Marketing
The term marketing can be well defined in
the words of The Chartered Institute of Marketing as “Marketing is the
management process responsible for identifying, anticipating and satisfying
customer requirements profitably."
In other words marketing comprises of how you
turn up your ideas in branding your product and services. This includes how you
express, communicate, print, perform market research, find potential customer
etc.
Perceiving the need and requirement of consumer
is the foundation of marketing. Simply, the goal of any business is to sell
goods and services and marketing plays the most important part in understanding
the consumer purchasing pattern and how effectively value can be added to make
the market more appealing.
Today everything has gone online. Products and
services both are being marketed online. The digital marketing is very
essential because it balances with the way consumers make purchasing decisions.
The consumer has become smart enough to compare the products and services
online and make decision after seeing reviews and the best price available.
Internet marketing gives wide opportunity to make
your business open round the clock, irrespective of your location, now your
business fate lies in buttons of smart phone. With a click transaction,
purchasing big deals are taking place. Hence, keep your business available on
internet is best way to market your product locally, regionally, nationally as
well as internationally.
By using online platform to market your goods or
services you curtail the distance. You can run a big network of marketing
online by Affiliate Marketing and Multi Level Marketing. This gives you
complete liberty to expand your business through online marketing and upon new
doors of marketing much widely. Marketing on the Internet, you can overcome
limitations of distance.
Marketing products online decreases the cost of
marketing process rather than doing the same in retail way. You do not have to
bear the cost of property rental cost the inventory maintenance or displaying
big line of goods every time. The recurring costs of property rental and
maintenance are saved. You do not have to purchase stock for display in a
store. You can order stock in line with demand, keeping your inventory costs
low.
Internet marketing gives complete freedom to enable
you to personalize offers to customers by keeping a profile of their purchasing
behaviour, capacity, choices and preferences.
The Internet provides an eminent platform for
building and maintaining relationships with customers and increasing customer
retention levels. This is possible by keeping them informed about regular
offers and deals you are providing, discount coupons etc. New arrivals of
stocks, latest happenings and trends through emails are part of after sales
marketing. A follow-up email and a thank you letter for the shopping makes the
customer feels happy and satisfied.
Going for online marketing gives you complete
opportunity to use social media to get connect with more prospective consumer
and spread your brand. Today marketing is not just selling it’s all about
studying hte nature of customer and competitors performance to make your profit
high year by year.
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