What is marketing in business?

No product or service sells itself, not in the beginning. People have to get to know them first, then convince them to buy them.

Marketing takes care of the whole process of reaching potential customers and introducing them to that product or service. It is what will make you stand out from the competition. The success or failure of a business can depend on its good management.

Every enterprise, business or company, no matter the sector, moves in the field of marketing. Even in our personal life we always try to enhance our strengths, to stand out from the rest either by our knowledge, image or personality; we want certain people to notice us and prefer what we have to offer. How to achieve this when there are so many other options available? One clue is to know those people, who are they?

Knowing who your target audience is and understanding the marketing and sales process are fundamental tools for success and we should not underestimate their importance.

Concept of marketing

There are many definitions of marketing, since its emergence as a discipline (more than 100 years ago) it has continued to evolve and its concept has expanded. Here are some definitions:

• Oxford Dictionary: "Set of techniques and studies aimed at improving the marketing of a product".

• Marketing dictionary: "Type of market research that seeks to find the causes and effects of consumer behavior".

• American Marketing Association Dictionary: "Organizational function and set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization..."

• P. Drucker: "Marketing aims to know and understand the consumer so well that the product perfectly fits his needs."

• Dictionary: "Marketing is the action or business of promoting and selling products or services, includes market research and advertising."

In short it's about thinking about the business in terms of customer needs and satisfaction, who they are and what they like, and it's about creating a demand for that product or service.

Keys to good marketing management

The world is full of products and services that sell very well and are often not of the best quality. This is due to several factors. It could be convenience, branding, or because of advertising or marketing campaigns.

Marketing, advertising and sales management are directional, aiming at very specific objectives, at the essence. It is necessary to be creative and not to stay in the trite or with the most obvious opportunities.

Some of the keys are:

• Segment your target audience.

• Have a defined budget.

• Keep an open mind.

• Analyze the market.

• Keep changing, growing.

• Adapt and follow trends.

• Take demand into account.

• Learn from feedback.

• Measure results.

Marketing subcategories

Marketing is a process that encompasses the conception of the product or service, the allocation of the price, the choice of the distribution channel to reach the customer, and then its promotion.

Among its best known subcategories are:

• Branding.

• Promotion.

• Advertising.

• Public relations and networking.

• Media relations.

• Viral marketing.

• Popular word of mouth.

Branding: Reputation is everything. This is why your brand should be focused on authenticity and transparency. It is important to avoid inconsistencies because your customer can easily obtain and share information on the Internet. Feedback and response to your services and products is fast from anywhere in the world.

A logo can be simple and perfectly represent who you are and what you offer. Logos and colors are powerful tools in brand recognition, no matter the size of the business. It is not only used on websites and cards, but also on accessories and all kinds of merchandise.

But branding goes beyond color and logo. It goes beyond the products and services provided. It is the process of developing specific associations: positive reactions to your business. A well-developed brand creates an emotional bond with your customers. It is about building trust and making people feel.

Hence the importance of having clearly formalized core values for your business, adding them to your business plan and reviewing them regularly to make sure they are respected. Through them you get to the emotions you want to transfer to the image from the beginning of your business.

More and more customers make their buying decisions thinking about how the brand makes them feel and not purely on the products and services they do.

These days there are so many options to choose from that it's much harder for consumers to notice you.

Some tips that can make a difference:

• Make sure you don't convey empty messages. What you publish should have value and transparency.

• Be consistent with your pricing.

• Don't ignore customer complaints, especially when there is a product failure.

• Maintain an open and professional business image. This way you will have loyal customers and get good references.

• Consistency of image: logo, website, business cards, flyers, catalogs and everything you use.

Professional is not synonymous with sobriety, everything has to be in line with the values you want to convey. Just make sure everything is clear and legible.

Promotion: With promotion you can target different types of consumers at the same time. You have to be creative and think of any alternative that works for you. Examples:

• Buy spaces on TV, radio for commercials.

• Create ads on platforms such as Instagram, Pinterest, Facebook, etcetera.

• Create and distribute posters, flyers.

• Using public spaces for performances.

• Renting benches, walls, bus stops, transportation.

Advertising: this is when you run an advertising campaign to draw attention to a specific group. It also refers to marketing involved in an event or public appearance, such as a program, press conference, seminar, workshop, etcetera. Public relations and networking: It is the intentional advertising of your business as a whole (name, brand, image, its values, its objectives) and getting it out to the public in a way that it is understood, recognized and appreciated.

Public relations is more about the media while networking works on an individual level, creating connections between people with common interests.

Media relations: This is a part of marketing that refers to contacting the media with the objective of getting coverage in the newspapers, or having them write an article about your business, your products and services. For example sending press releases to editors. Either in print or digital format.

Viral Marketing: Very popular these days. A method focused on getting people to share your message online. It is usually very concise. Popular platforms: Tick Tock, Facebook, Youtube, Instagram and so on.

Word of mouth: One of the most powerful methods used worldwide to attract customers. It is one of the oldest forms but still highly effective. Even if the goal of marketing is to get people to buy your product, getting people to talk about your business is a good start. It usually leads to increased sales, whether in person or digitally.