What is Marketing? Meanings of Marketing

Rusq.org Explains What Marketing Means

  • Today, I invite you to read with Website Rusq to learn about the meaning of Marketing ? Marketing Meanings. Why do businesses today often use the term Marketing in business reports?
  • Today, businesses often use Marketing as a tool to explore the market; Create products and services that satisfy the needs of potential customers. With the development of today’s society, businesses have to compete very fiercely. Therefore, marketing is becoming an effective tool to strengthen and maintain its position in the market. However, not everyone understands the essence of “Marketing” to bring the best business performance.
What is Marketing? Meanings of Marketing
What is Marketing? Meanings of Marketing

What is the definition of Marketing?

  • This is a term of American origin that includes two elements “Market” (market) and “ing” (expressing the ongoing process of the activity).
  • Specifically, marketing is the process of helping customers access products and services of a business. This happens when businesses conduct market research, analysis, and get a closer look at customer needs. Marketing is widely involved in all aspects of a business from production and product development to the way it distributes and promotes products to its customers.

What is a marketer?

  • Marketers are professionals working in the field of Marketing. Work mainly includes data collection, research, market analysis to draw up plans and strategies to market products and services for businesses.

What is the specific job of a marketer in the business?

*Set specific goals and make a plan to achieve them

  • To ensure the reality of each goal, marketers must spend a lot of time researching and evaluating the level of development of the business. In addition to the goals of the amount of work to be completed for the day, they must also orientate the marketing milestones in the business strategies. Either way, marketers must keep their strategies viable for success.

*Competitor tracking and research

  • Competitor research will help marketers recognize and fix competitors’ product flaws and improve their business’ products better. Usually, research can be done through competitors’ websites, learning about their products as well as trying to reach customers, advertising information, etc. From there, create the most suitable strategy for your business activities.

*Research the needs of potential consumers

Consumers, also known as customers, are the most important objects in marketing campaigns. Therefore, marketers need to always monitor and learn to determine what is the target audience group for the product line of their business. The most popular tool is “customer portrait”, marketers must collect data from 3 main issues:

  1. Collect necessary data about customers.
  2. + Analyze customer related data.
  3. + Update customer records into the management system.

* Writing content:

  • Professional marketers are those who have the ability to write useful and attractive content articles to let products reach customers widely. But in order not to be boring, marketers need to create many different content marketing templates to impress customers in different shopping segments. Marketers need to know how to write blogs, infographics, memes, webinars, slide decks, and more. Therefore, businesses need to clearly distinguish the types and levels to achieve high efficiency in content marketing.

*Maintain relationship with customers

  • Building relationships with customers has been difficult; But maintaining relationships with customers is even more difficult. This relationship is a key factor to help businesses get a stable revenue stream. Therefore, marketers must know how to draw up plans to help businesses build customer networks by sending automated emails; including articles about customer concerns.

*Listen to the feedback

  • Listening to negative to positive feedback about your products will help businesses promptly make appropriate adjustments. At the same time, listening to feedback also shows respect for customers.

* Introduce new creative content

  • New creative and unique content and ideas will help businesses have their own characteristics in the market; help consumers easily remember and access their products. Specifically, marketers must always update the situation, catch the current “hot” trends to create strategies to attract the attention of consumers.

*Experiment:

  • Marketers can do some small experimentation by changing the color of the CTA at various locations. Either they can test both versions of the same landing page, or they have to mess around with testing the entire website.
  • With the support of smart web technology, marketers will know what compared to loyal customers, what new customers visiting your business website are looking for for the first time.

Qualities to become a professional marketer:

*Listen and observe

  • The nature of the marketing profession is to find ways to sell the most products and services. Therefore, knowing how to listen and observe will help specialists understand the psychology and needs of customers. From there, give ideas and contributions to help improve revenue for the business.

* Possesses flexible adaptability

  • Unexpected events are always a factor that can change the plan, so as a Marketer, you must always stay calm before any situation to find a way to solve the problem; adapt to all circumstances flexibly so as not to affect the progress of the previously set plan.

* Creativity and enthusiasm

  • Marketers are people who guide the development of a business. Therefore, creativity and enthusiasm at work will help the marketing strategy to have many unique ideas, enough influence to surpass other competitors and affirm the brand’s position in the hearts of consumers.

* Sales skills

  • Not only new salesman need this skill, but also Marketer must equip themselves with sales skills because their mission is to help consumers realize that they need this product or service even when they are not satisfied. didn’t have that in mind at first.

* Good communication skill

  • With the nature of the job is to regularly meet and exchange from customers to partners, communication skills – persuasion is an extremely important factor for those working in this field of Marketing. A genuine and professional Marketer is a person who behaves flexibly; know how to grasp the psychology of the communication object; from which to come up with highly effective negotiation and persuasion plans.

* Teamwork skill

  • No project can be completed by just one person. In particular, marketing strategies require the contributions of many people to be successful. Therefore, good teamwork skills will bring the highest efficiency to the business.

Purpose of Marketing:

  • The main purpose of marketing is to help businesses approach the actual needs of potential customers. For this purpose, businesses normally carry out campaigns to distribute promotional coupons, let customers try their products, distribute leaflets, promote on other advertising channels… All for the purpose. generally sell the most products and services.

Benefits of Marketing:

Market analysis – consumers and consumer behavior:

This is the most important function of Marketing. Accordingly, the research is conducted by the experts of enterprises to collect information around the following issues:

  1. The wants and needs of potential customers.
  2. + The selection and buying behavior of target customers;
  3. + At what price does the target customer usually choose the product?
  4. + What distribution channels do target customers prefer?

