In the modern business world, marketing is the act of consciously promoting sales of products and/or services to a targeted or specific target market; possibly including an extended selection of a potential target consumer base; choice of a specific product or services to advertise; and use of various techniques to influence the buying behavior of the target audience. The marketing activities of one organization may be influenced by another organization that is selling similar products or services. Marketing influences the buying decisions of customers, which in turn can affect the profitability of the organizations.
Marketing is defined as the process by which organizations create and maintain a relationship with their customers and present those needs and interests before the customers. Thus, marketing involves defining the concepts and ideas of the products or services and providing consumers with information about them. This enables the organizations to develop targeted communication with customers and shape their buying decisions. The key concept behind organized marketing is customer satisfaction; in which, the goals of the marketing strategy is to satisfy customer needs, expectations, and preferences.
Marketing through advertising is one of the most common marketing concepts. It involves the production of a catalog, newspaper ads, fliers, booklets, or any other printed medium to inform people about a product or service. Advertising involves using creative imagery, voice-overs, and graphics to attract attention to a product or service. Sales promotion or marketing is the next level of marketing concept in the hands of an experienced sales person. Marketing through sales promotion consists of creating a catalog, sending it to a selected selling customer, and the third level is the follow-up selling; after the catalog and advertisement are sold, the next step is to establish a long-term relationship with the customer.
Another type of marketing is the social marketing concept, also known as non-traditional marketing management, non-traditional marketing strategies, or non-conventional marketing systems. It focuses on creating a relationship with the target audience rather than a direct selling method. The objective of this marketing concept is to provide information about products and services to the target audience indirectly through the societal media such as television, radio, and print. For example, by creating a television program, radio show, or feature article that provides information about a certain product or service, you can indirectly market your company by creating an outlet for people who would be interested in purchasing your products or services. Social marketing concepts were also used during World War II in order to raise awareness about the benefits of the American Armed Forces.
Many marketers fail to grasp the concept of marketing myopia. This myopia is when marketers focus on only the aspect of the marketing concept that they are familiar with, ignoring all others. This myopia is dangerous because it can lead to ineffective sales because only a part of the marketing concept was utilized. In addition, marketers failing to properly utilize all marketing methods result in a compromise of the overall product concept, and a compromise does not lead to successful sales. The best way to overcome this marketing myopia is to build a comprehensive marketing plan that incorporates the complete aspects of effective marketing.
Another error made by most marketers is confusing consumer behavior with consumer psychology. When marketing myopia is at its worst, marketers attempt to use marketing techniques that are counter-productive because they actually contradict the goals that the company is trying to achieve. For example, by selling a high price discount to consumers when the company is actually paying a lot in overhead expenses, the company is actually performing marketing management errors. The same thing can be said for selling products to consumers who are already unhappy with their purchases. By identifying these types of marketing myopia, successful selling can be accomplished without compromising the overall integrity of the product concept or end result.