Marketing (definition, functions and benefits)

  • Jul 26, 2021
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The commercialization originated due to the need that the human being had to exchange all the surplus of his own production for other products, merchandise, goods or services, in order to complete their needs to survive and have wellness.

People do not have that much capacity to be able to produce everything we need to be able to support ourselves, that is why that man finds himself in the need to carry out exchanges in order to have all the necessary goods to subsist.

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This means that the exchange is fundamental for the biological support of the human being, it is not a question of a question of natural origin, but rather of a social product and of the social relations established for this purpose.

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In this article you will find:

Basic principles of marketing

These basic principles are four and are based on the integration of the market, therefore, so that a commercial strategy has favorable results, these four elements have to be used adequately.

For blush professionals and business owners, it is challenging to determine the method that is the most appropriate in each of the areas and in turn be able to integrate them in a correct. Each of these important principles will be detailed below:

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Product

Each product sold could be a physical item such as food delivery or an intangible service such as cleaning. When creating a new product, it is necessary to take into account certain factors such as the name, the types of use, where it will be packaged and the safety it has when used.

In the same way, it is important to establish in what way the product can be so attractive to the market and how much it should satisfy the needs of a specific group of people, whether they are housewives, students, professionals or business owners, among others.

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Price

The price of the product should be fixed, since if it is too high, potential buyers may be estranged and if it is too high low, it could be a difficulty to make a profit, that is why you should first investigate what the prices of the competence.

Some common pricing models contain cost heat with an added benefit, where a fixed percentage is included in the price of production and the cost based on the value of the product, where the cost is established depending on the value that consumers perceive of the product.

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Place

It refers to the channels that will be used for distribution, the place where the product will be sold and the way it will be delivered to the market. If the home is the headquarters of the business, the market will probably be the Internet where shipments will surely be made directly to the consumer.

For larger businesses, such as consumer goods manufacturers, products can be sold to wholesalers for later distribution to retail businesses.

Promotion

To promote a product or service, the customer must be made aware of its existence. Advertising through websites and the media is the most widely used form of promotion.

Promotion serves a variety of purposes, such as enhancing the name of an image or brand, gain favorable market share and also to introduce a new product in the market. It is possible that this method influences the desire or need to want to have the product, therefore leading to increased sales.

Marketing levels

Within this system, two levels can be identified that are characterized due to their scope, these are:

Micro-marketing

They are the activities carried out by a company in order to satisfy the needs of the customers and in turn establishes the fluid exchange of goods and services between the customer and the product.

It is a type of marketing that can be imparted in for-profit or non-profit companies and profits are the fundamental objective of the same. Clients may belong to other collective business associations or they may also be individuals.

Macro-marketing

It refers to the process that facilitates the demand and supply of both consumers and producers, where the results are manifested through the internal market of a certain society, in the same way, it has a similarity between the product and the consumption.

Marketing functions

The functions of this system are performed by specialists, producers and consumers. Within its execution, it must finance, take risks, classify, obtain market information, store, transport and sell, therefore it is an exchange of buying and selling of products and services. Among the most outstanding functions are:

Sale

It focuses on the promotion of products in order to recover all the possible investment to achieve the desired profits.

Purchase

It refers to the search and evaluation of the goods and services that clients choose to acquire benefits.

Transport

It is about the transfer of the goods and services that are needed to promote the purchase or sale of the same.

Financing

It provides the cash and credit that the company needs to be able to operate.

Marketing benefits

Businesses that efficiently serve consumers who search frequently can be assured that they have earned a customer who will come back for more. Most small business owners seek the service of visual merchandising professionals to decorate display cases to make them much more attractive to customers.

However, marketing is not just about placing inventory throughout the business, nor is it about organizing where each product should go. To be much more effective, it must be taken into account:

  • Replenish inventory faster.
  • Keep consumers satisfied.
  • Make more sales.
  • Earn greater loyalty.
  • Attract buyers who spend more time in the business.
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