Marketing

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Marketing is the study and management of exchange relationships. Marketing is used to create, store, and satisfy customers. With customers as the focus of their activities, it can be concluded that Marketing is one of the main components of Business Management - the other is innovation.

Video Marketing

Definisi

Marketing is defined by the American Marketing Association as an "activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings of value to customers, clients, partners and the public at large." The term developed from the original meaning that literally means going to the market with goods for sale. From a sales process engineering perspective, marketing is a "series of interconnected and interdependent processes with other functions" from businesses aimed at achieving customer interest and satisfaction.

Philip Kotler defines marketing as: -marketing is about Satisfying needs and wants through the exchange process.

The Chartered Institute of Marketing defines marketing as a "responsible management process" to identify, anticipate and satisfy customer needs profitably. " A similar concept is value-based marketing that expresses the role of marketing to contribute to increasing shareholder value. In this context, marketing can be defined as a "management process that seeks to maximize returns to shareholders by developing valuable customer relationships and creating competitive advantage."

Marketing practices tend to be seen as creative industries in the past, which include advertising, distribution and sales. However, since academic marketing studies make extensive use of the social sciences, psychology, sociology, mathematics, economics, anthropology and neuroscience, this profession is now widely recognized as a science, allowing many universities to offer a Master-of-Science (MSc) program.

The marketing process is bringing the product to a market where it includes these steps: broad market research; market targeting and market segmentation; determine distribution, pricing and promotion strategies; develop communication strategies; budgeting; and vision of long-term market development goals. Many parts of the marketing process (eg product design, art director, brand management, advertising, copywriting, etc.) involve the use of creative arts.

Maps Marketing

Drafts

The 'marketing concept' proposes that to meet organizational goals, organizations must anticipate the needs and wants of potential customers and satisfy them more effectively than their competitors. This concept is derived from Adam Smith's The Wealth of Nations, but will not be widely used until nearly 200 years later. The concept of Marketing and Marketing is directly related.

Given the centrality of customer needs and desires in marketing, a rich understanding of these concepts is essential:

Needs: Something is needed for people to live healthy, stable, and safe lives. When needs remain unfulfilled, there are obviously poor results: dysfunction or death. Needs can be objective and physical, such as the need for food, water and shelter; or subjective and psychological, such as the need to become a family member or social group and the need for self-esteem.

Want: Something you want, expect or aspire to. Desires are not essential to basic survival and are often shaped by cultures or peer groups.

Request: When the needs and wants are supported by the ability to pay, they have the potential to become economic demands.

Marketing research, conducted for the purpose of developing new products or upgrading products, is often concerned with identifying unmet consumer needs. Customer needs are the center of market segmentation with an interest in dividing the market into different buyer groups. on the basis of "different needs, characteristics or behaviors that may require a separate product or marketing mix." Segmentation based on need (also known as benefit segmentation ) "puts customers at the forefront of how companies design and market their products or services." Although segmentation based on necessity is difficult in practice, it has proven to be one of the most effective ways to segment markets. In addition, many ads and promotions are designed to show how a particular product's benefits meet customers' needs, wants, or expectations in a unique way.

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Orientation

Marketing orientation has been defined as "business management philosophy." or "corporate state of mind" or as "cultural [al] organization" Although scholars continue to debate the precise nature of a particular orientation that informs marketing practices, the most commonly quoted orientation is as follows:

Products

Companies that implement product orientation mainly relate to the quality of their own products. Product orientation is based on the assumption that, all things the same, consumers will buy products with superior quality. This approach is most effective when companies have an in-depth insight into customers and their needs and desires derived from research and (or) intuition and understand the expectations and price quality of the consumers they are willing to pay. For example, Sony Walkman and Apple iPod are innovative product designs that answer unmet consumer needs. Although product orientation has largely been replaced by marketing orientation, companies that practice product orientation can still be found in haute couture and art marketing.

