and functions are. But it will take a lot of practice to solidify this information and make great strides with your product.