What is Marketing? Everything marketer need to Know about Marketing

What is Marketing? Currently, Marketing is becoming a hot profession in the current and future job market. Let’s find out with CleverAds!

1. What is Marketing?

According to the American Marketing Association (AMA), 2005, Marketing is defined as follows: “Marketing is the management function of an enterprise, the process of creating, communicating and delivering value to customers. It is the process of managing customer relationships in a way that benefits the business and its shareholders.”

Phillip Kotler: “Marketing is the process by which individuals and organizations achieve needs and wants through the creation and exchange of products and values.” This concept shows that Marketing is a need and value exchange process between parties.

Summarizing from the above points of view, the definition of Marketing is: Marketing is a series of activities that understand and satisfy the needs of target customers in order to increase profits for the business.

2. What is a marketing mix?

Neil Borden: “The marketing mix is the set of marketing tools used by a business to achieve its marketing focus in the target market”.

The establishment of a marketing mix program is a very important step and a way for businesses to reach their target market. The marketing mix strategy must be consistent with the overall goals of the business and the characteristics of the market.

2.1. Product

Products are all elements that can satisfy the needs or desires of consumers, offered for sale in the market for the purpose of attracting attention, purchase, use, and consumption.

A product can be a tangible good such as a vehicle, clothing, or mobile phone or an intangible service such as social insurance or health insurance. Tangible products are things that have an independent existence.

Each product is typically composed of three levels:

Every product has a life cycle, the product life cycle includes stages: introduction, growth, maturity and decline. Marketers require a study of the life cycle of the product they aim for. Enterprises need to consider product positioning strategies, brand development, and product mix shaping so that the products can complement each other.

2.2. Price

With exchange, the price is the exchange relationship in the market.

For buyers: “The price of a product or service is the amount a buyer must pay a seller for the right to own or use that product or service.”

Price adjustment always has a profound impact on the marketing strategies of businesses. Adjust the price depending on the price elasticity of the product. Each pricing decision depends on many factors both internal and external to the business such as marketing objectives, product positioning, costs, market characteristics, demand sources, products and services competitive environment and economic environment.

2.3. What is a Distribution Channel in Marketing?

Distribution is the delivery of products at a place and time convenient to the customer. Currently, the extensive and timely distribution of products to customers is an extremely important thing in the business process of every business. This is one of the factors that increase the competitiveness of enterprises with competitors.

There are three main distribution methods: broad-intensity distribution, privileged distribution, and selective distribution. Each method will be selected by the business according to its own goals.

2.4. Promotion Mix (Marketing Communications)

Marketing communication is the activity of communicating indirectly or directly about products and businesses themselves to customers in order to convince them to believe in the business, and products and buy from the business. All marketing activities of an enterprise cannot be complete without the promotion mix, also known as Marketing communication.

Modern Marketing activities are very interested in Marketing communication strategies. This is one of the four main groups of Marketing-Mix tools that businesses can use to influence the target market to achieve their business goals.

3. What is the Importance of Marketing?

3.1. For Businesses

Marketing is a functional activity of the enterprise that plays a decisive and coordinated role in connecting the entire business activities with the market. Marketing ensures the company’s business activities, the business is market-oriented, taking the market, needs and wants of customers as the starting point for all business decisions.

All activities in a commercial enterprise are governed by marketing activities. Marketing is the bridge between the activities of commercial enterprises and the market. Marketing helps businesses orient the development of products and services, bringing a large source of revenue for businesses.

Marketing makes businesses more sensitive to market changes.

From there, businesses have enough basis to adjust the products and services provided to suit the needs and desires of customers and the market.

Marketing increases the competitive advantages for retail businesses compared to competitors in the market. In the fiercely competitive market situation, satisfying customer needs is not enough, businesses need to satisfy customer needs more than competitors.

Marketing strategies and execution plans need to be suitable for the target audience and must be more optimal than the competitors’ strategies. Therefore, businesses need to regularly update prices, products, distribution systems, sales, and service activities to have a fair and reasonable competitive strategy.

3.2. For consumers

When consumers have a need to consume products and services available on the market, they often make choices based on the level of demand satisfaction from that product or service. In the buying decision process, consumers go through the process of searching and selecting information about products and services related to their needs.

Such information includes:

Price, use, origin, origin, supplier, accompanying promotions, warranty. And the source of information consumers needs will come from businesses and marketing activities for their products and services. Therefore, consumers are provided with data about products and services and have a variety of choices for their needs and want.

Businesses on the market today are always trying to create products and services that match the needs of customers. This invisibility has created competition in products and the diversity of products and services in the market. Prices of products are increasingly adjusted in line with consumer needs.

4. What are the duties of a marketer?

4.1. Brand core

The marketer is responsible for positioning strategy, brand core, building a long-term brand vision, and annual marketing plan.

4.2. Communication & Activation

Not only planning, Marketing is also responsible for implementing communication activities and activating the brand in the market to help the brand grow every year.

4.3. Brand Innovation

Growth goals must also be ensured through product innovation and new product development.

5. Conclusion

Above, CleverAds has compiled and sent you information and knowledge about what Marketing is, the importance of Marketing and what are the duties of a marketer. Hopefully, through this article, you will have an overview of the Marketing industry and have more interest in the industry. Good luck!

CleverAds, an Affiliate AgencyClever Group, with nearly 15 years of experience, confidently affirms that it is always the ideal destination for businesses to send their products, services and brand image associated with the goal of spreading awareness throughout the customers. customer image.

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