What is modern marketing?

Over the past 30 years, marketing has undergone many changes and has evolved greatly. Currently, it is no longer enough to simply identify this discipline with advertising or activities that make the client learn about the company and make a purchase.

Marketing is a complex philosophy of company management, which supports the achievement of goals on several levels. Nowadays, it is not only profits, but for example image building among consumers.

Trying to define the areas that marketing covers, I would list the following:

Analysis of the company’s environment, marketing research – verification of the strengths and weaknesses of the company and the competition, monitoring of market trends, studies of consumer behavior and preferences;

Working with the company’s product – adjusting and modifying the item to increase its attractiveness and thus customer satisfaction;

Managing the distribution of goods – selecting the right suppliers and negotiating prices, looking for the most advantageous places of sale;

Promotion of the company and goods – activities related to increasing the company’s profit and reaching the consumer with the offer;

Price planning – setting prices (and permissible fluctuations) on the basis of one of the best strategies for the company;

Many business owners struggle with the problem of trying to organize marketing in the company on their own. Optionally, entrepreneurs hire one person responsible for this area. The multitude of tasks can be overwhelming, and a single employee may not be able to handle all the responsibilities. What is the way out of this situation? In practice, the most common solution is to outsource some or all of the work in particular areas to an external marketing department. Support in the form of several specialists in various fields is much more effective than hiring an employee who knows only the basics of each issue.

What role does the client play in the marketing of a company?

The key role! It is from the customer that the company begins, and with it – the offer. Recall when you started your business, whatever your goal was, you knew that in order to operate efficiently you would need a product that met the needs and expectations of your buyers. 

Before starting marketing activities, we create the so-called customer persona – a sample, representative person, to which we direct and adjust the offer and advertising message. Such characteristics allow us to put ourselves in the role of an average consumer of your products or services. Thanks to this, we can understand what his needs are, what he worries about every day, what decisions he makes, and also think about a solution that will make him happy.

A clarified customer persona allows us to identify the factors that influence their purchasing decisions and satisfy their expectations. Among the key drivers are demographic, psychological, or geographic aspects. We need to know what needs your customers have in order to correctly guide them towards the right solution. 

What role does the product play in marketing an enterprise?

Considered a marketing guru, Philip Kotler author of the book “Marketing” wrote that: “a product is anything that can be offered in the marketplace for attention, acquisition, use or consumption and that is capable of satisfying a desire”. It is the job of every marketer to carefully analyze a product, determine its stage of life in the market, modify its features, and choose an appropriate promotion and sales strategy. 

Let’s take a dog leash as an example. Those who have a pet in their homes know how cumbersome it is to adjust the length of the cord in such a way that the dog does not get tangled in it or pull it on the ground. The author of the idea thought about the features of the product and decided to improve them. This is how the so-called automatic retractable leashes were created.

Working with the product and its features often translates into increased company profits. This is because we meet the needs and expectations of customers. We give them what they ask for by making their lives more comfortable.