What is marketing?

Marketing as a discipline involves all the actions a company undertakes to draw in customers
and maintain relationships with them. Marketing involves researching, promoting, selling, and
distributing your products or services.

Marketing focuses on the study of the market and consumer behaviours and it analyzes the
commercial management of companies in order to attract, acquire, and retain customers by
satisfying their wants and needs and instilling brand loyalty.

Promotions are targeted to certain audiences and may involve celebrity endorsements, catchy
phrases or slogans, memorable packaging or graphic designs, etc..

4 Ps of marketing.
Product, price, place, and promotion are the Four Ps of marketing. The 4 Ps of Marketing is a
basic formula for identifying and working with the essential elements of your marketing
strategy. Let's discuss them separately.

Product

Having a product is key and is the root of all things marketing. A product could be anything that
a company offers consumers to satisfy a need. Before they can produce a proper campaign,
marketers need to understand what product is being sold, how it stands out from its competitors,
whether the product can also be paired with a secondary product or product line, and whether
there are substitute products in the market.

Price

Price judgments will determine supply, demand, and marketing strategy. Products and brands
may have to be positioned differently in the market based on their price point. When
establishing a price, companies must consider the unit cost price, marketing costs, and
distribution expenses.

Place

Marketing is all about putting products or services in the right place at the right time, making it
critical to research and evaluate which locations are ideal for turning leads into prospects into
customers. The goal of the distribution strategy is to enable potential clients to have easy
access to your products/services as well as offer a good experience throughout the purchasing
process.
Promotion

Promotion is How will you let the world know that your product or service exists? This refers to
all the marketing and communication that is done in order to show the benefits of your product
or service within the market. This is how you increase sales.

Different types of Marketing Strategies

Marketing is not just one single strategy, but rather a combination of many different techniques.
It depends entirely on where your customers spend their time. Here are several types of
marketing that are relevant today,

Word of mouth marketing

If your customers are talking about a brand without any hesitation, that brand’s market
presence, reputation, and customer base skyrockets. These customers openly recommend a
brand to their friends, family, or even strangers online. This is incredibly helpful to any company
trying to reach more people organically.

Search engine optimization

Search engine optimization or SEO is the process of optimizing the content on a website so that
it appears in search engine results. It's used by marketers to attract people who perform
searches that imply they're interested in learning about a particular industry or product.

Social media marketing

Businesses can use Facebook, Instagram, Twitter, LinkedIn, and similar social networks to
create impressions on their audience over time.

Print marketing

As newspapers and magazines get better at understanding who subscribes to their print
material, businesses start to sponsor articles, and advertisements in the publications their
customers are reading.

Email Marketing

Email marketing is one of the most profitable and effective techniques in terms of return.
Naturally, here you are sending emails to your email list, but make sure to define your segments
well in order to be effective.
Direct Marketing

Direct marketing consists of any marketing that relies on direct communication or distribution to
individual consumers, rather than through a third party such as mass media.

Marketing channels
With different techniques, tactics, and strategies we discussed, marketers use a variety of
different channels to best reach their audiences.

From traditional channels like billboards and radio advertisements to digital channels like social
media and user reviews, the flexibility that marketers have now is more than ever before.

Benefits of marketing
Marketing can benefit your business in countless ways. Let's take a look at a few of the most
important ones.

1. Raising Brand Awareness

Promotion is important because it gets people familiar with your brand and the products or
services you provide. It also makes you memorable to customers who can begin to trust your
brand, become loyal clients, and tell their network about you.

2. Increase market share

The existing competition in the market will determine how much market share your brand is able
to acquire. So, for companies looking to establish themselves within their industries, a market
share objective could be an excellent choice. The aim shouldn't always be the best, but to find a
good position in the market and to be considered as a reference for a segment of the market.

3. Increase Revenue

Increasing revenue is a very common marketing objective. For marketers to show that their
efforts have paid off, they need to see a good return on investment or ROI. To do this, they’ll
need to ensure that revenue from sales significantly exceeds any of their marketing costs.

4. Building Trust in Your Brand

Creating a high level of trust in your brand leads to customer loyalty and repeat purchases. This
not only increases revenue but also leads to great reviews both online and by word of mouth,
which is still one of the most effective types of promotion.
5. Build industry authority

We’d all like to be dealt with by an expert in our respective niches. Marketing objectives that
revolve around building industry authority can do just that. These goals focus on establishing
your brand as an authority through valuable content, keynote speaker spots, and more.