Marketing includes all the strategies and actions that help companies achieve their goals, increase sales, or improve brand perception.
It is essential at every stage of a company’s sales process and can involve numerous platforms, social media channels, and internal teams to identify the target audience, communicate with them, amplify the brand’s voice, and build brand loyalty over time.
There are four key words often used to define what a strong marketing strategy includes.
The 4PS of Marketing:
- P for Product or Service: This includes anything placed on the market for purchase that can, in some way, satisfy a consumer’s need or desire.
- P for Place (Distribution Point): This refers to the process by which the product or service reaches the customer, whether a wholesaler or end consumer.
- P for Price: This is the amount of money the consumer must pay to access the product or service.
- P for Promotion: This includes all the channels, media, and techniques used to raise awareness of the product.
In the B2B Market, companies sell to other companies:
- Long-term relationships
- Small market
- Fewer transactions, higher value
- More rational decision-making
- Medium to high level of risk
- Multiple decision-makers
Commonly used tactics include:
- Attraction
- Lead generation
- Nurturing
- Appointment setting
- Proposal
- Closing
We hope our explanation of what marketing is helps you better understand it and its purpose.
If you need help, don’t hesitate to contact InfoSama. We’ll help you grow your business!
