What To Do With Your Marketing Results | ENTRE Institute Reviews

 

Marketing refers to the act of directing a business's activities in order to create sales and income. Marketing is not the same as advertising, since the latter deals with the exchange of one form of energy for another. Marketing deals more with influencing consumers. The objective of marketing is to bring about a heightened awareness of a new product or service, to increase demand, or to increase profitability.

In marketing, there are three basic categories: known as the direct marketing strategies, those that are employed by businesses as indirect marketing strategies, and marketing techniques that are used by marketers as representatives of the business owners themselves. Direct marketing strategies include advertisements through print, radio, and television. Indirect marketing strategies include promotional offers, price wars, and other strategies such as sampling, focus groups, and market research.

A marketing team, consisting of a marketing director and a marketing planner, is needed to implement and manage a variety of marketing activities. The planning stage of the process focuses on obtaining market research, which is an important step in assessing the marketing needs and demands of the target audience. Market research helps determine which advertising techniques would yield the most favorable response among potential consumers. Marketing research is further subdivided into various types, including survey research, which is conducted on target markets through questionnaires; product analysis, which studies the actual use of the products being marketed; and product positioning, which is done to position the products on the market. All these processes help determine what kind of advertisement is most likely to be effective, as well as to attract the kind of target audience that is most likely to buy the product being promoted.

Marketing strategies are also divided into different stages, which correspond to the extent of influence over the target audience. This is important, as it enables marketers to alter their strategies when the audience's response to a specific advertisement changes. Marketing at each stage includes planning, market research, product development, and advertising. The planning stage involves determining what the final product or service will offer, what kinds of messages need to be conveyed, and how to get this product or service to the audience most interested in it.

Marketers conduct market research, in addition to product development, to determine which kinds of advertisements will appeal to a target audience. These results are then combined with strategies, such as creative design and message emphasis to achieve a desired effect. One example of a strategy is the creation of television commercials, which may be done for different kinds of products. Marketing strategies are also incorporated into product development.

Product development involves coming up with new ideas and concepts and turning them into real products. During this stage, marketers test the marketability of the new ideas and come up with the appropriate marketing strategy. Once the marketing strategy is decided upon, a prototype is made of the product or service to be manufactured and distributed. The prototype is evaluated by marketing managers to ensure that the plan can be put into action as planned.

Once marketing is completed, the product or service is ready for its first demonstration to potential customers. In order for a marketing strategy to be successful, it should be coupled with a good marketing plan. A marketing plan, in addition to being detailed, should include the time, date, and venue of the demonstration; the target audience and frequency of the marketing efforts; and a budget. By following these simple steps, marketers make it easier for their prospective targets to have an opportunity to view, touch, smell, taste, and try the product or service. Ultimately, they should be able to make the best possible purchasing decision based on the information received.

When a marketing effort fails to reach its intended target audience, business owners face a critical problem. Instead of turning a profit, they may have to begin the process all over again. Business owners may choose to have another marketing campaign that focuses on the same prospects. However, if no other campaign is successful, business owners should not give up hope because reaching the target audience is possible with careful planning, a good marketing plan, and effective execution.