Marketing is a broad term that describes a number of processes an organisation undertakes to promote its product or service so that it can be sold to customers and generate revenue. Market research is a key component of marketing. Marketing is the process by which organisations develop and distribute their own brand, develop and create relevant marketing messages and use media to promote the organisation. Brand building involves building a positive perception of the organisation in the target market. Branding helps in generating increased sales and drive business through recognition of a company’s unique qualities and offering competitive prices and quality services and products.
Marketing techniques are used to sell a product or service, attract new consumers, promote awareness and build loyalty among consumers. Marketing strategies are designed to influence consumer behavior and increase customer awareness. There are several marketing concepts such as internet marketing, Search Engine Marketing (SEM), Pay-Per-Click (PPC), Social Media Marketing (SMM), Direct response, Branding and Resale, with other methods such as events, consumer surveys and focus groups also coming into play. Online marketing techniques include search engine optimization (SEO), banner advertising, co-registration mailing lists, banner exchanges, paid inclusion, display advertising, media buying, online promotions, affiliate marketing, etc.
The essence of marketing lies in its ability to build customer loyalty and to shape consumer behaviour. A well thought out marketing strategy can help an organisation to achieve its sales and marketing management goals. As marketing concepts are a result of a business’s objective, these can vary from products to service and from individual company to company.