Characteristics Of Marketing | Principles Of Marketing |

Marketing is a total system of business activities designed to plan,price,promote and distribute want satisfying products to target markets to achieve organizational objectives. Impotence characteristics of  Marketing is below :

1. Social Process :

 By marketing, people's social needs are met. For this reason, the importance of consumer satisfaction and the welfare of the people of society is given the highest importance in all marketing activities.

2.Managerial Process : 

There are several Managerial Processes in different marketing areas. Managerial processes play a very important role in many programs, such as new product development, scheduling distribution, pricing and promotional decisions, formulating policies.

3. Process Of Creating Utility :

 Among the utilities in the economy are significant - customary, proprietary, spatial, timely and serviceable.Marking  is the creation of place,time and possession utilities.

4.Exchange Process : 

One of the fundamental aspects of marketing is the exchange by which the needs and needs of the consumer are satisfied. Through the process of exchange, mutual lack of buyers and marketers is met.

5.Consumer Orientation Process :

 All marketing practices are directed to consumers. Because modern marketers think "consumer is the king". Through this, consumers try to identify the needs, needs and needs of the customer in a realistic manner.

6.Process Of Earning Profit : 

The main goal of every organization is to make a profit. Marketers make profit by providing maximum satisfaction to consumers. Marketing is the customer satisfaction at a profit

7.Improvement Of Standard Of Living : 

New products and services are provided through marketing, which improves the quality of life of people through consumption or consumption. Marketing is the standard of living for society.

8. After Sales Services :

 In some products such as cars, ACs, TVs, refrigerators, etc., some services are provided to the consumer. Such as - Home Delivery, Warranty, Guarantee etc.

9.Communication Process : 

Through marketing, various parties - such as buyers, consumers, intermediaries, producers, etc. interact. It exchanges information and feelings with them.

10. Marketing Stars Before Production :

 Marketing begins before the production of the product. The product is designed and developed according to the consumer's interests, preferences, needs, etc.

 

Read More

What is Relationship Marketing?

Relationship marketing essentially represents a paradigm shift within marketing away from an acquistitions focus towards a retention focus.Relationship marketing is a philosophy of doing business,a strategic orientation,which focuses on keeping and improving relationships with current customers rather than on acquiring new customers.This philosophy assumes that many consumers and business customer prefer to have an ongoing relationship with one organization than to switch continually among providers in their search for value.Building on this assumption and another that suggests it is usually much cheaper to keep a current customer than to attract a new one,successful marketers are working on effective strategies for retaining customers.

"Relationship marketing is the process of creating,maintaining and enhancing strong value,laden,relationship with customer and other stockholders."-->Philip Kotler.

"The term relationship marketing is an organization effort to develop a long term cost effective like with individual customers for mutual benefit."-->Kevin&Herley.

Creating
Maintaining
Enhancing
Strong Value.

Finally we can say,Relationship marketing is the process of creating,maintaining and enhancing strong value,laden,relationship with customer and other stockholders.
Download Tutorial :Click Here 

Read More

To Create Your Perfect 2015 Digital Marketing Strategy

It is hard to believe that 2015 is right around the corner.

As the weather starts to cool down, digital marketers’ brains just begin to warm up and think about the budget for the New Year. The million-dollar question is what are the best digital networks to invest into and what platforms should receive more exposure for 2015?

Malcolm X was quoted as saying; “The future belongs to those who prepare for it today.” If you are reading this article, you are likely a step ahead of the competition by staying sharp in news and trends in the online marketing field. By starting to think about the future of online marketing, you can plan out a successful 2015 year for your business while staying a step ahead of the competition.

The 15 step guideline for the perfect 2015 digital marketing strategy will provide you with a digital marketing blueprint for the upcoming year.

Once the ball drops on New Years at midnight, you won’t drop the ball when it comes to digital marketing strategy.

