What is Marketing and its Function in the Business World

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Business cannot be separated from what marketing is. Without the presence of marketing, it is guaranteed that the business will not run properly. Without the help of marketing, your business will not be recognized by customers. Marketing that brings business performance can improve over time.

The fast changing times make the types of marketing now there are various kinds. You can count on it too. For this reason, we will explain what marketing is, its benefits, types, and strategies.

What is Marketing?

What is marketing or marketing is related to business activities. Marketing is a part of the business itself.

The definition of marketing is marketing activities carried out by companies so that their products or services are known to the public.

Introduction here means not in the usual way such as introducing names, characteristics, and so on. Business people must be able to explore marketing in such a way that it looks attractive. Interesting marketing that will make people recognize it quickly.

What is marketing is always related to advertising. Good advertising results from a long marketing process. You must have seen advertisements on television, heard advertisements on radio, saw billboards on the side of the road.

In addition, due to the development of time, the form of marketing or marketing has also changed into various kinds. Not only the types of advertising above, now you can not only rely on one type of marketing. You can also rely on marketing that is currently popular, namely online marketing.

You can rely on all types of marketing as long as you have a sufficient budget. Moreover, online marketing can have a cheaper budget than conventional ones. That way, you can introduce your product or service widely.

Marketing Functions in Business

There are many benefits that you will experience as a business owner when optimizing marketing. Here's the explanation.

1. Introducing the product

As a businessman, you definitely want potential customers to buy your product. However, how do potential customers know your product exists if you don't introduce it?

You also have to explain your product to potential customers in a unique way. The things you need to introduce are the functions and advantages of the product compared to similar products, so that consumers understand your product.

You and your team can rely on creativity. Potential consumers usually pay more attention to unusual forms of promotion.

2. Increase sales

It is undeniable that marketing can make sales increase. That's because your product is known everywhere after a viral promotional action. However, of course, it must be accompanied by good quality products and your services that create customer satisfaction.

3. Generate new customers

Having regular customers is the dream of all business people. These repeat customers who keep buying your products without you asking. The way to do this is to provide the best service.

But of course you want to reach new customers too. This can be done by relying on marketing that directly hits the hearts of potential customers.

4. Dealing with customers

In addition to the sales team, the marketing team is the person who will deal directly with customers. Their job is to find out what potential customers like or complain about your business products. They will evaluate your product in the future.

They are also tasked with maintaining solid relationships with consumers. That way, customers will want to define your product as the item they bought.

4 Stages of Marketing in the Business World

Before offering products to customers, you need to do the marketing stages. The goal is to create successful promotions and make your business sales targets go up. Here's the explanation.

1. Develop ideas

Marketing strategies can be formulated very early on, when the new product is an idea. However, this idea must be mature. The product idea includes what goods or services you will sell to the public, how many types of products, and how the product will be presented to consumers.

From here, it will be easy for you to implement an effective marketing strategy.

2. Doing research

Doing research is the job of marketing. This can also be an early promotion before the product is launched.

An example of research you can do here is to share surveys with potential customers. The survey should contain questions related to the product and the prospective customer's desire for the product.

After potential customers answer them, you will certainly get good insights about what customers want that can be applied to your product.

3. Advertise

After the product has been finished, you can promote the product in the form of advertisements. The ads can be anything, you don't have to rely on conventional ads. Advertising done online is also very reliable. You just need to use the right formula so that your ad can successfully attract new customers.

4. Sales process

Now you can sell. To sell a product, you can think of a variety of ways. For example, selling them on the marketplace, selling them on your website, selling them on consignment from minimarkets and supermarkets, and so on. Choose the right sales process for your product.

Must have in marketing

What is marketing is divided into 4 simple formulas. Like this explanation.

1. Product

What is marketing will be closely related to the product. The reason is because the product is the key to the basic marketing strategy. Without knowing the product, the marketing team will find it difficult to market their products.

2. Place

Place or location is the most important thing in marketing. The success of what marketing is will be determined from the location specified for promotion to selling. This is where business people must be able to choose a good location for their business.

3. Price

What is marketing is also closely related to price. Price is a benchmark for business people to make a profit. The price for consumers is also a benchmark whether it should be chosen or not. For that you need to determine the price according to the market and the quality of your product.

4. Promotion

This is the next strategy to make more buyers choose your product. You've determined the product, location, and price, but without the presence of a promotion, your product numbers will remain the same. Therefore, promotions will usually be carried out intensely.

Types of What is Marketing

It was already mentioned that there are two types of marketing, namely offline and online. There are significant differences between the two. Here's the explanation.

1. Offline marketing

Offline marketing or conventional marketing is a type of marketing that was relied on before the advent of internet technology. The presence of this type of marketing has been around for a very long time.

Although marketing has grown more, offline marketing is still reliable. That's because each business does have a different promotional approach depending on the target.

Examples of this type of marketing are pamphlets, radio, television, billboards, banners, banners, and so on.

2. Online marketing

What is marketing it is impossible to develop without the presence of the internet. This type of marketing is called online marketing. Online marketing is said to be more budget-friendly and the audience coverage is also wider. It's no surprise that many businesses rely on it.

The types of online marketing that we can find today are social media, SEO, blogs, videos on YouTube, and so on.

6 Marketing Strategies

There are 6 marketing strategies that you can practice in business. Here's the explanation.

1. Viral Marketing

Viral marketing marketing strategy is marketing that is done by spreading information quickly and in the end it becomes the talk of many people. As a result of being talked about often, it eventually becomes viral and your product is more recognized by customers.

Dissemination of information is done intentionally, even though it becomes viral by relying on organic means. This is what makes viral marketing quite unique.

2. Marketing Mix

What was a marketing mix initially relied on the 4Ps in practice, but has now evolved into the 7Ps according to the demands of the times.

Here's what you need to know because the elements feel more complete. Starting from products, locations, prices, promotions, employees, processes, and physical evidence.

3. Experiential Marketing

This marketing strategy comes by relying on the interesting experiences that customers feel when using your product.

This form of experiential marketing is usually by holding interesting events directly, for example at a mall, so you can directly meet customers. There customers can directly use your product and enjoy the various programs that you offer.

4. Marketing Trends

The marketing strategy can also be seen from the marketing trends in 2021. The most frequently used marketing trends are social media, marketing with an emotional approach, videos, SEO, and so on. You can choose the trend that best fits your business.

5. Buzz Marketing

You can also rely on buzz marketing. The trick is to work with buzzers to create a successful campaign. These buzzers will later be tasked with raising keywords or campaigns, so that people outside the buzzer will know about it.

6. Guerrilla Marketing

What is marketing will be successful when you surprise customers in a sudden way. Although this is done in a short time, but the results can be big.

We can also call it guerrilla marketing. Examples of guerilla marketing are creating interesting campaigns at a concert, or taking advantage of competitors who are going viral by creating content related to them.

This is an explanation of what marketing is. Marketing or marketing is indeed an interesting part of business. It is predicted that it will develop with the times. It is possible that the types of marketing strategies will increase. Moreover, marketing is very dependent on human creativity that never dies.