Lady Yaz
|
In a nutshell, marketing is taking a product from creation to consumer. A good marketer will be a person who has a solid understanding of the product, the market place, business planning and an ability to work with and motivate diverse groups of people (in a large corporation) or the ability to wear many hats (in a one-man op). For the sake of this exercise I'll be addressing the former. The same principles apply on a smaller scale to the latter. Also, I'll be talking to the development of a consumer product. The development of a service product will - by the nature of the beast - be slightly different. The same general principles apply to both.
DEVELOPMENT: Working with R&D on the creation of a product.
BUSINESS PLANNING: Identifying the unique/primary product characteristics, identifying the target customer (based on professional experience and Market Research input), establishing a POSITION for the product that based on characteristics and target market.
PROMOTION: Working with agency/in-house advertising, development of an in-store promotional calendar, development of a public relations campaign (with press kits, presentations, special events), development of awareness creating efforts (coupons, samples, etc.)
FINANCIAL: Development of a product forecast (much of which will be impacted by the promotional efforts), development of P&L and Cash Flow Statements (based on sales forecasts).
CREATIVE: Working with designers and copywriters to develop everything from packaging to display materials and "themed" events, etc.
LEGAL: Working with legal to ensure validity of all product and advertising claims.
SALES: Providing sales force with A) a clear reason d'etre for the product, and B) tools with which they can place the product with retailers as well as ensure sell-through to consumer (eg, display materials, customer incentives).
PRODUCTION: Working with vendors and overseeing the timely production of product, product packaging, promotional materials, advertising artwork, etc.
You'll have noted that there is a lot of overlap between areas. A good business plan will address all of these effectively. The marketing executive is responsible for all aspects of that development and delivering a bottom line to the corporation. |
vidhya sagar
 |
From the words of the marketing guru Philip Kotler, " marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others."
In other words, marketing starts from the process of creating the product (from idea generation) and ends when the product reaches the customer for which the customer has to pay. |
hi_babuli
 |
in my view Marketing...is about attracting consumers from competitors, creating awareness among non-users and retaining own customers by stimulating more usage through customer loyality through customer satisfaction by way of of product, price, placement & promotion and finally profitably. |
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