Sales

A company that uses sales orientation focuses primarily on selling/promoting existing company products, rather than determining the needs or desires of new or unmet customers. As a result, this simply means selling existing products, using promotional and direct selling techniques to achieve the highest sales. Sales orientation "is usually practiced with unsold goods." One study found that industrial firms were more likely to have a sales orientation than a consumer goods company. This approach can also be adapted to scenarios where the company keeps stocks off, or otherwise sells highly desirable products, with little possible change in consumer appetite that reduces demand.

The 2011 meta-analysis finds that the factors with the greatest impact on sales performance are knowledge related to the sales of salespeople (knowledge of market segments, sales presentation skills, conflict resolution, and products), adaptive levels (changing behavior based on the above-mentioned knowledge )), clarity of roles (the role of salespeople is explicitly to sell), cognitive intelligence (intelligence) and job involvement (motivation and interest in selling roles).

Production

A company focused on production orientation specializes in producing as many specific products or services as possible to achieve economies of scale or economic scope. Production orientation can be applied when high demand for a product or service exists, coupled with the certainty that consumer tastes and preferences remain relatively constant (similar to sales orientation). The so-called production era was thought to have dominated marketing practices from the 1860s through the 1930s, but other theorists argue that evidence of production orientation can still be found in some companies or industries. Particularly Kotler and Armstrong note that the philosophy of production is "one of the oldest philosophies that guide sellers... [and] still useful in some situations."

Marketing

Marketing orientation is probably the most common orientation used in contemporary marketing. This is a customer-centric approach involving companies that base their marketing programs around products that fit new consumer tastes. Companies that adopt a marketing orientation typically engage in broad market research to gauge consumer wants, use R & D to develop products tailored to the information revealed, and then use promotional techniques to ensure consumers know the whereabouts of the product and the benefits it can provide. Scales designed to measure the overall market orientation of a company have been developed and found to be relatively strong in a variety of contexts.

Marketing orientation often has three main aspects:

Customer orientation : A company in a market economy can survive by producing goods that people want and can afford. Consequently, ensuring consumer demand is critical to survival and even the future existence of the company as survival.

Organizational orientation : In this sense, a company's marketing department is often seen as very important in the functional level of an organization. Information from the organization's marketing department will be used to guide the actions of other departments within the company. For example, the marketing department can ensure (through marketing research) that consumers want new product types, or new uses for existing products. With this in mind, the marketing department will inform the R & D to create prototype products/services based on consumers' new desires.

The production department will then start producing the product, while the marketing department will focus on promotion, distribution, price, etc. of the product. In addition, the company's finance department will be consulted, in connection with securing appropriate funding for the development, production and promotion of the product. Interdepartmental conflicts can occur, if the company must adhere to a marketing orientation. Production may oppose new stock installations, support, and stock servicing, which may be required to produce new products. Finance may oppose the necessary capital expenditures, as it can damage the healthy cash flow for the organization.

Mutual exchange : In a transaction in the market economy, the company earns revenue, thus generating more profit/market share/sales. Consumers on the other hand get satisfaction over the needs/desires, utility, reliability, and value of money from purchasing products or services. Since no one should buy goods from one supplier in a market economy, the company must attract consumers to buy goods with contemporary marketing ideals.

Social marketing

A number of scholars and practitioners argue that marketers have greater social responsibility than simply satisfying customers and giving them a higher value. Instead, marketing activities should strive to benefit the welfare of society as a whole. Marketing organizations that have embraced the social marketing concept typically identify key stakeholder groups such as employees, customers, and local communities. They should consider the impact of their activities on all stakeholders. Companies that adopt social marketing perspectives typically practice triple bottom line reporting in which they publish social impacts and environmental impact reports alongside financial performance reports. Sustained marketing or green marketing is an extension of social marketing.

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Marketing mix (the 4 Ps)

The Four Ps, often referred to as the marketing mix or marketing program, is a basic tool that marketers can use to bring their products or services to market. They are the foundation of managerial marketing and marketing plans usually devote a part to each of these Ps.

