In today’s fast paced, interconnected world, the role of a business in marketing has increased significantly. Marketing is described as the process by which an organization undertakes to interact with its target market, develop solid relationships so as to gain profit in return for the cost of marketing goods or services to customers. Today, more of a marketing function is being outsourced to countries like India that possess highly skilled marketing professionals who are well versed in all aspects of advertising, selling and marketing. These professionals are the ideal solution for companies that are still finding it difficult to devise new and innovative marketing strategies to survive in the cutthroat competition of today’s marketplace.
A coordinated marketing campaign is a good way to enhance brand recognition and awareness among customers and drive customer loyalty. Properly implemented, marketing can work in tandem with strategic planning. The overall objective of marketing is to win over the customer by meeting their needs, expectations and increasing their buying power. It is imperative therefore, that a company pays utmost attention to their marketing strategy, as a poor implementation may lead to disastrous results. A marketing strategy is designed to strengthen a company’s position in the market by anticipating and addressing customer needs. A well-defined marketing program incorporates all aspects of marketing from corporate decision-making, product marketing, branding, distribution, marketing research and promotions.
Corporate marketing management focuses on three broad areas – social selling, corporate selling and media marketing. Social selling encompasses customer satisfaction surveys, promotional activities and events, and the creation of public images. Corporate selling focuses on advertising and selling products. It includes the selling of company products to customers in a retail or wholesale setting. Media marketing seeks to attract consumers via the mass media such as television, radio and newspaper. Finally, social marketing concepts encompass concepts such as eco-tourism, whereby customers interact directly with local producers; transactional marketing, whereby the selling of products through networks and exchange programs; and multi-tier marketing, whereby products are sold both on and offline.