There are many different marketing strategies which organizations implement in their business operations. However, these are not used in a uniform manner. In fact, there are some differences between the strategies that are used by organizations. Some of these differences include; use of marketing tools such as printing press, radio, TV, etc., different types of marketing tools, target market analysis, planning and budgeting, quality management, brand name building, brand positioning, and customer marketing program.
Marketing concept is what makes the difference between companies and different businesses. Basically, it is a tool used to promote a product or service and it is aimed at gaining customer’s attention and loyalty. Marketing concepts also include; distribution of information about the new product or services, research and development, branding, and product promotion. Marketing concept is nothing but the way to get a product out into the market place. The various marketing activities done by organizations form the infrastructure of a successful marketing strategy. Some of the activities are; product development, market research, distribution of information about the new product or services, research and development, branding, and product promotion.
Marketing concept in product development involves coming up with an idea for a new product or a change in the existing product. Marketing research is the process of finding out about the interest of consumers, their level of satisfaction, and their purchasing behavior. Marketing concepts help organizations to understand where they are in the market, what consumers find most appealing, and how they could reach out to more consumers. Marketing research and development involves collecting information, analyzing the data gathered, formulating a strategy based on this information and the data, testing the strategy, and finally implementing it.
On the other hand, marketing concept in marketing management involves setting goals and objectives, defining methods of achieving them, establishing the sources of getting customers, designing the instruments required for the purpose, creating the campaigns to reach out to customers, developing the plans and methods to reach out to more customers, and finally in managing the entire plan and its effectiveness. Marketing management also involves planning and organizing activities to reach out to and organize the customers. In marketing management, marketing goals and objectives are set, strategies are formulated, resources are allocated, the direction of marketing activities is determined, and results are monitored. Marketing management thus forms the key function in the whole business activity.
A relatively new approach to marketing called the production concept has also gained considerable popularity. Production concept in marketing management means looking at the entire production process from start to finish. This means that instead of considering the marketing aspect as an intermediary between the sales and the customers, it should be seen as an integral part of the whole production process. Marketing, as we know it today, has only become a part of the production process since a long time ago. It is only now that most organizations view it as an important element of the entire production process.
Marketing strategies form one of the means by which businesses attract consumers. Marketing attracts consumers to buy the products, services and the brands that marketers have designed. The marketing techniques used by marketers help them to determine the target market and to establish the competitive position of their products. The strategies are then used to attract the customers for the products and services of the marketers. Therefore, marketing plays an important role in the development of businesses.