Origins

During the 1940s, marketing disciplines were in transition. Interest in the functional school of thought, which is primarily concerned with mapping the function of marketing is diminishing while managerial thinking, which focuses on the problems and challenges confronting marketers is increasing. The concept of marketers as a "material mixer," was first introduced by James Culliton, a Professor at Harvard Business School. At this time the theorists are beginning to develop checklists of the elements that make up the marketing mix, however, there is little agreement on what to include in the list. Many scholars and practitioners rely on a long classification of factors to consider in order to understand consumer responses. Neil Borden developed a complicated model in the late 1940s, based on at least twelve different factors.

Inspired by the marketer's idea as a material mixer, Neil Borden, one of Culliton's partners at Harvard, coined the marketing mix terms and used them wherever possible. According to Borden's own account, he used the term, 'marketing mix' consistently from the late 1940s. For example, he was noted to have used the term, 'marketing mix,' in his presidential address given to the American Marketing Association in 1953. In the mid-1960s, Borden published a retrospective article detailing the early history of the marketing mix. in which he claims that he was inspired by Culliton's notion of 'mixer', and credited himself by combining the term, 'marketing mix'. Continuous and consistent use of the phrase, "the marketing mix," contributed to the process of popularizing the concept throughout the 1940s and 50s.

The "marketing mix" was widely acclaimed by publication, in 1960, from the text of E. Jerome McCarthy, Basic Marketing: Managerial Approach that describes ingredients in the mix as impressive 4 Ps, ie product, price , place and promotion. The marketing mix is ​​based on four controllable variables that the company manages in its efforts to meet the company's goals as well as the needs and wants of the target market. Once there is an understanding of the target market interest, marketers develop tactics, using 4P, to encourage buyers to buy products. The success of modeling is based on the extent to which the needs and wants of the target market have been understood, and the extent to which marketers have developed and applied tactics appropriately. Today, the marketing mix or marketing program is understood to refer to "the set of marketing tools that companies use to pursue their marketing goals in the target market".

Short outline

Traditional marketing mix refers to four broad marketing decision levels: product , price , promotion and place .

Products

Product aspects of marketing relate to the actual specifications of goods or services, and how they relate to the needs and wants of the end user. The product elements consist of product design, new product innovation, branding, packaging, labeling. The product scope generally includes supporting elements such as warranties, guarantees, and support. Branding, a key aspect of product management, refers to various methods for communicating brand identity for a product, brand, or company.

Price

This refers to the pricing process for a product, including a discount. Price does not have to be money; it can only be what is exchanged for a product or service, e.g. time, effort, or attention or sacrifice made by the consumer to obtain the product or service. Price is the cost consumers pay for a product - monetary or not. The pricing method is within the domain of price determination science.

Place (or distribution)

This refers to how the product gets to the customer; distribution channels and intermediaries such as wholesalers and retailers that enable customers to access products or services in a convenient way. The third P is also sometimes called Place , refers to channels used to sell products or services (eg online vs. retail), which geographic or industrial areas, to which segments (young adults, family, businessman), etc. also refers to how the environment in which the product is sold can affect sales.

Campaign

This covers all aspects of marketing communications; advertising, sales promotion, including promotional education, public relations, personal sales, product placements, branded entertainment, event marketing, trade shows and exhibitions.

Criticism

Morgan, in Riding the Waves of Change (Jossey-Bass, 1988), points out that one of the greatest limits of the 4 Ps "approach is that it unconsciously emphasizes the outer-in view, while the essence of marketing must be an inward-out approach ". The in-out approach is a traditional planning approach where organizations identify desired goals and objectives that are often based on what is always being done. The marketing task then becomes one of the "selling" products and messages of the organization to the "outside" or external stakeholders. In contrast, the outer-in-the-first approach seeks to understand consumer needs and wants.

