What is Marketing? Everything you need to know about Marketing in business

Marketing is an effective way for businesses to enhance brand awareness, generate potential customer leads, and increase sales revenue. Nowadays, Marketing is one of the most important aspects of businesses, and it is a determining factor in improving the competitive advantage of the company in the market.

What is Marketing?

What is Marketing? Marketing can be understood as all activities to bring products or services from production to the hands of users, which includes various activities such as market research, understanding customer needs, developing products and services to meet customer needs, advertising, distributing products to the market, in order to meet the full demands, attract and retain customers, and achieve the set goals in business. The main objective of Marketing is to create value for customers and meet their needs through the products or services provided by the business.

According to Philip Kotler – The Father of Modern Marketing, the definition of Marketing is: “Marketing is an art to create, communicate, and deliver value and value distribution to solve the issues that target customers are facing, bringing the optimum profit for businesses.”

Initially, Marketing was mainly applied to businesses that produce consumer goods. Later on, Marketing expanded and began to be used by industrial, service, and commercial businesses. Currently, Marketing is being applied in almost every business field such as politics, culture and society, and healthcare. Marketing plays a very important role in the development process of a business.

Types of Marketing

Marketing can be divided into two main types, which are Traditional Marketing and Modern Marketing.

• Traditional Marketing: It is usually applied mainly in the distribution stage. This is pure marketing activity that works together with the market and the business’s distribution channels. This marketing method usually does not focus too much on customer value but mainly focuses on quickly consuming products and services. These activities include distributing flyers, sponsoring programs and events, telemarketing, organizing events, advertising on television platforms, and marketing via email.

• Modern Marketing: It usually focuses more on customer value. Customer behavior and needs are the most important issues for a successful marketing campaign that brings optimal profitability to the business. Modern Marketing often includes activities such as building websites, doing SEO, deploying Social Media platforms, SEM, and Video Marketing.

What is the Marketing industry?

The Marketing industry is currently one of the popular industries being trained at universities and colleges. The purpose of the Marketing industry is to provide complete and objective knowledge about Marketing, such as market research methods, customer understanding, analyzing standard user behavior, measuring campaign effectiveness, and building a complete Marketing strategy.

The role of Marketing in business development

Marketing plays a very important role in the mission of developing a business. Marketing activities help businesses to directly approach and interact with customers, create value for customers, and build a strong brand image.

7 main roles of Marketing in business development:

• Providing useful information and value to customers
• Enhancing the competitive advantage of a business
• Nurturing customer relationships
• Supporting flexible and timely customer interaction
• Helping businesses sell products
• Building a brand system
• Helping businesses further develop

Providing useful information and value to customers

Marketers are the ones who need to understand the product and services provided by the business. During the advertising process, customers will know the specific information about the products/services. This information is often things customers want to know, such as features, prices, benefits, and customer-specific promotion programs when using the products/services.

Enhancing the competitive advantage of a business

Digital Marketing reduces costs while bringing great results. Through platforms like Facebook, Instagram, websites, businesses can interact with customers, sell products, and solve customer problems quickly.

Analyzing and evaluating the effectiveness of Marketing can provide adjustments or new ideas to improve the effectiveness, optimize Marketing strategies, and enhance the competitive advantage of the business in the market.

Nurturing customer relationships

Marketing helps businesses to interact, respond, and take care of customers quickly and flexibly through platforms such as email, social media, phone, and websites. This helps customers feel that they are cared for and can effectively solve current problems.

Marketing also allows businesses to update a range of general information about products/services in a timely manner and provide value to customers through useful content such as sharing knowledge articles and instructional videos. This helps customers have a better understanding of the products/services provided by the business and attract more potential customers interested in the business.

Supporting flexible and timely customer interaction

If in the past, businesses were usually passive in interacting and exchanging with customers, now Marketing helps businesses to interact flexibly and timely with their customers. At the same time, this allows businesses to transmit messages, promotional programs, and product/service information to target customers quickly.

Helping businesses sell products

In fact, Marketing is one of the most important tools that help businesses advertise products/services, attract potential customers, and increase sales.

Marketing helps you identify the target customers through understanding the market, analyzing potential customer behavior, and identifying target customer profiles to develop the best advertising campaigns. This allows businesses to develop effective advertising campaigns, promotions, and effective sales strategies. These activities help businesses improve their ability to reach customers, attract more attention, and increase customers’ purchasing power.

Building a brand system

Marketing helps businesses establish their own brand by creating a brand presence in the minds of customers, differentiating themselves from their competitors, and providing better experiences for customers through promotions or customer care programs. Thanks to this, Marketing helps businesses increase brand awareness among customers and build trust with customers.

Helping businesses further develop

If Marketing activities are carried out correctly, they can help businesses increase sales, expand the market, position the brand, and increase loyal customers.

However, to succeed in Marketing campaigns, businesses need to clearly understand their business goals. Only when businesses understand their customers and goals can they deploy the best Marketing campaigns.

What does Marketing do?

The purpose of doing Marketing is to increase sales, develop and enhance brand awareness, gradually leading the business to success. Marketing activities include market research, product/service development, advertising, brand positioning and building, sales, evaluation, and measuring the results of Marketing campaigns. Nowadays, Marketing is an important process that businesses need to have in order to gain a competitive advantage in the market, provide value to customers, and achieve business goals.

Definition of positions in Marketing

What does Digital Marketing do?

Digital Marketing means doing Marketing on the internet platform. It focuses mainly on using technology and digital media channels such as social media, email, websites, advertising, or podcasts to reach and interact with customers in a flexible and fast way.

What does Content Marketing do?

Content Marketing usually focuses on providing valuable content to attract and retain customers. Content can take the form of text, images, or audio.

Content Marketing helps build a better relationship with customers by providing useful and in-depth information, answering questions that customers are concerned about. At the same time, it also facilitates faster transactions through valuable content.

What do Marketers do?

Marketers specialize in researching, developing, and implementing Marketing strategies to advertise the company’s products/services to customers. The work of Marketers often involves target market analysis, researching competitors, identifying target customer profiles, and developing Marketing strategies to attract more customers and contribute to increasing sales revenue.

What do Marketing employees do?

Marketing employees are usually responsible for implementing Marketing activities within the company such as advertising, managing media channels, measuring campaign effectiveness, and optimizing ongoing Marketing campaigns. The work of Marketing employees often depends on the specific field that the company is operating in, but overall, they all have a common goal of building a good brand image in the eyes of customers and contributing to increasing sales revenue.

Conclusion

Above is some information about what Marketing is for those who are not familiar with this term. If you are considering studying this field, this article is worth reading. Follow FPT Shop for more useful knowledge.