Marketing refers to actions a business undertakes to advertise the sale or purchase of a certain product, service, or asset. In recent years, The New York Times defined it as “the art of persuading people so convincingly that they lose sight of their cash”. This is perhaps the one area where all aspects of marketing and advertising come into play in order to be successful. Without knowing how to appropriately market your product or service, you have no shot at achieving success.
Marketing through the use of traditional marketing strategies such as advertisements can be effective if they are properly executed by well-defined target markets; however, they tend to have a very short shelf life due to the fact that most customers simply ignore them. Effective marketing requires a coordinated marketing approach that takes into consideration not only the product or service being offered but also the needs of the target audience. This leads to more customers satisfaction because customers feel that the company is aware of their needs and actively seeks to meet these needs by offering solutions.
For example, a new toothbrush that promotes better oral hygiene can be advertised via television, radio, print, and Internet, but if these advertisements do not engage or relate to the needs of the consumers, they will likely be ineffective. The product development process for this toothbrush was carefully thought out in order to address the concerns of the target audience. When choosing the TV spots, the marketer considered what age groups were likely to respond best. Ads that were funny, informative, had positive images that showed someone smiling were most likely to be clicked; however, adds that pined for the consumer’s attention with words like “shampoo”, “carpet clean” would not be as effective. As a result, the marketer chose to run both types of ads but with slightly different wording and a brief clip of the product being used.
Another example of marketing research results using this concept involves a marketer’s efforts to create a corporate identity for their brand. A prime example of this concept is the corporate logos that are often used to represent a corporation. An innovative advertising agency in New Zealand has taken this concept of corporate branding and applied it to the marketing aspects of their product development strategy. Through a series of marketing research studies, they have discovered that consumers respond positively when a logo is both visually striking and unique. In addition, they have found that consumers tend to associate more positive branding with a brand that uses a logo that represents a quality product and service.
Marketers utilize a variety of marketing strategies in order to increase the number of returning customers. Some of these strategies are through traditional direct marketing methods, such as distributing printed materials, postcards, coupons, leaflets, brochures, and so on. However, another way of increasing customer return-rates is through email marketing campaigns. A lot of marketers make use of email marketing in order to build new customer lists and to maintain loyal clientele. Email marketing is particularly popular with online marketers because it allows them to easily communicate with their clients at any time of the day or night.
Overall, marketing through influencing customers’ buying behaviors and providing them with quality products is one of the most important components for the success of any business. Marketers must take note of the many factors that influence consumer buying behavior and implement strategies that will meet their clients’ needs. If marketers study the way people view marketing, the way they interact with marketing tools, and the way they are affected by advertisements and promotions, they can use these findings to create new marketing concepts that will benefit their clients.