What is marketing?

Marketing refers to any actions a company takes to attract an audience to the

company's product or services through high-quality messaging. Marketing aims to
deliver standalone value for prospects and consumers through content, with the
long-term goal of demonstrating product value, strengthening brand loyalty, and
ultimately increasing sales.

Types of marketing

a. Social Marketing

Social marketing is the application of commercial marketing principles to achieve

a social good. The main goal of social marketing is not to make financial gains, but
to bring about behavioural change for societal benefit. It includes promoting the
use of seatbelts while driving, promoting regular health checkups, persuading
people to get their children vaccinated, asking people to give up tobacco use, etc

b. Service Marketing

Services are intangible economic activities that fulfill certain needs of a customer.
They cannot be seen or touched, but only experienced.

c. Green Marketing

Green marketing is the marketing of products in an environmental friendly way. It

combines the satisfaction of consumer’s wants and needs with the conservation and
protection of the natural environment.Consumer’s world-wide are gaining
awareness about environmental issues and are beginning to appreciate
sustainability efforts of organizations. Thus the market for eco-friendly products
and services are on the rise.

d. Holistic Marketing

In the modern marketing world, organizations are looking beyond the traditional
marketing outlook and are recognizing the need to consider marketing as a
comprehensive process, a vital component of the broader economy and society.
Holistic marketing considers the whole business system while developing a
marketing strategy. The emphasis is not only on the products and services provided
but also on the people who are involved in creating and marketing them. Each
component of the marketing strategy is designed as a part of an overall unified
strategy.

e. Direct Marketing

Direct marketing is the method of selling goods and services directly to the
customers rather than through retailers. It is basically about building loyalty in
existing customers and prospecting new ones. Direct marketing is superior to other
forms of mass marketing as direct marketing allows the firm to reach particular
target markets.

Marketing is made up of four elements: Product

Place

Promotion

Price

The elements must be used in a cohesive plan to effectively target the consumer.

- Product is goods or services that are sold.

- Place is where goods or services are available.

- Price is the cost to the buyer of goods or service.

- Promotion is informing customers about products and persuading them to buy

them.

The benefits of marketing:

- Describe your product or service to potential buyers using a variety of techniques.

- Establish your brand and any philosophy or values associated with it.

- Explain what needs are being met with your product.

- Develop relationships with possible partners.

- Communicate regularly with key stakeholders.

- Explain to potential buyers and partners how to purchase your product/ service.

- Describe how your product/ service is different than others on the market and
who the ideal audience is for your products.

- Advertise your products/ service to different and various audiences.

- Develop pricing strategies for individual buyers or market segments.