Marketing and distribution are two essential processes through which a firm grows and achieves maximum sales and availability of its product or service. Yet, they are two different actions, yet related—connected because marketing creates awareness of a product or service and distribution is the realization that if a consumer wants that product or service at that moment in that location, it will be there. Thus, a comprehensive overlord approach to all micro aspects of both would better a company's potential for successful application of its product or service.
Without a doubt, marketing and distribution are two functions that overlap greatly in a successful business plan. Where marketing is concerned with brand equity, demand, and consumer access for what is being produced, distribution fulfills that accessibility and demand through the easiest and most effective avenues. Yet for the company, focus must be championed from these two functions; where they overlap, champions of the product for the company will create for the consumer increased satisfaction, ease of use and access, and a successful venture. It is much easier to achieve competitive advantages where functions overlap.
Key elements of Marketing:
Target Audience/Consumer Insights:
Marketing begins with the consumer. The better sense you have of your target audience (age, sex, income, buying patterns, etc.) and how they like/want/need the better. Consumer insights are determined through market research (surveys, focus groups, and/or observation of trends) so that the final decision of marketing is based upon what the consumer desires.
Product Development and Positioning:
Products are developed based upon the market research. Positioning is how a product is perceived in the marketplace relative to its competition. Positioning is determined by what's different about a product (Unique Selling Proposition or USP) and how to best market those benefits in the marketplace.
Promotion and Advertising:
After the product enters the marketplace, it needs to be promoted so that people are aware of its existence. This comes from advertising (digital, television, radio, print), social media and influencers, public relations, and content marketing. Promotion creates demand and awareness of the brand.
Pricing Strategies:
Pricing strategies are some of the most important factors in creating market penetration as they gauge profitability vs. what the consumer can afford and what they deem is value expected. Pricing strategies include competitive pricing, premium pricing, and discount price strategies.
Digital Marketing:
Likely the most powerful marketing method available via the internet. From SEO/PPC to email and social marketing, the avenues are endless and highly advantageous. In addition, digital analytics allow firms to measure effectiveness almost instantaneously—and change strategies in an instant.
Sales Strategy and Personal Selling:
Sales is the final element of the marketing mix. Some firms have their own sales force to make a sale, while others rely on the retailers to make the sale. Personal selling is an important avenue by which a sale can be made, especially for more complex or high-end purchasing situations.
Marketing is the attempt by a company to persuade you to purchase—or consent to utilize—their product or service. The marketing process aims for awareness, branding, loyalty, engagement, and conversion. Marketing is being aware of consumer needs, where market demand exists, what competitive products or services exist, and where the company stands in the larger market.
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