Marketing Mix and Marketing Strategy
A marketing mix is a combination of factors that are likely to affect customer perception towards a certain service or product offered by a company. Four main factors that are included in the marketing mix; they are price, product, place, and promotion. The marketing mix is not the same as a marketing strategy but is a tool of a marketing strategy.
Marketing management and its daily functions
Marketing management means a continuous process that ensures that a company’s products are competitive and are meeting consumer’s needs. It is important in keeping a company’s products competitive and assists in product development and differentiation. A marketing manager has the role of evaluating the response and challenges of the process daily.
Applied Marketing
Applied marketing strategy is a business marketing policy where a company aligns its processes and products to facilitate the development of effective marketing and customer management systems. It looks in all spheres that can affect a marketing campaign.
Marketing Strategy and Marketing Plan
A marketing strategy is an overall policy to be followed in marketing within a company; it looks into areas of increasing the general awareness and aligning a company to success factors. A marketing plan is part of a marketing strategy that deals with getting the products or service to the customer, it has a narrower and more focused approach than a marketing strategy.
“Good Corporate Citizen” Status in Marketing
Some companies that I feel have good citizenship include Toyota Motor Company and Starbucks Coffee Company. Both companies have enacted environmental conservation policies and are aiming at improving their processes to have environmentally friendly operations. The policies have strengthened their marketing strategies.
Social Responsibility in Marketing
Social responsibility means the concerns and benefits that a company has to the society; it involves programs that aims at giving back to the societies through programs that benefit the society. They are used as marketing tools as they lead to good customer’s business relationships.
Marketing to Business vs. Consumers
Marketing to business means that the business wants to create awareness and make a sale, marketing to consumers is perceived as a tool through which a company wants to attain its targets through the customer. For example, engaging in corporate social responsibility programs is marketing to businesses while reducing prices to consumers is selling to customers. Both can be undertaken together.
International Trade and Marketing in the Future
International trade has increased due to corporation among different countries; on the other hand, globalization and improvement of communication and transport networks have played a crucial part. In the future, the trade is expected to be hijacked with computerized business processes like e-business and e-trade.
Customer Relation Management
Customer relation management is a current marketing tool where a company aims at improving the relationship it has with its customers; when a company is adopting this policy, all decisions are made with a reflection of their effects on the customer. The method of marketing is on the rise and is expected to grow further.
Marketing Changed by Internet
The internet is another tool/media of marketing; companies can now sell their products via the internet. Some of the methods that can be used to advertise and sell goods online include online advertising, e-trade, and e-business.