Marketing is a process by which organizations make their products or services available to potential customers. Market promotion also refers to the promotional activity that organizations undertake in order to actively build brand equity, create value for their clients, capture value for themselves and generate revenues. The concept of marketing is a relatively recent concept, arising out of and parallel with the advent of large scale marketing in the late nineteenth century. Marketing as we know it today began to become widespread as a method of promoting products and services after the First World War, when advertising agencies started specializing in new forms of mass media advertising such as motion pictures, radio, and television.
A variety of marketing processes are at work across many industries and across different markets, but the purpose behind each marketing effort is generally the same: to acquire new customers, increase sales, and achieve business objectives. A wide range of marketing techniques are at work in today’s global marketplace, and some of the most common methods include direct marketing, web marketing, and search engine marketing. Below are the four Ps of marketing as you develop a marketing strategy for your organization:
Marketing as you understand it today is a rapidly evolving field, driven by ever-changing social norms. If you want to succeed in today’s highly competitive market, it is imperative that you have effective marketing management principles in place. The primary focus of effective marketing management should be to develop and implement a consistent message and strategy, which will be communicated to your target audiences. Successful marketing management involves establishing a balance between selling and advertising. One of the most important aspects of marketing management is understanding the relationship between the various marketing concepts – including advertising, selling and social marketing – in creating a sustainable organizational culture. These basic marketing concepts are: sales orientation, selling to the end user, advertising as a tool for PR and marketing, and societal marketing.