1. Get started on Instagram:

If you haven’t started an Instagram account for your business, what are you waiting for? The younger generation has flocked to this social media platform with over 200 million monthly active users. Advertisers are getting more of an opportunity to share their content through filtered photos. Instagram is one of the most natural ways to share content for your brand. It is better to be a step ahead of the game than 2 steps behind it.

2. Yahoo! Bing network:

The average cost per click on Yahoo! Bing was 10% to 24% lower than on Google Ad Words.  A lower cost per click can yield a lower cost per acquisition, which is the exact reason why you should start taking the search network seriously that receives 11.6% of the market share this upcoming year.

If you are in an expensive industry in the pay per click world like the legal profession, insurance industry or medical field, having a lower cost per click can help with a profitable PPC campaign.

3. Facebook lookalike audience:

What exactly is a Facebook Lookalike Audience? According to Facebook, Lookalike audiences let you reach new people who are likely to be interested in your business because they’re similar to a customer list you care about. When you use Custom Audiences, you can choose to create a lookalike audience that targets people who are similar to your Custom Audience list.

Let’s say you have an email marketing database over 5,000 contacts and are in the heating and cooling industry. You can upload this onto Facebook’s advertising platform and target the EXACT demographic similar to your existing customers! This is a neat feature that advertisers should at least test during the upcoming year.

4. Paid promotion on Facebook:

Adding just $5.00 in promotion to selected Facebook posts will drastically increase your interaction. You’ll start to notice a major spike in communication when you boost your post for a small budget. With Facebook’s Edgerank Algorithm, the likelihood for a business to appear high in the news feed is less likely. This is why for 2015, you should focus on posts that can yield the best results and boost them for a small budget.

5. Email marketing:

If you are a business that only sends out one email blast per month, start doubling this number and send out at least two per month. Nordstrom sends out multiple email blasts EACH DAY! If you have compelling content that would be informative to the subscribers on your email list, tell them about it via email communications.

6. Twitter outreach:

There has been a lot of frustration amongst marketers over all of the advertising that various social media channels are forcing businesses to partake in. Luckily, Twitter is still a great platform where you can grow your following organically. Start searching for hashtags within your industry and reaching out to users in this fashion. Compliment someone on Twitter about a blog post that they wrote. Begin asking questions related to your hashtag. The result will be more interaction and core following of people who are interested in your content! There is a reason why Twitter has nearly 1 billion registered users! Start reaching your target audience via tweets through the perfect Twitter outreach strategy in 2015.

7. Facebook re-marketing:

If you are a social media marketer and have not taken advantage of display advertising on Facebook, you are missing an outstanding opportunity. Not only will this yield one of the highest return on investments for your clients, it will help with brand exposure, lead to better conversion rates and provide a flexible budget which will lead to a more effective strategy.

An apartment community in Columbus implemented beautiful graphics with relevant messaging for one of its apartment communities for Facebook re-marketing. When someone would drop off of their website and visit Facebook, this messaging would follow them around. This resulted in a 33% uptick in conversion for their Polaris Apartments community!

Start seeing an uptick in conversion by implementing a Facebook re-marketing strategy for 2015.

8. Better blogging:

We like to refer to blog content as the match that starts the fire. When you write a compelling blog, it has the potential to rank well organically in the search engines. 80% of daily blog visits are new so this is a great driver of new website traffic! Additionally, a blog can serve as content for a Facebook and Twitter post as well as a teaser for an email marketing campaign. By creating better blog content in 2015, your web traffic will increase and your content will become more compelling

9. Google+ game plan:

Google+ might not gain you that much interaction on your social media posts. This social media platform plays a crucial role in search engine optimization on the localized level, which makes this a must for marketers in 2015.

The more reviews you get, the more content you post onto your page and the more followers your obtain, the higher the likelihood that you will start ranking well for localized search terms.

