The concept of marketing refers to the set of strategies to improve business results based on experiences, expectations and customers. It encompasses from research to distribution and the reception.
This term implies the analysis of the commercial management of the company and the fundamental objective is to retain the customers they currently have, while trying to add new buyers. The different methods of marketing try to provide the precise tools to take over the market. For this it will be necessary for them to insist on a series of questions such as the '4 Ps': Price, product, advertising (promotion) and place (distribution).
The definition of marketing by the RAE is the "set of principles and practices that seek to increase sales, especially demand."
What marketing pursues is to position a brand or product in the minds of customers. Part of the consumer's needs to design, execute and manage the business's marketing activities. Marketing campaigns involve an investment in the relationship of the company with customers, Suppliers and even workers, where the insertion of advertising in the media can also be included.
Marketing actions aim to achieve a profitability, either short term or long term.
Marketing presents different orientations, as we will see below:
- To the market: to adapt the needs of an article to the demands of the client.
- To sales: with the purpose of increasing the company's participation in the market.
- To the product: in those situations in which the company already controls the entire market and its attention is focused on improving the production process.
In conclusion, it can be said that the marketing plans must maintain direct contact with the client at all times, to know their needs. Know the characteristics of marketing mix and the famous 4 P's of business marketing with which all strategic decisions of the company can be determined.
4p of business marketing