Understanding Marketing and Its Purpose in Business

If you work for any marketing role, it can be a little bit difficult to define what marketing is. Marketing overlaps sales, and entails a lot of things. It refers to any actions a company or business takes with the aim of attracting an audience to its products and services, through high quality messages. Marketing aims at delivering a standalone value for prospects and consumers through content, with a long term goal of demonstrating product value, strengthening loyalty of a brand and ultimately increasing sales. The purpose of marketing is to research and analyze your consumers all the time, engage with focus groups, send out surveys and seek answers to underlying questions.

Purpose of Marketing

Marketing is the process of getting people interested in your company’s products and services. This happens through research, analysis and understanding your ideal customer interests. Marketing pertains all aspects of a business, including product development, distribution methods, sales as well as advertising. The fundamental purpose of marketing is to attract consumers to your brand through messaging. Ideally, you work to ensure the message you send out there is useful, helpful and educative to your target audience with the aim of converting consumers into leads.

 

Types of Marketing

When it comes to marketing, there are different types. It is upon the marketer to determine the method that would be most appropriate. All these types of marketing are relevant, and you make a choice based on the method you thing would work best for your target market. Internet marketing refers to campaigns that take place online. The very idea of having a presence on the internet for business reasons is what we call internet marketing. Search engine optimisation is another type. It entails the process of optimising content on a website so that it appears on search engine results. It is used by marketers with the aim of attracting people who perform searches on the internet looking for particular products and services. We also have blog marketing, where you write exciting pieces of content and publish on your blog with the aim of converting readers to buyers.

Marketing and Advertising

Marketing is closely related to advertising, and the two are used interchangeably. Marketing entails product development, market research, product distribution, sales strategy, public relations not excluding customer support. In all stages of business selling journey, marketing is very important. It can happen on various channels and platforms such as social media, and can be very powerful strategy in determining business growth. On the other hand, advertising is just one component of marketing. It is a strategic effort, usually in a paid form, with the aim of spreading awareness of a product or service, as part of a more holistic marketing plan.

Marketing as much been advanced from what we call the 4 Ps of marketing, which entail Product, Price, Place and Promotion. For marketing to take place, you need to have a product you want to promote. You just put a price on your product. There must be a medium or place where the marketing happens and you must come up with promotional strategies to make your marketing effective.

Crucial Strategies for Promoting Team Collaboration

Team collaboration is the cornerstone of any successful business. Collaboration in workplaces leads to increased levels of trust, a more engaged workforce as well as improved performance. Collaborating teams normally deliver 5 times better, because they feel motivated towards a common goal. Despite all known benefits of effective teamwork, it is something most manager do not put a lot of priority on the same. Running a collaborative team environment is not always that easy. It takes a lot of co concerted efforts to integrate teams and other elements to guarantee success. If you are looking to incorporate collaboration in your working space, here are some of the most notable strategies you can use.

Share company mission

You must share company mission over and over again with your team, so that they can have a better understanding on the position of your company. Defining your company mission is the first step towards bringing people together to a common goal and working towards making it happen. Ensure your mission is simple and meaningful, and make it as much compelling as possible. It is your job to give your employees a reason to show up everyday and get passionate about work. Ensure you bring up your mission every time to a point that everyone associated with your business can fully relate to the same.

Communicate your expectations

If your team doesn’t know you want them to work together, then you should not expect the same from them anyway. You need to set your expectations for collaboration as minimum standard. Additionally, even make it part of your onboarding process, so that potential recruits can know what they need to prioritize on. Ensure employee job descriptions include details about their roles as well as roles they are expected to carry out collaboratively. If you can differentiate these, you will be setting clear boundaries between what they should take as personal responsibility and what they should work on collaboratively

Define and communicate team goals

It is important to let your team know what they are expected to do as well as the goals to achieve. A team that is fully aware of their individual as well as collective goals play so well to reduce silos and keep everyone productive. Morning meetings held at the same time help team to understand what they need to do understand of their routine expectations. It is also important to understand and highlight individual strengths. Research has shown that 70 percent of employees quit their roles whenever they feel unappreciated. People will start to look elsewhere if their skills and talents are not fully utilized. When growing a team, you must focus on the specific skills or every person and how to grow them.

It is also very important that you promote a community working environment. A sense of community is crucial for collaborative working environment. When people feel their opinion matters, they are more likely to apply the same more. When people feel, their opinion doesn’t count, they will be more reserved to share their opinions because they are less valued and respected.

 

 

 

 

 

 

Impacts of Brand Management on a Business

If your business was a person, your brand would be its personality. It would define how you introduce yourself to new friends and how you build a trusting relationship with them. Your brand is a living, breathing entity, and it’s your job and responsibility to help it grow and improve. All this is what we call brand management. Creating a brand can be a thrilling experience. As your business scales grows and changes, your brand must follow suit. This guide covers the basics of brand management and will help in equipping you with the tools you need to maintain a fantastic brand experience.

Brand Management

Brand management is the process of managing your brand reputation and improving your audience’s perception of the brand, in a way that builds brand awareness, equity, and loyalty. While branding is the process of building your brand, brand management is the process of monitoring and maintaining it. Your brand is a living, breathing thing, and that means it is constantly changing. Your brand is also suspect to external factors such as news, trends, and current events. In the current world, brands face a lot of pressure from influences such as journalists, influencers, and social media users. Brand management is basically how you take control of your business story.

There are key principles that define brand management. They include the following;

Brand Awareness

Brand awareness refers to how familiar the general public and your target audience are with your brand. Brand awareness is very important because consumers will not be able to engage with or purchase products or services from a brand they are not aware of.

Brand Equity

Brand equity refers to how consumers value your brand, based on the experiences, perceptions, and associations they have. This concept is closely related to brand valuation, which is basically the commercial value of your brand, as perceived by the market. Brand equity is very important because a valuable brand can support higher prices and increase your merit among shareholders, investors, and potential buyers.

Brand Loyalty

Brand loyalty refers to how consistently your customers and followers engage with and purchase from your brand. Your marketing will not necessarily influence this but your customer service department can. All they need to do is to focus on satisfaction and relationship building and doing so can bring customers back from time to time. Brand loyalty is very important because it creates brand ambassadors who do a lot of marketing for you.

Brand Recognition

Brand recognition refers to how well a consumer, ideally in your target audience, can recognize your brand. This can be through elements such as logo, taglines, packaging among others. This happens without seeing your brand name. This concept is related to brand recall, which is the ability to think of a brand without seeing or hearing any branding prompts. Brand recognition is very important because consumers keep your brand top of their minds and are more likely to choose your brand over the competition. Another important element is brand reputation which refers to how the general public perceives the character, status, and quality of your brand.