Nature of sales and marketing

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Apr 14, 2021

Nature of sales and marketing

Marketing can be defined as the activity, set or institution and process for creating, communicating, delivering and exchanging offering,that have value for customers,clients,partners and society at large or is satisfying needs and wants through an exchange process.

A management process is responsible for identifying and satisfying customers needs profitable.

In a nutshell we say marketing is a process by which a product or services is introduced and promoted to a potential customer.The overall marketing umbrella covers,advertising,public relation,promotion and sales.

Marketing process

A series of steps that allow organization to identify customers problems,analyse marketing opportunities and create,marketing materials to reach the desired audience. 

The steps 

1.Analysis of opportunities in the market

    This involves analyse in the market to find opportunities that are available ,this opportunities are related to the needs and wants of the customers that are properly satisfied by competition in the market.

    This involves conducting effective marketing research that would provide variable information about customers competitors general trends and any other extra ordinary changes that have occurred in the market.

   The company identifies the potential opportunities from the collection information which will help it to segment the market.

2. Selecting the target market

     This is the most important step of the marketing process in which one needs to know the market and for this purpose,the company conducts a careful analysis of the target market in order to choose the right customers. 

3. Development of marketing mix

  This are the valuables that are mix by company inorder to generate certain desired response.

4. Management of marketing effort

    This is the actual action of marketing.

   At this stage a program in which marketable mix.

5. Marketing control.

    Evaluating the achievement of marketing objectives.

Marketing goals

The following goals are supposed to be achieved by marketing effort:increased sales,to build brand awareness, to launch new product or services,to target new customers,enter new markets,get existing customers to buy more,to improve customer loyalty so that they can only buy from you,for stakeholder relationship and to increase profit.

Marketing philosophy 

They guide business in their marketing effort and they include:

  1  Production concepts 

      Companies which believes in this concept stipulate that if the goods or services are cheap and they can be made available .They put alot of marketing effort in reducing the cost of production and strengthening their distribution system.To reduce cost of production, this companies endulge in large scale production.

2 Product concept

  Marketers who believe in this concept spent a lot of their marketing effort.This can lead to higher prices and it is appealing to customers who are interested in a strong brand image.

3 Selling concept 

    This marketers believe that goods are not bought but they have to be sold and therefore customers can be attracted.The proponents of this concept concentrate their marketing efforts towards educating and attracting the customers.

 

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