All of this information is the basis for businesses to find the right target customers to thrive for their products.

Branding

  • Brands play a dominant role occupying a certain place in the minds of customers. A successful brand depends not only on creative communication but also on product design and development. Owning a special design gives the company an advantage to compete in the market. However, businesses need to develop products continuously for the brand to make its own mark in the market.

Standardization and grading

  • Enterprises must comply with certain standards to ensure safety and hygiene, human health, environmental protection and consumer interests. Standardization helps management to minimize deviations from standards.

Customer support service

  • Customer support service, also known as after-sales service, is an indispensable stage in the marketing activities of businesses. Good customer support service not only helps businesses keep good relationships with customers but also a feature to help businesses stand out in today’s fiercely competitive market.
  • Normally, normal customer support services include: payment support service, customer complaint handling department; test – free product warranty; periodic maintenance; fix all product related problems.

The role of marketing in building a business’ brand

Meet and satisfy the needs of customers

  • Successful businesses are often those who can adapt to market changes; know how to best satisfy customer needs. Therefore, at present, marketers must constantly learn, analyze and identify the tastes of target customers to come up with appropriate marketing strategies. Because the needs of customers are also affected by socio-cultural factors; personal and psychological factors.

Market research

Manufacturers typically take one or more of the following basic approaches:

  • Survey, survey (Survey): This is a method with a short and straight to the point questionnaire. Based on the customer’s answers, businesses will analyze the target customer group representing their market. Today, many marketers often choose in-person surveys to help businesses collect instant feedback, but this method requires high costs, time and human resources. Therefore, besides, there are other survey methods that are more friendly for businesses such as: telephone surveys; mail surveys (mail surveys); Online surveys.
  • Focus Group: A new method developed in recent years. Specifically, this is an interview method in which a group of people is brought together to discuss a specific issue to give businesses more detailed, in-depth feedback on the product experience.
  • In-depth interviews (Personal Interviews): A method of dialogue between the researcher and the informant. However, this method still has the limitation that the answer is not standardized; In some cases the researcher can put pressure on the informant. Besides, this method also takes a lot of time, so it has not been widely used by businesses.
  • Observation: This is the primary data collection method. The purpose of this method is mainly to record behaviors and gestures to collect data. The drawback is that the information is subject to subjectivity and may be misleading.
  • Field Trials: In marketing activities, researchers also borrow the techniques of science to put products into the real environment. This method brings high practical value because customers can directly try the company’s products. However, the drawback of this method is its high cost.

4Ps of Marketing

Product – Product

  • Floor products are everything that meets the needs of customers and can be traded in the market. Products can include tangible products (manufactured products) and intangible products (services). Products can be classified according to the time of use; forms of existence, consumer products, and means of production.

Price – Price

  • Product price is the amount of money that customers have to spend to receive a certain product or service with a certain quality. For businesses, this is one of the important factors to compete in the market; It is a tool to determine the sales and profits of a business.

Place – Distribution Channel

  • It is also an indispensable element in marketing. Enterprises must choose for themselves appropriate distribution channels to promote sales to the highest level; At the same time, that distribution channel must be convenient for customers to access to the company’s products.

Promotion – Promotion

  • It is an essential part of marketing campaigns. The vast majority of businesses offer their customers some additional benefit. This is the trick in business. The “promotion” strategy is to attract customers’ attention to the “benefits” factor to increase the number of customers coming to buy more. Not only that, if done well, the “promotion” strategy also helps customers remember the brand of that business.
  • In short, in order not to be eliminated in the new market environment effectively, businesses need to be equipped with timely knowledge and skills to grasp the rules of the game. In fact, in Vietnam, all businesses, whether they like it or not, must focus on building a suitable marketing strategy to stand firm in the fiercely competitive market today.

11 main divisions in marketing

Advertising – Advertising Department

  • is responsible for promoting an idea or a product or service in the market by placing advertisements in the media.

Public relations – Public Relations Department

  • The department is responsible for communicating with individuals and organizations to build positive relationships that benefit their businesses. People working in this department must have good communication and persuasion skills.

Customer service – Customer care department

  • Where a product is sold on the market with the same price, the same quality, then the human factor becomes more important than ever. At that time, customers will choose which business takes better care of customers.

Distribution – Distribution department

  • Owning diverse and convenient distribution channels is one of the advantages that helps businesses stand firm in the market.

Market research – Market research department

  • A department that conducts research to collect data and analyze information. The data will help businesses become more aware of how people react to their products or services.

Media planning – Media planning department

  • The media planning department usually uses the best communication channels to advertise the company’s products to target customers. Common media channels are: TV, internet, radio, magazines, etc.

Direct marketing

  • This department is responsible for sending direct messages to consumers through leaflets, forms, advertisements, etc.

One-to-one marketing

  • Is the transmission of information about products, services, and promotional packages that have been personalized to the needs of each target customer. This is a very detailed strategy.

Impression marketing

  • As a member of this department, you must do your best to make users have a good perception of your products and services.

Product pricing – Product pricing department

  • The department that gives long-term price orientations to achieve the business’s KPI goals. At the same time, this department also helps businesses optimize profits and ensure the existence of products in the market.

Sales – Sales department

  • It is an important part to help businesses increase revenue. Besides, this department also helps answer questions about products and services to convince customers to buy; increase revenue for the company.

Conclude

Through this article, Rusq.org hopes that readers will understand what Marketing is? Marketing Meanings. And also hope that the above information will help readers understand the meaning of the marketing phrase that businesses often use today.

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