Marketing Analysis: Benefits and Concepts

Introduction

Businesses should use powerful strategies to deliver their finished products or services to the greatest number of customers. This goal can only be realized through the use of efficient marketing practices. This essay gives a detailed analysis of marketing, its benefits, and concepts that must be taken seriously to increase sales. The changes experienced in marketing managers and the roles of salespeople in the future are described.

Importance of Marketing

Companies that want to succeed must engage in inappropriate marketing practices (Dadzie, Amponsah, Dadzie, & Winston, 2017). The process is important because it supports a company’s brand. The increased awareness maximizes sales and business growth. The practice can sustain a firm’s model due to the established relationships with its customers. Marketing engages consumers and informs them about new products or discounts. These achievements of marketing result in increased sales and business growth. Corporations that market their products efficiently remain relevant in their sectors.

Scope of Marketing

Flores (2016) indicates that marketing is a practice defined by four unique features. The first one is that marketing is a process characterized by numerous operations and processes. These include market planning, analysis, control, and implementation. The second feature is that it entails the application of a mix. The model focuses on aspects such as price, distribution, product, and promotion (Rossiter, 2017). The third one indicates that marketing is an exchange of services, time, or money. Finally, marketing is aimed at meeting the needs of consumers and organizations.

Fundamental Marketing Concepts

Marketing is a process whereby different concepts must be considered. Marketing utilities are the capabilities of a given product to fulfill the needs of every customer. These include time, form, possession, and place utilities. The product concept is also taken seriously by marketers. The concept guides marketers to come up with superior products and reasonable prices. The selling concept supports the idea of promotion to maximize sales. The societal concept is a marketing orientation aimed at satisfying the needs of consumers and promoting societal welfare (Flores, 2016). The idea is to strike a balance between consumer expectations and profits.

Changes in Marketing Management

Marketing management is a field that focuses on the actions, activities, and processes implemented to deliver quality products and services to every customer. Modern changes have transformed the field of marketing management. The first observation is that companies are now focusing on short-term marketing goals. This move has been catalyzed by how individuals consume different products. Test marketing is a new field whereby experimentations and consumer behaviors are being used to develop superior marketing strategies (Flores, 2016). The Internet has led to diverse online marketing practices. The process is also benefiting from social networks such as Facebook. Marketing management is currently focusing on consumers’ expectations and purchasing behaviors. Research is being undertaken to inform advanced marketing models.

Tasks for Marketing Management

Several tasks must be undertaken by marketing managers who want to emerge successfully. The first task is developing adequate plans to meet the outlined marketing needs. Marketing insights and ideas should be captured from research activities (Dadzie et al., 2017). The marketing manager will be required to use social media to maximize consumer involvement and sales. The manager must build strong brands through effective advertising practices. Both long-term and short-term marketing goals must also be developed.

Conclusion

The above answers indicate that marketing is an important process for every business organization. Marketing managers must be aware of emerging changes and develop apposite models to achieve their goals. Modern technologies and emerging consumer needs should, therefore, be considered by future marketing managers.

References

Dadzie, K. Q., Amponsah, D. K., Dadzie, C. A., & Winston, E. M. (2017). How firms implement marketing strategies in emerging markets: An empirical assessment of the 4A marketing mix framework. Journal of Marketing Theory & Practice, 25(3), 234-256. Web.

Flores, L. (2016). Market research industry, tipping point or return? International Journal of Market Research, 58(1), 15-17. Web.

Rossiter, J. R. (2017). Optimal standard measures for marketing. Journal of Marketing Management, 33(5), 313-326. Web.