Monday, October 26, 2009

Marketing-Making selling superfluous

A layman may define marketing as an art of selling a product, service or performance. Though the end motive is selling and earning profit, Marketing is much more than it. It includes large number of processes ranging from acquiring or manufacturing a product, positioning1 it to the target segment2, making it available to the end user through intermediaries (retailers, distributors and franchisees) and post-sale support and purchase behavior.

The main aim of marketing is to make selling superfluous. Marketing is basically identifying human needs and positioning your product/service as a means to satisfy that need. A good marketing plan helps you understand the human nature so well that your product/service would sell itself to the customer. This requires analyzing the market scenario identifying marketing opportunities, selecting target markets, designing marketing strategies, developing marketing programs, and managing market effort.

For instance, when Apple launched it iPod Nano digital music player, it need not do hard selling. There was a great demand and manufacturers were flooded with orders because they had designed the right product. Ever since the launch of basic iPod model, Apple has come up with number of products upgrade with added features and each of its products has been a success.

But, how do they decide upon adding a particular feature to an existing product? Again Marketing comes to help. A good Marketing effort requires staying in touch with customers needs, identifying the new possible aspects that you as an organisation can target and develop new innovative products and services.

There is STP and Marketing mix, which forms the core of marketing. Their meaning and relevance to Indian market would be discussed soon.

1Positioning refers to the process of creating an image of your product, brand in the mind of the target customer. It gives the buyer clue about the features of your product and how would it satisfy his needs.

2Target Segment: It refers to a section of people that are seen by a marketing organisation as prospective buyers of their product. So, the marketing program focuses on positioning their product for this particular segment.

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