In business, marketing refers to the action of promoting and selling products and services such as cash for junk cars, including marketing research and advertising. If you work in a marketing role, it can become increasingly difficult to have a good definition of marketing. Marketing is all-encompassing to have a straight forward definition.
Purpose of Marketing
Marketing is the process of getting people interested in your company’s products and services. It happens through market research, analysis as well as understanding the interests of your ideal customers. Marketing will include all aspects of a business including product development, distribution, sales as well as advertising.
When it comes to marketing, there are different types involved.
Internet marketing involves the process of optimizing the content on the web so that it appears in search engine results. It is used by marketers to attract people who perform searches that are about what they are interested in.
Search engine optimization commonly abbreviated as SEO refers to the process of optimizing the content on a website to ensure such contents are highly visible on the internet and easily available in front of the people making the searches.
Blog marketing involves the act of making blogs highly visible and available in front of your readers. When you are publishing content on a blog, you want to ensure it’s highly available and visible before a lot of prospects and readers.
Marketing and Advertising
They say if marketing is a wheel, then advertising is one spoke of that wheel. Marketing entails product development, product distribution, market research, public relations, sales strategy, and customer support. Marketing is very important in all stages of the business selling journey. It can be applied on different platforms such as social media. Teams within an organization can identify their audience and communicate with them, and work to promote the company’s brand.
The other two important aspects you will need to factor out are places and promotion strategies.
There are four key components involved in marketing;
Let’s say you have come up with an idea of a product or service you want to sell. You might not achieve a lot of success if you just go straight and start the selling process. You will need your marketing team to do market research and come up with answers to some critical questions. You will need to know your target market, determine if there is a market for your product, come up with messaging to increase your product sales, understand the platforms to use for your selling, among other things.
You will task your team with the responsibility of checking out competitors’ product prices and focus on coming up with good estimates on how you will be selling your products and at what price. If the price is too high, you will lose out on a solid customer base. If the price is too low, you might lose more money than you gain. You need to use industry research and consumer analysis to come up with a good price range.