During the marketing process, organizations have to develop a plan that ensures customers are adequately informed about the product they are selling. This ensures customers are loyal to the company and willing to buy the products of the company.
The first approach to marketing is to conduct a SWOT analysis of the business. This involves the identification of strengths, weaknesses, opportunities, and threats to the business. The organization then conducts its marketing activities by making use of its strengths, accepting the weaknesses, making use of the opportunities and avoiding threats. Marketing process will also involve researching the areas where customers need changes to be made on the product and the feedback from customers used to improve the existing products. Besides, the products of a company can be posted on social networking sites such as Facebook, Twitter, and Google so that online people can access them and know about them. The terms of payments, delivery, prices, and description should be indicated alongside the goods so that customers who are willing to buy the products can make arrangements to get the goods.
Furthermore, during the marketing process, it is important to conduct product segmentation marketing. This involves identifying customers who have similar demands for products and informing them about the products. This is relevant for companies that produce a range of products whose demands are different. Market segmentation can also be done based on demographic characteristics such as age gender and level of income. Marketing process should then be conducted based on the needs of people in various demographic groups.
Besides, the marketing process requires focusing on customer service. This involves the provision of services fast enough to satisfy the needs of customers. It also involves listening to customer complaints and acting on them by creating a better relationship between the organization and customers. For instance, customers can be asked to give their opinions regarding the services of the company and any changes they would like to be made. The organization then looks at the responses from customers and makes the changes appropriately to satisfy the recommendations made by customers.
A marketing process can also be achieved through product differentiation. This involves offering something that competitors do not offer, thus giving a company an edge over its competitors and improving the popularity of the products of a company. For instance, providing cleaner products and unique tastes for food products enhances the possibility of customers to prefer products from a particular company in preference to other companies.
Another marketing strategy that can be useful for the company is to conduct competition pricing. Because competitors will equally attract customers, the company can set prices a bit lower than that of competitors and when customers opt for its products, it can return to its initial pricing system. Besides, a company can conduct psychological pricing. For example, when the price of a product is $10, it can be set at $9.99 and when customers see this price, they associate it with low prices and buy the product.
Generally, there is no particular marketing strategy that can be used when marketing a product. The right marketing approach should be based on the conditions that exist in the market and the level of competition from similar products. However, the guidelines provided in this paper create the right direction towards a successful marketing plan.