¨WHY MARKETING IS ESSENTIAL:
The genesis of marketing evolutes from the invention of a particular product. After all, why should a product be marketed? Simply, to meet the growing needs of a consumer, as the lifestyle changes from one end to the other.
Globally consumer needs are same excepting the variation in quality from a company to the other. viz., electronic goods, computers, FMCG, precious metals, textiles etc., Global branded computer internationals, DELL, MICROSOFT, INTEL, SAMSUNG, IBM, have their respective standards of quality and marketing tools. Each computer quality differs. This is where marketing shoulders huge responsibility.
According to Peter Drucker “The customer is the business” and ‘The purpose of business is to create a customer’ (Art of Management by Peter Drucker, Marketing P.1) Without customer, products have no value. Therefore, marketing plays a primary and secondary concern of displaying and selling a product, which envisages for the development of a business and to satisfy the wants of a consumer.
Marketing in these technology times can be defined as ‘identify the customer and sell the product’. Without selling, buying does not take place. To summarize, business, marketing, customer is like a three stepladder.
Business can be formulized as BUSINESS = PRODUCT + MARKETING.
If marketing is not followed up, in other words, advertising does not take place, then the customer and the market remains unidentified.
HOW MARKETING SHOULD BE DONE.
The essence of marketing is to provide a particular product, where it is required is in demand.
For Eg., Aqua products, fish and prawns are not available on dry and hot areas, demographically, the companies can recognize these places. Apparently, the customer will begin to buy the product. This can be termed and quoted as ‘DO NOT SELL THE SALT BY THE SEA SHORE BUT WHERE THERE IS NO SALT’.
Choosing the method of marketing according to the size and need of product.
When a product is entering the market, it is required to decide the following criteria.
To what sector or segment (lower, middle or luxurious class) of consumer, the product is aimed for.
How attractive and qualitative product is.
Is it easily affordable and available?
Level of production to supply to meet more demand.
Here, take the example of comics, ARCHIES, PHANTOM, SPIDERMAN, and BATMAN. The sect of the consumer market is aimed at children and adolescents.
To market comics, company need to tap libraries and schools which is easily affordable for a company. It does not require heavy marketing for such product.
Without heavy investment on marketing, the company can easily sell its product in big volumes, even though the size of the company is small and medium or entrepreneurial. Care and attention must be made on quality that is being offered to the consumer.
WHAT HAPPENS WHEN PROPER MARKETING IS DONE?
After sales promotion, there is every possibility for increasing in the demand of the product. The following results will occur to the company on proper marketing:
Consumer understands the product and it uses in long and short-term perspective.
Satisfaction and happiness will advertise the product silently from one customer to the other.
Hassle free products will take off as ‘most wanted’ products.
There is an increase in the volume of business.
Increase in the number of consumers.
For E.g. In case of McDonald pizzas, people would never mind standing in a queue for an hour for a pizza. The main reason for so much of patience in waiting by the consumer is ‘the quality’. McDonalds lip smacking pizzas are mouth watering for the flavor and taste it offers. For McDonalds its’ “quality “ is its biggest marketing.
This is the best method of marketing in food industry. The company is marketing pizzas by keeping the standards of its quality.
Daimler & Chrysler
The billion-dollar car company offers and attracts all the segments of customers with Benz cards. There is remodeling of cars and development of market from time to time.
Microsoft & Dell
These billion dollar companies have tapped the market of every nook and corner of the world. They have the market of all nations, as their product has been widely attractive and efficient. Here the strength of the company in marketing exists in ‘quality and efficiency’.
Therefore, proper method of marketing will yield good results in growth and development of business while on the other side; customers are happy and content about the product.
GLOBAL BUSINESS MARKETING STANDARDS
Easy accessibility of technology and information has brought the business to one end. Global business marketing standards are:
Offering an excellent product.
Quick service support.
Understand the customer and offering an excellent product
Understand the customer and apply a thinking process in the point view of a buyer and manufacturing such efficient product and marketing about its availability is the highest priority of a global business.
In every region, customer is same. Demographic needs are different from one continent to the other. For eg.hot regions require coolers all through the year and cold regions require heaters all through the year.
So, where there is a need, there, the marketing standards need to be applied by the company and satisfy the wants of the consumer.
Customer must be able to buy the product easily. Therefore, the company must arrange the products, in wholesale and retail outlets within a short distance.
Company must maintain the price fixing of the product. To attract a large number of customers, apart from being qualitative, medium pricing will also help the company to be a standard business company apart from being a stiff competitor.
QUICK SERVICE SUPPORT
Apart from offering availability and pricing, service support is what mostly in want by the customer. This is one area, where the company gathers goodwill, when there is an excellent service support and their business is sustained.
In the case of electronics and precious metals, the service given to the customer is appreciated by the customer and builds the customer-company relation.
APPLICATION OF STANDARD METHODS OF MARKETING
Small screen is viewed every day by millions around the world. This is the most powerful media of marketing now catching up at a rapid growth. Experts in advertising are tapping the brain neurons, which work on the interests of the viewer and leave an impact about the product.
This is the crucial work of a company where advertisement is carefully drawn safeguarding the interests of the company.
Internet is the most affordable mode of marketing. In fact it is cheaper than any other media of marketing.
Marketing is done through business directories, search engines, trade or b2b portals, and business yellow pages. Some of the successful trade portals are amazon.com, ebay.com, alibaba.com, wal-mart.com. Search engines which help is marketing business are google.com, rediff.com, hotmail.com, sify.com.
These web sites offer marketing as well as service support at the click of a mouse.
This is the awesome and incredibly useful to the buyer to buy software, goods or to do business. It surpasses all the hindrances standing as THE MOST COST EFFECTIVE AND EFFICIENT METHOD OF MARKETING TO GROW BUSINESS.
Statistics show a tremendous growth on users of internet as millions log on for their day to day needs, this is resulting in boost of the economy as the trading closes in big numbers at the end of a day, just by sitting across a computer and clicking a mouse.
This is good for every country and continent. It paves the way for inter-dependence while developing the under-developed nations, as there are no linguistic or demographic frontiers on Internet.
The powerful means of global business is Internet or another name for GLOBAL TRADE AND A POWERFUL MARKETING TOOL.
News journals are restricted to domestic business and trade. Here again the role of advertising experts places a company among the first fortunes to rule the road of winning a customer in buying their product.
This is an age-old method of marketing a product, which is still in trend in these tech-savvy days. Few companies, who are on the track of growth, adopt this marketing method, which offers a survey and thinking process of a customer.
This marketing method, allows the company to get closer to the consumer and also to get feed back about the product. Nevertheless, this makes a lot of impact on customer about the company’s product and also allows the user to interact with the company’s representative to discuss in detail about the service support and other essential needs and views.
Peter Drucker: Art of Management. MARKETING PAGE:1