10. YouTube videos:

Did you know that Google owns YouTube? By implementing videos into your online marketing mix, you can start to get search engine exposure for the videos that you upload onto YouTube! There are a lot of great tricks to obtain more video SEO Exposure. Choosing a proper title tag, uploading a transcript and embedding the YouTube video are just some of the tricks for optimal SEO exposure. Online video should definitely be included in your 2015 digital marketing strategy as this form of rich media can be a game changer in terms of publicity for your company. People will interpret your YouTube videos that you are taking your marketing initiatives very seriously!

11. Compelling graphics:

The more compelling your graphics are on various social media channels, the more interaction you will receive. If you have a graphic designer, start sending him or her over your social media calendar so they can help create beautiful imagery. In 2015 you will want to increase engagement and great pictures certainly help. If you don’t have a graphic designer, don’t worry; there are affordable sites that offer stock photography like BigStock.

12. Search engine optimization:

Search Engine Optimization (SEO) leads have an average close rate of 14.6%, while outbound leads (such as cold calls or print advertising) have an average close rate of 1.7%. Having your website optimized for SEO is a necessity heading into 2015. By having an SEO strategy in place, you can increase your leads and grow your business for next year.

13. Content contribution:

If you want your content to be seen by more eyeballs and gain more exposure, start contributing content to other blogs in similar fields. If you own an apartment community in Nashville, start writing for a local Nashville website that talks about the best activities around town. You will be seen as an expert in your city and this can help drive more traffic to your website. While people might not be looking for an apartment immediately, they will remember that you have invested time and effort into content within the community!

14. Digital PR:

You can build off of the content contribution by implementing a Digital PR strategy. If you reach out to various media related websites and send them over a solid pitch, they might just write an article on your company or feature your CEO in a blog post.  The more people talking about your company, Tweeting about your business and mentioning your brand, the better exposure you will receive for the upcoming year.

15. Unique promotion:

Brainstorm a unique promotion that people will actually enjoy that can drive massive publicity for your company in 2015! Whether it is coming up with a user generated jingle contest or a photo upload promotion, entice your great fans on social media to interact with your brand in a clever way. If the promotion is a success, it will be one of the most talked about campaigns for your company in 2015.

We don’t expect digital marketers to hit on each and every one of the 15 guidelines referenced above. Within the list, some of the suggestions are relatively new while others have been around for the past decade. If you incorporate some of the 15 Steps from our Guideline, you might just have the perfect year in 2015 from an online marketing perspective!

Source :http://www.jeffbullas.com/

Read More

Perception in Service Marketing

As a marketer he/she should keep in mind that perceptions are always considered relative to expectations.Because expectations may also shift overtime from person to person and culture to culture.We will be focusing on the perceived service box in in the gaps model.What is considered quality service or the things that satisfy customers today may be different tomorrow.Also keep in mind that the entire discussion of quality and satisfaction is based on customers perceptions of the service.

"Customer perceive service in terms of the quality of the services and how satisfied they are overall with their experiences."   ==>Valarie,A Zeithaml & Mary Jo Bitner

"Perception is the process by which sensations are selected, organized and interpreted." ==> Solomon

"Perception is the process by which an individual selects organizes and interprets into a meaningful and coherent picture of the world." ==> Schiffman and Kanuk

Finally we can say,a marketer should keep in mind that perceptions are always considered relative to expectations.Expectation may also shift over time from person to person and from culture to culture.

<<<<<<<<<<---------->>>>>>>>>

Read More

The Experience is Marketing

Service are high in experience and credence qualities relative to goods,thus how consumers evaluate the actual experience of the service is critical in their evaluation process and their decision to repurchase later.

"The experience is marketing"=>James Gritmore & Joseph Pine

In this section we describe elements of consumer behavior that are relevant to understanding service experiences and how customers evaluate them.Many subsequent chapters in this book will provide you with tools and approaches for managing specific elements of the customer experience the heart of services marketing and management.

