Do you know what your customers want? Do you think customers trust your Products? When was the last time a customer shared their opinion about your Product or service? Has your customer praised or complained about the Product? How can you be sure that your business will succeed?
The answer to all these questions lies in Marketing.
Marketing is a tool to create and maintain demand, reputation, credibility, competition, and otherwise, your business will fail due to declining sales.
marketing is the process of gaining potential customers or customers interested in the company's Products and Services.
The important word here is a process.
The marketing process involves researching, promoting, selling and distributing Products and Services.
This requires studying the market and customer behaviour and analysing the results to attract, obtain and retain customers by meeting their needs and wants.
Marketing is an integral part of every business.
For this reason, IBS continue to address the issue of the marketing plan and its importance in business.
THE MAIN ELEMENTS OF MARKETING
Four P Marketing (4P) is a simple formula for identifying and working with essential components of a marketing strategy.
- Product
Product is the key to all marketing activities. In this regard, the Product is what the company offers to its customers to meet their needs.
The best thing is to choose a Product that meets both the needs and motivation of customers and at the same time is beneficial for them.
- Place
Location in marketing can be an online store to several stores in different cities and countries.
The goal is to distribute the Product and make the Products and Services available to all customers and thus provide a platform for the customer shopping experience.
Some companies offer their Products locally, nationally and even internationally.
- Price
Pricing is one of the most important elements in marketing.
This factor affects other factors, including:
- Profit Margin
- The target market in which we intend to introduce ourselves. Luxury market or mass market?
- Company financial goals
- Pricing against competitors and possible alternatives
- Trends
Price increases to create a better Product quality concept
- Promotion
Promotion refers to all marketing relationships and activities that are done to promote the benefits and features of a Product to the market.
In this way, we can increase the sales process.
Promotion is the information that a company provides to its customers to attract their attention.
Promotion usually serves two purposes:
- Generate potential customers or persuade them to buy real.
- Some promotion campaigns are done through the media, holding exhibitions, and so on
MARKETING AND ITS IMPORTANCE TO BUSINESS
There are many important things marketing can do for different business strategy sectors. That is why many business establishments adopt many marketing strategies. Give yourself time to know the importance of marketing to your business.
- Marketing is an effective way to attract customers.
Customer attraction is important for career success. In this case, how the customer talks and shares in the discussion are much more important than imposing an offer on them. Providing Product-related information can help interact with and engage the customer. This is possible by creating new content. You need to tell the customer something he does not know; Your content should be interesting and the customer should understand that you value his time.
Shows the importance of marketing in engaging the audience with businesses. As you know, the more customers a business engages, the higher its sales will be. So, marketing will increase the sales of a business by engaging the audience.
- Marketing helps build and maintain a company's reputation.
The growth and longevity of a business are positively related to its reputation. So, it would be fair to say that "your reputation determines the value of your brand". This shows the importance of marketing to create brand equity for the company. A business gets credibility when it can effectively meet the expectations of its customers. The customer should be proud of the connection to your Product and this shows the social responsibility of your job. Professional marketers use communication strategies, branding, public relations and CSR to ensure the credibility of a business.
- Effective marketing helps build a relationship between a business and its customers.
Businesses need to be able to build relationships with their customers based on honesty, trust and understanding. How can a job make such a constructive connection?
In answer to the above question, it should be said that marketing research should first be based on demographics, psychology and consumer behaviour. Segmentation helps your business meet the needs of your customers and gain their trust.
Your team needs to know when is the right time to deliver a Product. This can increase customer loyalty. Having this group of customers (loyal customers) assures you that your Product will be purchased more than once. So, it can be said that trust and understanding between businesses and their customers make business activities more Productive. With the right marketing for your Product and business, you can gain loyal customers.
- Marketing is a communication channel to inform customers.
Marketing informs your customers about the Products and Services you can offer them.
