Marketing is one of the most integral aspects of any business activity. The success of any company or product largely depends on how well it has been marketed. A good market strategy is one that takes into account a number of different elements – from product promotion to advertising and from brand creation to sales and service design. A marketing system is any system that enables many market players to bring about and provide:
Different Kinds Of Marketing System
There are two major categories of marketing systems: vertical marketing systems and horizontal ones. A vertical marketing system involves one entity (the manufacturer, retailer, etc.) providing the product or service directly to the customer while a horizontal marketing system allows entities with similar products and services to work together to provide to the customer at an increased level of quality and at a lower cost.
Vertical And Horizontal Marketing Systems
Vertical marketing systems usually work well for large business firms that can afford to expand their range of clients and reach a wider range of target audiences than could be achieved through smaller budgets. However, because the cost of putting a product or service into the market is lower, vertical systems may not be able to achieve the same returns. Horizontal marketing can be used to build a network of like-minded businesses or create a new niche in an already crowded market. Facebook has been used before to create this type of niche market, and businesses still try to buy Facebook page-likes to connect with other potentially interested entities. The main advantage of this type of marketing system is that it allows smaller businesses to enter an already mature market that may have otherwise remained closed to them.
Marketing Information Systems
A marketing information system, on the other hand, provides data that can help decision-makers make informed decisions about advertising. It helps marketers evaluate the impact of advertisements on sales by tracking consumer behavior, evaluating market performance, collecting data on sales levels and other indicators. An advertising research company, for example, can help managers and executives make informed decisions about television advertisements, budgeting, product promotion, and other aspects of marketing.
Comprehensive Marketing Plans
A marketing plan, therefore, must address both internal and external resources. Internal resources refer to those people and organizations within the company who contribute to the success of the advertising programs. These include employees who perform job duties such as dealing with customers, providing customer service, and interacting with other customers. External resources refer to those organizations and individuals that provide funding for the activities of the marketing department.
The success of a marketing campaign depends on how well the marketer uses available sources of advertising media. Marketers may buy space on television and radio. They may advertise in newspapers and magazines. They may send brochures and business cards to potential buyers. Or they may open up their own advertising account with a printer and paper dealer. Regardless of the media chosen, the ultimate goal of marketing is to reach out to buyers, increase awareness of products and services, and build profits.
Direct Ads
Another type of marketing system is direct mail advertising. This kind of advertising often targets potential buyers who have not yet been contacted by other businesses. Direct mail advertising campaigns may include information about the products and services of the company, special discounts, and offers. Many companies also use postcard campaigns, which utilize specially designed pieces of paper, printed on an electronic printer, that contain the company’s logo and address.
Summary
A good marketing strategy is a complete package of effective techniques that provide a comprehensive picture of the company’s position in the industry and what it can do to improve it. Effective marketing plans incorporate an effective marketing system, adequate advertising, and marketing strategies, quality marketing information, and quality media plans. These elements combine to provide a comprehensive picture of what is needed to support a particular advertising program, to achieve the company’s goals, and to create and maintain customer loyalty. Once a company has these elements in place, it is easier for it to move forward and become successful.