Services as Processes:

Because services are actions or performances done for and with customers,they typically involve a sequence of steps,actions and activities.Consider medical services.Some of the steps in medical care involve customers interacting with providers,other steps may be carried out by the customers themselves taking and other steps may involve third parties.The combination of these steps and many others along the way,constitute a process,a service experience that is evaluated by the consumer.

In many cases,the customers experience comprises interactions with multiple,interconnected organizations,as in the case of medical services,automobile insurance,or home buying.Diverse sets of experiences across the network of firms will likely influence consumers overall impressions of their experience.

Service Provision as Drama:

The metaphor of a theater is a useful framework for describing and analyzing service performances.Both the theater and service organizations aim to create and maintain a desirable impression before an audience and recognize that the way to accomplish this is by carefully managing the actors and the physical setting of their behavior.

Service Roles and Scripts:

Roles are combinations of social cues that guide and direct behavior in a given setting.Just as there are roles in dramatic performances,there are roles in service delivery.

For example,the role of a hostess in a restaurant is to acknowledge and greet customers,find out how many people are in their group and then lead them to a table where they will eat.The success of any service performance depends in part on how well the role is performed by the service actor and how well the team of players the role set of both service employees and customers act out their roles.

Some services are more scripted than others.Customers would expect very expensive,customized services such as spa vacations to be less scripted than mass produced services such as movie theaters and airline travel.

(Collected in Book)

Read More

Philip Kotler: Marketing

America knows how to market itself, its products, and its ideas. For better or for worse, for richer or poorer, American marketing creativity, power, and prestige influence consumers the world over.

PhilipKotler, best known for the marketing principle of the four Ps—product, price, promotion, and place—takes us on a guided tour of American marketing, including its origins and trends, its relationship to economics, and its criticisms. 

His talk will include examples of exemplary marketing. Kotler is professor of marketing at Northwestern University's Kellogg School of Management, and his textbooks serve as the basis for graduate business programs worldwide.

Read More

How Does Affiliate Marketing Work?

6 great reasons to become an affiliate

Start up costs aresuper low. To start a regular business where you rent retail space and stock inventory could easily set you back tens of thousands of dollars. As an affiliate, you can get started for the cost of a burger and fries.

You don’t needstaff. No more office politics, and no messy payroll handling. When you get started as an affiliate you can do it all yourself, and when the time comes to grow your business it’s easy to outsource.

You don’t even needa product you simply have to promote products which are already for sale. Whether it’s an eBook about dog training your or a weight loss supplement – there is a product out there that you can sell as an affiliate.

You don’t need anyexpert knowledge on a subject to sell affiliate products either. If you want to be an affiliate for weight loss products, then you don’t need a PhD in nutrition or exercise. All you need is an eager-to-learn mindset and the ability to market the right affiliate products to the right people. 

Earn passive income. It’s a bit like the money you earn if you buy a house and then rent it out – for as long as you own that house and are renting it out, you earn money. In a normal job you only get paid once for the work that you do, but as an affiliate you can keep making money from the same work day in, day out. 

The opportunity towork your own hours. I’m not saying that you’ll be sitting on a beach drinking Pina Coladas and only working an hour a day after your first month as an affiliate. However, you do have the power to work when it suits you and have a more flexible life. You become your own boss – how cool is that? 

Read More

What is Marketing? What is Marketing To You ? What is Marketing used for ?

Marketing is the development of design and fulfilling the start, rating, advancement, and sharing of concepts, imports, and facilities to craft talks that satisfy distinct and business goals.

Marketing comprises of specific besides logistic accomplishments that aid and further substantial altercation bond’s in a energetic location through the design, scattering, promotion and rating of goods, amenities and philosophies.

Marketing consists of individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation,distribution,promotion and pricing of goods,services and ideas.

"Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customer in return."

                                                                                     < Philip Kotler & Gary Armstrong

"Marketing is the process of developing and exchanging ideas,goods and services that satisfy customer and organizational needs,using the principles of pricing,promotion and distribution."

                                                                                                         < Boove,Houston & Thill

"Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas,goods and services to create exchanges that satisfy individual and organizational objectives."

