Marketing and Its Role for Business

Marketing is a process used by companies to promote products or services to consumers with the aim of increasing sales and corporate image. It uses various strategies to communicate the value offered by products or services to consumers in an attractive and convincing way.

To understand more about marketing, we have summarized it for you, containing definitions, functions, strategies, and their types. This article will provide a more detailed explanation of how marketing can help companies achieve their business goals and how to develop an effective marketing strategy. So what are you waiting for,let’s read the article to the end!

What is Marketing?

Marketing is an art and science that aims to determine the needs and wants of customers, and create value for customers and companies by promoting and selling products or services to potential customers. In carrying out its activities, companies must understand the needs and desires of customers, and develop appropriate strategies to meet these needs. This process includes identifying consumer needs and wants, creating products or services that meet those needs, and promoting and selling these products or services to the right consumers.

What is the Function of Marketing for Business?

The marketing functions for businesses are:

1. Market Research

This function involves gathering information about potential customers, competitors and the market as a whole.

2. Product Development

This function involves developing new products or modifying existing products according to customer needs and wants.

3. Pricing

This function involves setting appropriate prices for the products or services offered, which must take into account production costs, desired profits, and customer price preferences.

4. Promotion

This function involves various means of conveying marketing messages to potential customers, such as advertising, public relations, and sales promotions.

5. Distribution

This function involves choosing a way to deliver products or services to customers, such as through a retail store, e-commerce, or distributor.

6. Customer Handling

This function involves various ways of establishing good relationships with customers, such as providing good customer service, solving customer problems, and providing after-sales support.

What are the Benefits of Marketing for Business?

Following are the benefits of marketing for business:

1. Helping Companies Achieve Business Goals

First,assisting a company in achieving its business goals, which are usually related to profits and growth. In addition, it also assists companies in determining customer needs and wants, and developing appropriate strategies to meet these needs.

2. Increasing Brand Awareness

Second, increase brand awareness (brand awareness) company among potential customers. By upgradingbrand awareness, the company can improve brand image in the eyes of customers.

3. Increase the Number of Customers

Furthermore, to increase the number of company customers by attracting new customers and retaining existing customers. Thus, the company can expand its market reach and increase market share.

4. Increase Customer Satisfaction

Next, to upgradecustomer satisfaction by providing products or services according to the needs and desires of customers. Thus, companies can create customer loyalty and reduce churn rates (customers switching to other companies). In addition, high customer satisfaction can also help companies improve their brand image in the eyes of customers.

5. Increase Income And Profits

The ultimate goal is to increase the company’s revenue and profits. By understanding the needs and wants of customers, companies can create products or services that customers want.

What are the Marketing Strategies?

Here are a fewmarketing strategy in business:

1. Market Segmentation

This strategy involves dividing the market into customer groups based on characteristics such as age, gender, geographic location, and income level. Once the market is segmented, the company can develop appropriate marketing strategies for each customer group.

2. Targeting Market

After determining the customer groups to target, the company can develop appropriate marketing strategies to attract these customers.

3. Differentiation

This strategy involves developing products or services that have advantages that are visible to customers, so that the company can differentiate these products or services from competitors.

4. Positioning

This strategy involves placing a product or service in the mind of the customer in a way that matches the merits of the product or service.

5. Promotion

This strategy involves various ways of conveying marketing messages to potential customers, such as advertising, public relations and sales promotions.

6. Price

This strategy involves setting appropriate prices for the products or services offered, which must take into account production costs, desired profits, and customer price preferences.

7. Distribution

This strategy involves selecting ways to deliver products or services to customers, such as through retail stores, e-commerce, or distributors.

What are the Marketing Duties in Business?

The following are some marketing tasks in business:

1. Market Research

This task involves gathering information about customer needs, wants, and behavior. This information is then used to develop an effective marketing strategy.

2. Product Marketing

This task involves developing strategies for conveying marketing messages to potential customers, such as using advertising, public relations, and sales promotions.

3. Sales

This task involves the process of selling products or services to customers, including identifying sales opportunities, managing customer relationships, and completing sales transactions.

4. Service Marketing

This task involves developing a strategy to convey marketing messages to potential customers about the services the company offers.

5. Customer Relations

This job involves developing and maintaining good relationships with customers by providing good customer service and solving problems faced by customers.

6. Data Analysis

This task involves processing and analyzing data on sales, customer satisfaction, and customer behavior to determine how the company’s current marketing strategy can be improved.

How Does Marketing Work?

How marketing works consists of several stages, including:

1. Determine the Target Market

The first stage, conducting market research to determine consumer needs, preferences, and behavior. This can be based on factors such as age, gender, income, geographic location or interests.

2. Determine the Marketing Strategy

After determining the target market, the company must develop the right strategy to reach these customers. This could include using print or television advertising, promoting products through social media or the internet, or promoting directly to customers through events or exhibitions.

3. Product or Service Marketing

After knowing consumer needs, companies must develop appropriate marketing strategies to sell these products or services. This includes determining the right price, determining the right distribution channels, and developing an effective promotional campaign.

4. Selling Products

After advertising the product, the company must sell the product to the customer. This can be done through retail stores, e-commerce, or through sales agents.

5. Long Term Marketing

After selling products or services to consumers for the first time, companies must continue to maintain relationships with consumers and continue to develop marketing strategies to maintain and increase sales in the future. This includes running loyalty programs, offering special promotions, and conducting direct marketing to existing customers

What Skills Do Marketing Need To Have?

