ASSIGNMENT 17: MARKETING

Ekateryna Calderón Hernández                                                                                                          NUA: 391880

Task 1 Marketing

What is the definition of Marketing?

Marketing refers to any actions a company takes to attract an audience to the company's product or services through high-quality messaging.

The process of identifying, anticipating (predicting) and satisfying customer needs profitably

• ·         Identifying – finding out by using marketing research about current products, the possibility of new products, and current markets and new markets
• ·         Anticipating (predicting) – analysing the data collected and determine what might happen in these markets and how the products might be suited or changed, adapted or updated
• ·         Satisfying customer needs – making sure the person, business or government are happy with what they are buying, will not complain and will be happy to buy again
• ·         Profitably – adding value to the product so when sold, the price of the product is greater than cost of production.

 

What is understood as Market in business?

Your audience and potential customers. is defined as the sum total of all the buyers and sellers in the area or region under consideration and the place where thet can meet to exchange goods or services

 

What is the purpose of Marketing?

The purpose of marketing is to generate revenue for a brand, company, or organization by capturing the attention of the target market. It aims to establish the product value, strengthen brand loyalty, and ultimately increase sales.

Marketing professionals and teams achieve this through the execution of strategic digital activities that drive traffic, qualified leads, and sales, in direct collaboration with their sales team.

Also to research and analyze your consumers all the time, conducting focus groups, sending out surveys, studying online shopping habits, and asking one underlying question: "Where, when, and how does our consumer want to communicate with our business?"

 

Why is Marketing important?

Marketing is really important because once you've developed a product or service and you've done the branding and packaging and it's all ready to go marketing is what you need to do to get in front of your potential customer

It's a very big investment because You have be everywhere your customer is to maximize your sales and customer base and expand your business

If people don't know your products exist or if they don't know the things about your product that makes it great then they're not going to want to form a relationship with the company or won't want to purchase from you.

 

What are the different types of Marketing? Define them in detail.

·         Social Media Marketing:  is the use of social media platforms to connect with your audience to build your brand, increase sales, and drive website traffic. In apps like Facebook, Twitter and newer, emerging platforms like TikTok.

·         Email Marketing: Email marketing is sending commercial emails to a list of contacts who have given their express permission to receive email communications from you.

·         Relationship marketing: This type of marketing is basically focused on customer building. Enhancing existing relationships with customers and improving customer loyalty.

·         Word of mouth: It totally relies on what impression you leave on people. It is traditionally the most important type of marketing strategy. 

·         Cause marketing: Cause marketing links the services and products of a company to a social cause or issue.

·         Content Marketing: Content marketing refers to any form of marketing that involves the creation, publication, and distribution of free content online.

·         Search Engine Optimization: is the process of optimizing a website for visibility on search engines. The goal of employing this method is to create awareness and get potential customers to find and visit one’s website.

·         Influencer Marketing: A company looking to promote its products or services reach out to an influencer in their industry or niche and find a mutually beneficial way to promote their offering to the influencer’s vast audience.

·         Brand Marketing:Brand marketing is a marketing move by brands to shape its public perception and to connect with its target audience.

·         Affiliate Marketing: An affiliate helps promote the product of a brand on whatever online channel they see fit. is an effective method as the publisher will do everything possible to market a brand’s products to consumers for the commission they stand to get.

·         Promotional Marketing: is a business marketing strategy designed to stimulate a customer to take action towards a buying decision.

• ·         Contests
• ·         Coupons or discount
• ·         Sampling

·         Print Media: Getting published in print media, such as newspapers, magazines, or trade publications, gives you both visibility and credibility by establishing you as an expert on your topic

·         Advertisements: TV and radio advertising are both now available on a local scale for smaller businesses. 

·         Promotional Materials: You can have a variety of cost-effective promotional materials to leave with prospects to make it easier to stay top-of-mind and for them to find your contact info.

• ·         Business card
• ·         Postcards, pamphlets, leaflets
• ·         Brochures
• ·         Branded products, tools, or items: like calendars or pens, 

·         Community Involvement: Community involvement is a good visibility tactic for a business and it benefits the community as well.

 

What are the aspects a marketer needs to consider nowadays?

In overall being tech savvy, with social media and digital marketing is essential that a marketer knows how to create interesting and persuasive content and not just banners, slide decks or memes but videos as well and make sure they're available in many channels like emails, blogs, ebooks, etc. also to know the importance that paid search engines provide and how to track and analyze data.

 

What are the differences between Marketing in the past and Marketing in the 21st century?

It's completely evolved and changed, before if a company was having financial problems the first department from where they would cut costs were the training and marketing budget whereas now days businesses recognize the value of marketing because without it there aren't many sales because people don't know or are aware about their products.

10 years ago marketing used to be about television and radio adverts and printed press in newspapers magazines or banners and outdoor advertising but now we've got digital marketing and social media, viral marketing, peer to peer marketing, ond on Instagram you influencers can boost a company’s revenue also paid search engine marketing and email marketing like spam.