                                                                                          < American Marketing Association.


Definition Analysis -

Marketing creates value for buyers.
Marketing provides profitable customer satisfaction.

Products or services are exchanged through marketing.

                            

Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customer in return.

Read More

Marketing Communication

Marketing communication involves sharing of  meaning, information and concepts by the source and the receiver about products and services and about the firm selling them. Marketing communication consists of the transmitting of information and message between buyers and sellers to the end that the most favorable action climate for the seller is created in the market place

                                        

Marketing communication is simply the transmission of information from the marketer to the consumer it thus creates a favorable climate for the product in the market place. Marketing communication  is the process of presenting an integrated set of stimuli to a market target with the intent of evoking a desired set of act upon messages from the market for purposes of modifying present company messages and identifying new communications opportunities.

Read More

Marketing Communication Process

A whole communication process which means a source trying to reach a receiver with a message. 

1.Transmitter: Transmitter is the gathering sending the message to alternative party. Example: S.M.C

2. Programming: Programming is the process of putting thought into symbolic form.

3. Message: Message is the set of symbols that the sender transmits.

4. Broadcasting: Broadcasting is the communication channel through which the message moves form sender to receiver.

Read More

Marketing Communication Mix

Marketing communication mix consists of the specific mix of advertising, personal selling, sales promotion, public relation and direct marketing tools a company uses to pursue its advertising and marketing objectives.

                                   

1) Advertising: Advertising is any paid form of ideas, goods or services by an identified sponsor.

2) Personal Selling: Personal selling is the personal presentation by the firm's sales force for the purpose of making sales and building customer relationships.

Read More

The Scope of Marketing | Scope of Marketing Planning

1) Goods: Good is a set of tangible physical attributes assembled in an identifiable form to provide want-satisfaction to customers.

2) Services: Service is any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything.

3) Experiences: Experience is knowledge or skill which is obtained from doing, seeing or felling things.

4) Events: Events are occurrences designed to communicate particular messages to target audiences.

5) Persons: Person marketing consists of activities undertaken to create, maintain or change attitudes of behavior toward particular people.

6) Places: Place marketing involves activities undertaken to create, maintain, or change attitudes or behavior to a particular pace.

7) Properties: Properties are intangible rights of ownership of either real property or financial property .

8) Organizations: Organization marketing consists of activities undertaken to create, maintain or change the attitudes and behavior of target consumers toward an organization.

9)  Information: Information means facts and news.

10) Ideas: Ideas are concepts, philosophies, or images that can be exchanged in the marketplace.

<<<<<<<<<<---------->>>>>>>>>>

Read More

The Marketing Research Process | Marketing Research Process 6 Steps | Problem Definition | Develop The Research Plan | Collect The Information |Analyze The Information| Person the findings | Make the Decision

The marketing research process consists of defining the research problem and research objective , developing  the research plan , collecting the information, analyzing the information, presenting the findings to management , and making the decision.

• Problem Definition :  Problem definition involves stating the general problem and identifying the specify components of the marketing research problem. Problem definition is three types.1)Exploratory 2) Descriptive 3) Causal.

•  Develop the research plan : A research design is a framework or blueprint for conducting the marketing research project. Develop the research plan is five types.1)Data sources 2)Research approaches 3)Research instruments 4)Sampling plan 5)Contact methods.

• Collect the information : Data collection involves a fields force or staff that operates either in the field , as in the case of personal interviewing, from an office by telephone, through mail or electronically.

•  Analyze the information : Data preparation includes the editing, coding, transcription, and verification of data. Analysis is the application of reasoning to understand the data that have been gathered.

• Present the findings : A research report is the presentation of the research findings to a specific audience for a specific purpose.

• Make the decision : A marketing decision support system (MDSS) as a coordinated collection of data systems, tools and techniques with supporting software and hardware by which an organization gathers and interprets relevant information from

Read More