From a model-building perspective, 4 Ps has drawn a number of critics. Well-designed models should show clear categories that are mutually exclusive, without overlap. However, the 4 Ps model has a broad overlapping problem. Some of the Ps are only defined in vague terms. Some authors emphasize the hybrid nature of the fourth P, mentioning the presence of two important dimensions, "communication" (public and informative communication such as public relations and corporate communication) and "promotion" (persuasive communication such as advertising and direct sales). Certain marketing activities, such as personal sales, may be classified as promotions or as part of a place element (ie distribution). Some pricing tactics such as promotional pricing can be classified as price variables or promotional variables and therefore also show some overlap.

Other important criticisms include that the marketing mix lacks a strategic framework and therefore does not deserve to be a planning instrument, especially when unmanageable external elements are an important aspect of the marketing environment.

Mods and extensions

To overcome the lack of a 4 P model, some authors suggest extensions or modifications to the original model. Extensions of the four P's include "people", "processes", and "physical evidence" and are often applied in case of marketing services. Other extensions have been found required in retail marketing, industry marketing and internet marketing:

• Industrial or B2B marketing needs to take into account typical long-term contractual agreements in supply chain transactions. Relationship marketing tries to do this by looking at marketing from the perspective of long-term relationships rather than individual transactions.
• Marketing services need to take into account the unique service characteristics (i.e. intangibility, perishability, heterogeneity and indivisibility of production and consumption). To recognize the particular challenges involved in the sale of services, compared to the goods, some authors advocate extending the 7th Ps model to the service industry by adding; Process - how to order handling, satisfied customers and services delivered; Physical Evidence - is clear evidence that customers use to interact and with potential impact on customer service experience; People -service personnel and other customers with whom customers interact and form part of the overall service experience.

• Retail marketing needs to take into account the unique aspects of a retail store. A number of authors argue for the inclusion of two new Ps, namely, Personnel and Presentations because this contributes to the customer's unique retail experience and is the main basis for retail differentiation. Some experts also recommend adding Retail Formats (ie retail formulas) as they contribute to customer expectations. A modified retail marketing mix is ​​often called <6 Ret retail ps .
• Internet marketing presents marketing and expert practitioners with special challenges including: customer empowerment, new communication modes, real time interactivity, access to global markets, high levels of market transparency, and difficulty maintaining a competitive advantage. While some experts argue for an expanded marketing mix for internet marketing, most argue that a completely new model is needed.
• Some authors quote P - Packaging - this is considered by many to be part of Products , but in certain markets (Japan, China for example) and with certain products ( perfumes, cosmetics) the packaging of a product has a greater importance - perhaps even from the product itself.

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Environment

The term "marketing environment" relates to all factors (whether internal, external, direct or indirect) affecting corporate marketing decisions/planning. The company's marketing environment consists of three main areas:

• Macro environment, where companies hold little control
• A micro-environment, in which a company holds a greater (though not necessarily total) amount of control
• The internal environment, which includes factors within the company itself

Macros

A company's macro marketing environment consists of various external factors that manifest on a large scale (or macro). This is usually an economic, social, political or technological phenomenon. A common method for assessing a company's macro environment is through PESTLE analysis (Political, Economic, Social, Technological, Legal, Ecological). In PESTLE analysis, the company will analyze the problems of national politics, culture and climate, major macroeconomic conditions, health and indicators (such as economic growth, inflation, unemployment, etc.), social trends and nature of technological impacts on society and business processes in society.

Micro

The microenvironment of a company consists of factors relating to the company itself, or stakeholders closely related to the company or company.

The company's micro environment typically includes:

• Customers/consumers
• Employees
• Suppliers
• Media

Unlike the macro environment, organizations hold more control over these factors.

Internal

The internal environment of the company consists of factors within the actual company. These are factors that are controlled by the company and they affect the relationships that the company has with its customers. These include factors such as:

• Workers
• Inventory
• Company Policies
• Logistics
• Budget
• Capital Assets

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Research

Marketing research is a systematic process of analyzing data involving doing research to support marketing activities, and interpretation of statistics from data to information. This information is then used by managers to plan marketing activities, measure the nature of the company's marketing environment and to obtain information from suppliers.

