Understanding the Marketing Concepts

Marketing is one of the most important aspects of business. Marketing deals with the strategic way an organization undertakes in order to engage its intended target audience, develop value for its customers, and capture value at the right time to gain profit in return. With the advent of Internet marketing, companies are able to manage their businesses and marketing activities from any location and with the help of a variety of tools that can be used online for e-mail, web analytics, SEO, social media, and other such activities. These tools have made the way of marketing easier and more effective. Companies are also able to save on costs and time through a better sense of marketing performance, more targeted customers, and higher return on investments.

For the marketing management company, there are four basic areas that they need to focus on. These include development of new products/services, development of new advertising programs, the positioning of existing products or services, and the promotion of selling strategies. In addition to these basic areas, there are also five additional areas that are considered to be more advanced marketing concepts. These include: Social media marketing, technological marketing, multimedia marketing, digital marketing, and contextual marketing.

Based on the definition of marketing concept, these are the marketing concepts that would help a company to achieve its goals and objectives. In addition, these concepts are considered to be part of a system that would help a company in fulfilling its goals and objectives by developing a plan with the assistance of experts, educating customers about its products and services, and maximizing customer satisfaction through a coordinated marketing campaign. For instance, developing a product by combining technology and marketing would be more effective if the company adopts a comprehensive strategy that considers the needs and interests of consumers, the value of the product to them, and the means to convince them through various channels, including advertising, promotion, and selling.