Through marketing, customers become familiar with the value of Products, their use, and other things that are beneficial to customers. This is effective in creating brand awareness and highlighting your business. Note that there is tough competition in the market and you need to be able to be a constant voice to convince your customers. Proper marketing is also important in constantly delivering your voice to your audience.
For example, discounts and other competitive tricks are a marketing ploy through which you can make your brand voice heard. So, it can be said that through communication and marketing you can become a leader in your field. Being a leader in an industry means being superior to competitors.
- Marketing helps increase sales.
Marketing uses a variety of methods to promote your Product or service. You increase your chances of selling by advertising your Product or service.
Therefore, you must provide the best quality so that the people who bought your Product or service are satisfied after using your Products/Services. If you are satisfied, your buyers will become ambassadors of your brand and Products, which in Increasing your sales will help you a lot. Therefore, quality maintenance can be considered in completing marketing efforts.
- Marketing helps you build insight into your business.
Every marketer knows the need to set a goal to find the right audience. Of course, you also have to prepare the right content to share with such an audience. Your marketing strategy can help you create what kind of audience your business message will convince.
So, at this point, you need to test different messages to see what works best for your audience.
When you try different types of messaging on your target audience, you will find a solid foundation for your marketing efforts. Ultimately, this will act as a benchmark in your work and provide the insight needed to avoid speculation. So, it also shows the importance of marketing in creating insights in the business.
- Marketing helps your business stay connected
Every marketer understands the need to stop potential customers from talking about other Products (competing Products), but remember not to make this a definite marketing mistake. Many businesses, because of the lack of customer complaints about their Products, assume that their brand is always the customer's favourite. This is the wrong way of thinking, but you should always try to keep the customer's mind at the top. Every relationship must be maintained, and marketing helps retain your business customers by creating effective communication. Remember, before focusing on gaining new customers, focus on meeting the need to retain existing customers.
- Marketing provides revenue generation options.
When you start a business, there are few options for making money and there are many limitations. When your marketing strategies increase your customers and revenue opportunities, other options come to mind. Having more options is the equivalent of having a complete war chest. It can be said that more options give you the courage to penetrate new markets. You find this freedom to let go of customers who may be annoying. Without marketing, you have to pay attention to the unreasonable demands of some customers and even accept their unfavourable payment terms. So, it can be said that marketing is important in determining the target audience or persona.
- Marketing helps the management team make informed decisions
In any business, there are problems such as what, when, for whom and to what extent it will be produced. So, a complex and sometimes tedious process determines the survival of your business. As a result, businesses need a marketing and analysis mechanism to make many of their decisions. The question may be, why should we trust marketing mechanisms? The answer is, because these mechanisms act as a reliable link between your business and your audience, cultivate their minds, provide the necessary training, and ultimately persuade your customers to buy. So why do you think marketing is important in overcoming your business competition?
Your competitor uses a marketing strategy (at least some of your key competitors benefit from these strategies). So perhaps one way to gain a competitive advantage over your competitor/competitors is through aggressive marketing. Remember, you do not have to be negative and sluggish when marketing to your competitors. Simply research what your target market is and then find ways to offer better Products or Services. If you offer a Product or service that is new to the market, you need to be aggressive and strategic. Marketing is important when you have a marketing strategy and decide on the future of your brand based on your strategy.
HOW DOES IBS MARKETING STRATEGY LEAD TO SUCCESS?
Every successful business has a story of its marketing strategy. It is the marketing strategy that boosts the success of the business. with IBS Marketing strategy may include promotions and advertising. It also deals with media relations. WE can promote a certain brand, Product, and people.
Even though you provide quality goods and Services, it can be useless when people do not know about it. IBS marketing team helps you to boost your business by giving information to consumers. When people are fully aware of your Product, it will help in increasing sales. Thus, it means success to the business.
Also, another benefit of the IBS marketing strategy is by building a good image for the company. When the company has maintained its reputation and pleasant image to the public, consumers’ trust will increase. This can lead to some companies or individuals investing in them.