Marketing is the approach and method put forth by a company to improve the relationship with customers and potential customers that will satisfy both the customer and the company. Increasing the number of customers for a product or service is successful marketing. More customers create more revenue for the organization.

 

Marketers identify new markets through research and then develop tactics to gain a foothold for their organization in those markets, thus increasing revenue for the organization. Marketing success is measured in the number of new customers as well as the repeat business of customers already in a relationship with the organization.

 

Marketers will endeavor to target customers who could potentially be interested in their product or proposed new business opportunity through market research and by finding out about the markets currently served by competitors in their field of business. Before a marketing campaign is commenced it is necessary to determine the return of profit from the proposed campaign.

 

Market research is a valuable tool for collecting and analyzing information to assist in making informed decisions regarding a marketing campaign. It helps an organization to understand the trends in the market and how they relate to a product or service offered by the organization or a business opportunity that is being considered. Surveys can be conducted by interviews or talking to customers/businesses.

 

Marketing is fundamental to the success of any organization. If an organization does not attract customers for its product or service, then it will cease to exist. What the public understand about a company's operation is mostly determined by their marketing strategy; a strong marketing effort will create a positive image for an organization and bring it to the attention of a wide range of potential customers.

 

Marketing also offers benefits to society at large by: creating competition in the market place which will lower prices; increasing employment (greater demand leads to higher employment); the development of new products to fill a gap in the market; and better distribution systems because of demand in a larger geographic market.

 

Marketing is not just advertising, marketers use many forms of promotion for a product or service or the promotion of an organization. Advertising brings the product, service or organisation to the notice of existing and possible customers. Advertising can be through the media (print, TV, etc.), signs, mail outs, email messages, etc. The aim of promotion is product familiarisation. Promotion can also be done through advertising as well as sales and public relations. Public Relations are activity conducted to give the company a good public image. An organization can also gain publicity by organizing feel good stories in local newspapers and radio stations. A Sales Team works with a Marketing Team to cultivate prospective buyers (leads) and convey to these leads the advantages and benefits of a product in the hope of closing a sale on the product.

 

Word of mouth is one of the most effective marketing methods, and in the Information age, that applies more than ever. It is a time proven way of making your company seem bigger, better, and more useful than your competition. Many people make choices based on what those around them are doing. In the information age word of mouth marketing can include blogs on the internet as well as personal communication between individuals. The personal nature of such a recommendation carries added credibility because the listener would deem the recommendation not to have an ulterior motive.

 

Ultimately, most people will buy a product or service they consider to have the most positive benefits for them. A good marketing campaign addresses all of these issues, placing considerable effort to gauging market trends in order that the product or service will appeal to the largest possible demographic group (sector of population broken down by age, sex or income).

 

Internet marketing has opened a whole new marketplace for reaching potential customers. Internet marketing can reach prospective customers for a fraction of the cost of traditional media advertising such as TV and magazines/newspapers. Internet marketing uses information and blogs to attract customers and can be managed by an in house employee rather than employing an advertising company to run a campaign.

 

Marketing is an exciting and changing work environment.