What Is Marketing?
Newtopia is the activity that occurs before, during and after the product launch. It aims to identify what consumers want and how to best serve those desires, whether through direct sales, ecommerce or traditional retail distribution channels. It also encompasses the distribution of products and services to consumers, ensuring that they can find them, as well as developing strategies to encourage short-term purchases and brand loyalty over time.
One of the fundamental purposes of marketing is to inform customers about a company’s products or services and why they might need them in their lives. This can include explaining the history of a business and its owners, the value-added characteristics of the product, how it will improve their lives, and more.
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In addition to the inward education of potential customers, marketing can also take an offensive approach and create a long-lasting image for a company. One of the best examples of this is Nike’s “Just Do It” campaign, which paired the company’s slogan with world-class athletes to inspire the competitive spirit in all of us.
Regardless of the type of marketing used, there are a few main components to every effective campaign. These are often referred to as the four Ps of marketing: product, price, place and promotion. Other elements that could be included are market research, public relations campaigns, product development, and merchandising. Having all of these pieces in place can ensure that a campaign has the greatest chance of success, which is why many businesses employ the use of a unified marketing software solution to manage their entire marketing strategy and keep it organized.