Materi 2

Very often the success or failure of a company is a direct result of an effective or not so effective
marketing strategy. Therefore, choosing a marketing strategy that fits the company product is of
vital importance.

Deciding on your audience

The first step toward developing an appropriate marketing strategy is to know your audience.
Are they 15 to 25 year old gamers? 21 to 40 year old football fans?

Creating a Psychological Process Profile

Secondly, you should create a hypothetical psychological process a buyer of your product will
take as a result of your marketing efforts. Read more about consumer psychology here.

Connect a Type of Marketing Strategy

Based on your understanding of the target audience and the process you wish to take them
through, choose a type of marketing strategy that you believe will have the greatest positive
impact.

Assess your Efforts

With whatever data is available through your marketing methods, assess whether your
assumptions were correct and react accordingly

Materi 3

MARKETING CONCEPTS – TRADITIONAL & MODERN CONCEPTS

Marketing concepts or philosophies refer to a general thought or idea, which is used by firms to
effectively and efficiently achieve their goals through identification and satisfaction of consumer
needs and wants.

Traditional Marketing Concepts

Exchange concept – Under exchange marketing concept the exchange of a product between
buyer and seller was the central idea of marketing.

Production concept – It was believed that consumers will prefer products that are widely
available and inexpensive.  The production concept aims at achieving profit through high
production efficiency at low cost and wide scale distribution.
Product concept – This marketing concept holds the belief that consumers will prefer those
products that are high in quality, performance and are innovative. This marketing concept
involves matching of products with markets. Marketers focus on making superior products and
improving them.

Selling concept – It focuses on aggressive selling and promotion activities to push the product.
Marketers focus on selling what is made rather than making what can be sold.

Modern Marketing Concepts

Features of Modern Marketing Concepts –

 Consumer is central to all marketing activities.

 Every business enterprise has dual objectives i.e. profit maximization and customer

satisfaction.

 Identification of needs and wants and their conversion into products

 Target marketing

 Integrated marketing

Materi ke 4

The Role of a Marketing Department

The Marketing Department plays a vital role in promoting the business and mission of an
organization. It serves as the face of your company, coordinating and producing all materials
representing the business. It is the Marketing Department's job to reach out to prospects,
customers, investors and/or the community, while creating an overarching image that represents
your company in a positive light.

Depending on your company, the duties of the Marketing Department may include one or more
of the following:

Defining and managing your brand. This involves defining who you are, what you stand for,
what you say about yourself, what you do and how your company acts. This, in turn, defines the
experience you want your customers and partners to have when they interact with you.
Conducting campaign management for marketing initiatives. Marketing proactively identifies the
products and services to focus on over the course of your sales cycle, and then produces
materials and communications that get the word out.

Producing marketing and promotional materials. Your marketing department should create the
materials that describe and promote your core products and/or services. They should be kept up-
to-date as those products and services evolve.

Creating content providing search engine optimization for your website. Your website is often

the first (and possibly the only) place people go for information about you. Your marketing
department will be responsible for keeping Web content current, while also working to ensure
your site comes up quickly when someone searches for your type of business.

Monitoring and managing social media. Marketing should contribute to, manage and maintain
your social media pages. It should also manage accounts and carefully watch what’s being
posted about you online.

Producing internal communications. Your employees need to understand your company, its

values, its goals and its priorities. Marketing is often responsible for employee communications
through a newsletter and/or intranet.

Serving as media liaison. When your company is cited in the media, a member of the marketing
department often acts as spokesperson for your company, or guides executives in how to respond
to media queries.

Conducting customer and market research. Research helps you define target markets and
opportunities and helps you understand how your products and services are perceived.

Overseeing outside vendors and agencies. Marketing is typically responsible for selecting and
managing the agencies and vendors who produce marketing materials and or/provide marketing
support. These may include ad agencies, print vendors, PR agencies or specialists, Web
providers, etc