Want to learn what is marketing and its types, benefits, 4Ps? let’s learn them.
Marketing is an enormous process that every business needs. Marketing helps businesses to promote their services and products effectively.
Dictionary.com defines marketing as “promoting business and selling the services and products with advertising and marketing research”.
What Is Marketing?
Marketing is the process of creating, communicating, delivering, exchanging, and offering that a company takes.
The purpose of marketing is to deliver value to customers and in return, to get paid.
Marketing is an important part of products and services promotion.
Let’s break the definition of marketing.
#1. Creating Value
The companies make the products through the process called “creating value“.
Marketing is the name of creating value that companies find out what customers want and need? Companies remember it when they make products.
#2. Communicating Value
Communicating is the part of marketing that helps you to sell your products to the customers.
As you know when the company produces a new product, the consumers don’t know about the new product. The company has to deliver a quality massage to the relevant audience to know and purchase the product.
But keep in mind that the message you deliver to your consumers is must be attractive and effective.
#3. Delivering Value
Now imagine, that a customer buys your service or product. Now it’s the responsibility of the company that delivers this product or service to customers (online /offline).
#4. Exchanging Value
Once you deliver the product, the next is actually selling. The company gives the product to the customer and in return, he gives the money.
Every time companies should deliver value to the customers to keep them happy.
When the customers are happy, companies will get the following benefits.
- The customers give them 5 stars.
- The customers will become the companies’ ambassadors, once they become ambassador, they will tell to other people to buy the products of these company. So the companies’ customer numbers will increase automatically.
- The customers will come to your shop/store again and again.
The companies offer products and services with valuable information that helps to refer more customers.
Types Of Marketing
Here’s a list of types of marketing.
#1. Internet Marketing
Every company needs to market its products and services on the internet.
#2. SEO (Search Engine Optimization)
SEO is the process of optimizing the content to show in search engine results. The main purpose of SEO is to rank the business website.
#3. Blog Marketing
Blogging is another way to market businesses, brands, products, and services. The companies publish blogs about the businesses and industries to nurture leads and customers.
#4. Social Media Marketing
Companies should never forget social media marketing. They should build a good presence and audience.
5. Print Marketing
In the ancient era, companies had used print media to market their businesses, products, and services.
6. Video Marketing
You can create and make videos for your brand, products, and services.
The 4Ps Of Marketing
The 4Ps of marketing are very important for every business to learn. Basically, these 4Ps explain the marketing interaction with each stage of business.
4Ps: Product, Place, price, Promotion
- Product: A company produces the products and wants to sell the products. but keep in mind if the company just selling the products, It might be won’t succeed in the business. The company team should research from the marketplace, identify the target audience, and more.
- Place: Now the company have to provide the products in those areas where the residents purchase these products.
- Price: The company marketing team has to analyze the customer insights and research about the competitors’ products prices. After that, the marketing team has to choose the good prices for the products.
- Promotion: Next, you have to select the promotion tools, budget, and ways that you will use them for product promotion.
- A Better Understanding of Your Audience
As a marketer, You can better understand and identify your audience, you have all the audience data (demographics data).
- Improve Brand Awareness
You can boost and improve your brand awareness.
- More Profit
You can make billion dollars with successful marketing.