EVERTHING IS POSSIBLE WITH THE RIGHT MARKETING !
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The marketing management process is very important for companies, so in order to better understand the marketing management process, I have included three main reasons in my essay.
Today’s
companies are in constant competition, and in order to be better than other
companies, it is required to apply the marketing management process. The
marketing management process is the most important part of a company. The
marketing management process is the process of planning and controlling the
marketing practices of companies. There are three reasons for the importance of
the marketing management process: brand awareness, understanding customer
needs, and efficient resource management.
The first is the brand awareness strategy,
which is one of the reasons for the importance of the marketing management
process. Brand awareness is crucial for marketing. Since brand awareness brings
with it the reliability of the brand in the consumer’s mind, it
attracts the consumer’s attention and makes the consumer feel safe. In other
words, the best part of brand awareness in the marketing management process is
that it enables companies to increase the value of their brands in the long
term and stand out in their market sector.
Another important reason
is understanding the needs of the customer in the marketing management process.
Knowing what the customer wants and producing according to the target audience
creates loyalty in the customer, thus increasing sales. It is important to
present and inform the customer in the right way. In this direction, a
competitive advantage is gained because the customer prefers the brand
that focuses on him.
Finally, effective resource management is an influential factor in the marketing management process. Effective resource management enables companies to monitor their costs on a regular basis so that they can use their budgets correctly and increase the company’s profit rate. Efficient resource management enables companies to evaluate the return on investments so that they can invest the right way.
As a result, as seen in the marketing management process, the use of brand awareness, understanding customer needs, and efficient resource management are very important factors for companies. Creating brand awareness causes the customer to feel safe. Understanding customer needs and offering the right product according to the costumer’s needs satisfies the customer, and the customer gains loyalty to the brand. Efficient resource management allows companies to keep track of their costs. In other words, the use of brand awareness, understanding customer needs, and efficient resource management practices in the marketing management process ensures the success of companies.
Marketing strategies have a very important role
for today’s companies. Factors affecting consumer behavior enable the marketing
sector to adjust marketing strategies according to the behavior of consumers.
There are two different factors that influence consumers’ decision making.
These are demographic and psychological factors that help to understand consumer
behavior.
The first difference is creating the target audience
the demographic factor affects individuals according to their personal
characteristics. In the demographic factor, target audience creation is based
on the age of the individual that is, older consumers focus on the products they
need, while young consumers keep up with fashion. In the psychological factor,
the individual focuses on inner thoughts. In creating the target
audience, the individual decides according to his or her opinion of the brand,
that is the perception factor.
Another difference is the decision to buy the
product. In the demographic factor, the factor that influences an individual’s
decision to buy something is their level of income. For example, people with high
incomes are interested in expensive products, while people with low incomes are
interested in more economical products. As a psychological factor, this depends
on the motivation factor. The motivation factor depends entirely on the needs
and desires of the individual.
Finally, differences in preferences, the
reason why people’s preferences are different based on demographic factors is
gender. Women tend to prefer clothes and makeup, while men tend to prefer cars
and technology. In the psychological factor, people discover new products and turn
to products according to what they hear from other people, that is with
learning management.
It is clear that the factors affecting consumer behavior are different. Demographic factors depend on personal characteristics such as age, income level, and gender. The psychological factor depends on the inner thoughts of the person, that is perception, motivation and learning factors affect it. So these two factors are completely different.
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