Marketing and its Strategies:

It is the process of creating consumer value in the form of goods, services or ideas that can improve the consumer’s life. Marketing is an organized function charge with defining customers target and the best way to satisfy the needs and wants competitively and profitably. Since consumers and business buyers face an abundance of supplier seeking to satisfy their everyday needs. Companies and nonprofit organizations cannot survive today by simply doing a good job. They must do an excellent job if they are to remain in the increasingly competitive global market place. This is what we say that survival is the fittest. Many studies have demonstrated that the key to profitable performance is to know how to satisfy the target customers with competitively superior offer. This process takes place today in an increasingly global, technical and competitive environment.

What is marketing?

Marketing is not only restricted to selling, an adverting is perceived but it is more than an advertising it identifies and satisfied customer needs. Its function revolved around wide variety and range of tasks and activities. Mostly termed as functions related to 4ps.For example

1. Product
2. Price
3. Place
4. Promotion

Marketing is;

Creating customer value and satisfaction are at the very hard of modern marketing, thinking and practice.

 A very simple definition of marketing is that it is the delivery of customer satisfaction at a profit.

 Sound marketing is critical to the success of every organization.

Marketing can also be defined as process of planning and executing the concept, pricing, promotion and distribution of ideas, goods and services to create and exchange that satisfied individual and organized objectives.

Simple marketing system:

The concept of marketing system beings one full circles to the concept of marketing. Simple marketing system comprises of different actors or factors, like producer or seller, product or services, something valuable to exchange in return of product or services, consumer or customer. Communication process to have two way communications like to provide information about product or service, to customer or consumer and to have feedback in same regard from the customer.

 Figure presents an example of very simple marketing system. Marketing system has following basic activities:

1. Seller must search for buyer, identify their needs, design good products and services, set prices for them, promote them and store them and deliver them.
2. A modern marketing system includes all of the elements necessary to bring buyers and sellers together. This might include such activities as product development, research development, communication, distribution, pricing and services.
3. Each of the major actors in a marketing system adds value for the next level of the system. There are often critical inter dependency among network members.
4. To learn more about marketing first we should learn about some basics that are sometimes termed as 4ps(Product, price, place, promotion) and sometimes termed as 6 or 7 PS (product, price, place, promotion, position, personal relation, people and profit)

Let have some definition in this regard:

Product: What are you selling (it might be a product or service)

Price: What is your pricing strategy?

Place/all distributed: how are you distributing your product to getting into the market place.

Promotion: How are you telling consumers in your target group about your product?

Positioning: What place do you want your product to hold in the consumer’s mind?

Personal relation: How are you building relation with your target customers? Public who can impact on organization or can be affected by organization?

Profit: The basic objective of organization that to have something valuable in return of product or services mostly it is the form of money.

Marketing assume that it will proceeds in accordance with ethical activities. It identifies before market variables e.g. Product, price, promotion, distribution. It also states that the customer or the client determine the marketing program. Marketing mainly emphasize on creating and mentioning relationship and apply for both nonprofit organizations and profit oriented organizations business. The major activities

That are performed in marketing process include personal selling, advertising, making profit available, in the stores and maintaining inventories. Anything like goods, services, experience, events, persons, places, organizations, information’s and ideas can be marketed to the customers in return of something of value.

How does an organization create a customer?

Organization(producer, seller) can create the customers by identifying customer needs, designing goods and services that meet those goods and services to prospective buyers making the goods or services to reflect costs, competition and customers’ ability to buy and finally providing for the necessary service and follow up to ensure customer satisfaction after the purchase.

How is marketing done?

If we want to know what a business says we have to start it with its purpose and its purpose must lie outside the business itself? In fact it must lay in society since a business inter price is an organ of society. There is one valid definition of business purpose i.e. to create a customer.

Reasons for studying marketing:

Marketing is part of all of our lives and toughs as in some way every day. To be successful each company that deals with customers on a daily basis must not only be customer driven but customer obsessed. The best way to achieve this objective is to develop a sound marketing function within the organization.

Author Profile: Jaber Swati

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