Marketing is a societal process that is needed to discern consumers' wants; focusing on a product/service to those wants, and to mould the consumers towards the products/services. Marketing is fundamental to any businesses growth. The marketing teams (Marketers) have the task to create the consumer awareness of the products/services through marketing techniques; if a business does not pay attention to their products/services and their consumers' demographics, the business would not be able to endure longevity.
Marketing tends to be seen as a creative industry, which includes advertising, distribution and selling. It is also concerned with anticipating the customers' future needs and wants, often through market research.
A market-focused, or customer-focused, organization first determines what its potential customers desire, and then builds the product or service. Marketing theory and practice is justified in the belief that customers use a product or service because they have a need, or because it provides a perceived benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base management marketing takes over.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base management marketing takes over.
The process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, and improving the product/service continuously to protect the business from competitive encroachments
