The 4 Essential components of Marketing

Marketing is the art of deliberately stimulating increased demand for products and services; and possibly including some element of selection of a targeted market; selection of some features or topics to communicate to your consumers. Marketing, when used appropriately, can be a very powerful way to make your message known. It also should be capable of predicting where the market is going and how it will react. The marketing goal is to increase market share by making the product or service popular. With marketing, your company should be well-established and have a good name for quality service or products.

There are many components of marketing: distribution, advertising, and product development. Distribution includes the way that goods are delivered to consumers and includes the cost of the distribution, including handling, delivery, and payment; this component also covers the distance, time, and methods of travel between the distributor and the consumer. Advertising is the most visible part of marketing, and includes the creation of brand awareness and the use of media to promote the products and services. Product development deals with new product designs and possibly new marketing elements to support existing offerings.

When marketing your products or services, it’s important to keep in mind that the marketing concept you choose should be in harmony with your selling concept. A good example is a carpet dealer selling only top quality carpet, while an interior design company may be able to market their company by emphasizing the visual aspects of design. Also keep in mind that marketing research and market research are an integral part of any marketing strategy, as they provide an objective look at your customers and what they want from your business.