Marketing Agency But What Is Marketing?

Marketing Agency

Marketing Agency

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By Halal Incorp,

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Marketing is the activity of promoting and selling a product or a service, through advertisement and market research, (collecting data about the customer’s wants and needs). Marketing is undertaken in order to engage with the customer and identify their interests in the product/service which the company is proposing.

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It has relations to many aspects of a business, i.e. product development, sales, and advertising; and is therefore a key component of any company. It is widely believed that marketing is a term with just one straightforward definition, but it actually branches out into various different types – social media marketing, content marketing, and digital marketing are just a few that can be named.

Have A Marketing Agency But What Is Marketing?

The purpose of marketing is simple – to generate revenue for the organisation, via various digital strategies which encourage customers to invest and establish trust within the business, ultimately increasing sales and profits. The idea is to communicate the benefits of the services which the customer will receive, in order to acquire and maintain the interest of the target audience.

What are the benefits?

One of the most important benefits of marketing is the fact that every member of the team is working towards the same goal, regardless of the department they work in. Whether you work in sales or in advertising, revenue cannot be generated unless every member of staff works together – therefore boosting teamwork and morale. Additionally, good marketing helps to gain data in order to allow the business to learn more about the target audience and their needs.

Have A Marketing Agency But What Is Marketing?

This will allow the company to be more specific in their strategy and advertising, driving the company towards success. Understanding the customer’s needs will also establish trust between the service provider and the customer – ultimately keeping them invested in the product/service which is being offered. Marketing offers an obvious promotion of the business, pushing it to get the recognition and attention of the customer.

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The biggest advantage of marketing is that it doesn’t just benefit the organisation, but it also benefits the customer. The producer of the product or service being offered identify the specific needs and preferences of the people, and the customer comes to know about what product the brand can offer and what it can do for them.

What are the drawbacks/criticisms?

The first and probably most important disadvantage of marketing is the cost it takes to maintain. Advertising, if not done properly, can prove to be very costly as money will just be being thrown away. Wasting efforts by targeting the wrong audience can be a serious and costly mistake, which is using money that some people cannot afford to lose, especially those who are just starting up. It is therefore essential to do all appropriate research beforehand to ensure costs are kept to a minimum.

Have A Marketing Agency But What Is Marketing?

As well as this, in order to ensure marketing is done in the best and most efficient manner, it requires a lot of time and effort. Researching the most appropriate strategy, designing the adverts, and dealing with their responses is a very time-consuming process, and can prove to be very costly if the campaign is unsuccessful. Therefore, it is essential to also take some time to keep track of whether the marketing strategy which is being implemented is actually useful.

Marketing Agency: Additionally, marketing campaigns will usually need to be repeatedly advertised to a customer before the information actually sinks in. The obvious disadvantage here is the fact that marketing will need to be consistent and ongoing to ensure that it is having an impact on the target audience – resulting in a time-consuming and expensive process.

What is important to consider in marketing when looking at a customer’s needs?

To understand what is in the best interest of the customer, a rich understanding of the following terms:

  • Needs – something necessary which people need to survive and cannot live without. For example, humans have a need for food and water.
  • Wants – something which is desired but can be lived without. An example of a want is designer clothes.
  • Demands – the quantity of a product or service which customers are willing to pay within a set period.

When considering a target market, it is important to identify specific attributes that will match an individual’s requirements/desires in a product. Some of these can include gender, age, education, income level, and race. It is important to the consumers when the business makes a clear effort to match their interests, which can attract a wider target audience.

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What are the different types of marketing and what are the differences between them?

