Marketing: the definition. Marketing strategies. Goals and objectives of marketing
F. Kotler singled out marketing in a separate specialty. The definition of science also gave it.
The classic interpretation of F. Kotler, professor, the founder of the theory is a type of human activity aimed at meeting the needs, needs through exchange. Strangely enough, what is marketing today is often known only to people directly connected with this field of activity. And non-specialists sometimes have rather vague ideas about this field of work. In addition, it can be said that marketing in a broader sense represents the philosophy of enterprise management, according to which problem solving and customer satisfaction will lead to the goal of marketing - the company's commercial success - and will benefit society.
Obviously, despite the huge amount of interpretations of this term, they are all close to each other in meaning. It is not enough to know only the meaning of the word "marketing".Definition of it will be incomplete, if not separately select the marketing mix. This includes everything that a company can take to increase the demand for its goods and services. Kotler defines the marketing mix as a set of controlled and predicted variable marketing factors, a combination of which the company uses to obtain the desired response from the target market. The components of the marketing mix include price, product, distribution policy and sales promotion. These 4Ps usually reflect trade marketing. The definition of the marketing mix for the service sector will already be broader. It includes people, processes, and the physical environment.
- Profit maximization.Obviously, absolutely all commercial companies define this goal for themselves. Its essence is to maximize the consumption of goods in all acceptable ways, because it will lead to an increase in production, therefore, to an increase in profits.
Caring for consumers.Constant increase in the degree of customer satisfaction with the purchase of goods or consumption of services.Producer's benefit - the consumer, getting the maximum pleasure from the purchase, will purchase this product again, perhaps in greater volume, will share his impressions of the purchase with loved ones. This is customer-oriented marketing, the definition of this term is closely related to such factors as loyalty.
- Providing the widest choice to consumers.This goal is relevant for large companies who are confident that this product will be in demand. Thus, they will be able to fully meet the needs of customers in choosing a product.
- Improving the quality of life of society.It consists of the release of quality products, the expansion of the range, ensuring the affordable value of the goods. It also includes the positive impact of marketing on the environment and culture. This means that the company aims to develop cultural values and improve environmental conditions. That's what marketing is in a broad sense.
- An integrated approach to the study of the market, to achieve the proposed goals of the company. Commercial success is achieved through the use of all the tools of the marketing mix.
- Identify unmet customers and potential demand.
- Assortment planning and pricing.
- Development of a set of measures for the maximum possible satisfaction of current demand for goods and services.
- Development of measures to optimize management.
- Formation of demand.
- Planning and implementation of sales policy.
Marketing functions can be considered individual areas of marketing activity. Depending on the specifics of the company, it is determined which marketing functions should be used and which should not.
- Analytic function.It includes the study of the internal and external environment of the company. This is an analysis of the market, its structure and dynamics; studying the work of competitors and intermediaries; analysis of the behavior of consumers and suppliers of products.
- Product production function.It implies the creation of a new product that reflects the needs of the market as fully as possible and has a sufficiently high competitiveness by studying the market environment.
- Sales function.The marketing system is responsible for creating certain conditions for the sale of a product so that it is always in the right place, in the right quantity and at a certain time.Examples of viral marketing on social networks, for example, can be one way to market a product.
- Management, communication and control functionneeded to reduce the degree of possible risk and uncertainty in the economic activity of the enterprise. This also includes monitoring the implementation of medium- and long-term plans.
Marketing strategies are based on a study of consumer demand, the behavior of competitors and business conditions of the enterprise at a certain point in time, which allow to solve the fundamental tasks of the company, based on the available resources in a changing market situation.
Elements of strategy
Any marketing strategy consists of the following elements:
- Marketing plans for potential consumer markets.
- Justification of the effective position of the product or company in the market.
- Forecast market dynamics.
- Analysis of the potential market.
- Analysis of the competitiveness of the enterprise.
Marketing strategies will be effective when they take into account a variety of indicators, such as: analysis of the market, the external environment, the enterprise.
The implementation of the marketing strategy includes the following steps.
- Comprehensive analysis of the enterprise.
- Analysis of the potential market.
- Assessment of the potential of the enterprise in a particular market.
- Study the industry.
- Comprehensive analysis of competitors.
- Analysis of the possible impact on the project of external factors.
- Marketing audit of the internal environment.
- Conduct and control of marketing activities.
The marketing strategy of each enterprise depends on its goals (retention or conquest of a market segment, pursued product policy, demand formation). Depending on the need to maintain their part of the market or to conquer a new segment, there are distinguished strategies of retention, offensive and retreat. The attacking strategy provides for an active position of the company in increasing its market share. The retention strategy is responsible for maintaining the firm’s market share. The retreat strategy, as a rule, is forced and consists in the gradual winding up of business in this segment.