Marketing is the process of teaching customers about a product and service of companies. When a customer learns about a particular product or service of a company, it is up to them whether to go ahead with the purchase. The definition of marketing is wide and requires time since it involves the art of pursuing and convincing the customer in order to purchase the product. Moreover, marketing involves various purposes such as understanding and getting attention of targeted customers, persuade and then convince the customer to buy your product and offering some sense of security in the minds of the customer to buy.
Marketing is usually focused on selling of products and services to customers. With proper planning and decision making, the company can expect profit if things are done properly. Marketing can go smoothly based on 4 stages. The stages are as follows.
- Ideation – Idea for product or service before launching is absolutely crucial. It is important for the company to come up with various factors based on the product for the customer.
- Research and Testing – Research and testing is about understanding the reliability of a particular product. The company needs to ensure that the quality of the product matches the style and expectation of the customer.
- Advertising – As the name suggests, companies need to advertise their products in order to reach the eyes, ears and minds of the customers.
- Selling – The sales of the product depend on where and how the company sells. The company may deal only with wholesalers or retailers or directly with the customer. However, proper planning is required.
The company must also be investing in management training courses for their employees in order to get the work done on time in a smooth manner.