The marketing or marketing consists of a set of principles and practices that are carried out with the aim of increasing trade, especially demand. The concept also refers to the study of the procedures and resources that pursue that purpose.
Marketing techniques and methodologies try to provide the necessary tools to conquer a market. For that they must attend to the issues known as the Four P: Product, Price, Place (referred to distribution) and Advertising (or promotion).
Also Read: What is RPI?
Marketing aims to position a product or brand in the minds of consumers. For that, part of the client’s needs to design, execute, and control the marketing activities of a company.
The marketing campaigns are an investment in the company’s relationship with its customers, suppliers, and even their employees. They can also include advertisements in the media. Therefore, marketing actions consider a short or long-term point of view of profitability.
The specialists affirm that the marketing can have different orientations : to the market (to adapt the needs of a product to the requirements of the consumer), to the sales (its intention is to increase the participation of the company in the market) or to the product (in the cases where the company already monopolizes the market, and its focus is only on the improvement of the production process).
According to the American Marketing Association (AMA), it is a way of organizing a set of actions and processes when creating a product “to create, communicate and deliver value to customers, and to manage relationships” and its purpose It is to benefit the organization by satisfying customers.
It says that marketing is an administrative process because a group of people intervenes, with their concerns and needs and because they need a certain amount of elements such as organization, implementation, and control, for the development of activities.
The only function that needs to fulfill is to achieve the goals that the company sets in regards to sales and distribution so that it remains in force. That is why it is so important not only to have a knowledge of the market but to know what things the company can develop that may interest customers.