Do you know a funny part of marketing? It is nothing theoretical, it’s intuitional. Whether we are sellers or buyers, we buy because of our perceived values. Suppose, you are living abroad and hear a restaurant calling out, “We serve homemade food”. You will visit the restaurant to have that “Homely Feeling”. Of course, when it comes to homemade food it’s not just tasty food, but a warm feeling that we usually experience at home.
The example mentioned above is just an idea but, marketers around the world may have more exemplary ideas. Marketers are individuals thus, will have their perspectives. They have their own end goal for marketing campaigns. Thus, ideologies vary but feelings never do. To tap on the right goal and align everything accordingly, you can follow these seven marketing functions.
Promotion:
If people don’t know about your products/services that means you don’t exist. Thus, you have to work on promoting your brand and tell your audience about your existence. Advertisement is key to the success of promotion. Poke them with notifications, leveraging offers and USP’s. For that, marketers use an ideology and a bunch of creative people. Digital Marketing is great for small businesses because to get people’s attention, one need to work hardest. But, do some research and know your customers before implementing any strategy.
A great ideology gets people to wonder, talk, and consider.
Selling:
Yah! A sale. Oh Sorry! So many salesss………..
When you promote, you make people aware of your products and services. Sometimes, it’s good to have an offer also. You can’t see this effect overnight, a continuous effort will help you secure a sale. You have to use both digital and traditional marketing ways to attract customers. Always remember, patience is a virtue and virtue is its reward. Don’t forget to make your products/services flexible so that they not only solve problems but also connect or motivate people.
Don’t sell your product/service. Educate, Inform, Help, and Entertain your customers.
Product Management:
There is a law of ecosystem, Survival of the Fittest, thus, if you want to survive in the competitive landscape you have to evolve based on the reviews or trends occurring in the industry. Don’t change, but evolve and make things better for your consumers. This is the most important part of marketing functions.
Evolve…because one lucky attempt is rare!
Pricing:
The most important part for every brand, you need to evaluate the price of your products/services. The prices are not just simply based on the expenses or investment. Because price defines your audience and packaging defines your standard. It also affects your brand image, thus, think a little more.
Price too low? The product is low quality. Price high? They sell premium products.
Marketing Information Management:
Running, planning, and executing…
This is the basic part of operations in brand management, but, storing, analyzing, and relating is the core of operations. If you don’t store and analyze your data, you can’t target well in the coming future. At the start of the brand, you are hitting a blank spot, but, after years it’s a bulls-eye. Thus, whether you are getting sales through digital marketing or through in store sale, Keep a track!
Without data, it’s just a guessing game.
Financing
Without capital, you can’t build a brand, because at last, you have to pay for the marketing spend and other running costs. Thus, it is mandatory to have budget planning under the supervision of financial advisors. When you are sitting over a planning budget, do include one to three years of planning. Because you have to invest in everything even if it is traditional marketing.
No Money? Means No Business, and No Marketing!
Distribution
Distribution depends on your business model, therefore, it’s not a part of marketing. However, distribution can affect the strategy of marketers. Like, if you have a store, you need to align the strategy based on the eyeballs they get in the location. The same goes with other distribution models to manage the money.
Sell to those, who have a need.
All these marketing functions are not part of the marketing, but they can help you come up with the right strategy. Otherwise, you will end up making bad decisions that can affect your brand and pocket.
Conclusion
You can have great ideas but if not implemented properly, they all go in vain! Ultimately, you need to consider profits at the end of the day. You might find these marketing objectives useless. Then also, every single objective is important. Always make sure to consider every dimension of your business and analyze everything. Keep an eye on standardization and classify your products as per your audience.
If you need help in marketing functions, contact The Brand Daddy experts – Click Here. If you want to learn more about marketing, read our 5 proven ways and strategies to increase brand sales and learn from the experts of the industry. The Brand Daddy team hopes that we have enlightened a new concept to your marketing skills. If yes, please leave a comment below!
