Tag Archives: business discipline

Marketing; Defination And Types

Marketing is a business discipline that focused on the practical application of different techniques that a business or an organization uses in its marketing activities. Due to globalization and increase of new competitors on the market, marketing managers are required to be more responsible to influence the customers and retain them. At first, managers of this industry are supposed to do analyze the market by studying various environment factors that affects their products and services. They should also help in product promotion so as to create awareness to the customers. Marketing should involve company analysis, customer analysis and customer analysis.  Promotion mix comprises of five elements i.e. sales promotion, personal selling, public relations and direct marketing.

By properly analyzing what your customer need and how well you satisfy them, you will not only get profit but you will also retain your customers.         This will also help in market segmentation demographically, psychologically, psychographic or geographically and wide range of customers will be reached. Market segmentation is a process of dividing a market into distinct subsets of consumes with common needs or characteristics.

It is of paramount importance for the industry to conduct SWOT analysis which helps in improved organizational performance. This process helps marketing managers to indentify a set of alternatives strategies that would be most appropriate for their situations. SWOT analysis will assume that organization will achieve success by maximizing on strengths and opportunities and minimize on weakness and threats. It is also necessary for the industry to conduct market research to obtain information required to perform accurate marketing analysis, this is done through various techniques like qualitative marketing research and quantitative marketing research.(Keller,2003)