Differences must be made between the marketing research and market research. Market research deals with research in a particular market. For example, a company can conduct research in target markets, after selecting the appropriate market segment. Instead, marketing research is concerned with all the research done in marketing. Market research is part of marketing research.

Marketing researchers use statistical methods (such as quantitative research, qualitative research, hypothesis testing, Chi-square tests, linear regression, correlation coefficients, frequency distributions, Poisson and binomial distributions, etc.) to interpret their findings and transform data into information.

Research process

Marketing research covers several stages, including:

• Specify a problem
• Develop a research plan
• Collect data
• Interpret data into information
• Disseminate information formally in report form

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Segmentation

Market segmentation consists of taking the total heterogeneous market for a product and dividing it into several sub-markets or segments, each of which tends to be homogeneous in all significant aspects.

Destination

Market segmentation is done for two main purposes, including:

• Better company limited resource allocation
• To better serve the more diverse tastes of modern consumers

The company has only a limited number of resources. Thus, it must make choices (and appreciate related costs) in serving a particular consumer group.

Moreover, with more diversity in modern consumer tastes, the company notes the benefits of serving many new markets.

Overview

Segmentation steps are Segments, Goals, Positions (abbreviated STP).

Segment

Segmentation involves the initial segregation of consumers into people like needs/desires/appetites.

Four commonly used criteria are used for segmentation, which include:

• Geographic (country, region, city, city, etc.)
• Psychographic (eg personality or lifestyle traits that affect consumer behavior)
• Demographics (e.g., age, gender, socio-economic class, education, etc.)
• Behavior (e.g. brand loyalty, usage level, etc.)

Target

Once the segment has been identified, the company must ascertain whether the segment is beneficial for them to serve.

The acronym DAMP (which means Can Be Fixed, Accessible, Measurable and Beneficial) is used as a criterion to measure the feasibility of the target market. The elements of DAMP are:

• Can Be Fixed - how segments can be distinguished from other segments.
• Accessible - how a segment can be accessed through Marketing Communications produced by a company
• Measurable - can the segment be quantified and its size determined?
• Good thing - can an adequate return on investment be obtained from segment services?

The next step in the targeting process is the level of differentiation involved in segment presentation. There are three differentiation modes, which are generally applied by the company. This is:

• Can not be distinguished - where companies produce similar products for all market segments
• Differentiated - where the company generates a slight product modification within the
segment
• Niche - where an organization forged a product to meet a specific target market

Position

Positioning is about positioning the product in the minds of consumers and informing what attributes differentiate it from competitors' products.

Companies often do this by generating a perceptual map, which shows similar products produced in the same industry according to how consumers perceive their price and quality. From product placement on the map, the company will adjust its marketing communications to adapt to product perceptions among consumers, and its position among competitors' offerings.

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Communications

Marketing communications are audience-centered activities designed to engage audiences and promote responses. This is determined by the actions the company takes to communicate with end users, consumers, and external parties.

Marketing communications cover four different subsets:

Personal sales

Oral presentations given by salespeople approaching an individual or a group of potential customers:

• Direct and interactive connections
• Personal interests
• Attention and responses
• An interesting presentation
• Clear and thorough.

Sales promotion

Short-term incentives to drive product purchases:

• Instant appeal
• Anxiety to sell

Examples are coupons or sales. People are given incentives to buy, but this does not build customer loyalty or encourage repeat purchases in the future. The main disadvantage of sales promotion is that it is easily copied by competition. It can not be used as a continuous source of differentiation.

Public relations

Public relations (or PR, as acronyms) is the use of media tools by companies to promote goodwill from the organization to target market segments, or other consumers of a company's goods/services. PR stems from the fact that a company can not attempt to destroy or inflame its market base, because it causes less demand for goods/services. Organizations conduct homework to convince consumers, and to prevent negative perceptions of it.

PR can reach:

• Interview
• Greetings/Presentations
• Company literature, such as financial reports, brochures, etc.

