​အောက်ဆုံးထိ ဆွဲကြည့်​​ပေးကြပါ ခင်ဗျာ

What Is Marketing?

A company’s activities to promote the purchase or sale of a product or service are referred to as marketing. Advertising, selling, and delivering goods to customers or other businesses are all examples of marketing. Affiliates do some marketing on a company’s behalf.

Through advertising, professionals in a company’s marketing and promotion departments try to attract important potential customers. Advancements are focused on to specific crowds and may include superstar supports, infectious expressions or mottos, important bundling or realistic plans, and in general media openness.

KEY TAKEAWAYS
Marketing refers to all activities a company does to promote and sell products or services to consumers.
Marketing makes use of the "marketing mix," also known as the four Ps—product, price, place, and promotion.
Marketing used to be centered around traditional marketing techniques including television, radio, mail, and word-of-mouth strategies.
Though traditional marketing is still prevalent, digital marketing now allows companies to engage in newsletter, social media, affiliate, and content marketing strategies.
At its core, marketing seeks to take a product or service, identify its ideal customers, and draw the customers' attention to the product or service available.

Why Is Marketing So Important?

Marketing is important for a few reasons. First, marketing campaigns may be the first time a customer interacts or is exposed to a company’s product. A company has the opportunity to educate, promote, and encourage potential buyers. Marketing also helps shape the brand image a company wants to convey. For example, an outdoor camping gear company that wants to be known for its rugged, tough goods can embark on specific campaigns that embody these traits and make these emotions memorable to prospective customers.

What Is the Purpose of Marketing?

An important goal of marketing is propelling a company’s growth. This can be seen through attracting and retaining new customers. 

 Companies may apply a number of different marketing strategies to achieve these goals. For instance, matching products with customers’ needs could involve personalization, prediction, and essentially knowing the right problem to solve. 

 Another strategy is creating value through the customer experience. This is demonstrated through efforts to elevate customer satisfaction and remove any difficulties with the product or service.

What Is the Goal of Marketing?

As a discipline, marketing encompasses all of a company’s efforts to acquire new customers and cultivate existing ones. Writing thank-you emails, playing golf with potential customers, promptly returning calls and emails, and meeting with customers for coffee or a meal are all forms of networking that are included in the work.

The most fundamental goal of marketing is to match a company’s products and services with customers who want them. In the end, profitability is guaranteed by matching products to customers.

Formal Definition:

“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. “
—Official definition from the American Marketing Association, approved 2017.

What Are the 4 P’s of Marketing?

The Four Ps of marketing are the product, the price, the place, and the promotion. The essential combination that a business needs to market a product or service is comprised of the Four Ps. In the 1950s, Neil Borden made the Four Ps and the marketing mix popular concepts.

Product

The term “product” refers to an item or items that the company intends to offer customers. The product should try to fill a gap in the market or meet consumer demand for more of a product that is already on the market. Marketers need to know what product is being sold, how it differs from competitors, whether it can be paired with a secondary product or product line, and whether there are substitute products on the market before they can plan an effective campaign.

Price

The price indicates how much the business intends to sell the product for. Companies must take into account unit costs, marketing costs, and distribution costs when determining a price. In addition, businesses need to take into account the prices of the products that are up against them in the market, as well as whether or not the proposed price point is high enough to be a viable alternative for customers.

Place

The product’s distribution is referred to as “place.” Whether the business will sell the product in a physical storefront, online, or through both distribution channels is an important consideration. What kind of physical product placement does it get when sold in a storefront? What kind of digital product placement does it receive when sold online?

Promotion

The integrated marketing communications campaign is promotion, the fourth P. Advertising, selling, sales promotions, public relations, direct marketing, sponsorship, and guerrilla marketing are all forms of promotion.

The stages of a product’s life cycle influence the promotions offered. Marketers take into account the fact that consumers associate a product’s quality with its price and distribution when developing the overall marketing strategy.

Important: Marketing refers to any activities undertaken by a company to promote the buying or selling of a service. If there is a limited quantity of a product, a company may market itself in an attempt to be better positioned as one of the few who get to buy something.