4 Ps for Marketing Myopia

4 Ps for Marketing Myopia

Marketing is one of the most important aspects of any business. Marketing refers to the act by which an organization undertakes so as to engage its target consumer, develop long term relationships to generate ongoing value for clients and to ultimately capture value for payment in exchange for their services or products. Marketing has become an integral part of business activity. There are many ways in which organizations use marketing in business. Below we discuss a few. Read more about 4 Ps for Marketing Myopia below.

Market Research 

Marketing research is one of the most important marketing activities. It is done to collect data on customer buying habits, product preferences, buying patterns etc. and to analyze these data for improvement purposes. Marketing research helps determine what the competing brands are doing and how consumers feel about the same.

Influencer Marketing And Other Concepts

Influencer marketing is a specific form of marketing where a business works with a known individual or brand that is known to be an influential voice in their field. The individual who is ‘befriended’ provides them with advertising space and benefits in return for the marketing activities carried out. Examples of influencers include celebrities, product owners, public figures, entrepreneurs and media personalities. Many use tactics to buy YouTube likes and popularize their content. However, influencer marketing has been used successfully by some smaller companies without the help of a celebrity or an established brand. They may use influencer marketing to build a brand reputation, raise awareness of a specific product, or simply improve their website search ranking.

Other marketing concepts are known by different names; community marketing, social marketing, or societal marketing. Within these categories there are various marketing management philosophies or theories. These marketing concepts include; direct selling, referral marketing, and database marketing. Referral marketing involves creating a list of potential customers who have shown interest in the product or service that is being promoted, direct selling involves selling to a single person directly and database marketing involves developing a list of prospective clients that have shown interest in buying a product or service similar to that sold by the marketer.

What Are Marketing Strategies?

Marketing strategies, which fall under the larger umbrella of marketing concepts, can be used to target particular groups of consumers. For example, marketers may focus on targeting middle-aged males in order to increase sales for beer manufacturers. By identifying demographics, marketers can focus their marketing efforts in order to reach the consumer at the heart of the target population. This strategy will ensure that the message reaches the consumer at his or her most receptive point of interest – when they are most likely to take the necessary action.

Keyword Marketing

One of the most important marketing strategy concepts is keyword marketing. Keyword marketing is often considered to be one of the most effective marketing strategies available. Using powerful keywords as part of a marketing message allows the marketer to target the audience with the right message at the appropriate time. A keyword marketing campaign should be integrated into a broader marketing strategy to ensure that it is not missed. Below are four Ps to getting your keyword marketing message out:

Marketers should realize that selling comes in many forms and by definition, advertising is simply a way of communicating your product or service to consumers. However, selling to consumers does not stop with reaching them at their present location; marketing should extend to reaching them at their future locations as well. The Internet is one of the most powerful and accessible marketing tools available and by using this concept effectively will help you reach new and potential consumers at the appropriate time.

Positioning

The fourth, and in some ways the most important, concept to marketing myopia is positioning. Simply put, your product concept needs to be positioned in front of your consumer so that they can see it. If your product is sitting in your garage, it cannot be seen by many consumers. However, if you have a television ad, it may be seen by many viewers, if you only target the local cable audience, it may not even be seen.

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By Tom Smith

Tom Smith is Content Manager at Amir Articles, Answer Diary and Mods Diary from Australia, studied BSC in 2010, Love to write content in general categories, Play hardcore strategy games all the time.

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