Publicity

Publicity involves the achievement of space in the media, without having to pay directly for such coverage. For example, an organization may have new product launches covered by a newspaper or TV news segment. This benefits the company in question for making consumers aware of its products, without having to pay for newspapers or television stations to close the event.

Ads

Advertising happens when companies pay for media channels directly to publish their products. Common examples of this include TV and radio ads, billboards, branding, sponsorships, etc.

Mix

The marketing communications mix is ​​used to reach out, engage, engage audience-focused conversations. It consists of 5 tools, namely 1) Advertising, 2) Sales & amp; Promotion, 3) Public Relations, 4) Direct Marketing and 5) Personal Sales. The types of enhanced messages can be 1) Information, 2) Emotional, 3) User-created, or/and 4) Brand content. The last major component of the MC mix is ​​Media, which corresponds to the channel used to send the message. Media is divided into 3 categories, and this is media by 1) Form, 2) Source and 3) Functionality.

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Planning

Area marketing planning involves forging plans for corporate marketing activities. The marketing plan can also be related to a particular product, as well as the overall marketing strategy of the organization.

In general, the organization's marketing planning process comes from its overall business strategy. Thus, when top management is preparing the company's strategic direction/mission, the intended marketing activities are incorporated into this plan.

Process

In the overall strategic marketing plan, the process stages are listed as follows:

• Mission Statement
• Company Objectives
• Marketing Audit
• SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
• Assumptions arising from Audit and SWOT analysis
• The purpose of marketing comes from the assumption
• Estimate expected results from destination
• Identify alternate plan/mix
• Budgeting for a marketing plan
• First year of application program.

The level of marketing goals in an organization

As stated earlier, the company's senior management will formulate general business strategies for the company. However, this general business strategy will be interpreted and applied in different contexts throughout the company.

Company

The company's marketing objectives are usually broad, and relate to the company's general vision in the short, medium or long term.

For example, if someone describes a group of companies (or conglomerates), top management can state that sales for a group should increase by 25% over a ten-year period.

Strategic business unit

The strategic business unit (SBU) is a subsidiary within the company, which participates in certain markets/industries. SBU will embrace corporate strategy, and familiarize it with industry in particular. For example, the SBU can take part in the sporting goods industry. Thus it will ensure how it will achieve additional sales of sporting goods, to meet the overall business strategy.

Functional

Functional levels relate to departments in SBUs, such as marketing, finance, human resources, production, etc. The functional level will adopt the SBU strategy and determine how to achieve the SBU's own goals in the market.

To use the example of the sporting goods industry again, the marketing department will devise a marketing plan, strategy, and communication to help the SBU achieve its marketing objectives.

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Product life cycle

Product life cycle (PLC) is a tool used by marketing managers to measure the progress of a product, especially with respect to sales or income gained from time to time. PLC is based on several key assumptions, including:

• The products provided will have recognition, growth, maturity, and stepping back
• No products are enduring in the market
• A company must use a different strategy, in accordance with where a product is located in the PLC

Introduction

At this stage, a product is launched into the market. To stimulate sales/revenue growth, advertising usage may be high, to raise awareness of the product.

Growth

Product sales/revenue increases, which can drive more marketing communications to maintain sales. More entrants enter the market, to reap the obvious big profits generated by the industry.

Maturity

Sales of a product begin to flat, and an increase in the number of entrants to the market results in falling prices for the product. Companies can use sales promotions to increase sales.

Decline

Demand for an item begins to fade, and the company may choose to stop making the product. This happens, if revenue for a product comes from efficiency savings in production, more than actual sales of goods/services. However, if a product provides a niche market, or completes another product, the product can continue to manufacture the product, although a low level of sales/income is still to be borne.

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Customer focus

Many companies today have a customer focus (or market orientation). This implies that the company is focusing its activities and products on consumer demand. There are generally three ways to do this: customer-driven approach, a sense of identifying market changes and product innovation approaches.

In a consumer driven approach, consumer desire is the driving force behind all strategic marketing decisions. There is no strategy to go through a consumer research test. Every aspect of the market supply, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always a consumer. The reason for this approach is that it is useless to spend R & D funds D to develop products that people will not buy. History proves a lot of products that fail commercial even though it is a technological breakthrough.

