Marketing

Marketing is an important functional area of management that involves activities undertaken by an organisation for the promotion of buying and selling of a good or service. The meaning of marketing is different in the traditional sense and modern sense.

In the traditional sense, it means the performance of business activities directing the flow of goods and services from manufacturers to consumers. In simple terms, the traditional meaning of marketing focuses on selling a good after it has been manufactured. In the modern sense, marketing means a social process through which an individual gets what he/she wants by creating offerings and the free exchange of products and services with others. 

According to the American Marketing Association, “Marketing is the performance of business activities that direct the flow of goods and services from producer to consumer or user”.

According to Philip Kotler, “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with other”.

Topics in Marketing

1. Marketing: Features and Functions
2. Meaning and Elements of Marketing Mix
3. Marketing Management Philosophies
4. 5 Steps of Marketing Process
5. Difference between Selling and Marketing
6. STP – Segmentation, Targeting, and Positioning
7. Business Buyer Behaviour: Meaning and Types
8. 8 Steps of Business Buying Process
9. Types of Buying Decision Behaviour
10. Buyer Decision Process
11. Consumer Behaviour: Concept and Major Factors Influencing Buying Behaviour
12. Steps of Designing a Customer-Driven Marketing Strategy
13. Personal Selling: Steps in the Creative Selling Process
14. Types of Wholesalers
15. Product Life Cycle (PLC) | Stages and Case Study of Apple
16. New Product | Concept, Importance and Challenges
17. Five Product Levels
18. 8 Stages of New Product Development Process
19. Difference between Branding and Packaging
20. Unique Selling Proposition | Full Form of USP, Types and Example
21. Changing Marketing Landscape
22. Marketing Research: Meaning, Scope and Uses
23. Methods of Marketing Research
24. 7 Stages in Marketing Research Process
25. What is Search Engine Marketing and How it Works?
26. Internet Marketing : Meaning, Types and Internet Marketing Strategy
27. Performance Marketing : Meaning, Types, Strategy, Benefits & Examples
28. Multilevel Marketing (MLM) : How it Works?
29. Affiliate Marketing – Working, Types, Advantages & Disadvantages
30. Service Marketing – Types and Marketing Strategies for Service Firms
31. Agricultural Marketing: Meaning, Measures, Defects and Alternate Marketing Channels
32. Vertical Marketing System | Types, Benefits and Drawbacks
33. Horizontal Marketing System: Meaning, Types and Advantages
34. Difference between Vertical Marketing System and Horizontal Marketing System
35. What is Content Marketing? |Types, Importance & Strategies
36. Steps of Content Marketing
37. Marketing Intelligence | Concept, Significance, Types and Uses
38. Marketing Logistics | Meaning, Functions, and Components
39. Marketing Environment: Features and Types
40. 8 Green Marketing Strategies for a Sustainable Future
41. Pricing | Objectives, Importance, Factors and Pricing Strategies
42. Types of Pricing Methods
43. Pricing Strategy for New Products
44. Price Adjustment Strategies
45. Basis for Market Segmentation
46. Steps in Market Segmentation
47. Market Targeting Strategies
48. Benefits of Market Segmentation
49. Levels and Patterns of Market Segmentation
50. 4 Steps to Build Strong Brands
51. Do’s and Don’ts of Logo Design
52. Marketing Channels: Concept, Importance, Levels and Types
53. Promotion | Types, Importance and Characteristics
54. Stages of Consumer Adoption Process
55. Channel Design Decision: Meaning, Importance, and Steps
56. Stages of Consumer Adoption Process
57. International Marketing | Features, Scope and Significance
58. International Marketing Research | Meaning, Significance and Process
59. Problems and Challenges to International Marketing
60. International Advertising| Meaning, Objectives and Challenges Involved
61. Sales Interview Questions and Answers

Benefits of Studying Marketing

• Helps in Gaining adaptable skills.
• Helps in a variety of industries.
• Helps in a gathering and analysing market information.
• Helps in influencing decisions of individuals or groups.
• Helps in understanding how to influence decisions.
• Helps in communication skills.
• Helps in understanding other people.

What will you do as a Marketing Professional?

• Implementing strategy: The main function of a Marketing Professional is to implement strategy that outlines how the marketing team will support business goals. You help implement this strategy via prioritized activities on the marketing roadmap.
• Gathering and analysing market information: Collecting adequate, reliable and timely market information about the market is one of the most important functions of a marketer. It involves studying market conditions, to determine needs, priorities and preferences of the customers. The main motive behind gathering and analysing the market is to identify products and services which lead to customer satisfaction.
• Market planning: After gathering and analysing the market information, a Marketing Professional is required to develop plans according to the market conditions so that marketing objectives can be achieved. Making plans for increasing production level, plans for promotion, etc. are included in market planning.
• Creating programs and campaigns: Various marketing campaigns are run by Marketing professionals that align with the company’s strategic objectives.
• Coordinating cross-functional teams: One of the most important function of a Marketing professional is to provide cross-functional leadership. As a Marketing professional you are required to keep everyone informed of the marketing plans. And all the internal marketing-related questions or requests are also handled by the Marketing Professional.
• Product planning and development: The main aim of a product is to satisfy the needs and wants of people. If the product satisfies the needs and wants of people, then it is said to be successfully marketed. All the decisions regarding feature, shape, size, etc., are involved in product planning and development. Unique design, features, colour, etc., make a product attractive and more demanding.

