Coordinated Marketing Concepts
Marketing is a tool used by organizations to acquire, promote and advertise their products and services to customers and potential customers. Marketing is a collective term for a variety of processes which are undertaken to acquire, establish, improve or create a market opportunity for a product or service. Marketing is one of the most important aspects of business. Marketer focus on marketing their businesses as well as products and services in order to maximize the benefits of marketing activities and to attain maximum return on marketing spend.
Marketing is a set of processes that are implemented in order to acquire, establish, improve or create a market opportunity for a product or service. In order to sell a product effectively and at the same time maintain competitive advantage, marketers use several marketing strategies. This includes developing and improving product or service, marketing to the right audience, conducting quality marketing research, analyzing the market trends and identifying new opportunities. In addition, the primary goal of marketing activities is to identify new prospects and to close sales.
Marketing management is an application that integrates all these marketing techniques. In this application, there is a need to align the different aspects of marketing with each other in order for them to work effectively. The application focuses on the development of specific marketing concepts. It also looks at the application of social marketing concepts, including community marketing, social marketing research, demand-based marketing and the leveraging of networks.
Community marketing concept is based on the idea that consumers locate sellers within their community. Therefore, in order to gain sales, a seller should develop a relationship with a group of consumers within his/her community. This concept helps a seller to gain a customer’s trust. The concept further includes the implementation of strategies such as advertising, public relations, and community participation in order to promote the sale of a product or service. It should be noted that marketing research is an integral part of this concept.
On the flip side, marketing myopia refers to the lack of knowledge about a certain product. This myopia limits a marketer’s ability to identify the target market for a particular product. A marketer’s inability to identify a specific target market makes it more difficult to promote a product. Some marketers also believe that customers have a tendency to buy products that they are familiar with.
Another application of the concept of coordinated marketing is that it can be used for customer satisfaction. This concept involves ensuring that customers meet the expectations of a product and/or service. The importance of customer satisfaction can be understood best when viewing marketing as a process that addresses the customer needs. In this way, marketing becomes more relevant and valuable to customers.