- Last Updated on 21 April 2013
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Every business, from the one person business to the multinational, needs marketing. If you don’t accept that, then that is rock you may perish on.
Marketing consists of all those activities that are associated with product design and planning, pricing, promoting and distribution of the product or service. Some people think that marketing is advertising. Not true. Advertising is only a tiny part of the mix.
There are many definitions of marketing and if you check the web you will find hundreds. Here in The Synergy Group, we have refined all of them to say:
“Marketing is the task of defining the customers’ needs and satisfying those needs, profitably. ”
We don’t believe in theory, unless we can show you how to turn theory into practice. So when we work with you, we will hold your hand the whole way.
The task starts with identifying consumer needs and does not end until feedback on consumer satisfaction from the product is received.
It is a long confusing chain of activity that starts with identifying needs. This includes market research.
It then moves into product design. This is, perhaps, one of the most misunderstood and confusing parts of the process. How do you create a product out of an intangible? Even if you can see, feel and touch it, how do you create a product? Even big companies make mistakes. Look at Guinness Light, Betamax, New Coke, Apple Lisa, DeLorean, Ford Edsel, Laker Skytrain, Tucker Automobiles, Enron, Polaroid, Commodore Computers, PanAm, etc. Small businesses and startups can’t afford to make mistakes. You have one shot at it.
Then you have to surround it with your operational infrastructure – in other words, you have to make it work. Sounds simple! It’s not.
Next, you move on to production, packing, promotion, pricing, distribution and then the selling. Consumer needs become the guiding force behind all these activities. Profits are not ignored but you build them up on a planned basis. Perception is very important here.
‘The difference between selling and marketing is more than semantic. A truly marketing minded firm tries to create value satisfying goods and services which the consumers will want to buy. What it offers for sale is determined not by the seller but by the buyers. The seller takes his cues from the buyer and the product becomes the consequence of the marketing effort, not vice versa. Selling merely concerns itself with the tricks and techniques of getting the customers to exchange their cash for the company’s products. It does not bother about the value satisfaction that the exchange is all about. On the contrary, marketing views the entire business as consisting of a tightly integrated effort to discover, create, arouse and satisfy customer needs’.
- Marketing means satisfying all customers’ needs and wants. Satisfying efforts concerned with design, planning, pricing, product, promoting product and services and distribution.
- Marketing brings importance to the satisfaction of consumers’ needs and wants effectively.
- Marketing in its initial stage decides what consumers want. Secondly, it decides how the commodity can be profitably produced and finally delivered to consumers for satisfying their needs.
- Marketing has to take into consideration both the internal and external factors.
- Efforts are buyers oriented and emphasise the satisfaction of the needs of buyers effectively.
- If refers to integrated approach towards achieving objectives.
- Profit is sought by ensuring customers satisfaction.
- Marketing is a comprehensive term, which includes selling, advertising and also the distribution of goods.
- Consumer determines price, price determines cost.
- Marketing views the customer in business as the very purpose of the business.
What The Synergy Group can do for you
- Help you in the marketing of new products and existing ones.
- Generate feasibility studies, sales projections etc.
- Research in to the market, share you aim to get, competitors in the same area as yourself, how you’re going to compete.
- Identify the needs not being met and how to promote your product that meets those needs.
- Pricing, distributing, and promoting products and services to produce a profit.
- Learn the importance of Marketing Segmentation, Life Cycle Extensions, Product Positioning etc.
- Acquire the Skills, Tools and Techniques to Identify, Evaluate and Solve Marketing Problems.
- Learn How to Maximise Sales Force and Distributors.
- Define Marketing and Understand Why It Is the Engine Driving All Business Strategy Today.
- Conduct analysis, e.g. SWOT, PEST, CATSWOE, etc.
- Define the Role of a Marketing Manager in Setting the Strategic Direction of the Company.
- Understand How Marketing Fits into the Organisation.
- Embrace and Apply the Key Dimensions of Marketing.
- Comprehend your market and customer.
Call The Synergy Group to get a free overview of your situation and we will advise you on a way forward. Then, if you wish, we will hold your hand to make sure it works.
T: +353 1 8215189
F: +353 1 8215191
M: +353 87 2326927