Good marketing has become increasingly important for success, but what constitutes it is in constant evolution and change.
THE IMPORTANCE OF MARKETING
Given the current dynamism and the constant search for economic benefits by companies, marketing emerges as the source to achieve sufficient demand for products and services, of course, from the hand of all other departments within a company. Now, we can not only focus on the economic success of companies, but we must also recognize the impact that marketing makes on people’s lives by providing them with new products and options in the market, as well as indirectly generating jobs As companies grow.
THE REACH OF MARKETING
To understand the scope of marketing it is necessary to have clear a series of elements:
What is marketing?
In the first instance it is necessary to start from the fact that many people confuse what marketing is and would not really be considered as simple as trying to identify and satisfy human and social needs, in a cost effective way. In this way the center is always the customer and through knowing and understanding it in depth is able to adjust a product successfully.
What is marketed?
At this point we talk about physical goods, services, events, experiences (created through joint goods and services), people (artists …), places, properties (real estate, stocks and bonds), organizations, information (universities, colleges … ), Ideas (idea or benefit behind a product)
Marketing specialists and potential customers who are involved in each other in the sale, markets as buyers and sellers that are grouped into market members and member of industry respectively, for marketing specialists. Hence the key customer markets appear:
– Consumer markets such as companies that sell goods and services of mass consumption.
– Industrial markets composed of companies that sell goods and services to other companies.
– Global markets composed of the companies that market their products in different countries.
– Non-profit and government markets made up of churches, universities …
– Market where we talk about the physical place (shop), cybermarket as digital (shopping on the internet) and metamarket as that group of complementary products and services (car dealers, insurers …)
FUNDAMENTAL MARKETING CONCEPTS
– Needs. Desires and demands: Understanding by necessity the basic human requirements to live (air, food …), desires that are satisfied by specific objects for leisure or entertainment issues and demands such as those desires of something material that can be covered economically.
– Markets target, positioning and segmentation: Based on the fact that not all people have the same tastes or preferences, the market is divided into homogeneous segments, identifying subsequently which one represents a greater opportunity to choose it as its target market to which it is Develops a market offer that the marketing specialist will seek to position in the minds of buyers.
– Offers and brands: Creating or having a favorable and recognized brand image means that the customer’s needs are met with a value proposition.
– Value and satisfaction: The value understood as the combination that exists between quality, service and price, while satisfaction lies in whether it meets customer expectations.
– Marketing channels: Communication channels for sending and receiving messages from buyers (magazines, radio …), distribution channels to show, sell or deliver the product (internet, distributors …) and service channels such as Transport companies, banks …
– Supply chain: Starts from the raw material, the components to the finished product that is delivered to the final purchaser.
– Competition: rival offers and substitutes.
– Marketing environment: divided between the functional environment that includes all those involved in production, distribution and promotion; While on the other hand the general environment is related to the elements external to the company (sociocultural, political-legal …)
THE NEW REALITIES OF MARKETING
Taking up what was mentioned at the beginning, the changing environment and the current reality put the marketing in a panorama full of new opportunities and challenges ahead. Elements or forces such as the technological revolution, globalization and its advances in different fields such as communications, deregulation by governments, privatization of formerly public companies, increased competition in the face of growing brands Industrial convergence or the fact that there are no longer barriers between the different sectors, the transformation of retailers by competition against other sales channels, the disintermediation in the delivery of products and services, the increase in Consumer buying power due in part to disintermediation, having very well informed consumers, the possibility of consumer participation and influence, and consumer resistance to being loyal to a brand and looking for different options.
NEW COMPANY CAPABILITIES
As if it were a chain all these forces that were mentioned and that are part of the new realities of the marketing also endow of capacities to the companies. In the first instance, the rise of the internet allows it to be used as an excellent channel of information and sales due to its unlimited reach, just as the magic of the internet allows better and more information about customers for the possibility of being in Constant contact with them, just as social networks are a latent part of people’s daily life and for this reason they become a tool to transmit brand messages in real time.
User communities that help drive a particular product, all handling ads, coupons and samples that generate more interaction, mobile marketing by location by GPS that allows to identify the location and therefore the precise message, the fact of being able Offering differentiated or personalized products also allows a greater connection with the customer, all the online platform provides the opportunity to easily access recruitment and training of employees, as well as to create an internal communication between the entire organization by this means. Finally, it is clear that online purchases allow better prices and proposals to be obtained.
At this point the concept of holistic marketing appears, which is based on the development, design and implementation of programs, processes and marketing activities that recognize their breadth and interdependence. In this way there is talk of four components, relationship marketing that seeks to build satisfying and long-term relationships with customers, employees, marketing partners and the financial community which will bring benefits. Integrated marketing where reviews activities are designed and established marketing programs to create, communicate and deliver value to customers, not only with a product, but with everything that implies that product before and after purchase. Internal marketing is nothing more than hiring, training and motivating employees, which will be reflected in the attention to customers. Finally marketing performance to understand the financial and non-financial results of the company, as its social impact.
UPDATE OF THE FOUR PS
Contrary to the traditional marketing mix and the four Ps, product, price, place and promotion, according to holistic marketing the concept of people appears as the fact that employees are fundamental to the success of marketing, processes such as creativity , Discipline and structure that is incorporated into the direction of marketing, programs such as the activities of the company that address the consumer and performance such as measures of financial, non-financial and external results to the company.
MARKETING ADDRESSING TASKS
In order for the marketing direction to succeed, it is necessary to develop concrete marketing plans that specify the marketing strategy and tactics to be used, to capture marketing perspectives in order to closely monitor the environment and forecast demand, develop strong relationships, Profitable and long-term with customers, generate strong brands, formulate the market offer based on characteristics and price, deliver value through its products and services, and create successful long-term growth through the development of new products.