Marketing Basics

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. A market is an arrangement between a seller and a buyer in which:

  • The seller agrees to supply the goods or the service.
  • The buyer agrees to pay the price.

Defined this way, the market is not necessarily a geographical location. Products and services are purchased over the phone, through mail and electronic mail, as well as through the online.  For any organisation, marketing makes the economy strong and stable.  The lesser the stress on the marketing function, the weaker will be the economy. Marketing is complex mechanism involving many people in one form or the other. The major marketing functions are buying, selling, financing, transport, warehousing, risk bearing and standardization, etc. In each such function different activities are performed by a large number of individuals and bodies.

Marketing strategy is the comprehensive plan formulated particularly for achieving the marketing objectives of the organization. It provides a blueprint for attaining these marketing objectives. It is the building block of a marketing plan. It is designed after detailed marketing research. A marketing strategy helps an organization to concentrate it scarce resources on the best possible opportunities so as to increase the sales.

Importance of Marketing Strategy

  • Marketing strategy provides an organization an edge over it’s competitors.
  • Strategy helps in developing goods and services with best profit making potential.
  • Marketing strategy helps in discovering the areas affected by organizational growth and thereby helps in creating an organizational plan to cater to the customer needs.
  • It helps in fixing the right price for organization’s goods and services based on information collected by market research.
  • Strategy ensures effective departmental co-ordination.
  • It helps an organization to make optimum utilization of its resources so as to provide a sales message to its target market.
  • A marketing strategy helps to fix the advertising budget in advance, and it also develops a method which determines the scope of the plan, i.e., it determines the revenue generated by the advertising plan.

Marketing is not just one single strategy, but rather a combination of many different techniques and tactics. Below listed  are  some essential marketing strategies that are popular

Marketing Plan: Discover what a marketing plan is, why you need to design one, and the keys to creating a strong plan. Without a marketing plan, a company or brand can’t reach its goals.

Digital Marketing: Digital marketing is the discipline of marketing which focuses on developing a strategy solely within the digital environment.

Direct Marketing: Direct marketing is a type of campaign based on direct, two-way communication that seeks to trigger a result from a specific audience.

Email Marketing: Email Marketing is one of the most profitable and effective techniques in terms of return. Naturally, it consists of sending emails to your audience, but make sure to define your segments well in order to be effective.

Mobile Marketing: Mobile Marketing is a broad concept which brings together all marketing campaigns and actions focused exclusively on mobile platforms and applications (i.e. smartphones and tablets).

Viral Marketing: Having something go viral is every company’s dream. Viral Marketing spreads from one person to the next and is capable of going incredibly far incredibly fast.

Performance Marketing: Performance Marketing is a methodology which applies various marketing methods and techniques and guarantees advertisers that they only have to pay for achieved results.

Inbound Marketing: This methodology focuses on creating valuable content to attract qualified traffic and work towards the final sale.

 

 

Effective Communication

Communication is the process of sending and receiving messages through verbal or nonverbal means, including speech, or oral communication; writing and graphical representations (such as info graphics, maps, and charts); and signs, signals, and behavior. More simply, communication is said to be “the creation and exchange of meaning.”.  Communication is a two-way progression that empowers you to exchange your thoughts, notions, and opinions with each other. Communication has now become overbearing to flourish in the world of business.

We have already stepped into a modern world! Haven’t we? The excessive exposure to the use of gadgets and increasing knowledge because of that makes us more sensitive today. We are always worried about our image in society and on social media. And, when we are concerned, it is bound to create sensitivity around the way we behave and communicate in the larger groups, our office, in our neighborhood, or on social media. And as we are humans, we get impacted by what others do and how they react.  Social dynamics bring together the ideas from people who would want to influence the changes and thus communication is the act of conveying your thoughts to others through the use of mutually understood signs which will influence their behavior.

Social dynamics such as seminars, interviews and even conversations during networking call for excellent communication skills. One person can be distinguished from another with the development of different skills which can influence people around them and one of utmost importance skill that is the influence are the Communication Skills. It is the sole medium through which people share their ideas, feelings, knowledge, and thoughts with others. If you have effective communication skills, you will be able to present yourself and your knowledge with everyone confidently and be able to stand out from the crowd.

Someone has truly said that if you want to be a good communicator, learn how to be a good listener. One with better listening ability master’s communication skills. Listening is as important as speaking and is the key to developing good communication skills.  Communication can be verbal, visual, or written. To ensure that you maintain the social dynamics of the society, as an individual, you need to be a good communicator. Here‘s what you can do to improve your communication which can create a positive impact on Social Dynamics around you:

  1. Always know what type of communication you are doing and where. Is it a written, oral, social, etc.? Is it happening between two people or a larger group?
  2. Be confident and have the courage to speak what you think. But that does not mean that you speak without thinking. Always take some time to think and then react to a situation that might be as small as a casual conversation with people in a group.
  3. If you are getting prepared to speak in public or make a presentation, do the practice. It is very well said that “Practice makes the man perfect.” In case you are speaking for the first time, remember that new skills take time to shape up, but every time you use your communication skills, you prepare yourself for opportunities and future consoles.
  4. When you are speaking or communicating, make sure that you have eye contact with others, and you use gestures to express yourself. Gestures are a great way to communicate a positive body language, make optimal use of them.
  5. To create an impact on what you want to present, have the right attitude and behaviour in your communication. When the qualities as honesty, peace, culture, optimism, etc. reflect in your talk, it definitely elevates you and your communication.
  6. User right words and learn to speak words that are simple and not confuse people. Do not hesitate to bring a change in your communication style on the basis of past experiences so that others do not have to say to repeat the thing.

With strong communication skills, you can clearly impact your business. Great communicators are the ones who bring solutions, drive change, motivate and inspire their colleagues.

By improving communication skills, we can improve employee engagement, teamwork, decision-making, and interdepartmental communication in the workplace.