Marketing Essentials

Marketing is everywhere and it works all the time. Marketing is for everyone and everyone is part of marketing. For any product or service to be successful, it is important that it is communicated in the right way, to right people, at the right time and in the right place. Marketing is pervasive in our day to day life,either as a consumer or as a marketer or as a part of supply chain or even as a buyer; who is influencing others or getting influenced by others. Products are everywhere so are the brands.

Why products are available everywhere because we need them, we search for them, we find them, we purchase them and we make them successful. This is called the consumer's part. Meanwhile some others are observing you, that is called marketer. They are observing  what you do. They make products, provide services,they inform you, and they make products available for you. Both the part is important because without them business world won't survive.

So we will learn about both of them: the consumer and the marketer!!

We will discuss about how to identify the consumer, how to influence them through right marketing strategies and how to develop sustainable positioning. Observation is very important to understand these two in practical world.  

   

Marketing Sales

This is my first post so i am starting with simple marketing and sales definition. Most of the people confuse with these two so let's focus on the key:

To persuade people to buy your products or services is sales. This is the shortest definition.

Meeting human needs profitably is called marketing.
One can also add meeting human and social needs profitably.

Selling is not the important part of marketing! Selling is only the small part of marketing iceberg.
While these two functions are different but they share a common goal: to attract prospects and convert them to customers.

Marketing is the process of planning and executing the conception, pricing, promotion,
and distribution of ideas, goods, and services to create exchanges that satisfy
individuals' and companies' goals.

"Marketing isn't somebody's responsibility- it is everyone's responsibility." -Jack Welch

Sales is a term used to define the activities that lead to the selling of goods and services.
Marketing is a way of understanding and satisfying the customer.
"Marketing is the whole business seen from customer's point of view." -Peter Drucker

Understand what the customer wants.
Marketers need to understand these basic terms, they set about satisfying the customers' (or target market's) needs, wants, and demands.

Needs are fundamental requirements, such as food, air, water, clothing, and
shelter.

Wants are needs that are directed at specific objects that might satisfy those
needs. For instance, you might need food, but for a special occasion you may want
to have a meal at a restaurant rather than preparing your food at home.

Demands arise when people both want a specific product and are willing and able
to pay for it.

For example, a person might need food, but a restaurant's marketing message or ad could
influence that person to want and demand a KFC chicken bucket rather than fish and chips.

Whether you are writing a marketing or sales plan, both need details history of the company.

The marketing plan starts with 4Ps: product, price, place and promotion.

However; for service industry marketing plan will be 7Ps. We will discuss it later.

The marketing plan talks about what the product is, its price, who it will be sold to, and where it will be sold.

Sales plan include sales process, team structure, target, and goals.