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Supply Chain Distribution Management |
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Marketing Strategies
A company that is market oriented first figures out who its customers will be, then build their products or services around that market group. Marketing theory has it that a specific customer uses a product or service because he or she has a particular need, and that by using that product or service their needs will be fulfilled.
In the realm of supply chain management, marketing focuses on two specific tasks: recruiting new clients and retaining and expanding relationships with current clients. The former task is called acquisition, while the latter is referred to as base management.
Once the marketer has succeeded in acquiring a new purchaser, then it is time for base management to take over. This second half of the marketing process ensures that a relationship is established between the firm and the client, that the relationship is nurtured, and that the benefits that led the client to make a purchase in the first place are not simply discarded but heightened. The product or service that is being offered should be continually improved in order to maintain a successful relationship with the client.
Marketing entails expertise in many branches of the social sciences, such as economics, psychology, and sociology. Even anthropology, to a certain extent, can be useful for those entering the field of marketing. Many of the creative arts are also involved in marketing, particularly in the advertising branch.
Marketing is said to focus on the four P’s: Product, Placement, Pricing, and Promotion. This mixture of different facets should be planned out in advance to reflect the needs of the customers in the target group. Do not bother trying to persuade a particular marketing group to purchase something that they do not want – to do so is a waste of time, as it rarely succeeds. Using knowledge gleaned via market research, one can come up with a quality marketing plan that will teach you both what people want and how to provide it, not to mention how much you can earn from it. Via marketing management, everything that you have learned is then applied to the target group.
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