The following are some of the skills a marketer needs to have:

1. Analytical Ability

Analytical ability is an important skill for a marketer because it helps them understand consumer needs and preferences, and identify opportunities and challenges in the market. To develop analytical skills, agents must understand how to collect relevant data and use the right analytical tools to analyze it. This capability also helps to evaluate marketing results and develop more effective strategies in the future.

2. Communication Skills

Communication skills are the ability to convey information effectively both orally and in writing. This is an important skill because it helps them communicate with customers, team members and other colleagues in an effective way.

To develop communication skills, agents must understand how to convey messages clearly and precisely to their audience. They must also be able to actively listen and understand the opinions of others and build good relationships with consumers and other colleagues. This ability also helps to make proposals and presentations that are interesting and influence the audience.

3. Creative

Creative ability is the ability to develop unique and interesting ideas to market products or services. To develop creative abilities, agents must understand how to find inspiration and develop innovative ideas. They must also be able to express these ideas visually or verbally in an interesting and engaging way for their audience. This ability also helps marketing to create marketing campaigns that stand out and help companies gain a competitive advantage.

4. Negotiation Ability

Negotiation ability is the ability to make attractive offers for consumers and help reach a profitable agreement for the company.To develop negotiating skills, agents must understand how to find out consumer needs and preferences, and know how to offer attractive solutions to consumers. This ability also helps to manage conflict and find the best solution for all parties involved in the negotiation process.

5. Digital Marketing Capabilities

Digital marketing capability is the ability to use digital technology to market products or services. Because it helps them promote their products or services to a wider audience via the internet. To develop digital marketing skills, agents must understand how to use various digital platforms such as social media, email marketing, and SEO to promote their products or services.

6. Ability to Solve Problems

Problem solving ability is the ability to analyze problems that occur and develop appropriate solutions. To develop problem-solving skills, agents must understand how to identify problems that occur and evaluate the factors that influence these problems. They must also be able to develop appropriate solutions by considering the various options available and evaluating the advantages and disadvantages of each option. This capability also helps marketing to manage crises and find the best solution for the company.

7. Ability to Cooperate

The ability to work in a team is the ability to work together with other team members to achieve common goals. To develop the ability to work in teams, agents must understand how to work with others effectively and build good relationships with other team members. They must also be able to contribute positively to the team and understand the roles and responsibilities of each team member. This ability also helps marketing to manage conflicts that may occur within the team and find the best solution for all parties involved.

What are the Types of Marketing?

The types of marketing, namely:

1. Product Marketing

The first goal is to increase product sales and improve the company’s image in the eyes of consumers. To achieve this goal, a marketer must understand the needs and preferences of consumers. Examples of product marketing are promoting electronic products by showing the excellent features that these products have, or promoting food products by showing delicious recipes that can be made using these products.

2. Service Marketing

Service marketing is a type that aims to promote the services offered by the company to consumers. An example is promoting a home cleaning service by showing the benefits derived from the service, or promoting a business consulting service by showing the results that have been achieved by previous customers.

3. Marketing B2B

B2B (business-to-business) marketing is a type of marketing that aims to promote products or services to other companies as customers. An example of B2B marketing is promoting printing machine products to printing companies by showing the benefits to be gained from using these products, or promoting delivery services to e-commerce companies by showing a high delivery success rate.

4. Marketing B2C

B2C (business-to-consumer) marketing is a type of marketing that aims to promote products or services to individual consumers. The purpose of this B2C marketing is to increase the number of consumers who use the products or services offered and improve the company’s image in the eyes of consumers. Examples of B2C marketing are promoting clothing products by showing models who use these products, or promoting health care services by showing the modern facilities available.

5. Marketing Online

Online marketing is a type of marketing that uses digital technology such as social media, email marketing, and SEO to promote products or services. Examples of online marketing are promoting products through advertisements on social media, or sending emails offering discounts to registered customers.

6. Marketing Offline

Offline marketing is a type of marketing that uses traditional media such as advertisements on television, radio and newspapers to promote products or services. Examples of offline marketing are promoting products through advertisements on television, or placing banners in places that are crowded with consumers.

7. Marketing Direct Marketing

Direct marketing is a type of marketing that uses methods such as telemarketing, direct mail, and direct promotions to promote products or services to consumers. The purpose of this direct marketing marketing is to increase the number of consumers who know about the products or services offered and improve the company’s image in the eyes of consumers. An example of direct marketing marketing is promoting a product via telemarketing, or sending brochures.

8. Marketing Indirect Marketing

Indirect marketing is a type of marketing that uses methods such as events, banners and exhibitions to promote products or services to consumers. To achieve this goal, a marketer must understand how to use various indirect marketing methods effectively and understand how to analyze data and measure the results of the indirect marketing strategy used.

How to Improve Marketing in Business?

Marketing is one of the departments that has a major influence on sales. It can be said that marketing becomes the brain of the company to determine the promotion strategy steps. Therefore, it would be much better if you as a businessman use a system to facilitate marketing performance. So that the results of the promotion are right on target and on target.

One of the systems that you can use to help the marketing team is CRM, such as Barantum CRM. CRM (Customer Relationship Management) is an integrated and modern system with the Cloud so that it can store customer data centrally. This data can be used by your marketing team to make it easier for them to find out what the needs and wants of business customers are.

​​