Marketing plays a very important role when we talk about business success. Accordingly, it is necessary to have answers to the following questions. And it should a continues process comes under marketing.
We always spend lots of time to ideate and plan how to acquire more customers or clients. Doing all these things we miss the basics marketing habits like,
What do our customers want?
Are we able to meet their need by our product or services?
How frequently they are using our product?
Do they trust our products or services? If Yes or No! Why and How?
What is the best part of our product or services they like the most?
What are the complaints and compliments we get from our customers?
To understand and analyze all these things marketing is the only channel for any business owner or marketers. Furthermore, we have to focus on data analysis including data process and reporting.
What is marketing?
Marketing is a process of business study to build and maintain a relationship. It starts with customer identification, continues with engagement, retention, conversion and customer satisfaction. And it is a never-ending process and it has no end.
Indirectly, if I say Marketing is an action for business promotion, up-selling of products or services including research and branding. Simply, because” To attract customers, you need to position your brand, to position your brand you need the right kind of marketing process”.
Marketers’ responsibility to showcase the company or brand in a positive light. Often they have to position a brand or company in such a way customers trust and take its products or services.
Importance of marketing
Marketing is directly propositioned to sales weather it is product or services or B2B or B2C or B2B2C. Every business is to make money. Business making more money creates lots of employment opportunities in the market. It is the most essential channel to reach the right audience and increase sales and matches the business goal.
- It helps increasing company or brand awareness.
- An effective way of engaging or retain customers
- Build and maintain the consumers’ trust and reputation of your brand or company
- Best way build and maintain customer lifetime value relationship with business
- Creates lots of income and revenue making options for business
- Creates employment opportunity in the market
- Helps customers and market information for learning about your products or services
- Market information helps you what needs to be optimized and how to test it.
- Beat your competitors in the market and strategically successful
- Helpful for calculating the price of your products and services
- It acts as a basis for making the decision for production, sales, purchase, and supply.
- Discover an easy way to measure what works (quality or quantity).
- It drives sales
- Including all above, it builds brand name
Whether direct or indirect marketing customer identification, engagement, retention, and conversion process are a must. To do all these we need the right brand or company strategy.
According to the types of industry and organization design, there are different types and concepts of marketing.