Marketing Careers

1. Social media coordinator

• Social media coordinator plan, develop, manage and coordinate social media campaigns on different social media platforms as per client or company requirements.
• Creates and curates relevant and engaging text, video, audio and visual content for their clients. 

2. Marketing executive

• This role requires developing, implementing and overseeing sales strategies and campaigns to promote brands, services and products. 
• Conducting market research, monitoring consumer trends, tracking marketing data and creating sales performance reports.

 3. Marketing coordinator

• Functions of Marketing coordinators is planning, budgeting, implementation and coordination of print, broadcast and online marketing campaigns.
• Marketing coordinator also collect customer data to develop marketing strategies and coordinate marketing activities by researching markets, monitoring trends, conducting customer surveys and evaluating competitors. 

4. SEO specialist

• SEO specialist helps in increasing the quality and quantity of web traffic to business websites.
• They conduct content research, assist with content creation and make website architecture recommendations to improve the SEO. 

5. Marketing assistant

• Various administrative tasks related to marketing campaigns, such as gathering marketing data, maintaining databases and communicating with clients are done by  Marketing assistant.
• Tasks such as preparing reports, case studies, white papers, presentations and other marketing materials is performed by Marketing assistant.

 6. Marketing analyst

• Marketing analyst assess market conditions, determine the demand for products and services, evaluate the prices people might be willing to pay for them and identify target customers. 
• Competitive analysis, keeping track of advertising expenses, implementing marketing tools and assisting with client acquisitions is done by Marketing analyst.

 7. Content marketer

• Tasks such as planning, researching, creating and sharing various types of engaging, shareable content on multiple platforms for promotional purposes.
• Content marketer with the help of SEO get their content to rank high in search engine results. 

 8. Digital strategist

• Company’s business goals is identified and appropriate digital marketing strategy is implemented by a Digital strategist.
• Digital strategists work for brand awareness, drive web traffic and increase engagement using various digital assets and SEO techniques, 

 9. Director of marketing

• The marketing department and its daily operations is looked and managed by the director of marketing. Supervising marketing campaigns, conducting marketing research and evaluating marketing strategies are some of the tasks which are performed by Director of marketing.
• Developing pricing strategies and advertising budgets, monitoring returns on investment and providing advice, support and direction to the marketing teams are functions of the directors.

10. Product marketing manager

• The main role of Product marketing manager is developing marketing strategies to promote and sell products. They also conduct market and consumer researches to determine before launching a products in any location.
• Outbound marketing activities like advertising, broadcasting, telemarketing, cold-calling, etc., is done by Product marketing manager to increase brand awareness with the target consumers.

Frequently Asked Questions (FAQs) About Marketing

1. What is the difference between Selling and Marketing?

Selling is a part of the marketing process involving all the personal and impersonal activities involved in finding, securing, and developing a demand for a good or service. Whereas, Marketing is defined as an important functional area of management that involves activities undertaken by an organisation for the promotion of buying and selling of a good or service.

2. What is the salary of marketing professionals in India?

The average salary for Marketing is ₹7,02,449 per year in the India. The average additional cash compensation for a Marketing in the India is ₹1,02,449, with a range from ₹45,367 – ₹3,12,500.

3. What is Market Analysis?

Market Analysis is the process of evaluating various factors and data to understand and make informed decisions about a specific market, industry, or segment. It involves gathering and analysing information related to market size, trends, customer preferences, competition, and other relevant aspects. Key components of market analysis include:

• Market Size: Determining the total addressable (TAM) and identifying the potential customer base for a product or service.
• Market Trends: Examining current and future trends in the market, including changes in consumer behaviour, technology, and industry developments.
• Customer Preferences: Understanding the needs, wants, and preferences of the target customer base.
• Competition: Assessing the competitive landscape, including strengths and weaknesses of existing competitors.

4. Mention 4P’s of Marketing.

• Product: Product is one of the most important functions of marketing. Product comprises tangible and intangible goods and services that organisations/businesses offer to satisfy the needs of customers.
• Price: Price is the value of a product or service passed on by the buyer to the seller. A customer is very sensitive about the price of a product.
• Place: It is essential to make the product or service available to the customer at the right place and at the right time, then only the customer would be able to purchase the product or service. Place is an element of marketing and is a process of transferring goods from the place of production to the place of consumption.
• Promotion: The last element of the marketing mix is promotion, which includes activities undertaken by the marketer to communicate with the customers and distribution channels so they can enhance the sales of the firm.

5. What is the qualification for Marketing Professional?

For a marketing professional, a bachelor’s degree in business, marketing, advertising, communications, or a related discipline is the minimum educational qualification. Many employers may require an MBA with marketing as specialisation.

6. Which companies pay marketing the most?

Companies like Cognizant Technology Solutions, Google, Pacific Dental Services, Boeing, J.P. Morgan Chase & Co, Oracle, etc., pay the most.