6 steps to create a successful marketing process
Fortunately, Marketing is very crucial not only for businesses but also for individuals. Therefore, to carry out the marketing work in an effectived way, it is necessary to develop a strategy and apply a better marketing process. The following article from Cleverads learns the concept and steps to establish an effective Marketing process.
1. Definition of Marketing Process
The Marketing Process is a collection of all the steps from research, strategy formulation, project execution, progress monitoring and performance evaluation. This process is carry-out to bring benefits to the business. Therefore, the Marketing process requires to be prepared, planned and executed in detail.
The Marketing process needs to be carried out in a logical, clear and detailed way so that when embarking on implementation, errors will be avoided as much as possible. Therefore, the Marketing process becomes important for businesses and those who do Marketing.
2. The principal role of the Marketing process
For businesses, building a standard marketing process will help a lot. The Marketing process will help business clearly define their overall goals and appropriate development directions. Goals can be company goals, customer goals, and competitor goals. From here, businesses need to analyze and promote their strengths to find the most suitable development direction.
Besides, a specific Marketing process will be the basic foundation for building Marketing strategies. This process will show strengths, weaknesses, budget to be tried, personnel to be provided, method of implementation, etc.
Moreover, businesses with specific marketing processes will easily position their brands, products and services in the market. From the work done, you will also have an overview of the results and make the necessary comparisons and changes for the next options.
See more at: Marketing Mix strategy and how to apply it in business
3. Effective Marketing Process
3.1 Market research
Market research is the first but very important step in the marketing process. The first step needs to be done meticulously, in detail and with intelligible investigation and investigation. Market research will provide information about the current market, potential customers and competitors. Many market research methods can be used to get the most out of them.
Surveys and investigations
It is probably the simplest method, but the accuracy and efficiency are very high. You need toutilize the most appropriate and optimal questionnaires and surveys to select the better information.”
Group interview or in-depth interview
This method needs to bring together about 6-10 people to discuss a product or service problem. From here, you can determine what they think about your products and services. This method is usually low-cost, quick to get results, and quite easy to implement. ”
Behaviour tracking through social networks
To be able to track behaviour on social networks, you can use social listening tools. The way to do this is to come up with keywords related to your business and get back the opinions and topics that social network users are discussing. This method will work well, but you need to spend a relative fee to rent or buy the tool. ”
Survey by phone
This survey method does not cost too much. However, the results yield only about 50-60% accuracy. Because you will have a hard time convincing customers to participate in the survey. ”
3.2 Define segmentation, goals, and positioning
Market Segment
Market segmentation is the division of a market into segments with distinct and identical characteristics. Based on the characteristics and needs, you need to group customers to easily research and meet the right needs of customers.
Identifying the right market segment helps businesses save effort, budget and time. Because customers never agree on needs, so meeting the needs of target customers will make it easier for businesses to succeed.
Determine the target
Once the market segment has been clearly defined, you need to clearly understand what the business’s goals are. There are many market segments and you cannot use the same Marketing process for all of them. Therefore, zoning is the right goal for the business to implement most accurately.
Locate
It helps customers accurately identify your products and services. You need to create your value and convey that message to customers in an impressive and easy-to-remember way. This step will help businesses differentiate themselves from many competitors and increase customer recognition. ”
3.3 Marketing Mix
The Marketing process needs to develop a Marketing Mix strategy. This strategy needs to be implemented in a detailed and unified manner, aiming at the ultimate goal of meeting the need of the market.
Product
To implement the Marketing process, it is necessary to determined the most important factor which is the product or group of services to be provided to the customer. Products need to be determined based on factors such as market demand, product use purposes, geographical factors, features, and differences compared to competitors. These factors need to be researched and consulted by customers to come up with the most optimal product.
If to the past, customers did not have too many choices and had to accept the products being provided by the business, today the power lies greatly in the hands of customers. As a result, the modern marketing process also changes and translates to selling what the customer needs.
Price
The second element in the Marketing Mix is price. This factor will determine the revenue and survival of the business. Adjusting and changing the selling price of a product or service will greatly affect the entire marketing strategy.
To price your products correctly, it needs to be based on many factors: production costs, brand positioning, product characteristics, and competitors. Currently, there are 4 most popular product pricing strategies used by many businesses such as:
Market penetration pricing
Price skimming
Package pricing
Psychological pricing
Place – Distribution
A distribution channel is a way a business gets its products into the hands of consumers. To meet the best and most convenient purchasing process, businesses need to come up with the most optimal plan for distribution channels.
Detailed market analysis and customer insights are the keys to your success in this marketing process.
A good product and service, if it is not known and is not convenient for customers to decide to own, will go to waste and not receive support.
Promotion – Promote
Promotion includes customer awareness of the brand and driving customer buying behaviour. Therefore, a few strategies can be used in the Marketing process such as:
Personal selling: Although it is the most expensive form of selling, it is the most effective, especially for products of great value.
Advertising: includes all forms of promotion and communication about products, services and brands.
Sales promotions: Promotions that help customers make decisions faster.
Public Relations: This is a less commercialized form. However, this form when used is the channel most trusted by customers.”
People – People
The human element in the Marketing process not only refers to the target customers of the business but also includes the human resources involved in this process.
Target customers are those who bring profits to the business. Understanding customer insights and desires for products, and making appropriate adjustments will help businesses create the best experience value and increase the success rate.
The second human factor that is equally important is the human resources of the enterprise. The successful implementation of the Marketing process depends on the consistency and quality of the company’s human resources.
Physical Evidence
Material factors refer to all factors that positively or negatively affect the business process of the enterprise. Physical factors can be the environment where customers come into contact with products and services, customers’ actual experiences when using services, etc. All factors will directly affect purchasing decisions of customers.
Process
A process is a system of steps to be taken to deliver a product or service to a target market. Building a clear process will help the business operate smoothly and reduce a lot of costs.
3.4. Implement the given Marketing process
After the Marketing process has been specifically built, businesses need to start implementing it. The steps need to be clearly and specifically divided into design, product improvement, pricing, distribution and promotion implementation, for each department in charge. Then the process will be best controlled.
There are many marketing plans proposed but not implemented because the process is unclear and lacks alignment. Failure can come from many sides such as fragmented coordination, lack of human resources, etc. Therefore, the Marketing process is the way for businesses to control risks, and execute them most effectively.
3.5. Monitor
In the process of execution, there will be many risks, even the most careful marketing process.
Close monitoring will help businesses minimize the high possibility and respond promptly in unexpected situations.
3.6. Measure the effectiveness
After the plans are developed and executed, the final step in the marketing process is to measure the effectiveness. Enterprises need to think of steps, to collect information from the market and customers on product and service evaluation, thereby making the most appropriate changes.
After the plans are developed and executed, the final step in the marketing process is to measure the effectiveness. Enterprises need to think of steps, to collect information from the market and customers on product and service evaluation, thereby making the most appropriate changes.
4. Conclusion
The above article from CleverAds has helped readers understand the concept of the Marketing process and how to implement a successful process. Hopefully, through the article, you will gain more knowledge and apply it directly to businesses and workplaces.
