What is the current importance of marketing?

Over time, the concept and the importance of marketing for organizations have changed significantly. Companies need to optimize their strategies to conquer and retain customers more effectively.
Many companies still believe that talking about marketing is about sales or advertising. Still, it is essential that these vision changes and marketing are perceived as significant for corporate success.

If you consume come this far, it is because you are interested in more information about this company area. Therefore, we decided to create this article. Here you will find details about marketing, and you will see the fundamental importance of a healthy -developed marketing strategy

But in the end, What is Marketing?

This is one of the most significantly used areas of knowledge worldwide. Its strategies are used to achieve various objectives in companies, such as improving customers’ vision of the company, boosting corporate sales, and promoting products and services.

Addressing these objectives is essential for people to understand the motivation that drives companies to use marketing strategies.

Given to the “Father of Marketing”,  Philip Kotler, marketing is a business function that seeks to identify unfulfilled needs and wants. He adds that the area defines and changes its magnitude and potential for profitability. Another point related to marketing, according to the author, is the specification of target markets.

Apart from these functions, Kotler affirms that marketing, also called marketing or marketing in Spanish, needs to consider decisions about products and services. In general terms, marketing is a strategy that contemplates sales procedures and the relationship between the company and customers.

Indeed, after so much information, you may have been a little confused, right? To clarify the ideas, you must know a little about the history of marketing.

Marketing History for Beginners

It is not known when this area began to make sense in people’s lives, but something important is that its use started with the development of the market itself. Therefore, marketing is believed to have its origin at the beginning of civilization and the invention of commerce.

Although its practice is ancient, it is quite current marketing as a conscious practice. It is even assumed that the use and studies in the area began at the end of the Second World War.

With the expansion of markets and the growth of competition, the need arose to understand better the scenario in which companies operate. This is how marketing emerged, in an attempt to attract customers for companies and increase sales of products or contracting services.

Kotler and his 4 Ps of Marketing

It is inevitable to talk about Philip Kotler when talking about marketing. As mentioned above, he is considered the “Father of marketing”, so he is regarded as one of the most outstanding scholars in the area.

According to his concepts, marketing consists of four main elements. These integrate the so-called marketing mix or marketing compound, so necessary for creating strategies in the sector. Now you will know what those Ps are and better understand how to create a plan that includes all these elements.

Product

The product is what the company offers to customers. This can be tangible or intangible. In this case, we talk about services. Within the product concept, it is necessary to speak of quality, satisfaction, and benefits.

Precio

Undoubtedly, it is a critical factor in a coherent marketing strategy. It is essential to put a good value on the products or services companies offer. Price refers to the monetary value attributed to a consumer good, which is about the cost of production, profit margin, and discounts, among other concepts.

Plaza

The square is where the business operates, the place where it sells its products or offers its services. It is essential to know aspects of the market, such as the best place to put the company and where the target audience is. It also includes detecting the hours and days of customer service. Based on this information, the company can decide where it will be located to serve its customers, and it will be placed where most of its target audience is located.

promotion

This is one of the most well-known elements of the marketing compound. This is because the actions carried out, taking into account this P, include communication and all forms of convincing the customer to make the purchase.

By knowing and knowing what these elements are about, you have surely understood why it is so important to consider them and exploit them to the fullest in the business. Thus, you will understand the fundamental importance of marketing for companies today.

types of marketing

After talking about its concept, importance, and the main elements of a marketing strategy, it is interesting that you become aware of the types of marketing used by companies. On this occasion, we will present four aspects: Many companies still believe that talking about marketing is about sales or advertising. Still, it is essential that these vision changes and marketing are perceived as significant for corporate success.

If you have come this distant, it is because you are interested in more information about this company area. Therefore, we decided to create this article. Here you will find details about marketing, and you will see the importance of a healthy-developed marketing strategy.

With the expansion of markets and the growth of competition, the need arose to understand better the scenario in which companies operate. This is how marketing emerged, in an attempt to attract customers for companies and increase sales of products or contracting services.

Types of Marketing

After talking about its concept, importance, and the main elements of a marketing strategy, it is interesting that you become aware of the types of marketing used by companies. On this occasion, we will present four aspects:

1- Marketing of Services

As the name already says, companies’ marketing practices offer services. This type addresses the fundamental 4Ps and four other elements: quality, people, profile, and processes.

2- Marketing Relations

It is the marketing carried out intending to create a good relationship with the clients and prospects. All companies must understand the need to use it to attract and retain customers.

3- Strategic Marketing

This quality of marketing is used by top company executives when they create a  marketing plan. As its name says, all the actions carried out seek to generate a marketing strategy considering the company’s objectives.

4- Marketing Digital

This marketing is new to businesses. Even as a young form, it has already proven indispensable to a company’s brands, products, and services. This marketing seeks to offer tools, techniques, and appropriate ways to ensure the web presence of companies and enhance their success in the market.

By reaching this point, we hope you have understood what marketing is and its importance for organizations’ survival. You know how to identify the elements of a marketing compound.

We also hope you know that there are different types of marketing and that all of them deserve the attention of professionals in the area. If you want to know more information about this and other matters related to marketing, subscribe now to our newsletter. You will surely love the experience