Many people often think that marketing is only related to the promotion or advertising of a company, but the truth is that the promotion and advertising are only two of the many aspects of marketing.
In general terms, marketing (also known as marketing or marketing) is the set of activities that allow a company to find a market to address and serve it in the best way possible.
Some examples of these activities are the pursuit of business opportunities, consumer analysis, competition analysis, product design, product promotion and product distribution.
Thus, when you are looking for business opportunities, analyzing consumers and competition, and designing, promoting and distributing products, you can say that you are “marketing”.
But if this explanation has not yet been clear to us what marketing is, the best way we have to understand its concept is through the knowledge of its main functions.
Let’s see below what are the main functions of marketing or, in other words, what are the main functions of the area, department or people in charge of marketing in a company:
Search for business opportunities.
The first function of marketing is to find, identify and analyze business opportunities that may exist in the market.
This search for business opportunities is done through market research that allows identifying and analyzing needs, problems, desires, changes and trends in the market.
-The need to save energy could mean the opportunity to develop products to meet this need.
-The problem of lack of security could mean the opportunity to offer services to help address that problem.
-The desire to dress in unique, original and novel clothes could mean the opportunity to start a clothing business that satisfies that desire.
-Changes in consumption preferences in favor of healthy foods could mean the opportunity to set up a healthy food business.
-The trend of increasing the number of seniors could mean the opportunity to create a business dedicated to these people.
It is often thought that business opportunities only comprise opportunities to start a new business; However, these also occur when there is already a business in progress; For example, when there are opportunities to create a new product, enter a new market, or bet on a new business line.
The second function of marketing is to analyze consumers, which involves analyzing their needs, tastes, preferences, desires, consumption habits, buying behaviors (where they buy, when they buy, how often they buy, why they buy), customs And attitudes.
The analysis of consumers allows a company to know them better and, thus, to be able to design strategies that allow them to satisfy their needs, tastes, preferences and desires, or that considering their other characteristics. For example, it allows you to:
Detect new needs or desires in them and, in this way, be able to design new products that are responsible for satisfying those needs or desires.
Detect changes in their tastes or preferences and, thus, be able to adapt existing products to those changes.
Detect trends in their buying behaviors, and thus be able to select sales channels based on those trends.