4 Ps of Marketing That Will Not Go Away – Market Research

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The term marketing can mean different things to different people. In business, marketing is defined as the process by which a firm sells its products or services to customers. Marketing is an important tool for any business. Without marketing, a business would quickly lose customers to competitors. Even if a business uses the Internet to sell its products or services, marketing is still an important part of the overall strategy a business employs.

Four Categories

Marketing can be broken down into at least four primary categories. These categories are research, product or service promotion, advertising, and networking. Each of these four categories has distinct purposes and methods of getting the message out to potential consumers. The marketing strategy for each of these four areas will vary depending on the type of firm, the market it serves, and the target market it is trying to reach.

Research

The methods of research are designed to help marketers learn more about their target markets. Through this research, marketers can find out what consumers want and how they are getting this advice. This information allows marketers to develop marketing campaigns that will reach their target market with the most effectiveness. Marketers who rely solely on consumer research are at a disadvantage because they do not understand how to best use the research to reach their consumers. For example, some marketers may use survey techniques only and miss out on finding valuable information about what consumers need.

Product Marketing

Product and service marketing is often thought of as the backbone of all marketing strategies. With the advent of the Internet, marketers have been able to utilize the Internet to reach a global audience with minimal cost. Although this has made marketing to the international market much easier, there are still some challenges that marketers face. One of the key elements to a successful product marketing strategy is the ability to effectively and accurately capture the responses of consumers.

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Advertising

Advertising is the backbone of any marketing strategy. Most businesses will spend money on the print media advertising such as billboards, radio ads, and television commercials. These types of ads provide a brand and a potential customer with a message. These messages need to be compelling in order for them to be effective. In addition to using effective print media, new product marketing strategies also include the use of the Internet.

Marketers should also include the use of traditional marketing tools such as trade show displays, direct mail, and business cards. However, these traditional marketing tools should not be used in isolation. A well-developed marketing strategy will allow marketers to create an integrated set of tactics that will effectively capture their target audience. Once marketers have a set of tactics for capturing their target audience, they can test new tactics to see which one has the best chance of achieving a higher return on investment than the other advertising techniques.

Video Marketing 

Video marketing has become a very important part of any Internet marketing campaign. Videos are excellent ways to provide information about a product or service. Marketers can develop videos that offer tips and tricks about their products, demonstrate features or some of the benefits of using particular products and more. However, before marketers can upload video marketing campaigns, they need to conduct a good amount of market research. The purpose of conducting a market research study is to determine how the video will impact a consumer’s purchasing decision.

Marketers can learn a lot about how internet marketing will affect their future campaigns by conducting market research. This research will help marketers identify how their chosen tactics for capturing their target audience will work against them. In addition to learning about how different techniques for online marketing will affect their overall plan, successful marketers will also learn about the pitfalls to avoid when attempting to launch an effective and successful online marketing campaign.

Networking

Marketers need to form a network to engage and interact with their consumers if they want to convert them into paying customers. In the age of the internet, this is easily done using social media networks and other internet platforms to consumers. 

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