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Marketing is the process of popularizing a product in the potential market to increase overall sales of the product and the services offered by a company. There are several benefits of marketing that companies gain when done efficiently.
These benefits include reputation enhancement, popularity, trustability, growth in sales, better customer need understanding and improvement in the company culture.
The function of marketing in a company plays a crucial role in market positioning and value addition of the company’s status. The increase in the popularity of the products and the company’s services help it gain more demand and access to newer customers. Marketing is a mixture of its activities to promote its product and services. Marketing is a part of the process of a company wherein it practices various processes to increase the popularity of the product sold by them. A marketing plan is a planned strategic roadmap that businesses use to plan, organize, execute, and analyze their marketing strategies. There are various factors included in marketing which are advertising and selling.
There are several departments in an organization that the marketing department is supposed to collaborate with to develop the company’s best results. These departments include the human resource department, operations department, production department etc. For helping the company reach newer heights and attract a higher number of potential customers, the marketing department is responsible for analyzing specific points like:
The marketing department has several roles and responsibilities that they need to fulfill from point to time. Some of the prime tasks of the marketing department are the segmentation of the marketing, strategizing the market according to the demands and maintaining the market information system.
All those mentioned above are the main tasks of the marketing department, and these are precisely the concepts taught to the students to become potential marketers in the future. Another important task that the organization’s marketing department is supposed to perform is the marketing mix.
What do you mean by Market research?
Market research, as discussed earlier, includes a deep study of the market and the customers. There are various types of customers that exist in the market. The marketers are supposed to research and study the potential customers of the company and the ones who can actually help the company gain better profits. The company solely needs to determine the best marketing plan that can potentially marketing assignment help the company effectively smear their plan.
Explain marketing mix.
Marketing mix: The marketing mix refers to the cluster of actions that a company considers to promote its product effectively and amongst the potential audience. The marketing mix is applied by the companies to increase their overall performance and sales. The marketing mix involves mainly includes seven elements that are interconnected and collectively impact the market conditions of the company. The marketing mix is considered to be a very complex process and requires a lot of research and brainstorming. The different elements of the marketing mix include the people, product, place, price, promotion, physical evidence, and the process used to execute the plan. The marketing mix helps the marketers create a blueprint of the upcoming tasks and the organization’s actions to market its products effectively.
What is market analysis?
The market analysis of an organization is concerned with the study of the market. Various trends in the market keep upgrading in market. Marketers are supposed to analyze these trends and try to curate their products and services in the same trends. The market analysis includes studying and researching the strengths, weaknesses, opportunities, and threats of the companies that exist in the market and the market. Other parts of the market analysis include the market opportunities, market trends, market size and the profitability ratio in the market.
Why do the companies need marketing?
There exist several types of companies in the market. Some are easily able to attract customers with the help of their offerings and the quality of the product or the service. There are also some companies that need to create a demand for themselves and create better awareness of their products and services. This is precisely where marketing plays the best role. Companies need marketing as marketing helps them create a plan to attract more customers and intrigue more customers to buy their products or services. Different companies market with different aims like launching a new product, popularizing pre-existing products, attracting customers in the same sales and discounts etc.
What all career opportunities are there after completion of marketing?
The students pursuing marketing as their prime of education are taught various techniques, theories, and concepts that can later help them develop better marketing plans for organizations; there are ample career opportunities for the students studying marketing. These include the marketing manager, market analyst, digital marketer, market, production manager, media planner, content writer, copywriter etc. There is a huge demand in markets worldwide, and hence the students need to learn and attend all the classes to accelerate their knowledge of the subject very strictly.
The market is not always the same, and hence the marketing managers shall be trained well to work in dynamic working environments to work in all kinds of environments. The universities try to prepare the students with all kinds of theories and concepts; hence, it assigns marketing assignments and marketing homework to analyze their learnings and rectify their knowledge.
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