Marketing refers to the act of attracting buyers and sellers through different channels. It is often done through the use of advertising, word of mouth, sales promotion, price matching, and other direct marketing techniques. Marketing involves many factors such as product demand, brand image, and public perception. Popular new techniques of marketing is to use some third party social media sites like socialwick.
One of the most common forms of marketing is relationship marketing. Relationship marketing is also known as brand extension or brand synchronization. In this form of marketing, a company not only advertises its products but also tries to build a long-term relationship with the consumers. It involves advertising or promoting products in the market, offering discounts or special deals to consumers, and creating public awareness through various types of promotions and advertisements.
A basic definition of marketing can be defined as a process by which a firm successfully attains its goals and objectives through the presentation of its product or service to the consuming public. Marketing is a critical and creative tool that enables a firm to satisfy or meet the needs and expectations of potential consumers. Marketing is an essential marketing strategy that must be considered and implemented effectively. Marketing is defined by Wikipedia as the “practice of marketing goods or services to the public in order to acquire a favorable response”. The definition of marketing can also be seen in the United States Justice Department’s Office of Legal Counsel Circular Extractions paragraph 7, which states that “the marketing of a product or service to the consuming public is designed to satisfy a need and is designed to increase the value of the product or service for consumers”.
Business marketing is a process by which organizations reach out to potential customers and generate sales in order to realize their business objectives. Marketing involves the use of effective communication strategies to reach out to potential customers and present a business opportunity to them. This is done through various methods such as advertising media, including print, television, and radio. The marketing of a product or service is used to attract customers and make them aware of products and services that match the key advantages associated with it. This helps in building customer loyalty, increasing profits and driving quality growth.
In order to define marketing in terms of its relationship with business objectives, it is necessary for us to define marketing itself. According to the Merriam Webster’s dictionary, marketing means the “production of products for sale for the satisfaction of human wants or for the encouragement of economic activity”. Thus, marketing defines the creation of products or services for the fulfillment of human needs. The concept of marketing is central to the overall economics of a society as a whole and an important factor in the determination of the level of development of any country.
The Internet has made the marketing process simpler, faster and more effective. As customers spend more time online, they also interact more with other customers and form a network. These networks have increased the reach of traditional channels of advertising. Social media marketing is an online advertising strategy, which seeks to create and build a social community around a business or product. It is an offshoot of the traditional direct marketing practices.
The objective of marketing is to satisfy the needs of the customer by satisfying the existing demand. Marketing strategies are designed to achieve this result through a combination of traditional and new approaches. The primary focus of marketing is to acquire, hold, and retain customers; it is a process by which the product or service sought by the customer is established and the satisfaction of the customer is assured.
With the advent of social media, an online marketing strategy is required to generate leads. The traditional methods of lead generation are by distributing printed and electronic advertisements through various channels. Nowadays, through the Internet, business owners can generate leads through a variety of online and offline marketing campaigns. Many companies also use traditional marketing tools, such as telemarketing and mass mailing, to generate leads. Internet-based methods are preferred when marketing products or services over the Internet because it is the most cost effective way to attract new customers.