The term marketing is quite a trend these days. Marketing generally refers to the process of exploring, researching, and analyzing the market needs at a particular scale and using the data to provide enhanced services and products. Advertising and promotion are the main aspects of marketing. Through these, a potential customer is attracted to a service or product. Promotion assures consumers to provide the features they desire. The idea of marketing was conceptualized in 1897, around the time of the industrial revolution. The marketing concepts and methodologies proved themselves to be quite effective. This led to the global acceptance of such methods. The marketing tactics went to another level when specific organizations such as Smart Circle were established, promising to provide professional marketing and advertising methodologies.
Professional Marketing Companies
Organizations such as Smart Circle dedicated to providing marketing and advertising tactics to different companies are called marketing organizations. Such organizations are equipped with professionals with expertise in research and data analysis. A marketing strategy is not what it used to be during the initial phase. Initially, marketing strategies focused mainly on two aspects that were mass manufacturing and huge availability. Nowadays, professionals collect vast data such as feedback, past and recent marketing, quality of the products, and consumers’ suggestions. These massive chunks of data are analyzed in great detail. After completing the studying phase, a suitable conclusion is reached, and a proper marketing plan is strategized for particular companies.
Elements Of Marketing
Marketing is a vast field that includes advertising, promotion, and optimization of business operations to ensure a continuously increasing graph of a company. Though the area is quite extensive, and it is impossible to understand the concept in a few words entirely, the essential elements of marketing can be understood easily. The crucial aspects of marketing are called the four Ps of marketing. The four factors are discussed below:
- Product- This element of marketing deals with the current quality of the products and whether it is sufficient to satisfy consumers’ demands or not.
- Price- The price that a consumer pays for the product should be reasonable so that it is easily accessible to the majority of the population. The cost of a product significantly contributes to its overall success in the market.
- Place- This element of marketing deals with which product should be delivered to which region. This is done by analyzing the sales chart of various products in a different locations.
- Promotion- This is the essential element of the marketing process. Good advertising and promotion lead to increased popularity and thus an increased demand for the product.