Marketing is described as the use of communication with customers in order to obtain sales. Marketing also refers to advertising and promotional activities to achieve specific marketing objectives. Marketing includes all the different techniques used by organizations to promote themselves and their products and services to consumers. The objective of marketing is to create awareness, support, and interest in the products and services offered by organizations. Marketing is an integral part of any business activity. Marketing involves the use of communication media such as print, electronic, and television to inform people about products and the services that they provide.
There are various marketing concepts used in today’s market such as: customer orientation, comprehensive marketing, and integrated marketing. Customer orientation is a marketing concept which basically focuses on satisfying customers. In this concept customers are provided with an extensive choice of products and services from a wide range of providers, and organizations are told what features and functions they should look for when purchasing such items. This enables marketers to provide customers with genuine information, allowing them to make informed decisions. This concept is based on providing a complete solution for consumers, rather than trying to sell them short by focusing only on a small portion of their needs.
Another concept which is a defining factor in marketing management is comprehensive marketing. Comprehensive marketing involves all the different aspects of selling and is aimed at making the most of all available marketing tools. This is achieved by using as many sources of advertising and promotion as possible, together with special marketing programs such as price comparison and TV commercials. Price comparison marketing provides an example of comprehensive marketing management where different pricing plans for the same item are advertised on TV. This technique helps the consumer compare prices across a number of suppliers, which leads them to make a decision to purchase a product from one provider while purchasing other products from other suppliers. Similarly, TV commercials are another example of comprehensive marketing management.
Comprehensive marketing also involves the overall strategy adopted by a firm in its marketing activities. This concept is a key factor which determines the success of any marketing program. A well-thought out concept makes it easier for consumers to understand the nature of the product being sold and helps them make a better decision. It is therefore, imperative to form a complete plan for selling a product to attract consumers.
A final marketing concept used by marketers is product concept marketing. This concept refers to marketing a product using consumer research. Marketing managers often measure consumer opinions to evaluate market needs and demands. In general, marketers use this concept in order to provide an assessment of consumer attitude toward a new product, thus allowing marketers to design a marketing campaign in line with consumer opinion.
Marketing research is the foundation on which comprehensive marketing lies. Without market research, there can be no determination of the selling concept, consequently, no determination of the price for the product, and consequently, no determination of how much to charge for it. Market research helps marketers to understand their target customers. Proper marketing research can also help improve the profitability of a business.