Areas of marketing

From CEOpedia | Management online

Areas of marketing are spheres in which a marketer that is explaining a presented stretega, based on knowledge and research to achieve customer needs and reach profit.

We can distinguish following main areas:

Market research

By researching, marketers have access to information on the needs, expectations of customers or companies with whom they want to cooperate in the future. Nowadays there are a lot of different techniques and methods, thanks to which you can draw the right conclusions very precisely, and thus also prepare the right business strategy.

Brand management

Involves using a good market position, tangible and intangible goods. Brand management requires cooperation of the entire staff and management staff. The marketing management strategy must take into account the diversity of the buyer's and seller's needs as well as the ambient conditions. Brand rating refers to the processes that are undertaken to gather feedback on the brand's image, experience, possessed goods and market position.

Advertising

It is an important component of the marketing structure, clearly affecting the behavior of a specific group of consumers. Advertising is a form of impersonal, paid for, in accordance with the law and morality, the form of providing market information on a rich offer. Used by enterprises, non-commercial organizations and individuals, it influences the decisions and behavior of a given group of recipients through mass media.

This applies to communication in relation to the product, service, institution and idea. The standard definition of advertising includes seven main elements: paid form of communication, the presence of an identified sponsor, distribution through the media, the presence of a specific audience for treatment, lack of personalization of distributed information, aimed action [1]

Social media

When we use the term "social media", we mean both the area of information technology that facilitates dialogue and interaction. This area of marketing is a great opportunity to expand the number of recipients. Social media allow conversations between caters all around the world without traveling and related difficulties. "It allows companies to establish a communication channel with its customers, market their products, build brand equity, and boost clientele faithfulness.

However, as it is a two-way channel, it requires effort and care to manage this communication. Dissatisfied customers can protest out loud, attainment many other customers easily and damaging the brand's image. In order to avoid the risk of damaging the brand's image rather than improving it, the company should align their social media marketing with the global marketing strategy of the company." [2]

Marketing mix

Areas of marketing are also individual elements marketing mix (4P) such as:

  • product
  • price
  • place
  • promotion-impact on recipients of the company's products, consisting in providing them with information that is to increase the knowledge about products or services and the company itself in order to create market preferences for them. Promotion is an element of marketing communication. Promotional instruments are: sales promotion (sales activation), advertisement, personal sales, public relations [3]

Examples of Areas of marketing

  • Digital Marketing: Digital marketing is the use of digital technologies to promote and market products or services. This includes mobile marketing, email marketing, search engine marketing, social media marketing, and web advertising. Digital marketing is a powerful tool that can be used to increase a company's visibility, reach more potential customers, and generate more leads.
  • Social Media Marketing: Social media marketing is the practice of leveraging social media platforms such as Facebook, Twitter, Instagram, YouTube, and LinkedIn to engage with customers, build relationships, and promote products or services. It is an effective way to reach a large and diverse audience, and it can be used to build brand awareness, create content, drive leads and conversions, and more.
  • Content Marketing: Content marketing is the creation and distribution of valuable, relevant, and consistent content to attract and retain a clearly defined audience, and ultimately drive profitable customer action. Content marketing can be used to educate, entertain, inform, influence, and engage customers. It is a great way to build relationships with customers and establish trust.
  • Search Engine Optimization: Search engine optimization (SEO) is the process of optimizing a website to increase its visibility in search engine results. SEO involves optimizing content and code, as well as creating backlinks and other strategies to increase a website's ranking in search engine algorithms. SEO is an important part of any digital marketing strategy, as it helps improve the visibility of a website and attract more potential customers.

Advantages of Areas of marketing

The advantages of areas of marketing include:

  • Targeting potential customers - Through marketing, businesses can better identify potential customers and target them with personalized messages. This helps to ensure that the right message reaches the right people, leading to a higher chance of success.
  • Increased brand recognition - Through marketing activities, businesses can increase brand recognition and awareness of their products and services. A strong marketing campaign can help to create a strong connection with customers and build brand loyalty.
  • Improved customer service - Through marketing activities, businesses can increase customer service by providing customers with more information about products and services. This can help to ensure customers have a positive experience and are more likely to return.
  • Increased sales - By utilizing various marketing techniques, businesses can increase sales and attract new customers. This can help to generate more revenue and ultimately lead to greater success.

Limitations of Areas of marketing

The limitations of areas of marketing include:

  • Limited budget: Having limited budget constraints can limit the ability to implement a marketing strategy. It is important to be realistic about what can be achieved with the resources available and not overstretch the budget.
  • Difficulty in measuring success: It is not always easy to measure the success of a marketing strategy, as there are many different metrics that need to be taken into account and results may not be seen immediately.
  • Lack of customer data: Without proper customer data, it can be difficult to craft an effective marketing strategy. Data is essential to understanding customer needs, wants and behaviours in order to create an effective plan.
  • Lack of experience: Without an experienced marketer, it can be difficult to create an effective marketing strategy. It is important to have someone who is knowledgeable in the area to understand the best way to reach the target audience and implement the strategy.
  • Competition: Marketing is a competitive field and it can be difficult to stand out from the crowd. It is essential to find unique ways to differentiate from competitors and make the strategy effective.

Other approaches related to Areas of marketing

The following are other approaches related to Areas of marketing:

  • Market Segmentation: This involves analyzing the target market and dividing it into smaller groups with similar characteristics and needs.
  • Market Research: This involves collecting and analyzing data to identify customer needs, preferences and trends.
  • Product Development: This involves creating new products or services to meet customer needs.
  • Pricing Strategy: This involves setting the right price for a product or service to make it attractive to customers.
  • Promotion and Advertising: This involves creating campaigns and promotions to attract customers and build brand awareness.
  • Distribution Channel Management: This involves managing the channels through which products and services are delivered to customers.

In summary, Areas of marketing involve various approaches such as market segmentation, market research, product development, pricing strategy, promotion and advertising, and distribution channel management. All these approaches are aimed at achieving customer needs and reaching profit.


Areas of marketing — recommended articles
Marketing advantage — Social network marketing strategy — B2B social media marketing — Marketing — Social media optimization — Market reach — Digital marketing strategy — Marketing department — Marketing innovation

References

Footnotes

  1. ↑ Frolova S.
  2. ↑ Saravanakumar M., SuganthaLakshmi T.
  3. ↑ Van Wataterschoot W, Van den Bulte C.

Author: Natalia Borowiec

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