There are many different types of marketing, and every one of them have clear distinctions between them. Some of these include:

  • Outbound marketing – this is when the marketer reaches out to the customer, rather than the customer coming to the company to find the required information. Examples include cold calling and print ads.
  • Digital marketing – this is the type of marketing which uses digital technology such as computers, mobile phones, and other digital media to promote products and services. An example is using social media to practice marketing
  • Search engine marketing – this is a form of marketing using the internet and involves the promotion of websites by increasing their visibility in search engine results.
  • Content marketing – this is a form of marketing which is focused on creating and distributing content for a specific online target audience
  • Social media marketing – this is a type of marketing which utilises social media platforms to advertise/promote a product or service
  • Video marketing – this is marketing done via a given video, designed to increase social activity
  • Email marketing – the act of sending a message, usually to a group of people, using email. This type of marketing uses email to request business, interest customers, or generate sales
  • Influencer marketing – this is a form of social media marketing which involves advertisements from influencers which have a wide audience or large influence in a specific field (usually the field that the business is interested in).

Marketing can also be split into two other types – B2B, which is business to business marketing, and B2C, which is known as business to customer marketing.

  • B2B marketing is any marketing strategy or content which is aimed at another business. Any company that sells a product or service to another business will use this type of marketing. Examples of products or services which are sold via this type of marketing are raw materials and accessory equipment
  • B2C marketing refers to the strategies that a company uses to promote its products or services to individual customers.

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What is the marketing mix?

The marketing mix is used to guide any decision making which occurs in marketing. It represents the basic tools that can be used to bring products or services to the market. The marketing mix revolves around four concepts, known as the 4 P’s: product, price, place, and promotion.

The product aspect focuses on the actual specifications of the products or services which are being provided, and how it relates to the end product, and how this will benefit the customer’s needs and wants. This aspect mainly focuses on product design, branding, packaging, and labelling – it focuses on all things to do with the product or service which is being created. The pricing aspect focuses on the price which is set that the customer will pay for a certain product or service.

Have A Marketing Agency But What Is Marketing?

The price takes into consideration all of the attention, energy, work, and sacrifices that have been made to achieve the end product, and this will be included when deciding on an appropriate price. ‘Place’ refers to how the product or service will reach the consumer. This includes both how the product will reach the buyer physically (i.e. the wholesaler and retailer who will actually provide the product/service), and also how it is sold, i.e. whether it will be sold online or via retail. Another thing which is considered is the location in which the item will be sold and to whom – will it be sold to adults, families, or other businesses? The last P stands for promotion, and it focuses on how the business will provide a clear message to the consumer in order to get the best response from them.

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This message is designed in such a way where it will provoke a reaction or spark some interest in the product which is being provided. A few examples of what the promotion aspect focuses on are advertising, event marketing, and exhibitions. These are all ways in which the business will promote their product or service to a potential target audience.

What is the marketing environment?

The marketing environment is all of the elements which influence any decisions/planning which relate to the marketing which a business carries out. The marketing environment consists of:

  • Macro-environment – variety of external factors that have a large impact on the business and the decisions it makes. Economic and social factors are two examples of these external factors. The business has little control over these.
  • Micro-environment – the business holds a greater degree of control over external factors compared to the macro-environment element of the marketing environment but doesn’t have total control. The micro-environment includes employees, suppliers, and the media.
  • Internal environment – this relates to all of the factors which are inside the company itself. The internal environment of the business includes inventory, company policy, and capital assets. The business has total control over all factors which are associated with the internal environment.

What is marketing research?

Marketing Agency: Marketing research is conducted in order to gain the public’s view on a product, and to identify what products/services the public enjoy/dislike, and what will work the best. It gathers information about what the buyer wants/needs. It is used to gain a better perspective of the target audience, and stay ahead of any potential competition.

It also helps to keep costs low as it stops the business from taking any investment risks (they will know from the research which is being conducted whether a product or service is worth investing into, so they know which to scrap and which to keep). One example of market research is asking a group of ten people to test five flavours of a cake bar, and after a week asking them to complete a questionnaire so that the business can identify what products the target audience prefer and enjoy.

Marketing Agency: Overall, although marketing is an ongoing process which requires a lot of time and effort to be invested into it, it is essential as it allows businesses to flourish and maintain long-lasting and trusting relationships with their target audience. Engaging with a customer is the heart of any successful business, therefore making it one of the most significant activities which a company can undertake to ensure successful promotion of the product or service which they are selling.

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