This formal, customer-focused marketing approach is known as SIVA (Solutions, Information, Values, Access). The system is essentially four Ps renamed and rewritten to focus on the customer.

The SIVA model provides an alternate version of the request/customer in contact with the well-known 4Ps supply side model (product, price, place, promotion) of marketing management.

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Product focus

In the product innovation approach, the company pursues product innovation, then tries to develop the market for the product. Product innovation drives marketing processes and research done primarily to ensure that profitable market segments exist for innovation. The reason is that customers may not know what options will be available to them in the future so we do not expect them to tell us what they will buy in the future. However, marketers can aggressively pursue excessive product innovation and try to overcapitalize the niche market. When pursuing a product innovation approach, marketers must ensure that they have a varied and multi-tiered approach to product innovation. It is said that if Thomas Edison relies on marketing research, he will produce larger candles than creating a light bulb. Many companies, such as companies that focus on research and development, are successful in focusing on product innovation. Many purists doubt whether this is really a form of marketing orientation at all, because of the ex post status of consumer research. Some even question whether it is marketing.

• An emerging field of study and practice concerns internal marketing, or how employees are trained and managed to brand the brand in a way that positively impacts customer acquisition and retention (branding).
• Innovation diffusion research explores how and why people adopt new products, services, and ideas.
• A relatively new form of marketing using the Internet and called Internet marketing or more commonly e-marketing, affiliate marketing, desktop advertising, or online marketing. It tries to perfect the segmentation strategy used in traditional marketing. It targets a more appropriate audience, and is sometimes called personal marketing or one-to-one marketing.
• With the attention span and steadily declining user willingness to give advertising messages time, marketers turn to perm marketing forms like branded content, custom media, and reality marketing.
• Use of group behavior in marketing.

The Economist reported a recent conference in Rome on the issue of adaptive human behavior. It shares mechanisms to increase impulse purchases and get people "buy more by playing in the herd instinct." The basic idea is that people will buy more products that look popular, and some feedback mechanisms to get product popularity information to consumers are mentioned, including smart bass technology and the use of Radio Identification Identification Tag technology. The "swarm-moves" model was introduced by Florida Institute of Technology researchers, who appealed to supermarkets for being able to "increase sales without discounting others."

Marketing is also used to promote business products and is a great way to promote business.

Other recent research on "the power of social influences" includes "an artificial music market where about 14,000 people download previously unknown songs" (Columbia University, New York); Japanese supermarket chains that order their products based on "sales data from department stores and research companies;" a Massachusetts company that exploits social networking knowledge to increase sales; and online retailers are increasingly telling consumers about "which products are popular with like-minded consumers" (eg, Amazon, eBay).

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See also

Marketing type

Marketing orientation or philosophy

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References

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Bibliography

• Bartels, Robert, History of Marketing Thinking, "Columbus, Ohio, Grid, (1976) 1988 online
• Christensen, Clayton M. (1997), Innovator dilemma: when new technology causes big companies to fail, Boston, Massachusetts, USA: Harvard Business School Press, ISBN 978-0-87584-585-2. (edit)

• Church, Roy and Godley, Andrew (eds), Occurrence of Modern Marketing, London, Frank Cass, 2003 online edition
• Hollander, Stanley C., Rassuli, Kathleen M.; Jones, D. G. Brian; Dix and Farlow, L., "Periodization in Marketing History," Macromarketing Journal, Vol 25, no.1, 2005, pp 32-41. online
• Tedlow, Richard S., and Jones, Geoffrey G. (eds), The Rise and Fall of Mass Marketing, Routledge, 2014
• Weitz, Barton A. and Robin Wensley (eds). Marketing Handbook, 2002

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External links

• The dictionary definition of marketing in Wiktionary
• Quotes related to marketing on Wikiquote
• Marketing on Wikibooks

Source of the article : Wikipedia