Author Topic: Perspectives on marketing and the marketing mix  (Read 618 times)

sally crocker

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Perspectives on marketing and the marketing mix
« on: October 11, 2016, 05:57:49 pm »
What is marketing?

Simply put, marketing is the way a company or an organization producing goods or services communicates with the public, especially consumers.

All companies and organizations market in some way, because if they do not, we wouldn't know they exist.

Marketing is a broad category for this type of communication, and under the umbrella of "Marketing," some subcategories fall.

The key subcategories of marketing are public relations, sales, and advertising.

It is important to understand that each of these subcategories helps with marketing as a whole, and each subcategory has unique characteristics that impact the way the company or organization communicates with the audience.

Public relations is a one-sided and indirect form of communication.

The company or organization provides information that it feels is important and valuable to the community and consumers and to various media outlets, such as magazines, newspapers, and television stations, in an attempt to have the media run a story or share that information.

Companies and organizations do not pay the media outlets to run the stories, and they have no control over whether or not a story will run; all they can do is be persuasive and provide information.

Sales is a two-sided form of communication as the salesperson and the consumer interact directly.

This allows for the salesperson to market directly to the consumer, share important information, answer questions, negotiate, and be persuasive while speaking with the consumer.

While sales can be a very effective marketing tool, it has a very short reach, which means it can only inform and communicate with a small number of consumers due to the one-on-one delivery format.

Advertising is similar to public relations in that it allows a company or an organization to reach out and communicate with a large number of people at once.

Advertising also includes the media, but unlike public relations, advertising is paid for by the company or organization.

Companies can choose where their ads will run, who will see the ads, how often the ads will run, and exactly what the ads will look like.

This differs from the uncertainty of public relations as the company or organization has 100% control over the message and advertising has a cost.

So ... what then is a marketing plan?

A marketing plan is a document that companies and organizations use to manage their marketing efforts.

The first section of a marketing plan outlines the key information about the company, its business, its products or services, and the type of industry the company is in. This information would remain the same for all marketing plans that the company or organization develops.

The second section of the marketing plan explains the goals of the marketing plan.

All goals should say what the marketing plan will accomplish, how much of a change will be made, and how long it will take.

These goals can only be related to things that can be changed through marketing, such as increasing sales or launching a new product.

If a goal cannot be met through marketing, such as opening new locations of a store, it is not part of the marketing plan and this type of a goal would be called a “corporate” or “organizational” goal.

The only goals included in a marketing plan are marketing goals.

Once the objective or goal of the marketing plan is determined, the marketing team needs to figure out who they are marketing to so that they can research the target market and the characteristics of those consumers.

They also research the kind of media the target uses: Does the target market read certain magazines? Watch certain television shows?

Finally, the marketing team figures out how to communicate with the target market and develops the advertisements, public relations, and sales techniques that will be used.

The last stage of the marketing plan is review and evaluation. In this stage, the marketing team goes back and looks over what they have developed; what research they have conducted; what marketing elements they have used, such as ads and press releases; and the team then evaluates how the plan worked. They use this information while developing the next marketing plan.

One interesting fact about marketing plans is that many companies have multiple marketing plans running at one time. If you look at the advertisements for a large fast food restaurant such as McDonald's, you might see a TV ad that seems to target busy mom's, a web ad targeting teenagers, and a billboard targeting hungry commuters. Each of these ads has a different goal or objective and a different target market. The ads were developed using a different marketing plan.