Marketing, by definition is
“the activity for creating(product),
communicating(promotion), delivering(place), and exchanging(price) offerings
that benefit its customers, the organization, its stakeholders, and society at
large” (Marketing). By this definition
we see that there are four essential things that go into marketing
http://www.moxeemarketing.com/branding-marketing-strategy/4ps-of-marketing/#sthash.WqeTZR7g.dpbs
As displayed above, this is what the marketing mix, or the controllable factors used to solve marketing problems. While attempting to market a good, service, or idea, one must first analyze the 4 p's.
Deciding how one should advertise their product is a key component to marketing as a whole. There are many methods in which an entity can market a product. Newspapers, magazines, radio, and television are all examples of ways people can advertise whatever it is that they are trying to sell and influence consumers to purchase their product as opposed to a competitors.
Asking ourselves "who?" is another essential component of having a successful marketing campaign. Our target market is based off of the demographic of consumers, who are most likely interested and willing to buy our product. If the target market is not taken into consideration then the marketing campaign for your particular product will most likely be unsuccessful. Establishing a target market enables marketing to be more efficient and a company will see better numbers with a solid marketing strategy.
http://www.drumbeatmarketing.net/seo-blog/what-is-target-market-specific-messaging
Below is an example of how one should not market. Although there is a target audience (consumers who are trying to loose wait but just don't have that time) this product should have never even been advertised in the first place. The product itself is a flop with the way in which they advertised it. Sure this could be a useful product for home or studio use, but nobody would ever bring this into the workplace to try to lose weight. Not only is it a distraction to others, but it also makes it seem as though doing work while using this chair would be just as easy as working without it. One could tell just by viewing this commercial that this is a plain exaggeration of the truth. Making this motion while trying to type or file papers would not be a walk in the park.
This commercial is unsuccessful because of one of its target markets. The audience of those trying to lose weight is completely valid, however, reaching out to those who work in offices, and trying to get them to buy this product is a little concerning. This company took an alright product and sent it down in flames with a poor marketing strategy.
In the coming posts, I will be discussing in detail the different styles of marketing. I will answer the questions of, which methods of marketing are most effective and which ones are not, why? Also, how does the marketing mix effect the way in which these different marketing strategies play out?
Sources:
Kerin, Hartly, Redulius. Marketing. 11th ed. New York: McGraw Hill Companies, 2013. Print.
